• Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Citi-US
  • 2019-03-22

Custody Service Officer

Custody Service Officer

  • Primary Location: United States,New York,New York
  • Education: Bachelor's Degree
  • Job Function: Private Client Product Mgmt
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: No
  • Job ID: 19005434


About Citi
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 explains what we do and Citi Leadership Standards 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 to are widely available to all.

Brief Description of the Organization CBNA is the primary legal entity for Citi, providing products and services to consumers, financial institutions and corporate clients around the world.  In the past, Citi has provided most of its internal reporting on a business by business basis.  With the changes in the regulatory environment, strong legal entity reporting and governance has become essential.  This team is responsible for ensuring that CBNA has the appropriate governance and control infrastructure to meet the demand for legal entity planning, execution, information management and the ever-evolving regulatory environment.

Business Unit Description - Preferred Custody

Preferred Custody Services is a product within the Banking and Custody unit of Citi Private Bank's North America region, and is part of the larger Institutional Clients Group ("ICG") division of Citigroup.

The group is client facing and is comprised of two main businesses including traditional custody/safekeeping services and escrow agent services which involves custody of assets held in escrow. The client base for this business includes Ultra High Net Worth Individuals and Families, nationally recognized Law Firms and their Partners, and Institutional Entities such as RIA's, Hedge Funds and Private Equity firms that primarily seek custody services related to investment portfolios. 

The primary day to day functional responsibilities for staff members are centered on providing general account oversight and administration for private bank accounts. 

These services include but are not limited to: Security safekeeping and settlement, statement reporting (including year-end tax reporting), transaction processing, income collection, corporate action processing, cash transaction processing and account inquiry resolution.

Position Description

Officer Title - Level:  Assistant Vice President

The Custody Service Team in Citi Private Bank's Preferred Custody Services business has an immediate opening for a junior Product Specialist.  This highly motivated, proactive, responsible and reliable individual will work closely with the Custody Sales Team to market, deliver, and service the CPB Custody product to clients nationwide. 

Responsibilities for this position include (but are not limited to) the following:

•             Working closely with all members of the Custody Team, assist with the daily administration and servicing of the Custody Product to Private Bank clients nationwide.
•             Process and monitor all daily securities transactions, including wire transfers, check deposits, and cash transfers
•             Process/Approve (through WINS) Fed Wires, Internal funds transfers and other Cash movements within set timeliness standards and daily cutoff times.
•             Review and process/approve account maintenance requests
•             Ensure all securities transactions including RVP / DVP, free receipts and deliveries, global (Non-USD) trades and all other securities related transactions including mutual funds and foreign exchange are processed
•             Research/resolve account officer and client inquiries, and interface with Custody Account Officers and Securities Operations on a daily basis
•             Support team members and team leader with handling all custody related aspects of CPB relationship
•             Ability to work well with other CPB product partners in meeting client expectations
•             Client billing and fee processing
•             Resolve client inquiries and issues on a timely basis and as accurately as possible
•             Direct contact with clients and their attorneys, accountants, third party vendors, representatives, pertaining to requisition payments, call back, etc.
•             Interaction with Private Bankers, Banker Associates, Service Officers, and other internal constituents as necessary
•             Prepare, maintain and update spreadsheets, calculations, reports and/or special documentation required for specific transactions (complexity can vary from deal to deal)
•             Ensure compliance with all legal and regulatory policies and requirements of the Private Bank
•             Resolve client inquiries and issues on a timely basis and as accurately as possible through effective and efficient use of Private Bank resource
•             Ensure all updates to account documentation are imaged on the Document Management System
•             Terminate accounts client instructions


•             College degree
•             Approximately 4/5 years experience working in the financial services industry; prior experience with escrow transactions and settlement funds is helpful
•             Familiarity with the securities industry - specifically, securities movements, fixed income securities and deposit products
•             Technical skills: thorough knowledge and familiarity with Microsoft Word, Excel, PowerPoint and Outlook required; knowledge of Microsoft Access helpful, but not essential
•             Project management skills: candidate must be highly organized and efficient; ability to effectively multi-task and adhere to daily time sensitive deadlines is critical
•             Analytical skills:  the ability to read, comprehend and interpret legal documents and contracts governing escrow accounts is helpful, but not required
•             Excellent oral and written communication skills