Citi Prime Finance MO Cash Collateral Supervisor in Belfast, United Kingdom

  • Primary Location: United Kingdom,Northern Ireland,Belfast

  • Education: Associate's Degree/College Diploma

  • Job Function: Operations

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: No

  • Job ID: 17071051

Description

Job Background/context

The Prime Finance department consists of four areas; Client Services, Inventory and Collateral Management, Trade Support and Control.

This middle office role falls within the Client Service group providing support to the Stock Lending and Equity Finance trading desks across multiple regions and it involves the daily management of Stock Lending transactions to both Hedge Fund and Corporate clients.

Job Purpose

Responsible for supervising the daily processes of the middle office to ensure the Stock Borrow / Loan clients are collateralised in line with Citi’s credit requirements and the daily controls are followed by the team to prevent risk to the firm.

Provide leadership to subordinates to achieve the department goals via the setting and monitoring of individual goals and performing associated performance management reviews. This is a high profile role with exposure to large volumes and high value items.

Key Responsibilities

Client

•Act as a 1st level escalation contact for both external clients and internal teams, resolving or escalating issues to senior management appropriately.

•Monitor incoming emails to the group to prioritise client and urgent queries against daily deadlines.

•Monitor daily workflow for a team of approx. 12 to adapt client coverage against volumes. Specifically deadline driven with multiple currency, stock and bond cut offs throughout the day.

•Process daily collateral movements, exposure management, month end billing and general client support when required.

•Work closely with the front office on new client relationships ensuring account setup and related strategy are implemented into the team.

•Actively develop relationship with key Clients by hosting client calls to review current processes and identify improvement areas.

•Enhance our client experience by driving process improvements to increase the automation of daily processes.

•Monitor settlement exception flow for the team to ensure timely turnaround of client related issues.

Control

•Supervisor day to day operations of the MO team completing end of checks in line with our audit requirements.

•Monitor collateral bookings and substitutions prior to any corporate action to ensure no financial loss to Citi.

•Perform daily post reconciliation controls checks and manage the reporting of aged items to control on a monthly basis.

•Perform approval checks for cash collateral and billing payments, stock and cash payment instructions and billing PnL adjustments to CCY deadlines. Approval limits set at $100m.

•Work closely with Prime Finance control team to provide accurate information for internal and external audit requests

Culture

•Proactively advertise departmental achievements on a weekly basis.

•Facilitate cross training to ensure information and best practises are shared throughout the department.

•Raise awareness of site wide events and drive change through annual Voice of the Employee results to continual improve employee experience.

Cost

•Approval and checker responsibility for all Stock lending billing and fee allocation that directly impacts the desk PandL

•Supervision of offshore billing team in Chennai and weekly reviews

•Monitoring and reporting of all fail management including pre-settlement deliveries and post settlement reconciliation escalating all fails with desk heads and reporting directly to senior management.

•Budgetary reviews and involved in priority discussions for system changes and enhancements. Will have challenging goals around re-engineering and process improvement.

People Management

•Set SMART individual goals and assist with defining the department goals on an annual basis.

•Evaluates subordinates performance to recognise and retain the best talent, delivering feedback through 1-2-1 meetings and semiannual appraisals.

•Work with HR to lead new or additional resourcing for the team. This will include the advertising, interviewing and selection of candidates.

•Responsible for all on the job training tracked to a skills matrix and all attributed appraisals and development discussions.

•Seen as a technical expert and point of contact for technology

Development Value:

•Development of people and performance management skills by supervising and mentoring managers of others.

•Develop knowledge of the project prioritization process learning to drive change within the business.

•Development of communication skills and exposure to senior management by providing management updates at a regional level and participating in site wide meetings.

•Develop knowledge on the team’s strategies and how to influence functional decisions that have a direct impact on the business.

•Build business relationships throughout the organization.

•Mobility possibilities into Prime Brokerage area.

Qualifications

Knowledge/Experience:

•Advanced knowledge of life-cycle of trade processing for Equity and Fixed Income products including trade capture, PandL, settlement and reconciliations for the Stock Borrow / Loan product area.

•Advanced understanding of the portfolio valuations and related collateral movements to manage exposure.

•Customer service experience including providing feedback and complaint handling.

•Experience of applying technical knowledge of concepts and procedures to resolve complex issues.

•Experience of working in a deadline driven environment.

•Extensive years supervisory experience, including day to day supervision of a small team, staff resourcing and performance management.

•Work experience within the Financial Services Industry is a benefit.

Skills /Competencies:

•Computer literate - Ability to quickly grasp several in house systems including Microsoft office applications.

•Communication – Strong communication and diplomacy skills to communicate effectively across the organization.

•Problem solving - Resolve complex problems where the analysis of situations or data requires an in-depth evaluation of basic procedures and industry standards.

•Planning and organising – Ability to work independently and multitask under pressure

•Attention to detail – Diligently attends to details and pursues quality in accomplishing tasks.

•Leadership – Ability in developing and empowering others to accomplish their goals and resolve issues.

•Proactive - Identifying situations that could result in new business and developing recommendations tailored to the client.

•Diverse - demonstrate an appreciation of a diverse workforce by using differences to add value to decisions or actions for organisational success

Qualifications:

•Degree qualification or equivalent, with Financial Services focus.

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Valuing Diversity:

Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.

Citi is an Equal Opportunities Employer