Citi Product Control Lead Analyst, Vice President – Global Credit Markets in New York, New York
Primary Location: United States,New York,New York
Education: Bachelor's Degree
Job Function: Finance
Shift: Day Job
Employee Status: Regular
Travel Time: Yes, 10 % of the Time
Job ID: 17030829
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition at http://www.citigroup.com/citi/about/mission-and-value-proposition.html explains what we do and Citi Leadership Standards at http://www.citigroup.com/citi/about/leadership-standards.html explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
Citi’s Finance Division is comprised of various global functions, including: Product Control, Treasury, Controllers, Balance Sheet Substantiation, Financial Projects & Initiatives, and Financial Planning & Analysis. The Finance Division is the guardian and communicator of key financial information and controls. As a partner with Citi’s various businesses, Citi Finance drives business franchise and legal entity decisions on capital planning, liquidity, budgeting, tax, strategic direction and policy management.
Product Control is a global control function within Citi Finance and is responsible for the accounting and financial reporting of a trading desk or business product. Product Control reports daily and monthly revenues and is responsible for key controls over P&L reporting and Profit Attribution Analysis, Balance Sheet reporting and analysis, New Transaction Review, FX exposure reporting and coverage and Independent Price Verification.
Business Background: The Global Credit Markets business has presence in North America, Europe, Japan and Asia Pacific. Their primary businesses are Global Structured Credit, Global Emerging Markets Credit Trading, Global Distressed Trading, and Global Credit Trading. Each of these businesses is supported by their regional product control teams. The Global Credit Markets business are market makers for corporate loans, bonds, credit default swaps (CDS), and structured products such as cash and synthetic CDOs. Other products covered by these desks for hedging risk may include treasuries, interest rate swaps, equities, and futures.
• Hands-on supervision and leadership of remote team performing daily Profit and Loss (P&L) analysis and reporting
• Ensure effective validation and control, as well as timely and transparent communication of results with insightful commentary on drivers such as P&L attributions, market changes, new trading activity, and trading strategies consistent with permitted products listing
• Understand the Price Verification and other Fair Value Adjustment processes and impacts on P&L
• Actively participate in month-end close to ensure legal entity and region results are consistent between management P&L and general ledger, and balance sheet accounts are properly substantiated
• Facilitate new product approvals and/or structured transaction reviews
• Work with Accounting Policy to determine appropriate accounting treatment for transactions
• Respond to inquiries from local regulators and regional Finance peers as Credit subject matter expert
• Redesign / streamline existing controls and related processes from both a tactical short-term point of view and a strategic long-term perspective and see these initiatives to completion
• The ideal candidate will have a minimum of 5 years of related experience
• Four year bachelor’s degree or international equivalent in Finance, Accounting or related field; CPA not required but a plus
• Strong understanding of accounting fundamentals and experience with derivative products
• Excellent interpersonal communication skills, both written and verbal, with ability to deal with a range of senior/junior staff across a number of disciplines
• Demonstrated track record of coordinating and implementing tactical and strategic Product Control solutions leveraging technology where appropriate.
• Strong leadership, negotiating, and decision-making skills
• Able to perform effectively within a time-sensitive environment and meet demanding reporting and project deadlines.
• Self-starter with drive and ambition to succeed in a dynamic Business environment with minimal training.