Custody Product Manager jobs at Citi Group in Germany, Frankfurt

Job Purpose/Overview:

Overall objective for the Product Manager is to ensure Citi’s product complies with the highest standards, to confidently and convincingly communicate and explain Citi’s service offering and the intricacies of the market to clients. Work with our clients, internal and external business partners where we offer custody. Main focus of area will be Tax services, ensure best service, capture regulatory driven changes and Citi product developments are captured and embedded in the service working with Tax global product.

This Role is a “Controlled Function” Role as defined by the Central Bank of Ireland Reform Act 2010 and Principal Regulations 2011, and amending Regulations 2014, 2015.

Key Responsibilities:

• Leverage local knowledge of clients and infrastructures to optimize the outcome for Citi and for its clients. An ideal candidate has a strong understanding of the requirements of large institutional custody clients including Banks, Brokers, Global Custodians. Asset Managers, Asset Owners and other intermediaries. As a member of the German Custody team you will be responsible for the Tax related items in Germany, from existing service to further development of the Tax service offered. Knowledge of the local German Tax changes driven by local and EU rules and regulations. Asses impacts to Citi and its clients.
• Support new business growth and provide local support for opportunities (such as competitor intelligence, RFIs, RFPs, due diligence activities etc.), as well as high standard responses for AFME and Thomas Murray questionnaires.
• Support sales opportunities by management of client implementations and client onboardings.
• Put client needs at the forefront of what we do to provide the best-in-class service, understanding our clients’ needs and expectations for both Intermediaries as well as Investor clients. Acting as the escalation point for client related issues.
• Work with the operations team to eliminate root causes of services issues and client inquiries, working with regional management on product improvements and ensuring servicing and capacity problems are addressed.
• Introduce new products and/or improve product functions and features to meet client needs.
• Comply with risk, and compliance policies on a local, regional, and global level with timely and effective escalation and ensure successful audits both internally and externally.
• Represent Citi in the market and attend market meetings, with the aim of influencing the alignment of national legislation and the adoption of agreed regional/global market standards to foster harmonisation, through strong leadership in the local Industry associations and industry working groups which includes engaging with local digital and new technology initiatives. Maintain close relationships with the market regulators and the market infrastructures.

Experience, skills and capabilities

• Ability to assume local ownership of the German Tax custody product. Issues and scenarios will vary and the ability to react quickly to address, adjust and remediate is imperative.
• Relevant experience in local Tax services, securities clearing and settlement and extensive knowledge in capital markets, market infrastructures, T2S platform, as well as functional experience in marketing and product development.
• Ability to work under pressure and manage deadlines or unexpected changes in expectations or requirements. You will need to be comfortable working both in a supervised and unsupervised capacity, adjusting priorities quickly as circumstances dictate.
• Consistently demonstrate clear and concise written and verbal communication.
• Demonstrated analytical skills.
• Ability to work in a team-oriented environment.
• Ideally experience as Settlement Agent, Paying Agent, Lead Manager or other Agent roles in the context of Issuer Services.
• English and German language fluency.
• Consistently demonstrates clear and concise written and verbal communication skills.
• Bachelor’s Degree/University degree or equivalent experience.

Time Type:

By joining Citi you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

The Deputy Chief Audit Executive / Senior Audit Manager for the Citigroup Global Markets Europe AG legal entity (CGME) supports the delivery of Citi’s Internal Audit's (IA) risk-based audit approach for the legal vehicle. Reporting to the Chief Audit Executive (CAE) for CGME / Head of Audit for Germany & Austria and part of the IA Banking, International & Client (BIC) audit area, this is a senior level management position with the overall objective to support the CAE in providing timely, complete, high quality, and forward-looking assurance over the governance, risk management and internal control environment framework for the German and Austria Franchise.

The role will proactively support managing IA's relationships with key stakeholders including the Supervisory and Management Board of Directors, senior key stakeholders, regulators, and Internal Audit colleagues. Work closely with Product and Function IA management in ensuring Citi IA is the leading IA function in the financial services industry.

