Saudi Arabia Operations & Technology is a combined function incorporating all of the Operations & Technology support areas across Saudi Arabia Franchise. The population of the Saudi Arabia O&T organization is 5 people with an O&T direct expense budget and supporting a current annual revenue base of approx..$100mio. The franchise is rapidly growing after the implementation of Cash Securities/Equities and DCC Businesses late in 2019 with the planning of full banking license ASAP.
Citi Saudi Arabia Equities Operations supports the cash equities , stock borrowing and lending and derivative trading activities of the business. The role is a SME role supporting the processing and reconciliations of Equities/Cash Securities Operations in Citi Saudi Arabia (CSA)
The role includes frequent interaction with the various Finance teams supporting Balance Sheet Substantiation and GL proofing, Operational Line Control who monitor cash/nostro breaks and intercompany suspense breaks, as well as internal interaction with Front Office, Cash Equity Operations and Citi Global Operations Centres, Technology, Legal/Compliance, ORM, Internal Audit, etc.
Responsibilities:
Gain a comprehensive knowledge of in-house settlement/trade/financial systems
Provide support for section manager
Represent Operations in local and regional projects
Maintain daily processing flows and provide volume insensitive quality service to the finance desk.
Review and monitor daily reconciliations of cashflows, intersystem open positions and clearing statements and break resolution.
To document and refine daily procedures for the Operations role on an ongoing basis as the business grows.
To assist in the development of settlement and clearance processes as structures change in the market
Ensure adherence to corporate policies and local policy as well as local and global regulatory environment.
Understand and accurately evaluate risks and controls as they relate to your function.
Use available technology and automation tools to improve processes within the department.
Reporting of risk exposure, P&L and cash flow to local and global management
MIS reporting
Produce and manage KRIs for group and partner management. Plan and action appropriate steps to mitigate risk and enhance client experience. .
Support Regulatory Reporting.
Trade Support, trade allocations, confirmations, and matching effectively utilizing 3rd party vendor systems
Equity settlements ? trade monitoring and Correction of erroneous trades
Stock Borrowing management.
Equities Reconciliations
Investigating and managing rejected trades, late settlements, buy ins ? etc.
Timely management of exceptions in trade flow, with appropriate escalation for aged items.
Sanction Screening ? unloading items for screening into system and reporting any potential hits
Act as back-up for other team members while away on leave.
Develop front-to-back understanding within the offshored support teams, ensuring clearly defined responsibilities and fully understand the risks associated in the process and handoffs.
Attend the weekly /monthly reviews with Finance and Operations Line Control where aged break monitoring and reconciliations are independently validated and reported.
Quick response to Front Office. Middle Office, Product Control, Finance and Global Operations team?s enquiries.
Develop and maintain relationships with Operations & business partners to support the agreed Operations strategy and ensure a partnership approach for quick resolution of escalated issues.
Maintain Citi internal control standards, through risk self-assessments (Managers Control Assessments) and including the timely implementation of internal and external audit points together with any issues raised by external auditors and regulators.
Qualifications:
Minimum a Bachelor?s degree.
5-10 years banking experience, and minimum of 3 years in Cash Securities Operations or Middle Office
Capital Markets Examination 1 (CME1) Certification.
Capital Markets Examination 2 (CME2) Certification.
Product and Market knowledge: understanding of Stocks/Cash Securities as well as the Saudi market?s nuances
Microsoft office knowledge required: MS Excel experience is a must
Education:
Bachelor?s Degree/University degree or equivalent experience
Capital Markets Examination 1 (CME1) Certification.
Capital Markets Examination 2 (CME2) Certification.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.Knowledge/Experience:
In-depth knowledge of Cash Securities Operations
Knowledge and experience in Equities Operations and min 3 years of experience in this field.
Superior skills to continually measure, enhance and optimize cash securities operations.
Very good knowledge of core Citi Systems
Knowledge of internal Compliance requirements and MCA/GRC process
Knowledge of Continuity of Business process
Ability to challenge existing processes while efficiently on-boarding new ones in the ever-evolving Saudi market
Ensuring an error-free communication between Exchange, Custodians, Agents, front and back offices
To lead and oversee the implementation of the various CMA/Tadawul initiatives with the OMS
-------------------------------------------------Job Family Group: Operations - Transaction Services-------------------------------------------------Job Family:Securities and Derivatives Processing------------------------------------------------------Time Type:Full time------------------------------------------------------Citi is an equal opportunity and affirmative action employer.Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.Citigroup Inc. and its subsidiaries ( Citi?) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.View the EEO is the Law poster. View the EEO is the Law Supplement.View the EEO Policy Statement.View the Pay Transparency Posting
