Citi Product Management: Treasury Trade Solutions: VP, USD Clearing-NY, NY in New York, New York
Primary Location: United States,New York,New York
Education: Bachelor's Degree
Job Function: Product Management
Shift: Day Job
Employee Status: Regular
Travel Time: Yes, 10 % of the Time
Job ID: 16063179
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 at http://www.citigroup.com/citi/about/mission-and-value-proposition.html explains what we do and Citi Leadership Standards at http://www.citigroup.com/citi/about/leadership-standards.html 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 are widely available to all.
Global Payments is a key strength and differentiator for Citi. The Global Payments business intermediates and processes flows generated by Corporates, Banks & Financial Institutions and Governments. Overall market size is $40 billion in revenues with Citi accounting for $1.5 billion and market share of 4-5%. Global Payments serve market segments leveraging flagship brands and a standardized set of capabilities. Clearing and FI Payment is a global product that sits within Global Payments
Clearing & FI Payments products provide core payment services to our Financial Institution clients for the clearing of their treasury and commercial payments globally. Clearing & FI Payments constitutes approx. 25% of our Global Payments business in revenues. The business objective is to maximize the penetration of our FI clients’ payment flows in major clearing currencies and in cross-border payments, while building new product capabilities to capture flows in world’s developing currencies such as RMB. Citigroup is uniquely positioned by way of our global capabilities and geographic reach to exploit this opportunity.
USD Clearing is the flagship product within the Clearing and FI Payments business contributing 75% of the revenue ($300MM), processing over 2 trillion in value daily, and holding over 14% of the market and holds a very strong track record in delivering revenue growth year on year. Our USD Clearing product is a truly global product with clients in over 130 countries and a global operating model to support clients and efficient processing across all time zones.
Help define and execute strategy for USD Clearing business
Develop and enhance product offerings from capabilities through client experience to address client/market needs and ensure competitiveness
Initiate and drive sales campaigns and revenue initiatives
Provide sales training
Issue management, and pricing recommendations
Manage and maintain product governance framework (PAP)
Preparation of marketing materials and execution of brand marketing plan
Understands and proactively manages risk and compliance in respective area of responsibility
Support client pitches and proposal management
Day-to-day responsibilities include working with the regional product and sales teams to define commercial and treasury payments product strategy and pertinent product attributes for clients in each region. The candidate will also work with functional partners including Technology, Operations, Legal, Compliance, and Risk to ensure end-to-end seamless delivery of the USD Clearing product solutions.
This broad role will provide the prospective candidate with an excellent opportunity to work at the heart of one of the most significant and visible Payments products, offered to our Financial Institution clients by the TTS business. This key role will give the candidate exposure to a globally managed product with supporting functions and key partners at all level of organization (global/regional/local), and clients across all geographies operating in a truly cross-border minded manner.
The ideal candidate will have 5-8 years of transaction banking experience in the Payments business, preferably existing knowledge of high value clearing
P&L experience would be a plus
Self-motivated, detail oriented and has the drive to succeed. Dedication to the timely delivery of assigned tasks
Strong product development background and proven track-record of launching new products along with robust project management skills
Excellent communication skills, and ability to influence others
Ability to navigate complex global organization, and work with/lead cross-functional teams
Excellent Microsoft office skills (PowerPoint, Excel, Word)
Business focused and ability to think strategically
Strong financial & analytical skills to understand & tackle the challenges of payments business
Must have excellent verbal and written communication skills
Must have very strong interpersonal skills and be able to influence people
Good project management skills to deliver results
Ability to multitask and work to tight deadlines
- Undergraduate degree required (Science, Business, Economics or Finance preferred), MBA preferred