Citi Country Officer (CCO) & Banking Head - China

The CCO is the face of Citi in the country, playing the crucial role of leading and protecting the Citi franchise. In both leading the business and protecting the franchise, the CCO must achieve collaboration and alignment across all stakeholders – effectively managing a large matrix team.

Citi first established an office in China, in Shanghai in 1902. In 2007, Citi China became a locally incorporated bank in China, one of the first foreign banks to do so. There is an active subsidiary board which meets every quarter. The CCO is the President and Legal Representative of the local bank subsidiary and is subject to the accountability regime under the local regulatory environment.

Citi China is present in 12 major cities across China — Beijing, Changsha, Chengdu, Chongqing, Dalian, Guangzhou, Guiyang, Hangzhou, Nanjing, Shanghai, Shenzhen and Tianjin. Today, Citi is the largest US bank in China, and the second largest foreign bank by net income. Citi employs around 8,000 people in China between the bank entity and the Citi Solutions Center.  

In July 2021, Citi China became the first major global custodian to be permitted to operate a domestic Chinese fund custody business. In 2022, Citi China was one of the first international banks to establish the route with China Securities Depository and Clearing (CSDCC) Beijing Branch to support clearing and settlement activities for the new Beijing Stock Exchange and the National Equities Exchange and Quotation (NEEQ). Citi is actively pursuing the set-up of wholly owned securities and futures companies in onshore China.

The Citi franchise in China:

Leveraging its global network, Citi China is committed to supporting the strategic needs and aspirations of Chinese Corporates’ going global, as well as global MNC’s development in China. As we do so, we also actively participate in and contribute to the continuous financial opening up in China. Citi China provides global banking capabilities and services to mid-sized companies in China, including in rapidly growing sectors such as eCommerce and high-end manufacturing, in our commercial banking. As many of these clients expand internationally, Citi helps enable their growth and access to capital through our unique global network and market-leading cross-border financing solutions.

Citigroup Services and Technology (China) Limited (CSTC):

CSTC provides financial-related operation and technology services for Citi globally, including software development and technology support for Citi worldwide and data-processing services for Citi in the Asia-Pacific region. CSTC is headquartered in Shanghai, with offices in Dalian and Guangzhou.

Responsibilities:

Leading the Business

• Ensuring that the annual business plan is approved by all respective businesses, product lines and functions as well as the Regional Cluster Head / Regional CEO, with performance against that plan monitored regularly.
• Managing directly and through matrix reporting, all businesses, product lines and functions based in China.
• The CCO does not directly manage offshored and outsourced services, but relies on the heads of products and functions, some located outside China to manage associated services relevant to their areas.
• Acting as a single, coordinated face to the local marketplace and the lead Citi representative in the country in front of external stakeholders including clients, regulators, government, community, media and actively raising Citi’s profile.
• Being involved in the decision-making process for acquisitions/investments/divestments for proprietary M&A in the country.
• Providing oversight for all critical country and other risk limits and for country scenario planning.
• Ensuring a realistic succession plan is in place for key country roles, to include at minimum permanent members of CCC.
• In partnership with HR, executing Citi’s Talent agenda and overseeing franchise-wide Talent review and development activities.

Protecting the Franchise

• Protecting Citi’s reputation in China.
• Ensuring compliance with all applicable laws and regulations (local and US).
• Ensuring compliance with all applicable requirements regarding “financial inclusion”.
• Ensuring compliance with all corporate policies, including ethical standards, corporate governance standards and business practice requirements.
• Leading management and coordination of governmental and regulatory relationships.
• Promoting a strong culture of timely escalation, ethics, compliance, and control.
• Identifying, assessing, mitigating, communicating and anticipating all types of risks through the development and sustainability of appropriate control mechanisms.
• Leading and coordinating consistent application of Managers Controls Assessment (MCA) process across the franchise.
• Managing the organization and corporate governance of country-based legal entities and their regulatory reporting.
• Leading Citi’s response to a franchise-wide event, e.g. crisis or disaster. In such a situation, all business and function heads must work under the CCO’s direction.

