North Asia Cluster Treasurer
This role is responsible for Citi Treasury supervision of Citi‘s legal entities in the North Asia Cluster (China, Hong Kong, Korea, Taiwan). The candidate will be responsible for oversight of liquidity, balance sheet, capital and interest rate 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 policy requirements. The Cluster Treasurer will be a voting member of the Country ALCOs in the North Asia Cluster.
The role is accountable for ensuring that the North Asia 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 North Asia Cluster.
The Cluster Treasurer develops medium to long term plans and executes functional strategies for a large/complex country, or cluster of countries. Cluster Treasurer provides input into strategic decisions affecting the franchise and balance sheet. He/she holds management responsibility and authority to make independent decisions on issues/activities related to country liquidity, including the management of the liquidity portfolios.
The position sits within APAC Citi Treasury and is based in Hong Kong or Singapore.
The role requires a substantial amount of interaction with stakeholders across the organization and is also a key leadership position within APAC Citi Treasury.
The Cluster Treasurer will report to the APAC Regional Treasurer.
ALCO Governance and Control
- Voting member of Country ALCOs. Representing Citi Treasury to ensure the local ALCO is effective in driving appropriate allocation and use of balance sheet resources, new balance sheet initiatives are covered, franchise wide liquidity requirements are addressed, stakeholders are engaged, and governance best practices are followed.
- Work with the CCO, Country Treasurer and country businesses to ensure the optimization of current and future balance sheet usage across businesses with respect to returns, while maintaining prudent structural liquidity, taking appropriate market risk positions, as well as monitoring consistency with Plan, MYF and CCAR cycles.
- Oversee securities allocation and its appropriate funding to ensure appropriate allocation and use of financial resources.
- Oversight of stress testing exercises, including exposure level and metrics trends. Escalate to Regional Treasurer where necessary.
- Execute the Regional Treasurer’s controls in ensuring strong governance framework over Country Treasurers through annual goal setting / review, Country Treasurer MCA, and Country Treasurer Governance Policy.
- Ensure consistency of approach and support standardization of practices where needed, including ALCO, liquidity measurement and reporting standards, asset liability management processes, or other global treasury initiatives.
Balance Sheet Management
- Support and facilitate Regional / Cluster senior management in country balance sheet reviews, discussions and decisions, including balance sheet projection exercises (Plan / MYR), funding strategy, asset liability management, return enhancements, and other Treasury related matters whilst ensuring Country ALCO’s commitment on key balance sheet management priorities are aligned with Citi’s corporate objectives.
- Properly evaluate country’s balance sheet related strategic initiatives, and provide Citi Treasury advices, endorsement, or approvals per corporate policies.
- Early warning of any balance sheet concerns with prompt escalation in order to ensure balance sheet risks are addressed in a timely manner through mitigating actions.
Fund Transfer Pricing
- Ownership and approval authority of the FTP / LTP at country level. 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 funding, capital, liquidity and interest rate risk for the Citigroup legal entities within the Cluster.
- Maintain strong control and full compliance with both internal and regulatory requirements through daily monitoring of liquidity and escalate to Regional Treasury when required.
- Monitor macroeconomic and geopolitical headwinds in the Cluster to make sure the balance sheet remains liquid under stress scenarios.
- Review of Funding Liquidity Plan and Contingency Funding Plan with proper assessment of Country Treasurer’s proposal of liquidity risk metrics’ trigger levels, fungibility and inter affiliate transactions, liquidity capacity requirements, and suitability of non-standard liquidity assumptions where applicable.
- Closely coordinate with Regional Treasury and Country Treasurers to roll out global initiatives and provide regional support to meet MRA or MRIA requirements.
- Monitor and approve all liquidity portfolio movements. Ensure that liquidity, interest risk and balance sheet limits are recommended, set and monitored effectively.
- Drive capital and dividend repatriation plan requirements.
- Make certain that local entity dividends equate to 100% of 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 APAC Citi 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 CCOs, Country Treasurers and business Cluster heads.
- The opportunity to influence 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 Citi 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
Job Family Group:Finance
Job Family:Balance Sheet Control
Time Type:Full time
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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.
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