This role is responsible for Citi Treasury supervision of Citi‘s legal entities in the Middle East and Northern Africa (MENA) cluster. The candidate will be responsible for oversight of liquidity, Balance Sheet, capital and interest risk and will ensure that governance best practices are followed throughout the Cluster. The Cluster Treasurer must ensure that the Countries under his/her oversight adhere to local regulatory and to Citi internal liquidity policy requirements. The Cluster Treasurer will lead and will be a voting member of the Country ALCOs in the MENA cluster.
The role is accountable for ensuring that Citi’s MENA franchise has a robust liquidity and capital management practices, consistent with global policy and local regulatory requirements. In addition, this role is responsible for the effective management of balance sheet resources within Citi’s legal entities in the MENA Cluster.
The Cluster Treasurer develops medium to long term plans and executes functional strategies for a large/complex country, cluster of countries. The Cluster Treasurer provides advice into strategic decisions affecting the Franchise and balance sheet and exercises independent oversight on issues/activities related to country liquidity, including the management of the liquidity portfolios. The position sits within EMEA Citi Treasury and is based in Dubai.
The role requires a substantial amount of interaction with stakeholders across the organization and is also a key leadership position within EMEA Citi Treasury.
The Cluster Treasurer will report to the CEEMEA Treasurer.
Alco Governance & Control
- Conduct the Country ALCOs, supporting the Country Treasurer and all businesses operating on the Country Balance sheet
- Ensure strong governance framework over Country Treasurers through Country Treasurer MCA, goal setting, and Country Treasurer Governance policy
- Ensure consistency of approach and support standardization of practices where needed, including ALCO, liquidity and Asset and Liability management, or other global treasury initiatives
- In coordination with the CCO and Country Treasurer, ensure that the local ALCO is effective in driving appropriate allocation and use of financial resources, addressing Franchise wide liquidity and capital requirements, stakeholders are engaged, balance sheet topics are covered and governance best practices are followed
- Oversee securities allocation and its appropriate funding to ensure appropriate allocation and use of financial resources
- Monitor consistency of current and future balance sheet usage with Plan, MYC and CCAR cycles
- Oversee funding, capital, liquidity and interest rate risk for the Citigroup legal entities in MENA
- Maintain a strong control environment and in compliance with both internal and regulatory requirements through daily monitoring of liquidity and escalate to Regional Treasury when required
- Review of Country Funding and Liquidity Plans as required by Global Liquidity Risk Management Policy including fungibility and inter affiliate transactions
- Ensure countries maintain effective and current Contingency Funding Plan
- Monitor macroeconomic and geopolitical headwinds in the region to make sure the balance sheet remains liquid under stress scenarios
- Closely coordinate with Regional Treasury and country teams to help roll out global initiatives (e.g. ILST), and provide support to meet MRA requirements in the Cluster
Fund Transfer Pricing
- Clearly articulate country’s FTP / LTP requirements, and be the final decision authority on the recommendations of FTP / LTP proposals for approval from Country ALCOs, Regional Treasurer and Regional ALCO
- Ensure consistent implementation of funds transfer pricing policies
- Oversee Capital’s quantity and quality and dividend repatriation plan. Make certain that local entity dividends equate to 100% of net income remittable earnings for the current / prior year unless explicitly granted forbearance through the annual Capital Plan process, or a Legal Entity Capital Request (LECR).
This role will require strong and thoughtful leadership skills to lead and represent EMEA Corporate Treasury Function in the Cluster. It will present an opportunity to further enhance ability to influence decision taking through better leadership and communications skills.
It will provide the successful candidate with:
- Substantial interaction with Country and Regional Management, including local CCO’s, Country Treasurers and business Cluster heads.
- The opportunity to lead and present at forums including Country Alco
- The ability to make a significant contribution to ensuring the firm meets its financial target through efficient use of balance sheet
- The opportunity to understand the regulatory requirement impacting Treasury both locally and globally
- The ability to be an influential decision maker on the utilization and planning of resources to support the Citi franchise
- Exposure to a broad range of business areas and products
- Prior Corporate Treasury, Markets Treasury and /or Finance experience required
- Understanding of Citi legal entity structure, systems and businesses
- Experience operating at a senior level with deep and robust history of meaningful engagement with senior leader, regulators and rating agencies
- Knowledge of capital market, transaction services and securities is desirable
- Strong and proven analytical skills
- Excellent oral and written communication skills
- Ability to handle tight deadlines and multi-task
- Ability to work under pressure and to prioritise objectives
- Must be able to understand complex financial concepts and distil into clear, concise and simplified concepts.
- Experience with understanding and preparing analytics for a senior audience
- University degree in Finance, Economic or Accounting or post graduate degree in similar disciplines.
- English language at proficient level both written and oral. Other languages are a plus
- Prior Treasury experience required
- Comfortable communicating across teams and geographies, taking into accounts cultural sensitivities and diverse working practices
- Ambitious and willing to learn. Able to quickly assimilate new information
- Diplomatic. Able to manage situations where conflicts of interest may arise.
- Able to act as a partner to the businesses
- Ability to take decision and/or escalate when appropriate.
- Able to deliver results and meet objectives within a defined timeframe
Time Type :Full time-
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