Critical thinking and executive presentation skills will be important requirements of the role as themes related to risks and issues across the franchise will be identified and presented to key stakeholders, such as senior management, the Audit Committee, regulators and external audit functions. The incumbent requires a wider ranging, yet detailed knowledge of technology processes, as well as a strong understanding of the fundamental risks associated with a large bank. The role will entail considerable co-ordination and development of resources to meet the requirements and will therefore also require strong people management and communication skills.

Responsibilities:

• Audit Plan: Supports the CAE for the coordination and delivery of high-quality, value-add multiple concurrent risk-based audit plans on time and to specification together with the assurance for the legal vehicles in Germany (CGME & CBNAF) and Austria. Ensuring that the delivery of audit reports are complete, insightful, timely, error free and concise. Confirms timely delivery of high-quality comprehensive regulatory and internal audit issue validation and where determined appropriate issue validation on other remediation actions.

• Together with the CAE, reports to the Management and the Supervisory Board on assurance delivered and provide insights. Responsible for assisting with the Governance and Oversight requirements related to Germany and Austria, working with the CAE to maximise the efficiency and effectiveness of IA resources.

• Taking into account emerging and established risks; industry best practises and external frameworks; legal entity and country-level regulatory requirements and an end-to-end view of the risks and controls that cross business functions, ensuring that the IA activity in Germany and Austria is sufficient and relevant to delivering timely assurance.

• Stakeholder Engagement: Supports proactive engagement with senior leadership and teams across the Franchise and wider Citi to provide credible challenge and positively influence Citi’s culture, ethical conduct, governance, risk management and control frameworks.

• Develop and maintain strong working relationships with teams both within the Franchise and the IA Banking, International & Client (BIC) team, as well as across IA Product and Functions teams globally. Leverage the feedback achieved from this to continually improve the definition and risk assessment of the audit universe as well as identify new and optimized ways of auditing the environment to maximize the insight achieved.

• Advises relevant management and supervisory boards and governance committees of updates on Citi’s IA strategy and other developments; presenting and gaining buy-in to forward looking risk based audit plans, reporting on key IA activities including key risk issues and their management and/or resolution; and providing timely assurance on culture, ethical conduct and governance, risk management and control matters.

• Regulatory Relationship Management: Supports and contributes to managing IA’s regulatory relationships in Germany and Austria resulting in constructive two-way dialogue, trust in the IA function and general reliance being placed on the assurance delivered; appropriately assessing risk when business decisions are made and understanding the significant conducts risks specific to their product or function and individual role in relation to the regulations.

• Coordinate with external parties to support Citi’s responses for regulatory compliance, validation of regulatory issues and ensuring timelines are met and regulatory intent is addressed.

• IA Team: Assists in attracting, motivating and developing a highly effective, diverse, talented and trusted team. Work with other IA Senior Leaders to maximize the efficiency and effectiveness of IA resources, taking into consideration the experience and location of the team, as well as leveraging different audit approaches and best practice. Identify and develop talent, providing long-term career opportunities both within IA and across other parts of Citi.

Experience & Qualifications:

• Suitable Internal Audit experience, preferably including the German and/or European market and regulatory environment. International experience is preferred within highly respected, diversified and complex institutions

• Knowledge of MaRisk and a degree of familiarity with the financial sector regulations. Should have a good level of experience of liability issues, the use of different legal vehicles, standard documentation and other legal risks

• Proficient in Risk and Control analysis and audit concepts, governance, the design and operation of risk management and control frameworks in leading international organisations.

