The global Head of Brokerage Services, Futures and Derivatives Clearing Operations, will report to the Global Head of Futures and Derivatives Clearing. The successful candidate is expected to be both a subject matter expertise in brokerage and, critically, to be an agent of change. Leading direct and indirect teams, in partnership with business, Transformation and Technology, the incumbent will transform legacy processing and operating models to provide Citi with scale and control commensurate to business trajectory. Tangible experience in successfully leading complex programs of change, in positively reinforcing idea generation, idea capture and implementation, with clear data capture and metric visualization, plus risk mitigation, are as critical in this function as is the detailed understanding of the impact that brokerage has on financial ledgers. In current state, the Brokerage team is comprised of 46 individuals based in the United States (Tampa), the United Kingdom (Belfast) and with a third-party vendor in India. Sales, Trading, business and client counterparts are scattered globally with key internal stakeholders in London and New York. As part of the remit, the successful candidate will be asked to consider the location strategy and operating model for brokerage and to determine whether the current model is correct or whether there is opportunity to enhance service and control levels by making changes. There is potential for the successful incumbent to explore broader, cross-product brokerage services on behalf of Markets Operations. As part of business-as-usual activity, the brokerage team are accountable for the timely reconciliation, receipt and payment for all futures and cleared brokerage due to or payable from Citi Markets globally, except for some smaller local markets which are supported by domestic branches. It is a complex process performed across multiple platforms, with transition to next generation technology critical to the bank’s success. Supported product lines include Client plus House futures and cleared contracts and involve dealing with a diverse set of external clearing and executing parties, some of which currently do not use industry best practice, for example, Atlantis. Non-Atlantis brokers remain under review and the management of trading plus brokerage with such parties will form an important part of this role. The brokerage team are also heavily involved in the management of give up agreement and rate card execution, in partnership with Sales, Trading and expense management, and the escalation of situations where parties are not performing as mandated. The individual will be invested in and assist in helping to execute our broader Markets Operations strategy, driving our target operating model, with a proactive People agenda, ensuring a robust control environment, enhancing client service capabilities, and simplifying/ transforming platforms to build appropriate scale. The individual will be held accountable for ensuring that risk is correctly defined and mitigated as determined by Firm risk mandates. Citibank is subject to extensive and complex regulatory reporting requirements covering all asset classes. These regulatory reporting requirements are evolving in nature, and as such the candidate will be required to have extensive engagement with various in-country and overseas stake holders to ensure timely and seamless delivery of these regulatory framework and reporting requirements as it pertains to their remit and to that of their team.

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