The Global Head of ICG Surveillance will be responsible for overseeing and providing direction to the regional Market Surveillance, Information Barrier Surveillance, Employee Trading Surveillance, Retail Brokerage Surveillance, Outside Activities and the Communications Surveillance teams . His/her global responsibilities will include driving best practices and standards, setting global priorities and coordinating global development and leading the global metrics program within Institutional Clients Group (ICG) Compliance.
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Responsibilities include managing the following groups:
Market Surveillance develops, maintains and conducts surveillance reviews relating to potential market abuse and market conduct issues. The teams support the Markets and Securities Services businesses and monitors activity across various asset classes, including: equities, fixed income, commodities, foreign exchange and derivatives. Market Surveillance also supports the regulatory inquiry process and contributes to internal reviews and investigations. The teams closely coordinates with Product Compliance officers and attorneys, in-business risk and control representatives and business supervisors by escalating matters as necessary and identifying trends and patterns of activity.
Information Barrier Surveillance Groups (IBSG) and Employee Trading Surveillance Groups (ETSG) partner with the Firm's Control Group to maintain and enforce information barriers separating private-side and public-side businesses. IBSG monitors daily trading activity to ensure the integrity of the firm's information barriers. ETSG fulfills its mandate by administering an employee personal trading pre-clearance process, imposing certain trading restrictions and monitoring employee personal trading activity for adherence to the firm's policies and potential conflicts of interest.
Retail Brokerage Surveillance develops, maintains and conducts surveillance reviews relating to private client sales practice and suitability issues. The teams support the Citi Private Bank and Private Wealth Management businesses and monitors activity across multiple platforms and asset classes. The teams work closely with other Compliance functions supporting the private client businesses as well as in-business supervisors and senior managers.
Outside Activities (OA) provides compliance oversight, tracking and guidance related to employees’ outside activities, including approval of outside personal brokerage accounts, investments, directorships and affiliations. OA leads the regional outside activities teams to set standard practices and promote consistency and drives innovation through the development and use of employee-facing applications.
Communications Surveillance provides strategic oversight for the firm’s supervisory and control framework regarding communications (voice and written) and interpretative guidance regarding the Firm policies and regulatory requirements for various businesses; administers the communications surveillance platforms; performs surveillance over the communications on such platforms, and performs more targeted communications reviews, as appropriate by the in-business supervisors.
The Global Institutional Client Group (ICG) Compliance Metrics Program encompasses the research, assessment and ongoing administration and maintenance of ICG Compliance information systems and metrics used by ICG Compliance for the identification of key risk indicators (KRIs) and trends, the incorporation of such information into risk assessments, Compliance Testing, etc., and sharing with various business areas and other control functions, as appropriate.
The Global Head will report to the Global Head of ICG Markets and Securities Services Compliance. This Managing Director role will be based in NY Metro or London with recurring travel to the major regional hubs in New York, London, Hong Kong, Tokyo, and Mexico/LATAM (Miami), other offices, including surveillance and technology-focused locations (including Buffalo, Belfast and Mumbai, as appropriate).
The candidate will be required to manage and set direction for procedures, policies and guidelines for Global Surveillance and establishing relationships with regulators, industry associations and advocacy groups. He/she must establish and promote baseline consistency and conformity across groups and set priorities and strategic direction. The role requires a compliance executive who will engage with, and be very connected to, the Product Compliance and Control Group teams and in-business risk and control teams for Markets and Securities Services and Investment Banking and Operations & Technology. He/she will also provide oversight and strategic leadership and drive progress relating to various technology projects for the surveillance and case management tools and applications used by Global Surveillance.
This role will have responsibility for:
Building relationships with stakeholders by exhibiting strong subject matter expertise and bringing a sense of urgency to pro-actively support client groups
Providing leadership in collaborating with regional teams to set global direction and standards
Enhancing team efficiency and surveillance tools and applications to improve existing systems and processes
Coordinating with IT for the timely implementation of enhancements and proactively addressing potential issues
Exhibiting deep knowledge of Citi’s business, products and services to identify opportunities for the team to contribute and be more impactful
Participating in developing the longer term strategy and execution plan to achieve best in class processes and procedures to increase efficiencies and enhance the overall efficacy of the programs
Providing leadership in creating and implementing policy and establishing the risk management framework supporting the policy
Qualifications
The successful candidate will have strong technical knowledge of compliance regulations and requirements, surveillance systems, and the full range of capital markets products developed through 15+ years of experience with another complex, global financial institution, regulator or related industry participant.
Specifically, the successful candidate will have:
A solid understanding of the equity, fixed income, commodities, FX and derivatives markets
Credibility as a subject matter expert and experience dealing with issues that have a high impact at all levels of the organization
A wide knowledge of emerging surveillance technology and methodologies
An ability to be “hands on” and “in the trenches” with the direct team, while also bringing a sense of strategic vision and a global sensibility to the function
A high degree of comfort and facility in interacting with senior executives relating to the care and handling of their personal activities (e.g., personal trading accounts, external affiliations, non-executive directorships, etc.)
Ability to navigate and negotiate through conflicting demands to maintain focus on priority objectives while ensuring key stakeholders’ needs are met
Strong team leadership, communication, interpersonal and management skills, with a track record of leading through change and the ability to tailor the message to various audiences
The ability to thrive in a complex, highly matrixed, global environment
A depth of understanding of technology systems and how surveillance works, with the ability to drive significant enhancements, manage vendor relationships, and work across the technology group, compliance technology project management group, global peers and other key stakeholders to drive improvements to current tools and applications
Demonstrable experience in partnering with internal and external IT delivery teams regarding the management of project lifecycle components, including business requirements development and user acceptance testing
An undergraduate university degree from a recognized academic institution. Preference for a law degree and securities licenses/qualifications
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