• Demonstrable product knowledge with a broad experience of the management of regulatory requirements and associated regulatory interaction

• Ability to quickly comprehend the full risk implications of complex issues, escalate to the appropriate level and provide advice and pragmatic commercial solutions

• Strong leadership skills including a track record of identifying and developing world class talent

• Experience in leading and in influencing direct teams together with resources that sit within the other IA products and function areas

• Executive presence and expert in building and maintaining strong open relationships with senior stakeholders, effective negotiation skills, strong communication, presentation and relationship management skills being able to exert influence and providing credible challenge in a constructive manner

• Outstanding performer, open minded, resilient, agile, energetic, self-starter, articulate and empathetic whilst being confident to deliver opinions to bring about positive outcomes

• Bachelor’s degree/University degree; Holder of a relevant professional qualification e.g. CA, CPA, ACA, CFA, CISA or CIA

Time Type:

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The successful candidate should have a proven track record in acquiring new clients, originating new business, client coverage skills to deepen relationships, with ability to call at the CEO/CFO level. Strong corporate finance, credit, and transaction execution skills are required. Corporate and Commercial Banking experience is preferred, with good knowledge of Investment Banking products. Prior banking experience in Germany with strong knowledge and connectivity in the local market.Responsibilities:

• Develops new relationships and acquires new customers for the bank in Germany
• Calls on clients to deepen relationships and proactively owns, responds to, uncovers and anticipates future needs, roadblocks or risks and expectations
• Introduces solutions to clients in building and strengthening an effective portfolio
• Works with product specialists and subject matter experts to structure innovative and customized solutions that meet clients’ individual needs
• Works closely with Case Manager on the on-boarding and retention of clients, ensuring the appropriate “Know Your Client” (KYC) and other compliance deliverables are met
• Identifies cross-sell opportunities to deepen and increase share of wallet
• Maximizes client experience by proactive sharing markets updates, trend and intelligence
• Drives innovation in the solutions we provide clients and further developing our business where necessary and appropriate
• Execution of strategic initiatives launched centrally at all levels
• Networks with clients to identify avenues for new business opportunities
• Administrate the credit relationship of the client, coordinating and supervising the entire process, ensuring the proper application of policies and institutional processes
• Ensures compliance with regulatory requirements and Citi's policies / guidelines at all time
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency

Qualifications:

• Demonstrable relevant experience (10 years or more)
• Sound knowledge of banking products and process as well as a track record of providing sound banking and financial advice and solutions to clients
• Demonstrates advanced credit skills; structures more complex deals, including global transactions
• Demonstrates an expert level of Early Warning Detection skills
• Demonstrates expert level credit skills; capable of structuring all credit deals and guiding staff through the credit deal approval process
• Demonstrates advanced Citi’s credit-process and credit-appetite knowledge
• Ability to work effectively in team setting
• Ability to coordinate multi-functional teams to provide an exceptional client experience
• Excellent interpersonal, communication and influencing skills (e.g. negotiation, consultative skills, leadership)
• Ability to work under pressure while making sound decisions
• Highly focused, able to rapidly identify key priorities, clearly communicate the priorities
• Accountable for significant direct business results or authoritative advice regarding the operations of the business.
• A proactive approach in looking for ways in strengthening business relationship with clients, delivers a simple, secure and seamless client experience
• Ability to embrace new technology and understand the role digital plays in the experience we deliver for our clients
• Able to quickly adapt priorities based on the latest data insights
• Fluency in English and German required (written and spoken)

Education:

• Bachelor’s/University degree, Masters degree preferred

This Role is a “Controlled Function” Role as defined by the Central Bank of Ireland Reform Act 2010 and Principal Regulations 2011, and amending Regulations 2014, 2015

Time Type:

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The successful candidate should have a proven track record in acquiring new clients, originating new business, client coverage skills to deepen relationships, with ability to call at the CEO/CFO level. Strong corporate finance, credit, and transaction execution skills are required. Corporate and Commercial Banking experience is preferred, with good knowledge of Investment Banking products. Prior banking experience in Germany and solid understanding of the Industrials sector is preferred, with strong knowledge and connectivity in the local market.Responsibilities:

