Global Head of FX - London, United Kingdom - Citigroup Inc.

Description

Role Introduction / Overview

This is a key leadership role within Valuation Control Group (VCG) and reports to the Global Head of Rates & Currencies Valuation Control for Citigroup. The Global Head of FX & Local Markets Valuation Control will be part of a team of very senior individuals who oversee the fair value valuation control issues for the entirety of Citigroup. This is an executive-level position for an experienced, dynamic, technically strong leader, who can manage all aspects of the role.

Business / Team Overview

• The role includes leading (managing directly) a significant global team (40 people located in many locations London, New York Singapore, and Warsaw) that performs independent price verification (IPV), maintaining valuation adjustments (where necessary) and performing other valuation assessments, as may be relevant and required for the underlying product types, such as Prudent Valuation, and performing Fair Value Hierarchy Levelling determinations.
• The FX & LM Valuation Controls Team is based across EMEA, North America, and in Singapore, in locations that are aligned to the main trading locations.
• The products traded by FX & LM include the full range of FX Derivatives, interest rate derivatives, a broad range of fixed income securities, as well as exotic FX, Rate and Hybrid transactions and some vanilla and structured note issuances. As part of this, some of the significant issues that the team need to assess and be involved with include new trade approval, extensive interaction with Market Risk, Model Risk, and other risk and control functions, as well as an understanding of XVA (CVA, DVA, FVA) issues.

Some of the key responsibilities in the role:

• Work across teams & functions and leverage existing relationships.
• Lead initiatives and develop / propose solutions to complex technical challenges or control issues.
• Responsible for relevant and appropriate governance matters relating to the FX and Rates Valuation Control Team
• The priorities of the Incumbent will be set by the Global Head of Valuation Control Group, and the Incumbent will be expected to manage those priorities appropriately as a senior manager. There will be crucial deadlines that will need to be achieved.
• Broad understanding of control principles. Defining and developing practical controls that can be implemented.
• Independent challenge of first line (e.g. Trading) valuation approaches and the design of effective controls within Finance.
• Engage with partners on the development of valuation control solutions using enterprise-wide technology and digital tools.
• Other duties as mentioned at the top of this job description.

Development Value:

• As part of the firm's Transformation agenda, this role will play a key part in bringing about substantial process improvements both within VCG and on an end-to-end basis, partnering with other seniors across Trading, Risk, Technology and other relevant Transformation Program teams.
• The individual in this role will interact extensively with Senior Management within Finance, Trading and Risk Management, as well as with the various Transformation and Change-the-bank teams that the firm has established. Therefore, the successful candidate needs to demonstrate excellent communication skills and the ability to communicate complex ideas concisely and effectively to formulate plans and to execute them within their remit.
• All VCG leadership roles provide expert thought-leadership on technical valuation issues, on their specific areas of expertise, and also more broadly across the rest of VCG's global, Citigroup-wide remit. Each member of the VCG leadership team is a senior, experienced manager – both of issues, and of personnel. Each member of the leadership recognizes and shares the collective responsibility of the group; something which has been vital to our past performance and is equally so for our future.
• We pride ourselves on continual improvement (of controls, work-life environment), diversity and active talent management, and a constructive mutually supportive team culture, in the knowledge that we succeed together, as a team. This strong culture enables the team to drive for best practice, as well as share the collective responsibilities of the remit, whilst creating an environment where talent can thrive and develop. This common understanding enables the team to operate collaboratively, in a mutually supporting and cooperative manner, and facilitates strong partnership, efficiency and teamwork within VCG, and with our key stakeholders.

What knowledge, skills and experience we'll need from you:

• Extensive experience in people management (ideally technical teams in various locations) as well as effective senior Stakeholder management globally.
• Significant experience in at least 2 of the following: Valuation, Market Risk, Product Control, Treasury, or similar disciplines.
• Experience of regulatory and audit focus from a control & governance perspective, and able to provide detailed practical guidance on implementing appropriate controls.
• Excellent understanding of complex structured products and different models used for valuation, e.g. for derivatives.
• Strong understanding of current global accounting and regulatory standards and developments pertaining to valuation of financial instruments.
• Knowledge of Python, KNIME/Alteryx, Power BI and other digital technologies would be an advantage.
• Adaptability to changing circumstances is crucial, as the prioritization of responsibilities will need to evolve with changing circumstances.
• Strong communication skills, both written and oral, and proven influencing and negotiation skills.
• Ability to prioritize to ensure deadlines are met.

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