Head of Custody

About the Position

Discover your future at Citi

Working at Citi is far more than just a job. A career with us means joining a team of approximately 219,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.

Citi's Custody provides financial institutions worldwide with unparalleled access to a global Citi network that enables them to grow, reduce costs, and mitigate risk. We leverage our strength in capital markets to create value for clients across the entire investment value chain. Our market-leading breadth, depth, and scope of solutions, complemented by our geographic reach, allow us to offer an unparalleled portfolio of products and services that drive our clients' bottom-line performance.

The Head of Custody will be responsible for leading the development of the Securities Services business in Kuwait and representing Citi internally and externally with authorities and market regulators while ensuring a robust business model and elite, high-quality service level is timely provided to clients to achieve business growth and increased profitability in line with strategic objectives. Prospecting new business mandates and new product offerings.

Responsibilities

• Responsible for creating and executing a clear business strategy for the local business in the context of the regional business strategy.
• Support business growth objectives, market share, and achieving revenue targets while retaining appropriate risk management discipline.
• Maintain close control over P&L and control over expenses.
• Pitch for new business prospects, sales opportunities, and envisage new product offerings.
• End-to-end ownership and leadership for the delivery of custodial services including Operations.
• Interface and represent Citi franchise with market regulators and industry forums.
• Build and maintain constructive relationships with internal stakeholders inside the franchise including but not limited to operations, corporate banking, treasury, compliance, and legal.
• Ensure delivery of robust service level and high-level clients’ satisfaction through execution of service excellence programs. Also, exploring room for added services and efficiency / controls.
• Remain close to market infrastructure (i.e. Boursa Kuwait, KCC) and promote initiatives to help develop the market and promote more foreign investments into Kuwait.
• Act as the first line of defense by monitoring, controlling business risk. Furthermore, handhold internal and external audits, and ownership of action points and CAPs.
• Overseeing BAU and act as the first escalation point.
• Monitor regulatory changes and their impact on the local franchise.
• Lead advocacy efforts with market regulators and ensure visibility of thought leadership.
• Have an oversight into product manager responsibilities.

Requirements

• +8 years’ experience in Custody Services.
• Detailed understanding of the Direct Custody and Clearing and Investor services in Kuwait.
• Experience of dealing with local market infrastructure and regulators.
• Experience of working across multiple products/geographies.
• Arabic speaking.
• University degree.

We Offer

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About the Company

Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

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