Senior Vice President of Collateral Optimization

2 weeks ago

Jersey City, New Jersey, United States Citigroup Inc Full time
Organization Overview:

Markets Operations embodies the evolution and transformation of Operations within the Finance Sector, creating a distinctive approach to delivering our products and solutions. We take pride in our People and our culture, investing in your experiences, development, and in fostering a successful career at Citigroup. We are modernizing our operations, allowing for flexibility and creating an engaging environment that promotes diversity of thought and inclusion.

As a dynamic, global, and diverse Organization, we have a presence in over 60 countries, encompassing all post-execution Operations teams, including product-aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative, Clearing, and Commodities Operations. We support a comprehensive range of Capital Markets products and services, including Fixed Income (FX, Rates, Credit, Muni, Cash, and Derivatives), where Citi consistently ranks among the top three market players, and Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivatives, Clearing, and Foreign Exchange Prime Brokerage), where we are committed to expanding our capabilities and services.

Our Operations teams are central to all activities at the Firm, significantly impacting the lifecycle of a trade. We collaborate extensively with various internal stakeholders, such as Front Office Sales and Trading Desks, Compliance, Legal, Finance, and HR, while also engaging with our external client base to enhance the overall client experience. Our dedicated client relationship group oversees service performance and strategic partnerships with top-tier clients, ensuring they receive a first-class experience when engaging with Citi.

Our roles involve maintaining a robust control environment in a fast-paced workplace. We adhere to global regulations and internal policies, proactively identifying opportunities to mitigate risk through continuous evaluation of our controls, thereby protecting our clients, the firm, and our reputation.

We collaborate closely with our global peers, partners, and regulators, playing a crucial role in leading initiatives aimed at optimizing and streamlining processes while driving strategy across our industry.

Team/Position Overview

The Collateral Optimization Operations team within Markets Operations is a newly established group focused on delivering top-tier capabilities in collateral management, inventory management, risk management, and collateral efficiency.

This team supports global Markets businesses across various products, regions, and divisions, engaging with a wide range of stakeholders. The primary objective is to provide efficient, controlled, and scalable collateral optimization, facilitating cost reduction and capacity growth.

The Eligible Collateral Schedule negotiations team is responsible for negotiating eligible collateral profiles for uncleared derivatives, encompassing both bilateral and triparty arrangements.

This group maintains and updates negotiation templates to ensure compliance with applicable regulations, aligning schedules with credit risk tolerances, collateral optimization goals, and operational capabilities.

Transformation:

The Collateral Optimization Program for Markets represents a multi-year investment initiative with a clear transformation objective. The successful candidate will play a pivotal role in fostering collaboration across groups, developing and reviewing requirements, establishing a target operating model, designing robust processes, and implementing new platforms.

Key Responsibilities:
  • Development of New Function: Ensure processes are well-designed and implemented, incorporating sound governance, procedures, workflows, and controls.
  • Provide Best-in-Class Client Service: Engage regularly with clients to facilitate a seamless experience in negotiating and executing eligible collateral schedules.
  • Drive Key Transformation Initiatives: Lead and deliver enhancements that drive risk reduction, cost efficiency, client service excellence, and revenue opportunities.
  • Work Effectively with Citi Stakeholders: Collaborate closely with key groups such as Legal, Operations, Technology, Client Onboarding, Markets businesses, and risk functions to meet their requirements regarding ECS negotiations.
  • Demonstrate Deep Knowledge: Exhibit expertise in collateral definitions and regulations related to uncleared derivatives margin regulations.
  • Implement and Maintain Negotiation Playbooks: Develop training materials to facilitate efficient negotiation of ECS globally, including updates following changes to requirements from various stakeholders.
  • Robust Control Environment: Identify trends, synergies, and weaknesses across products, regions, and teams, recommending and implementing control enhancements while promoting best practices and strong risk governance.
People & Culture Agenda:
  • Champion Diversity and Inclusion: Support a work environment that enables our People to thrive and excel.
  • Promote a Culture of Continuous Improvement: Cultivate a robust service and control environment.
  • Coaching and Mentoring: Develop our talent and support their growth.
Skills & Qualifications:
  • BA/BS degree preferred.
  • 5+ years of experience in Agreement Management, CSA and Eligible Collateral Schedule Negotiations, Client Onboarding, Derivatives Confirmation Drafting, Collateral and Margin Management, with a strong understanding of uncleared margin regulations, securities products, practices, risks, and regulations, preferably at a large financial services firm.
  • Familiarity with triparty collateral management platforms.
  • Experience in a sensitive client-facing role with a strong client service mindset.
  • Logical thinker with strong problem-solving skills, capable of understanding and articulating the rules governing ECS negotiations.
  • Attention to detail is crucial, as minor differences in contract data or wording can significantly alter the meaning of data values.
  • Ability to write clearly and concisely, presenting ideas and proposals to senior decision-makers without technical jargon.
  • Demonstrate sound judgment and a strong risk management mindset through the implementation of effective controls and processes.
  • Innovative, energetic, collaborative, proactive, and influential; a leader who can positively impact both strategic and tactical delivery.
  • Ability to interact effectively with subject matter experts across various domains, eliciting information from users with diverse requirements and limited process knowledge to support ECS negotiations within the margin ecosystem.
Job Family Group:
Operations - Transaction Services

Job Family:
Securities and Derivatives Processing

Time Type:
Full time

Primary Location:
United States

Salary Range:
Competitive

Citi is an equal opportunity and affirmative action employer. Qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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