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Pune Custody Head of Asset Servicing Operations

Job Req ID 22464130 Primary Location Pune, India Job Category Operations - Transaction Services
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Organization Overview:

Global Custody Operations has approximately 2,200 staff in 50 plus countries and budget of over $160mm, global revenue of $2bn with over 1,000 clients. Global Custody Operations is going through an exciting transformation with both operation and business strategy. The group is comprised of Asset Servicing, Transaction Management, Tax, Risk & Control and Operational Readiness.

Job Purpose :

The Pune Asset Servicing Head role is within ICG Custody Operations, it’s a high-risk function and part of the Custody Operations division. Asset Servicing is represented Globally across the NAM, LATAM, EMEA and APAC regions. The Asset Servicing department is an integral part of the ICG O&T division and has responsibility for processing Corporate Actions, Income, Event Capture and Proxy events. It is one of the highest risk areas within operations.

This exciting role is to manage and lead the teams for Pune Asset Servicing Operations. The individual will be responsible for the direct leadership and management of a diverse set of talent comprising of approx. 95+ people located in Pune with an increasing footprint.  The unit provides client-orientated support, utilises all processes of the other areas of operations and partners closely with the business.

The role requires the Head to have a comprehensive understanding of multiple areas within Asset Servicing and how they interact in order to achieve the objectives of the function. Strong commercial awareness is a necessity. Excellent communication skills are required in order to negotiate internally and externally, often at a senior level. Applies in-depth understanding of the business impact of technical contributions and generally accountable for delivery of a full range of services to one or more businesses/ geographic regions.

The individual will be accountable for the end results of an area and exercises control over resources, policy formulation and planning at part of the strategic vision and direction. The individual will have accountability for daily supervisory risk and service oversight, ensuring that the objectives of Operations, the Business and our clients are executed to a high standard and in full accordance with regulatory and control requirements.

The successful candidate will report directly into the Global Corporate Actions Head and will be responsible for continuing to strengthen the experience within the teams whilst enhancing risk and control frameworks and the client experience, aligning to company strategy and vision.

Organizational Oversight:

  • Provides Leadership to the reconciliation and processing of all Asset Servicing functions in Pune.  
  • Directly responsible for approx. 95 FTE+ based in Pune, with 5+ directs.
  • Manages multiple teams within a functional area and is responsible for ensuring successful front to back processing of all Asset Servicing events for NAM/EMEA/APAC markets.
  • Manages regional alignment, develops organizational strategies, and builds credibility and trust with regional partners and management.
  • Builds a strong partnership with regional locations across operations, business and client.
  • Manages multiple high priority visible projects, manages vendor relationships, and appropriately leverages and allocates necessary resources
  • Supports a wide range of internal clients (product, sales, client delivery, and technology) and external corporate clients
  • Demonstrates an in-depth understanding of how own area integrates within the overall function to achieve objectives;
  • Contributes to budget and manages distribution and exceptions
  • Presents, analyzes and validates data to develop valued added solutions to increase productivity and efficiencies
  • Executes on all other duties as assigned Defines and executes benchmarks for break management, ensuring commentary and resolution has clear ownership and path to closure.
  • Partners with the Global group to define the Risk & Control Framework. Responsible for executing leading to a reduction in the opportunity for losses/Near Misses/SIRTs. 
  • Ability to identify issues, gaps in controls and execute remediation timely. 
  • Ability to make quick decisions in a fast-paced environment Support and be a key lead in strategic automation ensuring seamless implementation into BAU.
  • Identify areas for Manual Touch point reduction and demonstrate working towards simplification strategy. 
  • Escalation point for any actual or potential issues and ability to pro-actively escalate internally within Operations, Control, ORM and Business.
  • Key point person during any Audits, Control or Regulatory reviews and actions
  • Manage any self-raised CAPS Perform process reviews, identifying any gaps and implementing controls and/or process to deliver Global consistency
  • Attend market industry forums and represent Citi Custody
  • Ensure processes and controls are documented within procedures and maintained regularly.
  • Understand, implement and monitoring of all market and regulatory changes Monitor and review trends via Error, KPI’s and metric analysis and implement corrective action plans to maintain the culture of preventative action
  • Acting as key point of contact for Pune Asset Servicing Operations groups across internal and external stakeholders

People & Culture Agenda:

  • Continue to build a diverse team, contributing to the overall firms Culture and Talent Goals.
  • Implement a successful People and Engagement strategy to help attract, develop, retain and recognize a diverse and talented global workforce 
  • Lead and co-ordinate change following VOE results
  • Establish and contribute to Global Training Framework. Adhere to Training approach for new starts with training modules and training plans. Ensure an efficient training structure is in place.
  • Responsible for the development of talent in the group and a succession pipeline for all roles and levels.
  • Evaluates subordinates' performance and makes recommendations for pay increases, hiring, terminations and other personnel actions
  • Promoting a culture of continuous improvement and cultivating a robust service and control environment
  • Coaching and mentoring our People. 
  • Ensuring effective one to one discussion.  Providing direction, feedback, support, and encouragement for career development
  • Championing diversity and inclusion to create a working environment which allows our People to thrive and excel

Organisational Transformation:

  • Leading the Organization to deliver vs goals to meet the Target Operating Model
  • Leading the Pune team to simplify, improve and measure processes by delivering enhancements to the control environment, and the client experience with input to design techniques and digital automation
  • Driving and supporting the delivery of strategic platform re-engineering initiatives, reducing manual touch points. Ensuring operational teams are ready to support following new releases and control environments remain tight.
  • Driving the implementation of initiatives to continuously improve Straight Through Processing (STP) rates and productivity, including the use of robotics, workflow and other innovative re-engineering techniques

Qualifications:

  • 10+ years of relevant experience
  • Senior to advanced level experience in a related role with commensurate experience in people management preferred
  • Experience in management with Banking and Financial Institutions preferred
  • In-depth understanding of opportunities that exist within Financial Services and significant experience in Corporate Banking
  • Demonstrated success coordinating with senior leadership and in managing others
  • Proven ability to manage various concurrent activities/projects in a high-risk environment
  • Effective project management and negotiation skills
  • Consistently demonstrated clear and concise written and verbal communication
  • Required Licensing/Registration: Series 7, Series 9, Series 10, Series 63
  • Bachelor’s degree/University degree or equivalent experience

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Job Family Group:

Operations - Transaction Services

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Job Family:

Securities and Derivatives Processing

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Time Type:

Full time

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