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Citi Markets Senior Business Unit Manager Global Spread Products Hong Kong
Location: APAC-HKG-Hong Kong-Hong Kong
- Citi’s Global Spread Products Business is part of the greater Global Markets and Securities Services division of Citi’s Institutional Clients Group. The Spread Products business is a global business with a presence in eleven countries across North and Latin America, Europe, Asia and Japan primarily focusing on corporate, municipal, and mortgage backed bonds, loans and credit default swaps as well as structured products and financings. Global Spread Products has three major business lines; Global Credit Markets (GCM), Global Securitized Markets (GSM) and Municipal Securities. Global Credit Markets is responsible for secondary market trading in all Credit products.
- Spread Products is a comprehensive sales/trading/structuring business, which transacts Asian spread products with global clients, and global spread products with Asian clients. The business will have locations where we transact local products with local clients, but the raison d’etre of the franchise is import/export.
- The business has trading desks in Singapore, Mumbai, HK, Tokyo and Sydney.
- In addition to the above trading locations, the business has dedicated sales people in Korea and Taiwan.
The business trades the following asset classes:
- Investment grade, High Yield, Distressed bonds
- Credit derivatives
- Structured credit products.
The business originates loans in follow asset classes, to distribute and keep some on the books:
- Commercial Real Estate – In Australia, HK, Singapore
- Residential Mortgage – In Australia
- Non-performing Real Estate Loans – China, Thailand
The Asia credit business is ranked as a top 3 business in terms of revenues and client relevance.
- The GSM business has traded US mortgage securities with Asia clients since the late 1980s, with a sales/trader in Tokyo. We have started to build a complete Asia GSM business in 2018, and expect to have proof of concept by Q1 2019.
- We are aiming to build out the distribution of US municipal products into Asian clients, as a first step. We aim to look at the China municipal market to see if we can create an origination, trading and distribution business, with the aim to provide non-Chinese clients with access to Chinese municipal credits.
Candidate will be responsible for following:
- Work with control functions to ensure that the business is in compliance with all local regulations and firm policies.
- Work with business and control functions in APAC/EMEA/NAM, to help business complete NPACs, to create new products.
- To be a breaker and not a creator of bottlenecks; to have breaking bottlenecks as a top priority on a daily basis, and to do it with own hands and not push off on the Business or elsewhere.
- To manage highly complex processes that are stemming from multiple firm policies (be it legal, risk, or regulatory related) that involve many individuals of different backgrounds, motivations, and attachment points to the Business; and to manage them to an expeditious end that accomplishes the goals of the Business (in other words, NPAC).
- Work with Business Heads to prepare business presentations to internal and external audiences.
- Work with other Business Unit Managers and Regulatory Reform team, to help the Business adapt to new regulations. Trade analysis and knowledge of the trade flows and technology systems is central to this function.
- Escalate and report any risk issues, including conduct risk issues
- Identify potential control weaknesses and work with relevant stakeholder groups to deliver suitable solutions, including technology enhancements.
- Ensure the accuracy and completeness of key business data (volumes, EV, revenue, expenses, capital, etc).
- Identify sensible cost savings for the business.
- Partner with other Business Unit Managers across APAC to share experiences and solutions to common problems & business development challenges.
- Represent the business during internal audits and regulatory reviews
- Bachelor’s Degree, Advanced Degree a plus
- An ideal candidate has 5+ years’ experience in Middle Office, Product Control, Risk, Controls, Compliance, Finance or Strategy, an interest in and prior exposure to capital markets, and familiarity with financial institution regulation and policies.
- Experience within Citigroup in similar situations would be a plus.
- Fixed Income product knowledge is essential, as is a keen interest in learning about the evolving regulatory and control environment
- Front to back knowledge of Credit derivative trade process flows and related systems
- Connect with colleagues across the globe, and exchange ideas, and stay abreast of developments in multiple markets.
- Multi-task and thrive in a time-constrained, trading floor environment.
- Positive, motivated, proactive self-starter.
- Mandarin language beneficial, but not required.
- Strong Powerpoint, Excel skills
|Career Level||Intermediate (3-6 years)|
|Language||English, Cantonese, Mandarin (Putonghua), Latin|