Prime Finance Margin recruitment
The unit supports the IPB FIPB Business, and is part of the overall EMEA Margin Utility. In addition this role will also have to assist the Head of the EMEA margin Utility with projects and other initiatives involving other areas within the margin utility e.g OTC, Repo and cross product margin.
Job Purpose:
Responsible for supervising a small offshore team responsible for margining clients within International Prime Brokerage, ensuring clients are fully margined and Citi are protected in event of a default. The primary role will be to support the International Prime Brokerage Margin lending activities in Europe in coordination with the Prime Finance Business Risk Management and the Credit Risk Management teams. The Margin role will incorporate all aspects of Equity Fixed Income PB products. The team responsibility is to analyze client portfolio's, monitor and identify any operational risk and bridge the gaps.
Key Responsibilities:
- Monitor current and implement new Controls as new risks are identified, and ensuring uniformity across the products we are responsible for;
- Ensure daily margin calls are sent to the Client Service team within the agreed times;
- Ensure timely completion of daily reconciliation and reporting processes;
- Ensure timely and thorough responses provided to all client enquiries;
- Timely and thorough completion of all daily processes and controls including ad-hoc tasks that may be assigned;
- Review cash / portfolio / collateral reconciliations that reside in the MO and resolve discrepancies as appropriate;
- Releasing of PB client cash free stock activity, ensuring all payments/security movements are completed in a timely manner with sufficient coverage;
- Work with offshore team to analyse movements /activity on client accounts and providing commentary for management reporting;
- Monitoring that margin policy is being correctly applied to individual accounts;
- Work with Offshore team to ensure rapid resolution/escalation of disputes;
- Provide assistance and expertise to OTC, Repo and Cross Product Margin team as required;
- Documentation and publication of MIS where required;
Development Value:
- Develop an in depth knowledge of the products, markets and processes being supported;
- Exposure to products supported by the Prime Finance Middle Office;
- Fully proficient in the use of technology within own department;
- Enhancing communication and organisational skills. Meeting targets set within the group and interacting with a wide spectrum of people to achieve these skills;
- Self motivation, flexibility, and a strong desire to succeed will bring a recognised and rewarding career;
Skills
Knowledge/Experience:
- Understanding and experience in the Collateral/Margin process across Prime Brokerage, OTC Repo and associated legal documentation;
- Understanding of life-cycle of trade processing for significant product type (Equity / Fixed Income / Derivatives). Includes trade capture, PL, settlements and reconciliations for the International Prime Brokerage area;
- Understanding of Equity settlement principles and practices;
- Understanding of the Books records for IPB trade investigations within IOWA, Merit and Optima;
- Work experience in the Financial Services Industry is a benefit; Customer service experience;
- Displays a well-developed ability to schedule work and understand relative priorities;
- Building positive working relationships and working with team members to understand the root cause of an issue in a timely and effective manner;
- An understanding of the risk in not delivering a good service within the Client Service sector;
Qualifications:
- Finance related Bachelor degree or equivalent;
- Good numeric skills;
- Industry exams e.g. IAQ module exams or equiv;
- Exceptional candidates who do not meet these criteria may be considered provided they have the necessary skills and experience.
Skills:
- Good Microsoft skills including Excel, Word and Outlook;
- Computer literate and ability to grasp several in house systems quickly;
- Numerate;
- Literate. Ability to detail issues, in writing, in a clear, accurate and concise manner;
- Demonstrates sound judgement and professionalism in decision making/problem solving, escalating where appropriate;
- Competencies Good problem solving, and ability to think clearly concisely in challenging situations;
- The ability to take on and own the resolution of problems to completion;
- Attention to Detail; Risk Awareness; Communication; Teamwork;
- Planning Organising; Relationship Building; Adaptability;
- Analytical;
- Clients come first;
Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organizational success.