FRTB/XiNG Programme Lead
Description Job Purpose
- Primary Location: United Kingdom,England,London
- Other Location: United States,New York,New York
- Education: Bachelor's Degree
- Job Function: Project and Program Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 19017707
The Global Regulatory Reform Team work with Global Markets Trading and Sales businesses and various functions including Legal, Compliance, Risk, Finance and O and T to identify, mobilize and execute Global Market's response to structural regulatory reform across business lines, products and entities. The primary mission of the team is to implement major regulatory reform change in the most efficient way for Global Markets and its clients.
This role encompasses two different but complementary initiatives which both have a material impact on the Markets business. These are:
- The Fundamental Review of the Trading Book (FRTB) the final rules for which have just been published by the Basel Committee and which requires a complete redesign (Front to Back) of the infrastructure for calculating Market Risk within Citi. Many of the requirements are mandatory however successful implementation will provide a major benefit to Citi's Market Risk capital.
- XiNG - XiNG is an underlying set of standards and tools which allows Citi to deliver on the FRTB requirement but which also brings major functionality improvements to how trades are valued and revalued consistently across the Citi landscape. The job holder will be the business sponsor of the XiNG toolset being developed by MSST as well as sitting on the MQA chaired XiNG Standard setting body.
As part of the overall FRTB program, the job holder will be responsible for leading multiple projects delivering business process and supporting changes.
The FRTB program requires very close partnership with everyone involved in the end to end Market Risk process and the job holder will be expected to work closely with senior stakeholders and colleagues in the front office, risk and other control functions to ensure Citi has a cost effective and robust FRTB solution.
It is anticipated that the role will have a number of resources working for them (permanent/temporary staff needing direction and supervision or consultants requiring management to deliverables).
The role will evolve as the FRTB project moves from infrastructure build to business optimisation however set out below are some of the responsibilities of the role.
Qualifications Knowledge, Experience and Skills:
- Contributing to the design, and leading the implementation and quality assurance of end to end FRTB process
- Ensuring all stakeholders have a clear understanding of: what is required for success (which includes responsibility for ensuring the end to end process flows are efficient and include all required trades/positions; the main project dependencies and the detailed deliverables that their product area or function must provide.
- Accountable for the successful delivery of change in line with overall programme objectives and timescales
- Identify, prioritise and proactively manage risks, exceptions and issues
- Reporting of status, risks and issues to senior management
- Coordinating XiNG Data/XiNG Risk Store ensuring the IT development delivers a high quality product which is fit for use.
- Resource management and task supervision of PMO team working on FRTB related work-streams
- Participation in industry meetings and conferences, interacting with peers from other financial institutions
- A point of contact and subject matter expert for internal and external related queries
Excellent understanding of, and demonstrable knowledge of market risk management practices, processes and models, together with the full markets trade lifecycle across pricing, trading and risk management plus back office and control functions and associated infrastructure.
Able to demonstrate extensive knowledge of:
Skills and Competencies
- Structured programme management in a markets front office environment
- Subject matter expertise in, and understanding of, market risk management techniques, models and processes, ideally detailed knowledge/experience of Market Risk calculations
- In depth detailed analysis of legal and regulatory material and subsequent business process impact/gap analysis
- Successful delivery of change requiring significant/senior stakeholder engagement and coordination
- Ability to develop, lead and complete projects with multiple business, support and components using appropriate matrix management of delivery teams across trading and support functions
- Good awareness and understanding of the key drivers, industry challenges and opportunities of the structural regulatory reform of markets businesses, specifically in area of trading book risk management
- Technology development skills, in particular practical knowledge of the challenges faced by large end to end programmes with multiple IT hand offs and the associated need for high quality data transmission.
- Must be able to demonstrate extensive expertise in:
- Leadership in a co-operative and collaborative working environment
- Communication, Interpersonal and organizational skills to mobilize and motivate delivery
- Management and facilitation to achieve objectives, with both local, remote teams relying on a heavily matrix structure
- Significant attention to detail with an ability to contribute effectively to formative strategic development where necessary
- A practical and goal orientated focus with excellent verbal and written communication skills utilizing different media, to effectively communicate with senior management, clients and regulators
- College/university education preferred, but appropriate industry knowledge/experience and exceptional delivery track record is as important.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer