Citi APAC - Markets - T0 Controls – Hong Kong - VP in Hong Kong

  • Primary Location: HK,Hong Kong,Hong Kong

  • Education: Bachelor's Degree

  • Job Function: Risk Management

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: No

  • Job ID: 17047276

Description

Working as part of the global Equities regional business, the role would entail daily responsibility to ensure that the T0 process controls are being successfully executed for each of the regional business lines.

The role is required to ensure timely execution and booking of trades, from trading thru middle office processes, as well as the timely trader affirmation of risk and P&L at the end of the day.

Working with Sales & Trading, Business Management, Product Control, Middle Office and Risk Management, the role is responsible for ascertaining that complete and correct controls are in place on trade date, preventing knock-on operational risk downstream due to breaks that occur in the absence of this control process.

The role therefore has a critical part to play in ensuring best business practice, as well as satisfying the focus of several regulatory bodies who scrutinize our end of day processes and the resultant T+1 adjustment metrics.

Job Background/context:

The global Equities business facilitates client flow in each main trading location across 3 main product types: Cash, Derivatives & Delta1.

Client trades can be facilitation only (Agency) or “Risk on” (Principal) basis. Trades coming into the business must be executed and booked onto Citi’s systems in a timely fashion. Failure to do so can present legal, regulatory and operational risk, as well as exposing the business to potential adverse capital treatment.

Further, the trading books are managed on a market risk basis and monitored as such by our regulators; as such, it is important that this market risk is correctly represented at the end of the day and that correctness is affirmed by the respective trading desk heads accountable for the accuracy of their books.

Therefore, in order to ensure the completeness and accuracy of the books at the end of the day, it is critically important that the respective client accounts are in good order, trades are booked in a correct, efficient manner, and that the data environments in which the portfolios are marked / risk-managed are robust.

This role will focus on ensuring that the key aspects of our trade date processes are correct on trade date itself by monitoring the key metrics supporting the process elements and taking remedial action when problems arise. Reporting, statistic gathering and trending around these key process metrics is also a part of the role and crucial to helping the business to understand where to focus corrective action.

This role will also involve liaising with the respective front, middle and back office teams, as well as IT, to ensure the smooth execution of the process.

Key Responsibilities:

  • Ensure trade date processes are executed correctly and in a timely fashion; work with the respective regional groups to take immediate remedial action where problems arise.

  • Track, trend and report on issues in the context of the broader Equities Controls Governance framework.

  • Work with Product Control function to tie T+1 P&L or PAA adjustments back to issues observed at T0 and work to form a remediation plan for recurring issues.

  • Project manage the remediation plan by ensuring the process and technical changes are being implemented by Front Office, Middle Office, MQA or IT, as appropriate.

Development Value:

  • A great opportunity for the correctly motivated individual to get exposure to the full trade lifecycle of the Equities business and develop relationships with many different revenue-generating and control functions throughout the firm.

Qualifications

Knowledge/Experience

  • Good experience with trade processes & lifecycles, preferably with direct Equities experience.

  • Excellent process and task management skills; capable of seeing the bigger picture as well as strong focus on day-to-day execution.

  • Project management skills and experience driving change in the large institutions

Skills:

  • Strong communication skills

  • Tenacious hands-on problem-solving skills.

  • Excellent task management skills and capable of keeping many different moving parts in view at once.

  • Strong project management skills; ability to balance short-term and medium-term remedial action.

  • Ability to identify and manage dependencies across large parts of the front office and control functions.

  • Focus on execution and getting the job done

Qualifications :

  • Minimum of 5 years’ relevant Markets experience, most relevant would be in a control function or Middle Office.

  • Strong evidence of being able to think laterally and see bigger picture, as well as ability to execute.

Competencies

  • Highly driven and Goal Oriented

  • Highly organized and efficient at prioritising tasks

  • Attention to detail and accuracy

  • Excellent communication skills

  • Fast-thinking; nimble at joining the dots