Senior Business Unit Manager-18069540
The MSS Business Unit Manager is responsible for supporting the Head of MSS Germany and Austria and the German MSS Management Team in the delivery of strategic initiatives and the day-to-day operations of the MSS business.
The role is embedded in a small team of local Business Unit Managers and necessitates working closely with the EMEA CAO for MSS and the CGME CAO. The job holder is also expected to closely interact with the product business unit managers in the region and across the local ICG group.
The incumbent is required to extensively liaise with multiple functions within the business and support functions at all levels, in and outside of the country, including Risk Management, Legal, Compliance, Finance Operations and Technology as well as other Markets Businesses both in the region and globally (Regulatory Reform., Business Controls and Supervision, etc.).
A key focus of the role will be to ensure that the Project March initiative within MSS is being rolled out successfully from a German point of view and a strong governance frame is being implemented.
This is a highly visible role and the incumbent is expected to be capable of engaging across all levels of seniority within the firm.
The job holder sits within the German Markets and Securities services franchise. The German franchise currently consists of the Equities PLP business and various Sales teams distributing Citi’s global product range to corporate and institutional clients in the German and Austrian markets.
As part of Citi’s Brexit planning, the key legal vehicle in the country, CGME (formerly CGMD) will become Citi’s new investment firm within the EU27 post Brexit. It is intended to expand CGME’s product spectrum/offering across Equities, FX and FICC and add the required auxiliary services. CGME will operate as the hub for most products and EU27 countries.
The role is key to enabling business growth through maintaining a sound control environment, facilitating new business initiatives, product expansion and driving technology change within the business.
The candidate must be capable to work in a fast paced matrix organization without close supervision, and with colleagues and stakeholders spread across the EMEA region.
- Support the Head of MSS in the day-to-day and strategic management of the business in ensuring we have an effective coverage model in place for executing Citi’s client strategy.
- Preparation of business presentations initiated by Head of MSS, ensuring effective communication, analysis and feedback on relevant business issues. Review and preliminary interpretation of management reporting; support for global sales processes and analytics, including business reviews and governance related items.
- Prioritize business issues and resolve issues based on low risk/short term implications, maximising efficiency.
- Coordinate and analyse management projects initiated by local management team
- Work in close partnership with global functions to deliver on business driven revenue growth, optimisation, cost saving and governance initiatives.
- Ensure processes balance the need to grow revenue with our risk and governance framework, and remain coordinated with global efforts.
- Track and coordinate headcount, facilitating hiring and efficient allocation of resources. Liaise with HR concerning new hires, job rotations, leavers and permanent staff/talent development.
Governance and Controls
- Ensure that a strong governance framework is in place across locally operating asset classes leveraging global procedures, processes, tools and policies.
- Coordinate with the local MSS management team, regional Sales and Product management to ensure the effective execution of the Controls framework is in place.
- Maintain oversight and continuously develop the German MSS MCA in conjunction with local partners, regional/global BUMs and the Business Controls and Supervision teams.
- Ensure corrective actions are implemented for control related issues across the local MSS franchise with a goal of driving a robust, efficient and scalable business model across all traded asset classes.
- Work closely together with business partners in Finance, Compliance, Legal, HR, OandT and Tax to ensure the business has a strong, consistent and focused control and business ethics environment.
- Ensure the business is run in strict compliance with all internal and regulatory standards.
- Work in conjunction with Compliance, Legal and other Function partners to ensure that all regulatory changes impacting the German MSS franchise are implemented in a timely manner.
- Support regulatory interaction in conjunction with local functions for MSS related aspects.
- Ensure governance and controls framework is complimentary to Citi’s regional MSS structure, also ensuring escalation procedures are adhered to.
- Manage the local NPAC process for the business, ensuring all system, control and risk issues are being addressed.
- Management of internal and external audit/compliance reviews, providing materials and address concerns arising from these reviews.
- Have a critical mind and question processes and frameworks with a preventive business framework.
- Monitor and manage expenses across the German MSS franchise, ensure compliance to Citi policies, and review ongoing expenses versus budgets
- Lead expense management and cost saving initiatives for the business
Financials, Planning and Analysis
- Ensure correct reporting of MSS Germany and Austria revenues and expenses to local and regional governance meetings.
- Manage and drive the MBR/QBR deck preparations and any other reviews that may be required for Senior Management.
- Manage the budgeting process for and coordinate between the countries, business desks, London and finance
- Perform competitor analysis, analyse market trends, market size and client segments for the business, and identify risks and new opportunities on an ongoing basis in close cooperation with the local management team. Benchmark Citi’s key differentiating features against the competition.
- Create and provide effective metrics to stakeholders and senior management teams.
Corporate and Business Governance
- Represent the business in local and regional governance meetings (BRCC, RCM, ALCO, etc.) as required.
- Preparation of meeting materials, ensuring minutes are accurately recorded and tracking of follow-up items
- Assist in strategic analysis of product opportunities and objective assessment of current and potential performance
- Understand the external and internal performance drivers of each product / function, be able to articulate verbally and numerically the key variables for success/improved performance, and execution strategies
- Participate in client profitability analysis and development, including data quality, client analytics and MIS development
- Take ownership of business-driven projects, driving their implementation whilst working closely with relevant seniors. Actively drive revenue growth initiatives on behalf of the business heads.
- Coordinate with sales management to define target market, prioritize existing and prospective clients and balancing profit potential and competitive positioning. Develop and execute strategies for driving organizational focus on those priorities and monitoring progress of associated initiatives
- Development into a very senior business manager role within hub/regional focus.
- Opportunity to extent knowledge base with in-country expertise
- Senior Management Exposure within a highly visible role
- The successful candidate will have the opportunity for future career progression within the regional MSS business.
- Very good university degree in Finance or similar subject
- Post graduate degree desirable
- Very good organizational, time management and communication skills on a highly qualified level
- Self-motivated and willingness to assume responsibility
- ‘Process Improvement’ mindset. Good problem solver
- Strong interpersonal skills with the ability to influence and build consensus
- Aptitude for learning and willingness to develop and expand role where required
- High performance and motivation level under pressure and open space environment
- Sensitive management of confidential, strategic, personal, and business critical information
- At least 7+ years of experience within a fast paced markets environment.
- Strong knowledge of MSS product range and a good understanding of other ICG businesses
- Prior front office and /or business management
experience of advantage
- General awareness of industry wide developments
- Track record of delivering results
- Experienced in working within a Matrix environment
- Strong communication skills in both English and German (written and verbal) across all organizational levels
- Ability to effectively plan, prioritize and manage own workload within tight deadlines.
- Ability to lead and influence across a broad agenda and stakeholders
- Strong analytical and problem solving skills
- Strategic thinker with strong execution skills
- Team player with strong ownership mentality
- Results/task orientated with excellent attention to detail
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 organisational success.
Citi is an Equal Opportunities Employer.