Head of Business Execution and Operational Risk, US Pensions Team - C15/ New York

The US Pensions Investment (“USPI“) team is responsible for managing the Citi's US Defined Benefit and Defined Contribution retirement plans of a total $30 billion and advises on the Asset Allocation and Investment strategy for all the International Pension Plans.

The USPI Manager for U.S. Pension Investments (“USPI”) will bolster the Risk & Controls framework of the USPI team, including creating enhanced documentation and reporting processes. This individual, with a Risk and Compliance background, will oversee and check the day to day USPI Operations team’s activities and will have the ability to raise issues directly to the fiduciaries and senior management on the sponsor side.

The Balance Sheet Mgmt Sr. Grp Mgr should have in-depth understanding of how own sub-function contributes to achieving the objectives of the function. A good understanding of the industry, direct competitors' products and services, is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the relevant part of the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. Accountable for end results, budgeting, planning, policy formulation and contribution to future strategy of the area(s). Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses.

Responsibilities:

• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup and the Plans, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
• Streamline business processes and activities to ensure compliance with fiduciary standards, Department of Labor and ERISA.
• Partner with both USPI Investment and Operational teams to continuously develop and follow best practices and procedures in Plans asset management.
• Support the CIO in all aspects of PPIC/401(k) relations, presentation preparation, asset allocation, and liquidity management and fee/expense analysis.
• Coordinate with the Investment Officers to improve investment procedures documentation for the USPI team and the ongoing monitoring of the procedures and to address any deficiencies identified in the day-to-day activities and procedures.
• Interface with both Citi Treasury/CTI COO and FCOO offices to address any corporate requirements related to Pension Plans.
• Management of USPI Managers Control Assessment (MCA) and attestation and liaising with all support functions (Legal, Risk, Compliance, Human Resources, Internal Audit and Finance).
• Coordinated of the USPI Internal Audit and ongoing related requests as well with External Audit reviews/assessments.
• Create and present summary operational reports on a quarterly basis for PPIC/4PIC.
• Review and update reports on all USPI investment and operational activities monthly and determine/ raise related operation risks across all operational transactions.
• Review Investment Independent Review (IIR) approval memo that USPI’s CIO signs off.
• Review all monthly Operations Team and Investment Officers reconciliations have been conducted and commented appropriately.
• Review Pension and 401K Plans activities such as wire transfers, subscriptions and new investments, redemptions, capital calls, wire transfers, book transfers, foreign currency, call backs and other and sure that all transactions are properly supported.
• Review Quarterly PPIC/4PIC materials.
• Review initial investment checklist and related supporting documents/agreements.
• Review USPI staff’s timesheets.
• Review third party agreements and participates in the request for proposal (RFP) and contract negotiations.
• Responsible for ascertaining the Citi affiliate list which is provide to investment managers.
• Assist Citi Benefits Finance on Bank Holding Company Act and Volcker reporting and attestation requirements.
• Assist in the new investments and redemption process.
• Monitor watchlist funds based on pre-determined criteria.
• Validate that the investment meeting notes for each meeting identified within the PPIC /4PIC manager meeting slides are complete and stored on the shared drive.
• Validate that each Investment Officer has addressed and commented on each daily compliance monitoring exception.
• Conduct regular reviews of USPIs procedures and policy documentation.
• Provide staff training pertaining to USPI’s needs.
• At the direction of USPI's CIO, acting as a liaison between USPI and the Sponsor Control/Support Functions.
• Performs other duties and functions as assigned.

Qualifications:

• 15 plus years of experience within financial services.
• Solid understanding of financial products.
• Established effective leadership and management skills with ability to build relationships.
• Clear concise communication skills, both oral and written.
• Excellent analytical and problem solving ability.
• Solid understanding of the Risk and Controls within the bank.
• Ability to multi-task and ability to work under pressure.

Education:

• Bachelors degree, potentially Masters degree and managerial experience

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In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Anticipated Posting Close Date:

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