Citi Market Ops Resolution Planning/Special Projects Sr. Manager in New York, New York
Primary Location: United States,New York,New York
Education: Bachelor's Degree
Job Function: Operations
Shift: Day Job
Employee Status: Regular
Travel Time: Yes, 10 % of the Time
Job ID: 16034636
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop to are widely available to all.
This role is essential to ICG Operations successful delivery of its assigned Resolution Planning projects as well as a variety of Markets related re-engineering projects including out-of-currency trade processing and cost-effective electronic trade confirmation (ETC) processing. Projects will cover all asset classes and will vary in complexity from time-bound discrete tactical process improvements to strategic front-to-back re-engineering. In addition this role will serve as the team’s primary point of contact when its Director is unavailable.
The successful candidate will conduct workshops, conduct value stream mapping, solution identification and actively be involved in:
Refresh of the 2015 FMU playbooks;
Drafting of FMU Contingency implementation plans;
Further build out of the Account Transfer Feasibility Study;
2017 Resolution Planning submission
The role involves forming truly productive and collaborative partnerships with Operations colleagues in line functions to jointly draft and verify the various plans required to comply with our regulatory requirements.
The SVP will play a key role in leveraging the Resolution Planning preparation process to identify both improvement opportunities within the Resolution Planning process and the Operations and business processes that it’s reporting on. These improvement opportunities need to be clearly defined, scoped and most importantly achievable.
The environment is fluid and fast-paced; and all results are expected to be accurate, complete and delivered unambiguously.
Since 2012, Citi has submitted its annual Resolution Plans (aka, 165D or Living Will) to the FDIC/FRB. Each year the plans are further enhanced and ‘Operationalized’, in addition to incorporating responses and enriched content as defined by annually published Joint FDIC/FRB Guidelines. During our 2015 Resolution planning submission, Citi further enhanced its FMU chapters and delivered an Account Transfer Feasibility, which in turn resulted in a number ex-ante items that required to be initially addressed prior to 2016 year-end and continually developed throughout the next two years.
In addition, during the next five to seven months, Citi will transition its Resolution Planning submission preparation process from an annual “virtually” staffed project team to a “BAU” line process. During this time, the foundation will be built to not only enable a successful migration; but also to ensure that the firm’s plans are reviewed and updated as required by major internal or external triggers and/or on a quarterly basis.
The successful candidate will play a critical role as part of the ICG O&T Resolution Planning submission by working with business units to assist in the identification, prioritization and delivery of opportunities within the area.
In addition, this group has been involved in a variety of Market Operations strategic initiatives including the MSSB migration, decoupling dependencies on legacy retail based applications, resolving outstanding Vene Oil Warrants issues, re-designing the out-of-currency settlement-booking model for Fixed Income and Prime-Broker ETC cost saving initiatives.
Increase cross product knowledge and the associated front-to-back business processing life-cycles. Significantly strengthen knowledge of inner working of financial markets and their touch pint with Dodd-Frank. Opportunities to demonstrate ability to deliver complex programs, provide creative solutions to difficult Operational processing challenges, identify hidden cost-savings opportunities and to expand into more senior regional and global roles.
Perform analysis, problem definition and solution delivery for re-engineering initiatives associated with identified 2015 ex ante actions
Manage the delivery of 1 or more ex ante defined actions with a 12/31/2016 target date
Help to define and document opportunities for improvement in target areas
Work with Process Owners and Sponsors to ensure key processes are documented and are fully understood
Lead workshops to draft our Resolution Planning documents
Perform FMU process contingency analysis and future state modelling
Provide regular and accurate reporting of project progress, deliverables and anticipated outcome
Document Management using a combination of Intralinks, Sharepoint and WDesk.
Administer of various Resolution Planning meetings and prepare the associated agendas and subsequent minutes and summaries
Acts as the primary contact when the teams’ Director is unavailable
Solid practitioner level knowledge of financial products and basics of FMUs
Strong facilitator of workshops and meetings to engage and draw contributions from all contributors
Experienced influencer of people and comfortable interacting with all organizational levels
Good experience managing the people side of change to ensure buy-in and commitment to solutions implemented and overcome resistance
Experience managing project teams and motivating people to deliver without line management authority
Experience with data collection, sampling and measurement, validation and analysis
Self-starter, used to working under own initiative
Coaching/management of junior employees (direct team members and employees of the extended organisation)
Demonstrable an in-depth understanding of :
Financial Markets (Cash Securities) products
Trade Processing-Life Cycle
Middle Office and Operations daily processes and controls
Project management and business analysis
Basic accounting including “T” accounts
Communicates through words and actions an intense passion for, and commitment to, re-engineering and process improvements
Proficient in MS Word, Excel, PowerPoint
Extremely organized and detailed
Conceptual thinker and creative problem solver
Ability to produce quality deliverables that are complete and accurate
Ability to multi task
Ability to adapt to a fluid and changing environment
Excellent verbal and written communication skills
Strong educational background (including basic accounting) – preferably to degree level.
7-10 years of Financial Services or equivalent work experience.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Consistent with Citi values
Gives, and seeks, honest and open feedback
Respected and trusted
Sets clear objectives and develops plans to meet them
Balances the strategic with the day-to-day
Generates and implements new initiatives
Promotes exchange of learning, best practice and new ideas
Identifies patterns in data and makes appropriate decisions
Sets clear direction, markets benefits to gain and secure commitment
Uses reciprocal relationships for the common good
Generates pride in the team