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3 months ago
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Prime Finance Middle Office - Stock Lending Client Service


Citi
Location: Belfast
Job type: Permanent
Category: Cost Jobs
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Career Opportunity

Prime Finance Middle Office - Stock Lending Client Service

* Primary Location: United Kingdom,Northern Ireland,Belfast
* Education: Bachelor's Degree
* Job Function: Operations
* Schedule: Full-time
* Shift: Day Job
* Employee Status: Regular
* Travel Time: No
* Job ID: 18033292

Description

Overview of Citi:

Citi, the world leading global bank, has approximately 200 million customer accounts and a presence in more than 160 countries and jurisdictions worldwide. 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. Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.

Team/Function Overview:

The Prime Finance department consists of four areas; Client Services, Inventory and Collateral Management, Trade Support and Control.

This middle office role falls within the Client Service group providing support to the Stock Lending and Equity Finance trading desks across multiple regions and it involves the daily management of Stock Lending transactions to both Hedge Fund and Corporate clients.

Role / Position Overview:

Responsible for supervising the middle office daily processes. To ensure that all Stock Borrow / Loan Bills, Returns and Recalls are agreed and processed in line with Citi’s control requirements. To ensure that daily controls are followed by the team to prevent risk to the firm.

Provide leadership and support to team members. Have direct impact and assist team members in achieving department goals via the setting and monitoring of individual goals and performing associated performance management reviews.

This is a high profile role with exposure to large volumes and high value items.

Key Responsibilities:

Client

* Be the 1st level of escalation for both external clients and internal stakeholder, resolving or escalating issues to senior management appropriately.
* Be responsible for the monitoring of incoming emails to the group. Prioritise client and urgent queries against daily deadlines.
* Be responsible for monitoring daily workflow for a team of approx. 7 people. Adapt client coverage against volumes. Manage multiple deadlines and cut-offs throughout the day.
* Process borrow and loan returns and recalls on a daily basis, month end billing and general client support when needed.
* Work closely with the front office on client relationships ensuring related strategy are implemented into the team.
* Enhance our client experience by driving process improvements to increase the automation of daily processes.

Control

* Supervise day to day operations of the MO team. Complete end of day checks in line with audit requirements.
* Monitor billing payments and recall bookings to ensure no financial loss to Citi.
* Perform daily post reconciliation controls checks and manage the reporting of aged items to control on a monthly basis.
* Perform approval checks for billing payments, stock and cash payment instructions and billing PnL adjustments to CCY deadlines.
* Work closely with Prime Finance control team to provide accurate information for internal and external audit requests.

Culture

* Proactively advertise departmental achievements on a weekly basis.
* Facilitate cross training to ensure information and best practises are shared throughout the department.
* Raise awareness of site wide events and drive change through annual Voice of the Employee results to continual improve employee experience.

Cost

* Approval and checker responsibility for all Stock lending billing and fee allocation that directly impacts the desk PandL
* Budgetary reviews and provide input in priority discussions for system changes and enhancements. Will have challenging goals around re-engineering and process improvement.

People Management

* Set SMART individual goals and assist with defining the department goals on an annual basis.
* Evaluate team member performance to recognise and retain the best talent, delivering feedback through 1-2-1 meetings and semiannual appraisals.
* Work with HR to lead new or additional resourcing for the team. This will include the advertising, interviewing and selection of candidates.
* Responsible for all on the job training tracked to a skills matrix and all attributed appraisals and development discussions.
* Seen as a technical expert and point of contact for technology

Development Value:

* Development of people and performance management skills by supervising and mentoring others.
* Develop knowledge of the project prioritization process learning to drive change within the business.
* Development of communication skills and exposure to senior management by providing management updates at a regional level and participating in site wide meetings.
* Develop knowledge on the team’s strategies and how to influence functional decisions that have a direct impact on the business.
* Build business relationships throughout the organization.
* Mobility possibilities into Prime Brokerage area.