• Develops new relationships and acquires new customers for the bank in Germany
• Calls on clients to deepen relationships and proactively owns, responds to, uncovers and anticipates future needs, roadblocks or risks and expectations
• Introduces solutions to clients in building and strengthening an effective portfolio
• Works with product specialists and subject matter experts to structure innovative and customized solutions that meet clients’ individual needs
• Works closely with Case Manager on the on-boarding and retention of clients, ensuring the appropriate “Know Your Client” (KYC) and other compliance deliverables are met
• Identifies cross-sell opportunities to deepen and increase share of wallet
• Maximizes client experience by proactive sharing markets updates, trend and intelligence
• Drives innovation in the solutions we provide clients and further developing our business where necessary and appropriate
• Execution of strategic initiatives launched centrally at all levels
• Networks with clients to identify avenues for new business opportunities
• Administrate the credit relationship of the client, coordinating and supervising the entire process, ensuring the proper application of policies and institutional processes
• Ensures compliance with regulatory requirements and Citi's policies / guidelines at all time
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency

Qualifications:

• Demonstrable relevant experience (10 years or more)
• Sound knowledge of banking products and process as well as a track record of providing sound banking and financial advice and solutions to clients
• Demonstrates advanced credit skills; structures more complex deals, including global transactions
• Demonstrates an expert level of Early Warning Detection skills
• Demonstrates expert level credit skills; capable of structuring all credit deals and guiding staff through the credit deal approval process
• Demonstrates advanced Citi’s credit-process and credit-appetite knowledge
• Ability to work effectively in team setting
• Ability to coordinate multi-functional teams to provide an exceptional client experience
• Excellent interpersonal, communication and influencing skills (e.g. negotiation, consultative skills, leadership)
• Ability to work under pressure while making sound decisions
• Highly focused, able to rapidly identify key priorities, clearly communicate the priorities
• Accountable for significant direct business results or authoritative advice regarding the operations of the business.
• A proactive approach in looking for ways in strengthening business relationship with clients, delivers a simple, secure and seamless client experience
• Ability to embrace new technology and understand the role digital plays in the experience we deliver for our clients
• Able to quickly adapt priorities based on the latest data insights
• Fluency in English and German required (written and spoken)

Education:

• Bachelor’s/University degree, Masters degree preferred

This Role is a “Controlled Function” Role as defined by the Central Bank of Ireland Reform Act 2010 and Principal Regulations 2011, and amending Regulations 2014, 2015

Time Type:

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This is a fixed-term role.

Due to the scale of responsibilities and the evolving nature of the entity under the Single Supervisory Mechanism of the ECB, the jobholder will be a flexible, results orientated individual with the ability to deal with ambiguity and a diverse range of businesses and information simultaneously.

The incumbent must be capable to work in a fast-paced matrix organization with moderate supervision, and with colleagues and stakeholders spread across the Europe Cluster.

The role demands a strong work ethic, analytical problem solving and the person should have a high level of integrity to deal with confidential data and be able to demonstrate initiative and leadership.

Entity Strategy

• Support the BUGM within the Business Execution Office in defining and framing strategic initiatives

• Help prioritize and drive the execution of key strategic entity initiatives

• Foster a common purpose across businesses and functions within CGME, demonstrating particular consideration for the firm's reputation,

• Support the BUGM on advising of the impact of programs, strategies, regulatory actions and provide financial and strategic input/analyses on issues affecting the organization

• Support preparation of several meetings, ensure the minutes and/or action points are accurately recorded and tracking of follow-up items takes place

• Prepare regular management reports on the Business Execution Office’s activities

• Support the BUGM in preparation of the governance reports and presentations to CGME’s governance bodies (incl. as needed elaboration of certain topics, talking points and other materials on an ad-hoc basis and as frequently needed to ensure adequate representation of the entity)

• Support Business Execution Office team’s work with global functions to deliver on the entity strategy to drive revenue growth, cost optimization and governance initiatives under supervision of the BUGM within the CGME Business Execution Office

• Support the preparation of strategic entity documentation such as the CGME Strategic Plan, Entity Scorecard, several business reviews and initiatives.

