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Escrow Product SpecialistApply Now Locations: San Francisco, California Job Function: Private Client Product Services Employee Status: Regular Job ID: 20168256
The Escrow Agent Services team of the Citi Private Bank as an immediate opening for an Escrow Product Specialist in its San Francisco office. This team is a product within the Banking and Custody unit of Citi Private Bank’s North America region, and is part of the larger Institutional Clients Group (“ICG”) division of Citigroup.
The Escrow Sales Sr. Lead is a strategic professional who closely follows latest trends in own field and adapts them for application within own job and the business. Excellent communication skills required in order to negotiate internally, often at a senior level. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and external customers.
- Works closely with all members of the Escrow Team, assist with the marketing, delivery and servicing of the Escrow Agent Product to Private Bank clients
- Assist with closing new escrow agent business opportunities. This includes participating in sales calls, presentations and conference calls as necessary.
- Prepare presentations and create customized, ad-hoc marketing materials as needed.
- In conjunction with internal Citibank legal counsel and/or external legal counsel, as appropriate, negotiate escrow agreements for new transactions, adhering closely to Citi legal requirements and client timeframes. Understand and minimize the risks of escrow agent transactions when negotiating agreements.
- Involve internal partners such as the CPB trading desk, foreign exchange specialists, equity specialists, etc. as needed.
- Work closely with Private Bankers / Banker Associates to obtain all required Know Your Customer / AML / Patriot Act and related account opening documentation.
- Oversee account openings, fundings and closings with junior team member(s); review documentation provided for completeness and accuracy. Identify deficiencies and coordinate with banking team and/or clients to cure deficiencies.
- Coordinate deal closings with clients – attend and/or participate in closing calls as necessary. Ownership and execution of key Banker/Sales business & practice monitoring and control activities which includes production of various periodic management status reports, committees, etc. as required.
- Review of escrow agreements / contracts as necessary to determine if client requests / instructions provided are permissible. Understand requirements and monitor activity for specific Escrow accounts to ensure Citibank's contractual duties and responsibilities are strictly followed.
- Prepare, maintain and update spreadsheets, calculations, reports and/or special documentation required for specific transactions (complexity can vary from deal to deal).
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, 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.
- Resolve client inquiries and issues on a timely basis and as accurately as possible through effective and efficient use of Private Bank resources.
- Domestic travel when / as required.
- 10+ years of relevant experience.
- Experience working with escrow transactions and settlement funds is preferred. Familiarity with the securities industry - specifically, securities movements, fixed income securities and deposit products
- Strategic focus: strong candidates will exhibit an ability to proactively think “out of the box” and to creatively craft solutions to meet client needs. All transactions are different and clients constantly seek a “Citi solution” for their endeavors.
- Negotiating skills: experience with negotiating contracts or documents related to escrow accounts.
- Project management skills: candidate must be highly organized and efficient; ability to effectively multi-task and adhere to daily time sensitive deadlines is critical.
- Technical skills: thorough knowledge and familiarity with Microsoft Word, Excel and Outlook is is mandatory.
- This position requires heavy client contact; strong interpersonal and client relationship management skills are essential. Excellent oral and written communication skills.
- Bachelor's/University degree, Master's degree preferred
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Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
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