• Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Citi-US
  • 2018-10-23

Product Control Senior Vice President, Structured Credit and Securitized Trading

Product Control Senior Vice President, Structured Credit and Securitized Trading

  • Primary Location: United States,New York,New York
  • Education: Bachelor's Degree
  • Job Function: Finance
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: No
  • Job ID: 18065494


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 are widely available to all.

About Citi's Product Control
Product Control is a specialized area within the Controllers discipline and is principally associated with the Markets & Securities Services and Corporate & Investment Banking businesses. The Product Control team's mission is to ensure the completeness, accuracy and integrity of Citi's books and records. Responsibilities include: product line revenue and balance sheet validation, analysis and reporting, independent price verification, fair value hierarchy classification and valuation adjustments. By advancing with best practice, the team both protects Citi's reputation and helps to be the best for our clients.

The Product Control team is organized by global product and region, and has a global footprint. The team is aligned to each of Citi's principle product lines or specialized areas such as Valuation Controls, Governance Policy Controls and Global Process Owners Group. Leading with a forward looking vision and passion to be the best requires our team to be strategic, motivated, innovative and embracing of agile work practices.

As an active partner across Citi, the team possesses and values a diversity of skills including both analytical and technical components required to manage the dynamic multi-faceted aspects of the role. Ability to think critically, with strategic foresight to anticipate future challenges and create cutting-edge controlled solutions, is complemented by technical coverage across accounting, modeling, risk and proficiency in the market and regulatory environment.

Business Background
The Structured Credit and Securitized Trading (SCST) and Risk Mitigating Hedging (RMH) businesses operate mainly in North America and Europe with a presence in   Japan and Asia Pacific.  The primary businesses include CLO Secondary Trading, ABS CDO Trading, Consumer Finance, Credit Correlation, Credit Repacks, Non-Agency Trading and ABS Trading. Each of these businesses is supported by their regional product control teams. The SCST business is a market maker for CLOs, ABS, ABS CDOs, RMBS and CMBS, bespoke tranches, index tranches, and structured repackaged notes. 

Job Description
We are recruiting for the senior Product Control lead for the SCST and RMH businesses who will partner with key stakeholders in the Front Office, Middle Office, Risk and other Finance functions to execute Product Control's responsibilities and mission statement for the SCST business.  The individual is also responsible for proactively driving the design and adoption of best-in-class controls, process optimization and innovation projects across the broader Product Control organization.

  • Hands-on management and leadership of approximately 10 team members across multiple office locations performing daily Profit and Loss (P&L) analysis and reporting
  • Embed a culture of effective challenge, maintain a robust control environment, as well as timely and transparent communication of insightful financial analysis
  • Proactively partner with Valuation Controllers to understand financial impact of independent price verification and other Fair Value Adjustment reviews
  • Actively manage and drive improvements in the process to close the books and records, ensuring accuracy of legal entity, regional, regulatory and external financial statements, consistency between management P&L and general ledger, and proper substantiation of balance sheet accounts
  • Critically review new product approvals and/or structured transaction reviews to ensure business rationale aligns with Citi's values, activity meets financial targets, and infrastructure capabilities will deliver straight-through processing for controlled and scalable growth
  • Partner with Accounting Policy to ensure adherence to appropriate accounting treatment
  • Respond to and support inquiries from local regulators and regional Finance peers as SCST subject matter expert
  • Identify, design and implement innovative approaches to optimize existing processes and controls


Skills and Experience Preferred
  • Strong analytical, problem-solving and organization skills with experience driving projects, and ability to implement change in a cross-functional environment
  • Comprehensive understanding of financial markets and valuation methodologies applicable to the pricing of liquid and illiquid investments
  • Knowledgeable with application of US GAAP and IFRS accounting guidelines
  • Strong written and verbal communication skills
  • Proficiency in Microsoft PowerPoint, Excel and Word

  • Proven track record in successfully combining creative thinking and sound analytical skills to problem solve and achieve productive outcomes
  • Demonstrates strong stakeholder and team-management experience to drive change in a cross functional environment
  • 8 plus years of relevant experience
  • Positive thought leader with strong communication and negotiation skills to motivate others into action
  • Thrives in a dynamic, time-sensitive environment and effectively prioritizes to meet deadlines
  • Strong understanding of finance, accounting fundamentals and experience with derivative products, or demonstrated history of being a quick learner and self-starter