Finance, Booking Model Management APAC Regional Lead, SVP
June 19, 2020
Citi's Booking Model Management Team (BMMT) is responsible for defining and optimizing how Citi organizes, utilizes and controls its legal entity organization, reportable to Citi's Controller & Chief Accounting Officer. As part of this mandate, BMMT centrally coordinates the firm's efforts to govern, control, document and optimize its booking model across its legal entity and jurisdictional footprint. Reporting Structure Citi continues to strengthen its booking model capabilities across its geographic footprint. This role will lead the booking model engagement with all four lines of defense covering Citi's APAC presence, reporting into the EMEA/APAC Head of Booking Model Management located in London. This role will be located in APAC, ideally in Hong Kong. This candidate will act as a strategic partner across business lines and control functions to execute the core booking model governance and documentation requirements as they pertain to Citi's APAC franchise. These responsibilities include actively participating in Product Approval Committees (where BMMT is a voting member) sourced out of APAC; and leading the effort to document the booking model of Citi's operating Material Legal Entities located in APAC (6 of Citi's 12 operating MLEs are located in Hong Kong, Singapore and Japan). The candidate will also partner with 1st and 2nd-line stakeholders to deliver booking model optimization opportunities necessary to meet the firm's goals, and will partner with centralized BMMT resources in NYC to embed new T+1 booking model controls into the BAU Controllers responsibilities in the region. Furthermore, the role provides outstanding opportunities for exposure to senior functional and business leadership across the firm, as well as engagement with Citi's suite of internal audit and regulatory bodies who oversee the firm's booking model practices and capabilities. Certain other activities pertaining to the role include the following:
Represent BMMT in APAC-led Product Approval Committee proceedings, focusing on the potential impact to Citi's Booking Model brought by each proposal. Articulate and escalate conflicts with the Booking Model Policy to achieve negotiated results that conform to Citi standards.
Partner with 1st and 2nd line stakeholders to deliver well-crafted Booking Practice Documents describing Citi's Booking Model, highlighting the changes necessary to meet the firm's go-forward goals Establish close interaction with Tax, Treasury, and other 1st- and 2nd-line functions responsible for modifying BAU behaviors to optimize returns.
Serve as regional lead for regulatory engagement regarding booking model topics, and ensure consistency and quality of materials shared with regulators and other internal/external stakeholders.
Deliver thought leadership and support the implementation of changes, if necessary, to the Booking Model framework (Principles, Policy, and Standards) to enhance Citi's booking practices and satisfy evolving regulatory expectations.
Well-developed product knowledge in capital markets and/or institutional banking products.
Experience in a client-facing role or product-aligned control function or internal audit role is a strong plus.
Strong understanding of controls and Citi's control environment Exceptional communication skills, including well-developed verbal, written, presentation and powerpoint skills.
Must be able to quickly create and deliver concise, informative executive summaries for senior management.
Must be comfortable presenting such analyses to senior management and advocating in favor of a point of view. Creative skills necessary to craft persuasive, well-researched narratives for senior consumption. Aptitude for translating strategy into execution in a complex and cross-functional organization.
Minimum 10 years of proven experience in driving results with a strong understanding of the financial services industry. Strong attention to detail with proven ability to distill complex ideas into simple stories Good audit instincts and ability to apply independent judgment to historical business practices.
Ability and willingness to challenge the status quo. A self-starter with ability to independently manage work (the candidate will be based in Asia with the manager in London) and drive multiple deliverables concurrently with minimal oversight.
Ability to gain consensus and agreement across disparate functions, products and geographies. Must have ability to stay ahead in a constantly changing environment. Must be a change agent, ensuring others understand current direction.
An undergraduate degree is required.
A MBA, CPA or CFA is preferred.
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