North America Head of Regulatory Governance for Foreign Exchange Operations
Citi Markets Operations is currently at a pivotal point in its evolution and journey to implement a target operating model. We take pride and are passionate about our People and our culture. We are invested in our People and their development. We are transforming and simplifying our operating model, creating an exciting environment which encourages diversity of thought and inclusion.
We are a dynamic, global, and diverse Organization, with a presence in over 60 Countries; covering all front post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & Commodities Operations. We support an extensive range of Capital Markets products and services including Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market, Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and Syndicates where we support both FI and EQ new issues and IPOs.
Our Operations groups are core to the success of the Markets business and have significant impact across the lifecycle of a trade. We partner extensively with a range of internal stakeholders including Front Office Sales and Trading Desks, Compliance, Legal, Finance and HR; alongside having significant interaction with our external client base, playing a key role in the overall client experience. We have a Client relationship group, dedicated to overseeing the Organizational service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first-class experience when doing business with Citi.
Our Business Intelligence and Process Re-engineering group works alongside our Operations teams delivering automation solutions to solve for operational challenges. We partner with Citi’s innovation labs to drive optimization, and overall play a pivotal role in enabling us to transform to achieve our target operating model.
Our Technology partners develop and implement a wide range of applications that support the Operations, Change, Design and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risk, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning.
Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace. We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls; to protect our clients, the firm, and our reputation.
We work closely with our external global peers, partners, and regulators, and play an integral part in leading an agenda at the forefront to optimize and streamline processes and drive strategy across our industry.
Job Purpose :
Foreign Exchange Operations is responsible for supporting the Front Office Markets Sales and Trading desks by building, maintaining and providing a robust operational risk and control framework. FX Operations also serves as an essential transaction capture, settlements, and reconciliation unit for foreign exchange executions facing our counterparties, as well as control function and key performance indicator monitoring. This is a newly created role where the candidate will be responsible for leading the regulatory governance program for the Foreign Exchange Operations group with particular focus on overseeing and coordinating the regulatory risk and control change program for the group.
The role will combine subject matter expertise in FX Operations processes and products with project management and change skills, to support a change program across the group. The candidate will work with first line and second line control owners to define the required end to end controls framework for the business, conduct a gap analysis relative to current state leading to a plan for control enhancement requirements and then track implementation in line with the change program objectives.
The role provides a range of opportunities to impact and influence the overall target state design and implementation of our strategic transformation priorities including:
- Strategically position the Markets FX Operations group by helping to formulate the future vision of our operating model
- Implementing best practices and global consistency, simplifying & standardizing processes, and flows
- Opportunity to learn and acquire expertise across a range of foreign exchange products
- Empowerment to make decisions and drive a strategy
- Significant interaction with a wide range of stakeholder groups and senior management to help drive the agenda
- Participate in a global program to simplify, improve and measure processes by delivering enhancements to the regulatory control environment, and the customer journey with input to design techniques and digital automation
- Partner with the transformation team to deliver change and uplift the risk profile of the group
- Drive process re-engineering, standardization and technology prioritization along with global FX Product leaders
- Implement a governance framework with FX Product Leaders, to ensure full transparency and buy-in regarding transformation decisions affecting the group
- Implement plans and execute vs milestones ensuring we meet deadlines and commitments to regulators
- Develop and suggest operating model changes in order to pivot the FX Operations group towards digitization and enhanced client experience
- Play a key role in the formation of the Operations 2022 - 2023 vision and strategic roadmap
- Present comprehensive KPIs/Metrics for senior executive consumption for the group, working in close partnership with the Group Leads and SMEs
- Partner with the Group’s product leaders to understand process flows, challenges and potential solutions and present opportunities to senior Management
- Articulate solutions vs current state for digitization, automation, low code solutions and straight through Processing
People & Culture Agenda:
- Promoting a culture of continuous improvement and cultivating a robust service and control environment
- Championing diversity and inclusion to create a working environment which allows our People to thrive and excel
Qualifications and Skills:
- BS/BA degree or equivalent work experience preferred
- 10+ years of experience in Tier 1 global financial institutions
- Experience driving change and transformation projects, and turning a vision and plan into measurable execution
- Energetic, flexible, collaborative, and proactive; a leader who can positively and productively add product impact to both strategic and tactical technology
- Strong, influential communicator who is articulate and concise, demonstrated success interacting with senior management both in the business, corporate functions as well as the Operations, Business and Technology environments
- Strong risk management and control mindset
- Provides evaluative judgment based on analysis of factual information in complicated, unique and dynamic situations; draws on diverse range of internal and external sources
- Self-reliant, good problem solver, results oriented. Proactive and takes the lead to devise creative solutions
- Ability to establish and build trust with professionals throughout the business as a leader, advisor and business partner to the organization with a clear client orientation
- Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint
- Ability to conceptualize aspects of the organization’s model and its future development. Maintains a balanced and fresh viewpoint
Job Family Group:Operations - Transaction Services
Job Family:Cash Management
Time Type:Full time
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.
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