Qualifications

Knowledge/Experience:

* Advanced knowledge of life-cycle of trade processing for Equity and Fixed Income products including trade capture, PandL, settlement and reconciliations for the Stock Borrow / Loan product area.
* Advanced understanding of the portfolio valuations.
* Customer service experience including providing feedback and complaint handling.
* Experience of applying technical knowledge of concepts and procedures to resolve complex issues.
* Experience of working in a deadline driven environment.
* Minimum supervisory experience, including day to day supervision of a small team, staff resourcing and performance management.
* Work experience within the Financial Services Industry is a benefit.

Skills:

* Computer literate - Ability to quickly grasp several in house systems including Microsoft office applications.
* Communication – Strong communication and diplomacy skills to communicate effectively across the organization.
* Problem solving - Resolve complex problems where the analysis of situations or data requires an in-depth evaluation of basic procedures and industry standards.
* Planning and organising – Ability to work independently and multitask under pressure

Qualifications:

Mandatory

* GSCE “A” Level standard or equivalent
* Good numeric skills

Desirable

* Bachelors degree
* Industry exams e.g. FSA module exams or a full affiliate status

Competencies:

* Attention to detail – Diligently attends to details and pursues quality in accomplishing tasks.
* Leadership – Ability in developing and empowering others to accomplish their goals and resolve issues.
* Proactive - Identifying situations that could result in new business and developing recommendations tailored to the client.
* Diverse - demonstrate an appreciation of a diverse workforce by using differences to add value to decisions or actions for organisational success

What we Offer:

As well as a competitive salary and consideration for a yearly discretionary bonus Citi offer;

* 23 days paid annual leave
* Award winning pension scheme,
* Life assurance and
* Private medical insurance with Bupa healthcare.

In addition, we offer a competitive maternity, paternity and adoption leave scheme and employees also have the option (provided they have a student loan from the Student Loan Company) to divert saver and company match contributions to their student loan. We pride ourselves on our ability to offer employees a number of lifestyle benefits including; on site restaurant and coffee shops, online shopping and concierge service and subsidised clubs and societies.

Our select benefit package offers you the opportunity to customise your benefits according to your own lifestyle preferences and includes corporate discounts, memberships and a range of additional extras.

Our vast range of diversity networks and on site multi faith room demonstrates Citi’s commitment to growing a diverse workforce.

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Career Opportunity

Prime Finance Middle Office - Stock Lending Client Service

* Primary Location: United Kingdom,Northern Ireland,Belfast
* Education: Bachelor's Degree
* Job Function: Operations
* Schedule: Full-time
* Shift: Day Job
* Employee Status: Regular
* Travel Time: No
* Job ID: 18033292

Description

Overview of Citi:

Citi, the world leading global bank, has approximately 200 million customer accounts and a presence in more than 160 countries and jurisdictions worldwide. 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. Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.

Team/Function Overview:

The Prime Finance department consists of four areas; Client Services, Inventory and Collateral Management, Trade Support and Control.

This middle office role falls within the Client Service group providing support to the Stock Lending and Equity Finance trading desks across multiple regions and it involves the daily management of Stock Lending transactions to both Hedge Fund and Corporate clients.

Role / Position Overview:

Responsible for supervising the middle office daily processes. To ensure that all Stock Borrow / Loan Bills, Returns and Recalls are agreed and processed in line with Citi’s control requirements. To ensure that daily controls are followed by the team to prevent risk to the firm.

Provide leadership and support to team members. Have direct impact and assist team members in achieving department goals via the setting and monitoring of individual goals and performing associated performance management reviews.

This is a high profile role with exposure to large volumes and high value items.

Key Responsibilities:

Client

* Be the 1st level of escalation for both external clients and internal stakeholder, resolving or escalating issues to senior management appropriately.
* Be responsible for the monitoring of incoming emails to the group. Prioritise client and urgent queries against daily deadlines.
* Be responsible for monitoring daily workflow for a team of approx. 7 people. Adapt client coverage against volumes. Manage multiple deadlines and cut-offs throughout the day.
* Process borrow and loan returns and recalls on a daily basis, month end billing and general client support when needed.
* Work closely with the front office on client relationships ensuring related strategy are implemented into the team.
* Enhance our client experience by driving process improvements to increase the automation of daily processes.