• Forster the “One-Citi” approach to drive client orientation throughout the organization

Entity Governance & Controls

• Support the BUGM in the Business Execution office in ensuring that the business activities of CGME are compliant with all internal policies and external regulatory standards, applying sound ethical judgment regarding personal behavior, conduct and business practices.

• Ensure that CGME governance & control frameworks are complimentary to Citi’s regional and global standards, also ensuring escalation procedures are adhered to.

• Support internal and external audit/compliance reviews on a CGME entity level, provide support by preparation of materials and addressing concerns arising from these reviews.

• Perform relevant controls owned by the Business Execution Office and manage relevant issue remediation exercises as required incl ownership of audit closing memos.

• Work in conjunction with team and CGME functions and businesses to ensure that all regulatory changes which are impacting CGME will be adequately implemented in a timely manner.

• Take ownership of allocated initiatives and drive them successfully to completion.

Business Management & Regulatory Change

• Drive regulatory remediation programs initiated by the CGME Management Team

• Provide credible challenge for all aspects of the Project Management Office (PMO) process, including: Red/Amber/Green ratings, Key Performance Indicators, status update, adherence to dates and deliverables, resource constraints, dependencies within and across significant programs, etc

• Support the BUGM in the Business Execution office in preparation of materials for critical regulatory responses and correspondence, coordinating senior leadership involvement, as necessary.

Risk & Controls – Conduct Risk

• Lead the conduct risk management framework and process implementation efforts of CGME.

• Support the global Conduct Risk framework implementation for all CGME and Germany related requirements in cooperation with the responsible functions.

• Perform monitoring of conduct risk metrics and annual update of the CGME Conduct Risk Communication Plan and reporting of such to the relevant governance bodies.

• Identify best practice approaches to conduct risk management for consideration by business lines in alignment with regional working groups and initiatives.

• Responsible for setting CGME’s conduct risk management strategy, stakeholder management, governance approvals and documentation review.

• Appropriately assess risk when decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

• Understand the significant conduct risks specific to their product or function and individual role at CGME and comply with the roles and responsibilities defined by Citi’s policies and subordinate policy documents on conduct risk management.

Development Value:

• Unique opportunity supporting regional Business Execution office team and the wider entity management team.

• Opportunity to develop a strong understanding of entity management, governance and control requirements.

• Growth opportunity into a more senior business manager within Europe.

Qualification & Experience:

• University degree

• Master in Business Administration, Finance or in a related discipline is beneficial

• At least 6+ years of experience within a fast paced business environment, preferably in a global/complex/matrix organization

• General knowledge of banking products and services

• Awareness of market needs and competitive environment

• First experience in strategic planning and entity governance

• First experience in project and process management

• Chartered Account (Wirtschaftsprüfer) background preferred

Skills & Competencies:

• Team player with ownership mentality.

• Self-starter, highly motivated and willingness to assume responsibility.

• Experience and demonstrated track record of collaboration across multiple, cross-enterprise projects /initiatives with proven outcomes.

• Strong analytical and problem solving skills

• Good project management, organizational and time management skills

• Strong communication and writing skills across all organizational levels

• Ability to effectively plan, prioritize and manage own workload within tight deadlines

• Ability to lead and deliver results with attention to detail

• High performance and motivation level under pressure

• Experience and ability to run cross-enterprise projects / programs with proven outcomes

• Self-starter, highly motivated and willingness to assume responsibility

• Team player with strong ownership mentality

• Good stakeholder management and interpersonal skills with the ability to influence and build consensus

• Ability to develop relationships with peers across various functions

• ‘Process improvement’ mindset, willingness to challenge processes and seek out answers

• Ability to quickly grasp and master new concepts / requirements and related product / functional knowledge

• Sensitive management of confidential, strategic, personal, and business critical information

Time Type:

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