South Africa Country Treasurer Balance Sheet Management - Director at Citi

Responsibilities:

• The Country Treasurer is responsible for:

• Prudent management of the Balance Sheet of each Legal Entity and disciplined practices in managing treasury risk exposures
• Managing the capital, funding and liquidity of all the legal vehicles within their jurisdiction across all lines of business
• Provide advisory service on treasury strategy and support Country-specific Assets and Liability governance committee discussions - ALCO or local Country Coordinating Committee (CCC)
• Devise treasury strategies with Markets Treasury, Market Risk and business segments. Providing product, customer and geographic businesses with risk identification, risk management, product development and funding strategy through appropriate transfer pricing of both interest and liquidity risks, as approved by the Country ALCO and the Regional Treasurer
• Monitoring of resultant liquidity, interest rate and currency risks, adhering to buffers, limits, triggers and reporting integrity, of local and global minimum requirements.
• Evaluation of activities with all businesses to ensure regulatory and local rating agency requirements are met with respect to balance sheet, liquidity, interest rate, FX, and capital measurements
• Communication to Country ALCOs and Regional Treasurer of accurate and timely information about material balance sheet exposure, changes, and issues.
• The following outlines the behaviours and tasks associated with each Area of Responsibilities Country Treasurers are responsible for:

Business Engagement and Local Governance committees / ALCOs:

• Conduct an effective Assets and Liabilities governance committee (i.e ALCO or CCC) in coordination with the CCO, ensuring the primary responsibilities of Country Assets and Liabilities governance are covered and governance best practices are adhered to as laid out in policy. Work collaboratively with the CCO and country businesses and Cluster Treasurer (where applicable) to drive an efficient and prudential balance sheet, oversee and influence liquidity levels and structures, oversee and ensure transparent execution of transfer pricing for the businesses in accordance with policies and plans, drive returns for the country. Country Treasurer engagement in Balance Sheet planning and budgeting, to ensure appropriate allocation between assets/liabilities products and forward-looking balance sheets are implemented in line with expectation.

Liquidity:

• Manage the liquidity profile of the entities in your country including prudent management of intraday liquidity and daily liquidity metrics / short term cash flow forecasts, to meet minimum regulatory and internal liquidity requirements as required by Citi’s internal policies and ensure escalation triggers are in place to provide early warning of funding pressures. Ensure proper escalation of any triggers and breaches in compliance with the requirements of Citi’s internal policies.Provide Treasury attestation for all required global and local liquidity reports. Prepare comprehensive Funding and Liquidity Plans, including Contingency Plans, and monitor balance sheet activity against these plans. Prepare ILAAP where applicable. Collaborate with Global Liquidity Management team, Finance and businesses to facilitate global data improvement initiatives to ensure the integrity of reporting of all internal and external metrics

FTP / LTP:

• Oversee net interest margin and transfer pricing processes, establishment of single benchmark yield curves, Liquidity Premium, interest rate risk management of the banking books. Drive the consensus and sound decisions on country Funds Transfer Pricing (ITP/FTP) and Liquidity Transfer Pricing (LTP) to appropriately reflect business profitability based on true interest rates and liquidity costs of the franchise, and to transfer hedgeable market interest rate risk for centralized management by Markets Treasury. This is achieved through a standardized, transparent framework in compliance with internal polices and guidelines, with robust oversight and governance measures in place.

Capital:

• Ensure all legal entities in your country adhere to the minimum local capital requirements relevant for the entity based on its ICAAP, regulatory requirements, or approved risk appetite where applicable. Make certain that local entity dividends equate to remittable earnings for the current / prior year unless explicitly granted forbearance through the annual Capital Plan process and/or Legal Entity Capital Request (LECR). Assess the appropriate capital levels and additional repatriation / capital restructuring opportunities in country. Comply with all internal policies, standards and guidelines including but not limited to the Legal Entity Capital Standard and ICAAP Standard

Interest Rate Risk:

• Monitor interest rate risk related to accrual businesses and support efficient management of IRR in your country. Collaborate with Finance and the businesses to facilitate global data improvement initiatives and to ensure the integrity of reporting of Net Interest Revenue as computed in the Ruby platform.

Stress Testing:

• Support the continuum of stress testing for the balance sheet, including liquidity, capital and interest rate risk metrics under various scenarios as required for CCAR, Recovery and Resolution.

Regulatory and Control:

• Maintain a strong, proactive, and responsive relationship with global and local regulators, Internal Audit and Compliance. Maintain a comprehensive Country Treasurer MCA, which supports controls, governance and documentation requisite with the highest expectations of our regulators and internal policies.

Development Value:

• This role will require strong and thoughtful leadership skills to lead the Country Treasury function. It will present an opportunity to drive ALCO and Balance Sheet decision. This role will provide the successful candidate with:
• Substantial interaction with with senior management, including at the local CCO, businesses and potentially Board engagement, as well as Cluster and Regional Management,
• The opportunity to lead and present at forums including Country Alco, Board committees and regulatory engagements
• The ability to make a significant contribution to ensuring the firm meets its financial target through efficient use of balance sheet
• The opportunity to understand the regulatory requirement impacting Treasury both locally and globally
• The ability to be an influential decision maker on the utilization and planning of resources to support the Citi franchise
• Exposure to a broad range of business areas and products
• The opportunity to lead a broad and diverse team both locally and remotely

Qualifications:

• University degree in Finance, Business, Economic or Accounting or postgraduate degree in similar disciplines.
• Experience with understanding and preparing analytics for a senior audience.
• Ability to engage and address local regulator asks
• Prior Treasury functional experience required.

Knowledge/Experience:

• Prior Treasury function experience essential. A broad distribution of prior Treasury experiences is preferred.
• Understanding of legal entity structure, systems, and businesses.
• Experience operating at a senior level with a deep and robust history of meaningful engagements with senior leaders, regulators, and rating agencies.
• Expertise in local regulation regarding liquidity and capital is required
• Knowledge of capital markets is desirable.
• Experience in benchmark submissions or an execution role in interest rates is desirable.
• English language at proficient level both written and oral