Citi Network Manager in Dublin, Ireland
Primary Location: Ireland,Leinster,Dublin
Other Location: United Kingdom,Northern Ireland,Belfast
Education: Bachelor's Degree
Job Function: Product Management
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 17050417
Custody and Fund Services (CFS) is a leading provider of custody and fund administration, middle office and fiduciary services to financial institutions, public sector clients and corporate clients around the world. With a global network spanning 96 countries, we are uniquely qualified to service clients with local and cross-border interests and provide integrated services and management.
A global network of 105 countries is an industry leading position for Citi. 61 of the 105 countries covered by our Global Custody offering are served by our proprietary network and the remaining third party agents. Citi has the largest proprietary network in the world.
The role is the role of a Network Manager (NWM), representing the Global Custodian and aims at providing regulatory and commercial oversight. The geographic focus of the NWM will be EMEA branches.
The role also has a global focus from a project management perspective; including key LV migrations, key Citi corporate and regulatory projects.
This role is located in Belfast/ Dublin.
The role has several strategic objectives:
Ensure all branches across proprietary and third party network are held against the same high standards and this is documented with oversight and controls consistently. These controls will include due diligence studies and service reviews.
Ensure similar controls to new agent selection and migration of portfolios.
In a regulatory capacity, face off to regulators and market infrastructures, representing Citi in multiple markets including NPC.
Serve as an escalation point for Global Custody clients and staff with issues that involve the network of branches, affiliates and agents.
Lead the compliance with new regulation and rules, understand implications as they are emerging and drive change in requirements and processes.
Lead key network projects globally; regulatory (i.e. CASS, MIFID) and/or corporate/commercial (i.e. vendor management) nature.
The reporting line for the role is the Global Network Management Head.
On-going management of proprietary and 3rd party agent network (across all sub-custodians) for dedicated set of markets. Responsibilities will include:
1) Due diligence
• Complete annual due diligence on own set of sub-custodians
• Conduct on-site due diligence visits, as required for the same set of sub-custodians
• Ensure appropriate legal and business review and sign off of all documentation
• Participate and manage 17f5 and 17f7 global processes for all sub custodians
• Identify areas of improvement, document action plans and work with all necessary parties towards completion
• Work with external and internal auditors to demonstrate strength of due diligence processes
• Face off to multiple regulators and market infrastructures representing Citi
• In NPC markets, assume a potentially single-handed role for liaising with regulators and CSDs
2) Commercial – Service reviews
• Work with own set of sub-custodians to conduct annual service reviews
3) BAU Management and Communications
• Provide the agent banks with a single point of contact and manage relationships with Agents
• Periodic review and negotiation of pricing with agent banks to ensure competitive
• Provide business and support areas with a single point of contact for sub- custodian and non-affiliate agent bank issues
• Serve as an escalation point for Global Custody network related business problems and negotiations specifically taking responsibility
for managing information flows and responses
• Monitor market developments , assess their impact on Global Custody and lead and track changes by working with product and
operations to ensure Global Window clients are adequately prepared
• Communicate significant market and industry developments and regulatory changes to the appropriate business and functional areas
Identify improved services currently offered by branches to other key clients that would be of benefit to Global Custody to receive
best in class service
4) New market Entries and migrations
• Provide extended due diligence into new markets and for migrations that include the selection of a dedicated provider
• Establish new relationships with new providers if one does not exist (i.e. identify contacts, agree on-going due diligence)
5) Project management of LV migrations, T2S and key regulatory projects such as CASS – in addition to Citi corporation wide projects such as 3rd party vendor management
• Key interface between Ops/ Imps, product and CE functions globally
• Prepares for issue validations and audit reviews
6) Deliver against client related/facing inquiries as a part of the network team as needed
• Contribute to RFPs, engage in client calls
• Partner with relevant functions on Resolution Planning (FED and UK)
• Partner with all required
- A detailed knowledge about Custody product/ Operations, industry and regulations that would create the opportunity for product and
control roles with the firm.
- Engagement with multiple countries/ geography management which may result in further opportunities in cross-functional and/or
multi-product geographical roles.
- Exposure to senior management through CASS and other key projects
• Knowledge of CFS products
• Knowledge of bank’s systems and connectivity
• Past network management experience, preferably at a competitor or a market infrastructure
• Awareness/ understanding of key regulations and requirements in this space (e.g. CASS)
• Preferably experience in team management
• Experience of working in a global environment
Skills and Competencies:
• Ability to foster excellent relationships between the business, support and control functions, internal stakeholders and external providers
• Leadership skills
• Solid organisational skills and attention to detail
• Strong analytical skills
• Excellent written and verbal communications skills
• Flexible and adaptable to quickly changing internal and external environments
• Willingness to assume responsibility and accountability
• High motivation and energy
• Preferably a post-graduate degree in banking and/or risk
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
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