The ideal CCO profile should be viewed in context. Each country has its own cultural, business, political and security environment. Each CCO has a unique set of capabilities and operates in constantly changing markets. At the same time there is a core set of work experience, skills, knowledge, and leadership capabilities which are desirable across all CCO roles:

Work Experience:

• Substantive experience operating in China.
• Business Management and running a P&L.
• Previous experience of managing Risk, Finance and Controls.
• Managing medium/large teams across a matrix organization.
• Relationship/stakeholder management with both internal and external stakeholders.
• Cultural sensitivity gained through working in more than one country.
• Navigating corporate governance frameworks.
• Understanding and translating global/regional strategy.
• Previous experience within Citi, or comparable experience in competitor organizations, is considered preferable.

Knowledge and Skills

Product Knowledge

• Core product knowledge and ability to use diagnostic capabilities to bring the potential of the Firm together for the client.

Impact and Influence

• Exceptional speaking and written communication skills, including in Mandarin and English.
• Strong listening skills and ability to influence key stakeholders.
• Exhibits credibility, flexibility and authenticity when communicating with clients, employees, internal partners, regulators, media, and other key stakeholders.

Relationship Management

• Builds strong and lasting relationships with clients and partners.
• Navigates internal and external networks to drive value for clients and the Firm.

Risk, Finance and Controls

• Familiar with Citi’s Risk culture, Risk and Finance framework and their application at a country level.
• Sound understanding of credit, price, interest rate, liquidity, operational, reputation, strategic and compliance risk.
• Sound understanding of capital allocation.

Governance

• Familiar with Citi’s franchise governance framework.
• Creates alignment between the global strategy and local execution, while balancing resources among front, middle and back office
• Ensures timely issue escalation within and from the country.
• Strengthens relationships with external stakeholders, especially regulators, industry associations and policy makers.
• Understands the importance of local corporate governance.
• requirements with the subsidiary board, where applicable, and often with outside directors.
• Prior Board experience is considered preferable.

Leadership Capability

Develops our People

• Builds talent and teams for Citi by creating a culture of meritocracy and transparency, and celebrating excellence, initiative, and courage.
• Inspires and empowers the team to work collaboratively to achieve superior results.
• Creates an environment where people hold themselves to the highest ethical standards.
• Models personal growth and consistently provides coaching and feedback in support of ongoing development and retention.
• Attracts great talent, builds a diverse talent pipeline, and recognizes, rewards, and promotes based on performance.

Drives Value for Clients

• Enables economic value and positive social impact for clients, companies, governments and communities.
• Puts clients first by anticipating, understanding and exceeding their expectations and needs.
• Acts as trusted partner to clients by delivering superior honest advice, and quality products and services.
• Brings the best of Citi and knowledge of global issues and market trends to create value and goodwill with clients.
• Drives innovation, competitive differentiation, and speed to market by actively learning from others.

Works as a Partner

• Works collaboratively across the Firm and encourages others to achieve the best results for Citi and our clients.
• Exemplifies global leadership by embracing unique perspectives from across Citi to achieve the best solutions.
• Challenges self and colleagues to higher levels of performance by actively listening and engaging in constructive dialogue.
• Treats people with respect and assumes the intentions of others are based on common goals and shared purpose.

Champions Progress

• Champions a culture of high standards, pushes for progress, embraces change and challenges the status quo in support of Citi’s vision and global strategy.
• Communicates a vision that is forward looking and responsive to changes in the environment.
• Inspires enthusiasm and mobilizes resources for productive and innovative change.
• Exhibits confidence and agility in challenging times.
• Sets a positive tone when implementing Citi-wide change initiatives.

Lives our Values

• Ensures systemically responsible outcomes while driving performance and balancing short- and long-term risks.
• Sets the standard for the highest integrity in every decision.
• Leads by example: willing to make difficult choices in support of Citi and our stakeholders.
• Makes Citi better for all by putting clients’ and Citi’s interests ahead of individual or team.
• Has the courage to always do what is right and the humility to learn from mistakes.

Delivers Results

• Sets high standards and achieves performance objectives by creating a clear path toward ethical and sustainable results.
• Translates Citi’s strategy into effective plans for growth or optimization while proactively overcoming obstacles.
• Prioritizes and provides a clear line of sight to the most critical work.
• Sets goals and measures progress to ensure the organization is focused on ethics, execution and results.
• Expects self and team to consistently meet/exceed expectations.

Education Level

Strong academic background, MBA preferable. 15+ years of experience,

including 10+ years' senior leadership experience.

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