AVP- Custody Product Developer, Settlements (Hybrid)

The Custody Global Product Development (GPD) team focuses on developing custody products for the Custody business lines, both Hub & Domestic. Citi custody provides settlement, custody, and Settlement solutions to investor clients through a global network of sub custodians.  The domestic business provides clearing, settlement, custody & asset servicing to global financial institutions through a proprietary branch network spanning Asia, EMEA and the Americas.

Job Background/context:

The GPD Settlements Product Development team work closely with business, legal, risk, technology, and operations partners for Custody, in identifying and implementing product changers/enhancements in line with business, regulatory and market mandatory requirements.

Actively participate in industry forums to ensure that Citi is kept abreast of market changes and that Citi views are represented.

Key Responsibilities:

• Agree product development priorities as part of the annual plan with Custody business owners

• Understand, communicate, and implement global product strategies with primary focus on product extensions

• Work closely with operations and technology to create detailed Business Requirements Documentation defining core product functionality based on client demand, market/regulatory requirement, operational efficiency or long-term strategic objectives

• Ensure products developed are implemented in line with business requirements

• Work with other internal partners (risk, legal, compliance etc) to ensure all new product developments meet internal business approval requirements

• Act as senior point of escalation for the Custody businesses for all product related issues

• Support relationship and sales teams acting as product expert when discussing new opportunities with clients

• Keep abreast of market trends and client needs working closely with clients and coverage organisations.

• Review and influence/lobby local markets to follow industry standards re transparency and key data elements. Ensure Citi platforms can support, and complement said enhancements

• Participate in relevant industry governing bodies where needed

• Work with all Proxy vendors on our Proxy offering, market role out & pricing

Development Value:

The role will involve obtaining a detailed understanding of Citi’s Custody businesses from a product and client base perspective. Working alongside different parts of the bank from the individual branches and regional hubs to understand new market requirements whilst liaising with clients to understand how these changes will fit in with client demand/requirements. In addition, candidates will develop a strong understanding of the risk and legal implications of relevant product developments to ensure that such risks can be quantified and mitigated where possible

Knowledge/Experience:

• Strong securities background with specific focus on Settlements

• Good inter-personal and communications skills

• Proven client facing experience beneficial

• Background in operational processes, technology platforms and front office activities

Skills:

• Ability to analyse different processes and identify inherent risks

• Good inter-personal and communications skills

• Both a strong team player plus self starter

• Creative and resourceful problem solving

• Proven project management and implementation skills

• Strong influencing skills and ability to interact with various levels of management

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