Managing Director - Global Head of Futures, Clearing & FX Prime Brokerage Operations

London, United Kingdom
04 Dec 2022
12 Dec 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Market Operations and Operations Technology represents the evolution and transformation of both Operations, and Technology, in the Finance Industry which creates a uniqueness about how we deliver our products and solutions. We take pride and are passionate about our People and our culture. We are invested in you, your experiences, development, and in building a successful career for you at Citibank. We are modernizing everything we do; allowing flexibility and creating an exciting environment which encourages diversity of thought and inclusion.

We are a dynamic, global and diverse Organisation, with a presence in over 60 Countries; covering all post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative, Clearing & 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 Derivatives, Clearing and Foreign Exchange Prime Brokerage) 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 the core of all activity at the Firm and have significant impact across the lifecycle of a Trade. We partner extensively with a range of internal stakeholders such as 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 service performance and strategic partnerships with top tier clients, where we play a key role in supporting o global clients to ensure they have a first class experience when doing business with Citi.

Our Digitization and Implementation 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 groups 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.

Team/Position Overview
Citi is a market leader in clearing services, is the no.1 ranked global OTC Clearer with 27% of market share, the no.1 ranked global FX Prime Broker, and no.3 ranked global provider of Exchange Traded Derivatives.

The Global Head of Futures, Clearing & FX Prime Brokerage Operations is directly accountable for the end to end operational support of the Futures, OTC Clearing & FX Prime Brokerage businesses. The functions within the team include Client Services, Trades Processing, Clearing and Control. The Global Head will be responsible for the building and maintaining partnerships with business stakeholders, to define and implement the Operations target operating model, to ensure a robust control environment including compliance with regulations, to develop a proactive people agenda to attract, retain and develop our associates. The role is accountable for c.290 associates across 11 cities. The Global Head joins the department at a time of significant technology investment, rapid transformation and new business enablement. Proactive and agile leadership and the pursuit of innovative, best in class solutions to client and firm objectives, will be integral to the success in the role .

Key Responsibilities:
  • Overall responsibility for Global Futures, Clearing & FX Prime Brokerage Operations ensuring seamless operational processing and support of Citi's external and internal clients
  • Delivery and maintenance of global control framework in full accordance with Audit, Compliance and Regulatory requirements. Emphasis is to be given to Client Money, Open Interest Maintenance, Position Limit Monitoring and Transaction Reporting
  • Definition and delivery of a People and Engagement strategy to attract, develop, retain, and recognize diverse, high-performing Talent that possess strong control, client experience and delivery-orientated focus
  • Drive results and foster a culture of excellence, innovation, and continuous improvement
  • Build and maintain relationships with Business Partners and system integrators to ensure delivery of high-quality product in alignment with global initiatives across the enterprise
  • Plan and execute strategy and budget to deliver targets - managing costs, schedules, risks, dependencies, and risks, navigating moving parts as needed
  • Executive Operations sponsor for system transformation programs and identify opportunities for process reengineering, Digitization, Automation and Straight Through Processing (STP) focusing on Client and User Experience.
  • Use strong technical and business acumen to manage risk, challenge status quo and to deliver solutions
  • Coach and mentor our people. Ensure effective one-to-one discussions and that all staff within the reporting chain receive direction, feedback, support, and encouragement for career development
Skills & Qualifications
  • BA/BS degree preferred
  • 15+ years direct experience in Futures and Clearing Operations at a comparable Tier 1 organization
  • Strong knowledge of regulatory requirements pertaining to Futures and Clearing business lines, inclusive of Client Money, Transaction Reporting, Open Interest Management and Position Limit Monitoring
  • Experience delivering vs target in a global financial services enterprise proficient in rapid product innovation, complex market evolution and sophisticated client trading
  • Strong people management - experience leading disbursed teams including; hiring, training, mentoring and developing diverse, innovative talent with planned career progression and pipelining
  • Demonstrated ability to succeed where the ability to discover and internalize diverse stakeholder goals is critical to brokering solutions that are in the best interests of Citi as a whole
  • Excellent verbal, written, and presentation skills. A demonstrated ability to effectively communicate technical and business issues and solutions to multiple organizational levels internally and externally, simply and clearly, leveraging data as needed, to support strategic goals.
  • Self-reliant, good problem solver, results oriented
  • Energetic, flexible, collaborative, and proactive; a leader who can positively and productively add product impact to bother strategi can tactical technology
  • Strong risk management and control mindset
  • Provides evaluative judgment based on analysis of factual information in complicated, unique and dynamic situations; draws on diverse range of internal and external sources
  • Demonstrated experience leading people and developing effective and diverse teams
  • Ability to establish and build trust with professionals throughout the business with a clear client orientation
  • Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint.
  • Ability to conceptualize aspects of the organization's model and its future development
Job Family Group:
Operations - Transaction Services -------------------------------------------------
Job Family:
Securities and Derivatives Processing ------------------------------------------------------
Time Type:
Full time ------------------------------------------------------
Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi") invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi .

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.
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