Client Assets, Depositor Protection, FMI Vice President

Job Purpose:

The role holder will be responsible for supporting the CEP and Europe Client Asset & Depositor Protection Oversight Officer to govern and oversee Client Asset & Depositor Protection activity within the business lines across CEP and European regulated entities.

The individual will work full-time as part of a small team in a work setting that can accommodate a ‘hybrid’ working style, made up with a mixture of home and office work locations, but they are expected to be flexible in their approach and accommodate the needs of colleagues and key stakeholders in order to make the role a success.

In addition, the role holder will support the governance of Financial Markets Infrastructure (FMIs) in Europe.

Citi is committed to having a world-class control environment within its business lines and it is intended that this initiative will be demonstrable evidence of that fact.

Job Background/context:

Citigroup is a Global bank, operating across more than 50 countries in the EMEA region, delivering clients a wide portfolio of products and services. Citigroup holds a large value of Client Assets and Deposits across a number of regulated entities and business lines. These activities are associated with a large number of regulations and attract a high degree of management and regulatory attention.

The COO office is responsible for governance and oversight of Client Assets, Depositor Protection and FMI European regulated entities and is looking for someone with proven skills, knowledge and experience in this field, to join the department. This role will be located in Dublin, primarily supporting the Client Asset & Depositor Protection Oversight Officer. The individual will also support the effort to lead the FMIs workstreams within European regulated entities.

Responsibilities and projects are complex and require 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.

Key Responsibilities:

- Support the team who manage the day-to-day governance and oversight of client asset, depositor protection and financial market infrastructure processes and controls for the European regulated entities, with a particular focus on businesses; covering Custody, Issuer Services, Wealth Private Banking and Legacy Consumer Holdings, Treasury and Trade Solutions and Sales & Trading.
- Assist senior team members in preparing materials for governance meetings and provide challenge where appropriate to the relevant businesses to ensure regulatory requirements are properly interpreted and Standards adhered to.
- Oversee and review any regulatory reports to ensure accurate and timely production and submission.
- Act as a skillful reporting risk and control manager.
- Draft and keep up-to-date all formal governance meeting Charters/Mandates and ensure committee members adhere to these terms and conditions.
- Ensure appropriate membership across meetings and be a key point of contact for external parties wanting to engage with the office.
- Act as secretary of relevant governance forums: preparation of materials, agenda management and coordination; meeting execution and minute taking.
- Understand, challenge where relevant and ensure adequacy of information from business partners of all levels.
- Assist in the development of junior members of the team.
- Manage FMI relationships from a risk exposure and connectivity perspective (incl. the definition of their criticality).
- Map FMI relationships holistically from a service provider perspective & develop a clear view on the activities with a certain FMI across multiple business lines and locations.
- Recommend enhancements to European regulated entities management, businesses, and functions to address regulatory expectations on data capabilities.
- Partner, collaborate and work with other areas within Citi, including contributing to regional and global resolution planning exercises and documentation as required.
- Keep abreast of regulatory changes, new regulations and internal policy changes in order to further identify new key risk areas.

Development Value:

- Senior Management engagement: the role involves senior stakeholder engagement across the firm and each of the three lines of defence. The role provides an excellent opportunity for the role holder to learn from the experience of others across the organisation and widen their stakeholder influence group.
- Product and business knowledge: Citi operates a wide and diverse range of businesses, which are impacted by Client Asset, Depositor Protection and FMI regulations; as such, the role holder will have the opportunity to enhance and deepen their product and business model knowledge.
- Technical knowledge: support for other operations that are subject to Client Asset and Depositor Protection requirements, the role holder will be in an excellent position to gain exposure to European regulation and strengthen the firm’s position to negotiate and influence the outcome of government and regulatory oversight.

In addition, the following development values are applicable to the role holder:

- Opportunity to lead, take responsibility and demonstrate capabilities.
- Exposure to challenging subjects/initiatives.
- Opportunities to grow network of stakeholders.

Knowledge/Experience:

- At least 5 years’ experience in the field of financial services and/or banking - Client Asset & Depositor Protection regulatory experience a benefit.
- Proven exposure to and experience of governance and managing committees and Boards at a large firm with extensive reporting obligations.
- Proven experience of writing formal documents, reviewed by senior management and published internally or externally.
- Experience in or a proven understanding of how a global firm is organised; both in terms of it being a matrix-managed environment and operating under the 3 LoD model.
- Knowledge of FMIs requirements, policies and procedures, laws, rules, regulations, risks and typologies.

Qualifications:

- Highly likely to be educated to degree level.
- May also have post-graduate qualifications.
- Ideally possessing a relevant professional qualification.
- Exceptional candidates who do not meet these criteria may be considered for the role provided they have the proven skills and experience.

Skills and Competencies:

- Detailed understanding of how governance frameworks and committee structures operate in a global firm.
- An understanding of how regulatory requirements work and how regulatory supervision works in Ireland and across Europe.
- Detailed understanding of the importance of governance materials and how they impact decision-making.
- Strong organisation and time-keeping skills.
- Good communication skills including articulation of complicated subjects.
- Detailed understanding of how to write effective papers for executives, committees and Boards.
- An understanding of risk concepts; control standards; and issue management.
- Proficient in stakeholder management and an excellent team player.
- Competent skills with Microsoft Office.

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