Head of Markets - Kenya at Citi

Job Background/Context

Kenya Markets is a material business within CEEMEA markets and a major contributor to the Net Income of the Kenya franchise. The Markets business comprises of Currencies, Rates, Global Spread Products, Commodities, Equities, Local Markets Treasury. The Global Markets business’ geographic responsibility predominantly covers Kenya.

Job Purpose:

The Head of Markets – Kenya is a key partner to the country leadership in Kenya, creating a country strategy and cross product delivery of the wider franchise. The role is responsible for proposing and supporting our overall Markets client strategy across segments: Corporates, Public Sector, Banking and Non-Banking Financial Institutions, coordinating with the CCO, Banking, Independent Risk, Finance and Operations, while also monitoring and managing the various Markets risk taking activities performed in the country, through the dedicated specialists (Markets Sales, Local Markets traders, and Risk Taking managers). The role requires a strong alignment with hub Product partners for individual asset classes.

The Head of Markets - Kenya is responsible for managing and leading senior level Markets related regulatory relationships in the country, Senior clients relationships, Origination and for maintaining a strong governance, compliance, risk and control environment. The role is also responsible for leading a diverse team who play a key part in creating a strong risk management discipline, client service delivery and culture. A key part of the role will be in driving a revenue growth strategy that reflects the market opportunities in the country. A primary objective over this time horizon for the Head of Markets - Kenya will be to leverage off the strongly established Global Markets franchise, to expand the whole suite of Markets products and solutions to the customer base in the region.

Key Responsibilities:

Leading and Implementing Country Business Strategy:

• Developing a coordinated country strategy across the Global Markets products to ensure optimal client alignment
• Managing senior external interfaces with Markets related Regulators, clients, origination, market data, and industry groups, peers
• Represent the Global Markets franchise throughout Citi
• Drives client value by leading reviews of resource allocation and prioritization for country and cross product business initiatives
• Maximizes organizational execution of key initiatives and business review processes
• Ensure that the bank's balance sheet is well managed in order to meet statutory, regulatory and internal limits and guidelines.
• Ensure that the bank's assets and liabilities are appropriately priced in order to strengthen the overall franchise.
• In collaboration with Corporate Treasury when requested, ensure that the bank's capital is appropriately hedged against adverse foreign exchange rate volatility.
• Ensure that the Markets business is strengthened by liaising with the hub traders, Sales, central bank, target market clients and other market participants.
• Assume responsibility for strengthening the Global Markets business by introducing new products, liaising with other business units, marketing across key corporate relationships, and encourage market risk taking.
• Assume prime responsibility to trade and distribute markets products with the objective of enhancing profitability.
• Responsible for managing key relationships with the regulators, corporate and institutional client names.
• Network within the local and overseas organisation in order to migrate best practises i.e. new product innovations, initiatives, training, processes etc.
• Responsible for ensuring that the Trading systems and processes are refined and upgraded periodically in order to enhance productivity.
• Prepare and execute the Markets cross assets business plan across customer segments.
• Actively support product and customer development.
• Actively contribute to improvements in quality / efficiency of the Markets product delivery in Kenya.
• Ensure assets are employed optimally to generate the budgeted revenues, within approved risk tolerance.
• Ensure efficient and economical incurrence of expenses, and adherence to the Citi Expense Management Policy.
• Ensure 100% compliance with regulatory guidelines and bank policies and pass Audit and Risk Reviews.
• Ensure an effective working / reporting relationship with Product Control, Fin Con, Credit and Market Risk Management.
• Effective involvement in the local ALCO process.

Leading Strong Governance And Controls:

• Creates appropriate governance, controls and compliance including a culture of expense management discipline
• Builds a culture of responsible finance
• Works in close partnership with control functions to ensure appropriate governance and control infrastructure
• Ensures close partnership with Compliance to lead productive interaction and dialogue with key regulators
• Ensures partnership with Finance to deliver the annual financial planning / budgeting process
• Leads across products to facilitate optimal resource allocation decision making by product and client segments

Human Capital Management:

• Leads the Kenya Markets People Strategy including talent reviews for critical roles
• Partners with HR and regional product heads to ensure the people strategy and organizational capabilities are aligned to business strategy
• Ensures cross-product oversight and governance of headcount, hiring and workforce planning
• Provides direction and oversight of talent processes that underpin our meritocratic and high performance culture, including; compensation, promotion, junior talent pipeline (MAs, Analysts & Associates), internal mobility, talent reviews and succession planning
• Ensure that the team remains focused and motivated through an optimal mix of financial and career progression initiatives.

Knowledge/Experience:

• In depth experience of Citi’s Global Markets products, clients and risk management
• Successful leadership of a diverse and multi-product business
• Successful track record of leading and creating momentum and a collective agenda across multiple products
• Good knowledge of the industry and country and with the ability to anticipate and lead the organizational response to future changes
• Good technical knowledge of Citi Markets’ product suite including FX, FXO, Rates, Interest and FX Derivatives, Spread Products, Credit and Commodities
• Strategic thinker with ability to translate vision into executable plans
• Leadership skills and intellectual capability to bring together a broad range of Global Markets Credibility and gravitas to lead, motivate and influence a diverse population across products and matrix reporting lines
• Interpretive and problem solving skills; pragmatic approach to ensure limited resources are directed appropriately Good interpersonal and communication skills with ability to influence and create alignment at senior levels across multiple products, clients, and competing priorities.

Qualifications:

• Minimum Bachelor’s Degree, preferably in Economics, Accounting, or Sciences. Candidates with MBA, CFA and similar further degrees will be accorded due preference.
• Four years direct Global Markets trading or sales experience

Leadership:

• Management / Supervisory
• Strategic Planning
• Team Player
• Creativity, initiative and flexibility
• Cross Team Management

Management or Execution skills:

• Analytical thinking and ability to priorities
• Responsible for allocation of resources, production of forecasts, budgets and training and development of staff
• Ability to handle pressure
• Attention to detail
• Ability to back up the FX / MM Trade and the CSDM Head
• Responsible for full range of trading activities including FX, money markets, corporate services and off balance sheet products

Technical and Professional Competence:

• Strong numerical and computing skills
• Good selling skills
• Thorough knowledge of treasury (and full range of bank) products
• Thorough knowledge of the end-to-end process for treasury products
• Ability to work long hours under stress
• Sound knowledge of derivative products and structures.
• Good knowledge of Kenyan Macro-Economic and financial markets
• Thorough understanding of the drivers of the global economy and their impact on the local markets.
• Strong Compliance orientation.

Relationships:

• Strong interpersonal, leadership and communication (both oral and written) skills
• Good presentation skills
• Demonstrated Support for Coverage & Customer Service Units.
• Negotiation
• Management of diversity.