1+ months
2018-06-252018-08-24

Product Control Group Manager

Citigroup
New York, NY
  • Primary Location: United States,New York,New York
  • Education: Bachelor's Degree
  • Job Function: Finance
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: Yes, 10 % of the Time
  • Job ID: 18042063

Description


Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citis
Mission and Value Propositionexplain what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients and the publics trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

We are seeking an outstanding candidate to be a Valuation Methodology Specialist, reporting into Head of Valuation Methodology for Citi.
Valuation Methodology is a new team within VCG, and one which is crucial and highly influential.  This team will focus on a wide-ranging and evolving scope of initiatives, from known valuation and governance issues to areas of changing and emerging market practice.

The focus of this team will be to investigate these issues, provide thought-leadership to senior management on their resolution, and to provide specific, practical and implementable advice on how to address the issues.  Some of this will involve creation of new controls, implementation of new techniques, and the drafting of formal policy and other important governance documents, so senior-level experience of these disciplines is essential.

This role will provide expert thought-leadership on technical valuation issues across all areas of VCGs responsibilities globally, and cross-product.  The purpose of this team is to help ensure Citi has the most appropriate and complete valuation control framework across all areas of price verification, valuation adjustments and wider governance aspects.  This role requires significant technical understanding of the capital markets products traded by Citi.

The individual in this role will be interacting with Senior Management within Finance, Front Office and Risk Management and will support the development of a strong valuation framework and the application of consistent valuation methodologies for Citi.

Excellent communications and negotiation skills are vital. The successful candidate needs to demonstrate an ability to communicate complex ideas concisely and effectively.  The role also involves ensuring global consistency and working with the Senior Product Control Managers across the various regions.

This is a position for an experienced, dynamic, technically-strong executive, who can manage all aspects of the role.  
Valuation Control Group (VCG) is a cornerstone of the Product Control function. The function is organized into product-aligned teams including a dedicated Price Verification team. The product scope is comprehensive and includes a full range of security and derivative products.

The key responsibilities of the group are to perform the independent price verification for traded inventory, calculate market value adjustments and conduct new trade reviews.

The successful candidate will play a critical leadership role within the Global Valuation Control team and support the Global Valuation Control Head.  

There will be regular interaction with a wide variety of other functions within Markets and Banking globally and within the Global Product Control organization.
Key Responsibilities
People Management and Leadership
-Ability to work across teams & silos, and to leverage existing relationships
-Will lead initiatives, and develop and propose solutions to complex technical challenges or control issues
-Active role as part of the broader regional and global product control team

Governance
-Will be responsible for developing and drafting formal policies, technical papers and governance documents
Flexibility & Adaptability
-The priorities of this individual will be set by Head of Valuation Methodology, and this individual will be expected to manage those priorities appropriately as a senior manager.  There will be crucial deadlines that will need to be achieved.
-Adaptability to changing circumstances is crucial, as the prioritization of responsibilities will need to evolve with changing circumstances. 
Regulatory
-Experience of regulatory and audit focus from a control & governance perspective, and able to provide detailed practical guidance on implementing appropriate controls.
Control Framework
-Broad understanding of control principles
-Will have responsibilities for defining and developing practical controls that can be implemented.
This is an important and influential hire for Product Control.  The successful candidate will be required to play a key role within the Global Product Control organization, by demonstrating a wide range of skills and the ability to develop and support Citis global approach to Valuation Control, and the wider control environment.

Qualifications


Knowledge/Experience
-Significant experience in a technical valuation, risk or product control related discipline
-Strong understanding of current global accounting and regulatory developments pertaining to valuation of financial instruments
-Ability to understand complex concepts and effectively challenge peers in Finance, Risk and the Business
-Strong communication skills, both written and oral
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience
Skills 
Leadership and Management
-Excellent people Management
-People Development
-Inspires and empowers team and individuals
Drives Value for Clients
-Trusted partner, drive innovation, speed market by learning from others
-Anticipates, demonstrates understanding of expectations and needs
Work as a Partner
-Works collaboratively across the organization
-Challenges self and colleagues to higher levels of performance
-Treats people with respect
Champions Progress
-Pushes for culture of high standards
-Sets positive tone and inspires enthusiasm
-Assists in executing the vision set forth by Senior Management and is responsive to changes in environment
Lives Citi Values
-Sets the standards for the highest integrity in every decision
-Has the courage to always do what is right and the humility to learn from mistakes
Delivers Results
-Sets high standards and achieves performance objectives
-Prioritizes and provides clear line of sight to most critical work
-Sets clear goals and measures progress
-Expects self and team to consistently meet/exceed expectations
Product Technical Knowledge
-Excellent understanding of complex structured products and different models used for valuation
Control Mind-set
-Demonstrates a strong leadership and focus on control. Ensuring integrity of reporting and independence of controls associated with critical function
Strong Influencing and Presenting Skills
-Ability to communicate and deliver key messages to senior audience
-Credible in front of regulators and external auditors
Qualifications
A Bachelors or Masters degree in any finance, economics or quantitative related subject.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience
Competencies
-Leadership skills
-Control focused
-Team Player
-Self-Motivated and innovative
-Ability to prioritize to ensure deadlines are met Strong Communication Skills, both written and oral
-Excellent interpersonal skills able to deal with a range of senior/junior staff across a number of disciplines
-Proven influencing and negotiation skills

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Product Control Group Manager

Citigroup
New York, NY

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