UK FMI governance lead

Responsible for the assessment, implementation and continued development of FMI governance. In addition to BAU activities, the individual will identify enhancement opportunities, communicate the details of issues and corrective measures, and align activities to achieve prudent UK FMI governance.

The individual will support the effort to lead FMI workstreams for UK legal entities adhering to regulatory and internal governance requirements. Responsibilities include BAU and project management requiring considerable independent judgment and initiative as well as the use of data analysis and business problem solving skills. This role requires attention to detail and strong project management principles.

Responsibilities:

• The FMI lead will be responsible for the on-going refresh, maintenance, and enhancement of UK MLE FMI Contingency Plans, including the annual assessment of critical FMIs that support Critical Functions and Core Business Lines.
• The candidate is expected to be familiar with the UK resolution framework and have a working knowledge of the Bank of England’s Continuity of Access to FMIs policy.
• The FMI Lead shall possess a solid baseline understanding of core business lines, critical economic functions, critical operations, and governance of Citi legal entities, including BAU management of payment, clearing, settlement, and custody services across product management, client management, network management, risk management, operations, technology, and treasury (among others).
• The UK FMI lead will be required to enhance the existing UK FMI Governance framework bringing together key FMI touchpoints including (not limited to) resiliency, continuity of business, crisis management, incidents and outages, FMI inventories, key contacts.
• BAU activities will include quarterly refresh and maintenance of FMI inventories for UK MLEs, annual refresh of key contacts aligned to UK critical FMIs.

Further responsibilities may include the following:

• Develop a medium to long-term strategy and process for maintaining, executing, and managing the FMI Governance program deliverables in BAU.
• Continue to enhance legal entity FMI contingency plans that describe the framework maintaining continuity of UK critical FMIs during a financial stress or resolution scenario.
• Establish strategic solutions for preparing quarterly FMI inventories.  
• Establish relationships with key global partners including the EU and US FMI leads.
• Understand, collect, and aggregate activity, liquidity, and risk metrics associated with FMI services across businesses and functions for the purpose of UK FMI related deliverables.
• Recommend enhancements to management, businesses, and functions to address regulatory expectations on data capabilities.
• Act as the main point of contact for the UK internal and external stakeholders (regulators) on matters relating to FMIs.
• Chair and Lead the UK FMIs Working Group; participate on other relevant Steering Groups and Working Groups.
• Lead/co-lead annual FMI tabletop simulations taking ownership of remediation actions as required.
• Collaborate closely with RRP and support a wide range of analytical presentations that help decide and support  regulatory strategies.
• Develop a clear understanding of enterprise-wide impact in case of an FMI failure/disruption and establishing connection with other related initiatives like Operational Resilience.
• Partnering, collaborating and working with other areas within Citi, including contributing to regional and global resolution planning exercises and documentation as required.
• Keeping abreast of regulatory changes, new regulations and internal policy changes in order to further identify new key risk areas.

Qualifications:

• Bachelor’s degree; experience in FMIs and Recovery and Resolution Planning a must, project management, markets or business experience in a financial services firm; experience in regulatory interactions; Advanced degree preferred.

Competencies:

• Must be a self-starter, flexible, innovative and adaptive.
• Strong interpersonal skills with the ability to work collaboratively and with people at all levels of the organization.
• Work collaboratively with regional and global partners in other functional units; ability to navigate a complex organization.

Experience/Knowledge:

• Knowledge of FMIs requirements, policies and procedures, laws, rules, regulations, risks and typologies.
• Proficient in MS Office applications (Excel, Word, PowerPoint).
• Knowledge in area of focus.
• Prior experience in Markets, Direct Custody and Clearing or Trade.

Skills:

• Strong verbal and written communication skills; ability to present ideas to audiences at all levels internally and externally.
• Demonstrated track record of collaboration across multiple, disparate internal business groups.
• Ability to manage multiple projects and priorities across teams and work effectively under pressure in a rapidly changing environment.
• Ability to work with different business and functions teams and across regions and time zones.

Education:

• Bachelor’s/University degree or equivalent experience, potentially Masters degree

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

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