- New York, NY, USA
- Permanent, Full time
Global Deposits & Investment Head- New York, New York
Global Deposits & Investment Head- New York, New York
- Primary Location: United States,New York,New York
- Education: Master's Degree
- Job Function: Product Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 18049591
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 are widely available to all.
The focus of this position is global deposits and investments. To meet the needs of global, multinational organizations, TTS offers short-term options for return, both on and off-balance sheet. Product alternatives range from operational and current account structures to time deposits of defined maturities, minimum maturity time deposits with automatic daily extension and fixed notice periods, earnings credit rate programs that offer soft-dollar return, and off-balance sheet money market funds. These options are offered in multiple currencies, with channel access through the TTS Online Investment Portal, automated sweeps, and regional Investment Desks.
The Global Deposits & Investments Product Head will be responsible for developing and executing the global strategy for deposit and investments products and channels, and supporting the growth and expansion of the business. It is important to note that within TTS, deposit NRFF represents approximately 50% of TTS revenue. TTS is also a primary provider of deposit funding to the Citi franchise, holding about 45% of the bank's deposit book, and regulators have clearly shown a preference for funding linked to operating relationships.
As clients become more efficient, the percentage of discretionary placement is increasing as clients seek greater return in line with their risk tolerance. Our ability to maintain relevance and competitive product alternatives, while providing superior client experience, is key to maintaining and protecting this valuable source of revenue and cost-efficient funding.
- Establish and drive the roadmap for the deposit and investment product portfolio, maintaining global standards
- Formulate ongoing product and service delivery solutions - including collaborating with regional LMS business partners
- Manage client-facing portal channels, including third party vendors, and drive global expansion plans based on business opportunity
- Establish best practices for investment desks globally and expand as the need and opportunity arises
- Translate market requirements into business requirements and lead development projects
- Build the business case for initiatives and champion product innovation
- Oversee technical planning and ongoing development process
- Manage financial performance review and variance analysis
- Set global product standards and price structure
- Provide product support and training to client coverage personnel and provide product content for
- client proposals
- Lead a team of six product managers based in various locations in the US and EMEA
- Inspire and empower the team to achieve superior results
- Leverage diversity to enhance team learning and effectiveness
- Reward talent based on "the what" and "the how" of performance
- Maintain a working and high level of knowledge of bank, securities and tax regulations and implications to the offering of interest/dividend-bearing deposit and investment products
- Coordinate product approvals with risk, compliance and legal partners
- Participate in the assessment and implications of industry-wide regulatory initiatives impacting deposit and investment products, e.g. Basel III, FATCA/CRS, Money Market Fund Reform, etc.
- Ensure product compliance with various industry regulation, e.g., KYC, OFAC, FDIC, etc.
- Participate in internal and external audits, as needed
- Management of product P&L, demonstrating growth in revenue and profitability
- Support the business in achieving balance sheet optimization targets
- Rollout of new product functionality, linking to liquidity management solutioning capabilities to enhance the Citi value proposition
- Leadership on market developments, trends and regulatory changes
- Bachelor's degree required; MBA preferred
- 5+ years experience in a product management role
- Familiarity with deposit and short-term investment products (e.g., money market funds)
- Working knowledge of primary deposit- and money market fund-related banking regulations -- in the US and offshore
- Basic understanding of institutional liquidity and investment practices, solutions and systems (TWS, ERP)
- Experience working within a matrix reporting environment is desired
- Strong analytical skills including familiarity with financial statements, banking operation and/or data reporting/management analytics
- Exceptional interpersonal and communications/presentation skills
- Strong project management and PC skills