Director, Controllers Reconciliation Functional Lead (Markets) - Hybrid

About Citi

Citi is globally located in more than 180 countries and jurisdictions and territories, collectively representing an unparalleled international network of financial skills and capabilities serving targeted clients. Our clients are top corporations, financial institutions and governments in countries and jurisdictions around the world.

Citi responds to clients' changing needs through its long-established relationship coverage approach that provides client solutions utilizing all of Citi's relevant capabilities, including the broadest possible access to financial markets globally. No other institution can match our combination of global insights, client relationship management services, geographic reach, and local and cross-border product expertise.

Shape your Career with Citi

We’re currently looking for a high caliber professional to join our team as Director, Controllers Reconciliation Functional Lead - Markets - Hybrid (Internal Job Title: Finance Reporting Senior. Group Manager - C15 ) based in Mumbai, India.  Being part of our team means that we’ll provide you with the resources to meet your unique needs, empower you to make healthy decision and manage your financial well-being to help plan for your future.  For instance:

• Citi provides programs and services for your physical and mental well-being including access to telehealth options, health advocates, confidential counseling and more. Coverage varies by country.

• We empower our employees to manage their financial well-being and help them plan for the future.

• Citi provides access to an array of learning and development resources to help broaden and deepen your skills and knowledge as your career progresses.

POSITION SUMMARY

Controllers Reconciliation Functional Lead: Markets is responsible for leading key business processes related to the US GAAP Financial reconciliation of Balance Sheet Accounts for Markets Segment. The role demands a thorough understanding of markets / derivative products, Specialized product accounting, US GAAP and operational processes and engaging with most senior segment controllers and operations leads.  This is senior leadership role within Controllers function with a team size of 70+ reconcilers across the globe.  The Lead will work closely with the Balance Sheet Governance Group, Account Owners group, SOX team, senior Controllers of the segment, product operations management teams. The Lead plays a pivotal role for a smooth cooperation between the functional reconciliation groups and account owners in driving full compliance of the Balance Sheet Reconciliation and Substantiation Policy.  

In this role, you’re expected to:

• Run the oversight, Risk and Control framework for the reconciliation function for markets business segment in accordance with Balance Sheet Reconciliation & Substantiation Policy, Procedure and Minimum Standards.  This needs deep understanding of the market products, transactions flows and accounting under US GAAP
• Keep close traction with Controllers Finance Books and Records processes and product operational functions & reconciliation handoffs, Line of business controls
• Continuously review departmental processes and procedures for automation in order to maintain efficiency and accuracy of reporting. Ensure processes are properly documented and are SOX complaint.
• Play a key role in driving and support implementation of strategic ledger. Formulate strategy and execute UAT for the reconciliation function.
• Ensure all strategic priorities of the Controllers Systems and Data Operations and Reconciliation function are given senior level focus.    
• Point of escalation for Market Controllers, Balance Sheet Governance (BSG), SOX Controllers and Operations Leadership. Escalate and facilitate remediation of material reconciliation exceptions in coordination with Account Owners.
• Serve as subject matter expert (SME) on business/ accounting/financial reporting issues related to Reconciliation and substantiation matters, understanding data handoffs and facilitate identification of data breaks and data quality issues impacting reconciliation. 
• SME who owns and drives automation and Straight through Processing
• SPOC for coordination of all Internal and External Audits, Regulatory interfacing related to the CSDO Balance Sheet Reconciliation function.  
• Understand the interrelated dynamics of the CSDO Reconciliation Function with the overall detective control framework of the Bank, Second and third lines of defense.  
• Drive timely, complete and accurate attestation of all owned GL account keys in compliance with BSR&S Policy, reduce red account balances and any risk exposure
• Partner with BSG in driving monthly Account Review Forum (ARF) with Account Owners Groups and senior controllers and ensure all significant reconciliation and substantiation exceptions are highlighted and discussed for remediation.
• Partner with Controller Transformation group to improve efficiency, effectiveness, productivity, and/or control.
• Engage with other senior leadership in CSC Mumbai and across controllers Group and drive location level strategic priorities of the organization.

TALENT DEVELOPMENT

• Lead, develop and manage the talent
• Build these capabilities by recruiting and training appropriate junior and senior level staff, build sustainable training programs, help drive implementation of globally standard process improvements and automation tools   
• Acquire, develop and retain talent that has end-to-end process knowledge, business and product knowledge and analytical skills to drive process excellence
• Further develop a diverse talent pool that can meet the demands of a growing company
• Drive best in class knowledge management practices

ENHANCING CONTROLS

• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards
• Active participation and lead in global Internal Audits as well as KPMG audit engagements
• Establish and maintain appropriate documentation/controls to ensure the integrity of financial, regulatory and management information.
• Create effective control environment to ensure adherence with all internal and external policies and procedures.  Direct and coordinate audits and internal reviews. Establish a process to ensure all necessary reporting functions are operating effectively and efficiently
• Drive zero tolerance culture on control breaches
• Drive and coordinate remediation of all high and medium risk EUCs

As a successful candidate, you’d ideally have the following skills and exposure:

• The ideal candidate will be a seasoned leader with extensive years of proven experience related to accounting, financial reporting and/ or product control.
• Demonstrate strong ability to analyze complex set of financial data and provide deeper insight on US GAAP / IFRS preferably in banking / financial services environment. Demonstrated career progression and a strong understanding and application of technical accounting principles and policies
• Sound leadership skills with passion for excellence. Knowledge and practical application of Six Sigma concepts is desirable
• Experience in large, complex banking and financial industry environments a plus
• Demonstrated ability to effectively communicate through all levels of the organization
• Ability to influence peers and business partners to take action necessary to achieve goals
• Extensive experience in working with a variety of financial platforms. Proficiency with MS Project and MS Office Suite
• Financial management competencies
• Demonstrated ability to manage in a complex and dynamic environment
• Leadership and team building and mentoring skills are vital; must have the ability to guide staff through complex and cross border transformation initiatives
• Self-motivated with the ability to make decisions in the absence of detailed instructions
• Ability to drive implementations by motivating and directing multiple project teams
• Ability to foster and develop teams in distributed geographic environments
• Demonstrated ability to manage risks and enhance controls in complex financial accounting processes
• Ability to work across functional areas

Education:

CA/CPA/CMA/MBA or equivalent academics

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