Control

* Supervise day to day operations of the MO team. Complete end of day checks in line with audit requirements.
* Monitor billing payments and recall bookings to ensure no financial loss to Citi.
* Perform daily post reconciliation controls checks and manage the reporting of aged items to control on a monthly basis.
* Perform approval checks for billing payments, stock and cash payment instructions and billing PnL adjustments to CCY deadlines.
* Work closely with Prime Finance control team to provide accurate information for internal and external audit requests.

Culture

* Proactively advertise departmental achievements on a weekly basis.
* Facilitate cross training to ensure information and best practises are shared throughout the department.
* Raise awareness of site wide events and drive change through annual Voice of the Employee results to continual improve employee experience.

Cost

* Approval and checker responsibility for all Stock lending billing and fee allocation that directly impacts the desk PandL
* Budgetary reviews and provide input in priority discussions for system changes and enhancements. Will have challenging goals around re-engineering and process improvement.

People Management

* Set SMART individual goals and assist with defining the department goals on an annual basis.
* Evaluate team member performance to recognise and retain the best talent, delivering feedback through 1-2-1 meetings and semiannual appraisals.
* Work with HR to lead new or additional resourcing for the team. This will include the advertising, interviewing and selection of candidates.
* Responsible for all on the job training tracked to a skills matrix and all attributed appraisals and development discussions.
* Seen as a technical expert and point of contact for technology

Development Value:

* Development of people and performance management skills by supervising and mentoring others.
* Develop knowledge of the project prioritization process learning to drive change within the business.
* Development of communication skills and exposure to senior management by providing management updates at a regional level and participating in site wide meetings.
* Develop knowledge on the team’s strategies and how to influence functional decisions that have a direct impact on the business.
* Build business relationships throughout the organization.
* Mobility possibilities into Prime Brokerage area.

Qualifications

Knowledge/Experience:

* Advanced knowledge of life-cycle of trade processing for Equity and Fixed Income products including trade capture, PandL, settlement and reconciliations for the Stock Borrow / Loan product area.
* Advanced understanding of the portfolio valuations.
* Customer service experience including providing feedback and complaint handling.
* Experience of applying technical knowledge of concepts and procedures to resolve complex issues.
* Experience of working in a deadline driven environment.
* Minimum supervisory experience, including day to day supervision of a small team, staff resourcing and performance management.
* Work experience within the Financial Services Industry is a benefit.

Skills:

* Computer literate - Ability to quickly grasp several in house systems including Microsoft office applications.
* Communication – Strong communication and diplomacy skills to communicate effectively across the organization.
* Problem solving - Resolve complex problems where the analysis of situations or data requires an in-depth evaluation of basic procedures and industry standards.
* Planning and organising – Ability to work independently and multitask under pressure

Qualifications:

Mandatory

* GSCE “A” Level standard or equivalent
* Good numeric skills

Desirable

* Bachelors degree
* Industry exams e.g. FSA module exams or a full affiliate status

Competencies:

* Attention to detail – Diligently attends to details and pursues quality in accomplishing tasks.
* Leadership – Ability in developing and empowering others to accomplish their goals and resolve issues.
* Proactive - Identifying situations that could result in new business and developing recommendations tailored to the client.
* Diverse - demonstrate an appreciation of a diverse workforce by using differences to add value to decisions or actions for organisational success

What we Offer:

As well as a competitive salary and consideration for a yearly discretionary bonus Citi offer;

* 23 days paid annual leave
* Award winning pension scheme,
* Life assurance and
* Private medical insurance with Bupa healthcare.

In addition, we offer a competitive maternity, paternity and adoption leave scheme and employees also have the option (provided they have a student loan from the Student Loan Company) to divert saver and company match contributions to their student loan. We pride ourselves on our ability to offer employees a number of lifestyle benefits including; on site restaurant and coffee shops, online shopping and concierge service and subsidised clubs and societies.

Our select benefit package offers you the opportunity to customise your benefits according to your own lifestyle preferences and includes corporate discounts, memberships and a range of additional extras.

Our vast range of diversity networks and on site multi faith room demonstrates Citi’s commitment to growing a diverse workforce.

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
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