SVP, Market Operations – Payment Strategy

Organization Overview:

Citi Markets Operations is currently at a pivotal point in its evolution and journey to implement a target operating model. We take pride and are passionate about our People and our culture. We are invested in our People and their development. We are transforming and simplifying our operating model, creating an exciting environment which encourages diversity of thought and inclusion.

We are a dynamic, global, and diverse Organization, with a presence in over 60 Countries; covering all front post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative& Commodities Operations. We support an extensive range of Capital Markets products and services including Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market, Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and Syndicates where we support both FI and EQ new issues and IPOs.

Our Operations groups are core to the success of the Markets business and have significant impact across the lifecycle of a trade. We partner extensively with a range of internal stakeholders including Front Office Sales and Trading Desks, Compliance, Legal, Finance and HR; alongside having significant interaction with our external client base, playing a key role in the overall client experience. We have a Client relationship group, dedicated to overseeing the Organizational service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first-class experience when doing business with Citi.

Our Business Intelligence and Process Re-engineering group works alongside our Operations teams delivering automation solutions to solve for operational challenges. We partner with Citi’s innovation labs to drive optimization, and overall play a pivotal role in enabling us to transform to achieve our target operating model.

Our Technology partners develop and implement a wide range of applications that support the Operations, Change, Design and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risk, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning.

Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace. We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls; to protect our clients, the firm, and our reputation.

We work closely with our external global peers, partners, and regulators, and play an integral part in leading an agenda at the forefront to optimize and streamline processes and drive strategy across our industry.

Responsibilities:

The role encompasses a senior-level oversight of large payments control, ensuring timely and robust management of significant outgoing payments. This includes contributing to the development of strategies for risk reduction in payments and funds movement, collaborating with various teams and regions.

This will be a key role in supporting the Payments Governance and Control Framework, participating in global Operating Committee decisions. They role will be part of the LAPC BAU support team, which handles payments data analysis, identifies and documents payment flows for new or modified products, and ensures robust daily payment disposition processes.

Core Responsibilities

• Senior approval responsibilities for Large Payments Control, ensuring robust and timely control management for large payments leaving the firm
• Input into broader payments and movement of funds risk reduction strategy with both a cross regional and functional focus
• Partnership with and support of Payments Governance and Control Framework within Markets Operations including input into global Operating Committee decisioning.
• As part of Markets Ops LAPC BAU support team, will be responsible for Payments Data provision and analysis, identification & documentation of new or amended product payment flows and ensuring robust processes and procedures for daily payments dispositions.

Transformation to Target State

• Review our suite of controls and suggest change to uplift the risk profile throughout the Organisation and its products
• Drive standardization of controls across regions and suggest opportunities for harmonisation across teams
• Implement plans and execute vs milestones ensuring we meet deadlines
• Ensure our infrastructure and tools meet the needs in order to manage risk. Develop and suggest operating model changes in order to pivot the operations Organization towards digitization and a robust control environment
• Driving and supporting the delivery of strategic platform re-engineering initiatives, with conscious intent to standardize and industrial flow, reducing manual touch points and aligning tech delivery vs. business goal and wallet share optimization
• Supporting the implementation of initiatives to continuously improve Straight Through Processing (STP) rates

Additional Responsibilities

• Provide Risk/Business Analyst and Project Management support for global projects related to payments and funds movement, focusing on identifying and documenting regional activities.
• Identify applications involved in payment and funds movement, assess their control environments, and prioritize them based on risk for any necessary improvements.
• Determine the impact of SOX and MCA (Manager Control Assessment) activities and any required updates.
• Conduct root cause analysis of payment-related operational risk events, propose solutions, and identify any remaining gaps requiring further attention.
• Support Operations Subject Matter Experts in defining key business requirements for identifying payment and funds movement flows. This includes identifying and documenting crucial data elements within processing systems to enable rule-based controls for managing large and unusual payments.
• Manage individual project responsibilities, including setting milestones, managing tasks and actions, coordinating efforts, and executing plans within deadlines and stakeholder expectations.
• Support and manage ad-hoc business queries and requirements.
• Cultivate and maintain strong relationships with business and technology stakeholders, actively participating in working groups, steering committees, and workshops.
• Proactively identify and manage project risks, escalating issues as needed.

Qualifications and Skills

• Bachelor's/University degree, Master’s degree preferred
• 10 years of experience as a Risk-focused Business Analyst/Program Manager within the Financial Services/Investment Banking industry.
• Strong knowledge of Markets Operations businesses/functions is essential. Familiarity with payments/movement of funds workflows and controls is highly beneficial.
• Ability to work independently, multi-task, prioritize effectively, and demonstrate strong attention to detail.
• Proven ability to lead conference calls, prepare meeting agendas and materials, and produce minutes.
• Exceptional organizational skills, self-motivation, and a proactive approach.
• Excellent analytical and problem-solving skills, with the ability to clearly document findings and develop solution proposals.
• Advanced proficiency in Excel, PowerPoint, and process mapping tools.
• Ability to thrive in a fast-paced environment and deliver under tight deadlines.
• Excellent communication and stakeholder management skills, including the ability to communicate effectively with diverse audiences and facilitate discussions.
• A curious and inquisitive mindset, with a willingness to ask questions, challenge existing processes, and seek out answers.

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

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