Head of Equities & Securities Services (ESS) Front Office In Business Risk Management
Job Title: Head of Equities & Securities Services (ESS) Front Office In Business Risk Management Business:
ICG Markets & Securities Services Division:
Equities & Securities Services Location:
New York or London Job Purpose:
- Individual will be responsible globally for the In Business Risk (IBR) Management teams covering Counter-party Credit Risk for the Equities and Securities Services (ESS) businesses in Citi's Markets Franchise.
- Manage Product IBR specialist's coverage Derivatives, Structured Equity Solutions, Prime Finance, Delta 1, Futures & OTC Clearing, FXPB, and General Clearing Membership in Securities Services.
- Be the senior IBR representative at ESS Executive Committee.
- Be the strategic lead for building out the risk monitoring, in business credit risk oversight, engagement with control functions, and needs of our clients from a credit risk perspective.
- We are looking for a seasoned front office focused candidate with experience in the broad spectrum of products covered by the ESS Franchise with previous exposure to ideally credit risk management, trading equities, Prime and D1 products, and Futures & OTC Clearing.
- The Head of ESS IBR is responsible for managing and monitoring counter-party credit risk exposure to ESS clients. This includes monitoring of current clients margin loan exposure, assessing the risk of new business lines, and developing methodologies to improve portfolio lending activity. The client list is constantly evolving with existing and new clients pursuing new strategies and trading new securities. Individuals must perpetually maintain their understanding of market dynamic, their knowledge of new products and awareness of market risks across both Equity and Fixed Income.
- Ability to operate at a senior Executive Committee and to partner with key control functions is key for the role to be successful.
- Manage the teams globally who monitor client portfolios / exposures to ensure that risks (primarily market and liquidity risk, but also documentation, legal and reputational risks) are controlled.
- Lead the development of new counter-party credit risk methodologies, both with regards to improvement of current ones and including new products.
- Represent the ESS Franchise as the Senior Executive to Regulators, external client, and internal partners
- Lead Client Reviews: Perform regular risk reviews incorporating market risk portfolio analysis as well as suitability and appropriateness of margin methodology
- Lead the structuring and NPAC development of new client focused solutions
- Develop and utilize risk management tools for the measurement, monitoring and management of clients' exposure.
- Oversee daily and weekly analysis as well as customized risk analysis. Communicate key findings to senior management.
- Oversee the PB marketing efforts by taking part in Global client pitches, discussing the firm's risk policy and leverage levels provided, as well as talking about the risk tools provided to clients in the PB offering.
- Various client facing responsibilities, such as dealing with general risk issues, negotiating term agreements and presenting to clients at client teach-in's.
- Represent the department to various and internal and external Credit officers, auditors and regulatory agencies as their issues relate to market and credit issues.
- Work as business advisory leads on assessing and implementing Regulatory Capital infrastructure and helping the business improve capital efficiency.
- Business is in a strong growth phase giving opportunity to expand the role as the business grows.
- Learn about a broad suite of products in the ESS Franchise
- Build solid market/credit risk experience as we use cutting-edge risk models and techniques.
- Equity markets plus financing markets knowledge essential.
- Relevant market risk experience in equities and equity derivatives.
- Knowledge of equities /Convertible bond and fixed income and other asset class
- Knowledge across listed / OTC interest rate, FX, commodity, along with OTC credit highly desired
- Experiences in structured solutions and clearing products essential.
- Expertise in cross-asset risk analytics a plus
- Development and implementation risk methodologies
- Strong analytical skills with good attention to detail and a demonstrated aptitude for tackling analytical issues through quantitative modelling and assimilation of data into a working product
- Strong written and verbal communication skills
- Stress testing skills essential, instrument modelling skills desirable.
- Ability to manage large global teams with technically strong people.
- Good communicator.
- Strong analytical skills.
- Strong problem solving abilities
- Excellent written and oral communication skills
- Ability to work independently as well as in a team environment.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
- Minimum 10 years of experience in Risk Management
- Background in Financial Risk Management and/or Equity Trading / Prime Finance
- Derivatives knowledge & experience, and experience with quantitative analysis
- Ability to communicate effectively with senior stakeholders and work with clients and client facing personnel including Client Service, Sales and Relationship Management to communicate risk appetite and margin policy
- Undergraduate degree in a quantitative discipline (Mathematics, Engineering/ Economics or Computer Science)
- Graduate Degree in Finance or Economics preferred
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