Citi Correspondent Bank Risk Analyst - Bank Network Management in Budapest, Hungary
Primary Location: Hungary,Budapest,Budapest
Education: Bachelor's Degree
Job Function: Risk Management
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 17070207
Citi Service Center Budapest was established in 2005 to serve 54 countries across EMEA and globally in some functions. We have grown over the years to boast over 25 separate functions, exceeding 1,500 employees and we continue to expand. Our population is diverse and is representative as a microcosm of Citi globally.
Global Bank Network Management is part of the O&T Division. BNM manages key relationships with the global agent bank and custody service providers, Finance, Regulatory, Legal & Compliance, Global Operations, Global Treasury, ICG Product teams, etc.
The Correspondent Bank Risk Analyst (“CBRA”) roles will form a sub group within the Regulatory team, which is part of ICG Bank Network Management (“BNM”). This position together with the Correspondent Bank Risk Officer (“CBRO”) roles, are newly appointed in a direct response to Citi’s Third Party Risk Management program. The CBRO is responsible for the ongoing oversight of Third Party Correspondent, Custody and Clearing (“CCC”) banks which carry the highest degree of risk for Citi’s businesses. The CBRA will support the CBRO’s in this critical function.
Into our team we are looking for a
Correspondent Bank Risk Analyst - Bank Network Management
The Correspondent Bank Risk Analyst will support the CBRO in all aspects of the oversight and risk program for Citi’s Third Party Correspondent, Custody and Clearing (“CCC”) Banks, performing coordination and control activities to ensure adherence to the Third Party Management framework.
The main tasks in connection with the program are:
creation and maintenance of the review tracker
collating and producing weekly MI charting progress
provide CBRO with support to coordinate the sending of the due diligence questionnaires (“DDQ”),
evaluation and first level checking of DDQ’s received from CCC banks, including review and reconciliation of attachments and the saving/downloading of documents provided via links
perform follow-ups with CCC banks
highlighting potential risk issues and updating of the ‘Gap Dispositioning’ tracker
ensuring an audit proof process management and document handling
the candidate will be cross-trained to cover regulatory tasks performed by the team in connection to the client protection DDQ process
provide back-up support to the Regulatory Associate team when necessary
The Regulatory Associate team are responsible for the ongoing monitoring of the Banks/ Sub-Custodians appointed for the purpose of holding client assets (securities & cash), performing co-ordination and control activities to ensure compliance with, but not limited to, the FCA CASS 6 and 7, AIFMD, MAS, SEC, OCC and CFTC regulations.
Close coordination with many areas of the Firm is required (TTS, Client Asset Oversight Office, Compliance, Regulatory and Control, Operations, Treasury Operations, Legal, Prime Finance, Futures, Clearing and Collateral) and the candidate will have experience of external contact with Banks, Auditors, and Regulators.
Bachelor Degree plus 2-3 years of experience in the international securities industry (in Regulatory/Control, Network Management, Securities/Custody Operations, Custody/Clearance Sales or Relationship Management / Documentation).
Fluent English language
Experience with managing relationships and documentation
Exposure to risk management practices and an understanding of CCC bank keys risks,
Clear understanding of the cash management/ foreign exchange, markets products; Prime Finance, Equities, Bonds and derivatives (including futures) is an advantage.
General understanding of the Bank Network Management function.
Good analytical and communication skills
Time management, planning and organizational expertise proven track record of project management achievements & a demonstrated attention to detail.
What we offer:
An opportunity to work across the ICG organisation at every level, getting a detailed view of the Bank’s Operations, Businesses, Products and Services.
Developing an in-depth awareness of the CCC Bank environment
Gaining Experience in the whole range for Network Management services: Broker Dealer, Global Custody, Cash and Foreign Exchange.
Being part of a dynamic, Global Team in a constantly developing environment
Apply now to be part of this dynamic team.