Chief Finance Officer (CFO) - Europe Cluster and Citibank Europe Plc (CEP) - Managing Director
- Citi EMEA
- Dublin, Ireland/ Hybrid
- Not disclosed
- 16 Mar 2023
- 16 Apr 2023
- Approved employers
- Approved employer
- Job role
- Audit, CFO, Financial planning & analysis, Management accountant, Tax, Treasury
- Contract type
- Full time
- Experience level
Chief Finance Officer (CFO) - Europe Cluster and Citibank Europe Plc (CEP) - Managing Director (Hybrid working)
The Chief Finance Officer (CFO) for the Europe Cluster and Citibank Europe Plc (CEP) is a key strategic role within the firm and works closely with the wider finance team within Europe and Europe Middle East and Africa (EMEA). The role is also that of a trusted advisor to the Europe Cluster Head and CEP CEO and key position within the EMEA finance management team.
The Europe Cluster is comprised of the 42 countries within Continental Europe where Citi has a physical presence or manages via the hub-managed country framework The Cluster operates via six main bank and broker-dealer subsidiaries and several branches of CBNA. Europe is experiencing material change post-Brexit with additional product capabilities and assets expected to be moved from the UK into European legal entities in the coming 3-5 years.
The job holder has a high level of strategic business impact and influence. In addition, the individual will have intense interaction with the European Central Bank JST and the Single Resolution Board, and from time to time local regulators and authorities at the European level.
The Europe Cluster and CEP CFO holds responsibilities for all the areas of Finance, including Controllers, Tax, FP&A, Product Control and Corporate Treasury, representing these areas at management and respective Board levels.
The CEP CFO role is a Pre-Approval Control Function (PCF) as designated by the European Central Bank JST with the Central Bank of Ireland. In addition, the role will include acting as an executive director on the CEP board, which is also a PCF role.
Further, additional board responsibilities may be required as needed and may be subject to regulatory approvals.
- Support the Europe Cluster Head, the Europe Leadership Team and the country franchises by providing financial analysis and by contributing to shaping the financial strategy for the Cluster.
- Provide leadership, management and direction to the main legal entity CFOs and finance and treasury teams across Europe including Bank Handlowy, CGME, Swiss Cluster etc.
- Challenge the status quo to identify efficiencies and legal entity optimization opportunities
- Contribute to strategic decision making affecting booking models in Europe including plans formulated as part of Project Taurus
- Advocate in London, New York and elsewhere as required for financial resources, including presenting to major for a like LESC, EMEA ALCO etc.
- Coordinate plans and actions with the Europe Treasurer to ensure efficient and resilient liquidity and capital plans across the Cluster
- Lead and coordinate all regulatory interactions across Europe as they relate to the finance function, especially with the European Central Bank and Joint Supervisory Teams, and the Single Resolution Board
- Drive interaction with external groups including auditors and policy associations as they related to financial and prudential matters (eg at AFME or other groups)
- Ensure alignment of all financial and non-financial regulatory reporting requirements across Europe, including ESG
CFO for CEP
- Provide strategic financial leadership and insights to the CEP CEO, Executive Committee (ExCo) and Board on all financial matters within CEP
- As CEP CFO, ensure the entity operates in compliance with applicable regulatory and statutory requirements
- Support and inform the CEP CEO, CEP Exco, Audit Committee and Board in delivering the company’s financial strategy and commitments by supplying high quality financial information both actuals and forward looking projections, including capital and liquidity planning
- Ensure the accurate and high quality delivery of ICAAP and ILAAP to the CEP Exco, Board and regulators and their refresh during the year as the case may require
- Coordinate CEP’s Recovery and Resolution Plans in accordance with the requirements of the ECB and SRB and in coordination with the Global and EMEA RRP teams. Coordinate and run simulations of Recovery Plans. Ensure the IPU for CEP operates appropriately on a standalone and consolidated basis.
- Maintain strong control processes including for Finance’s own first line risks, monitor and challenge business performance and ensure resource capacity in the department is at the level CEP’s present and future operations require, especially in light of project Taurus
- Work with CEP Exco, Branch Managers and Businesses to drive the financial strategy, monitoring performance and challenging business assumptions
- Act as the key player in the governance of the entity as it relates to financial matters on the CEP Exco and management committees, and the CEP Board and relevant Committees (eg Audit, Risk etc.), and actively interact contributing to the delivery of the strategy and regulatory asks
- Drive actions to achieve efficiency and returns in line with CEP’s and Group’s targets
- Look for opportunities to further streamline and standardize processes on the basis of robust control frameworks
- Support implementation of strategic initiatives and lead roll out of regulatory change programs where Finance is the lead or a major contributor (e.g. CRD/ CRR, stress tests)
- Act as the CEP interface for Regulators on Prudential Regulations, Treasury and RRP aspects
- Oversee and coordinate the Finance teams across all CEP branches
- As an executive director of the CEP Board, the CFO needs to fullfill all board responsibilities and represent the company with external and internal stakeholders (such as ECB and SRB, Rating Agencies, regional and global headquarters)
- The CEP CFO owns collective responsibility with the other CEP Exco members for the stability and sustainability of the entity and its orderly operations, including across the countries
- Work closely with the CEO and Board Committees Chairs to support routine deliverables for the Board, as well as ad hoc requests from Board and Regulators.
- Adapt and contribute Management Information to the Board and Regulators whenever changes in the external environment requires it (e.g. crisis management, change of the risk profile of the entity, etc.)
- Ability to learn from and contribute to the strategy of how the the Europe Cluster and CEP operate now and in the future given material change
- Growth in regulatory and prudential competencies, including the ability to advocate in critical European fora
- Exposure to the European Leadership Team, the EMEA Finance team and as relevant Global Management by attending committees and in decision making fora
- High level of qualified accountant – ACA/ ACCA/CIMA or equivalent with significant post qualification experience.
- University degree or equivalent desirable
- Excellent understanding of local and regional regulations and the liquidity framework
- ECB approval is a condition precedent to assuming the role
- Demonstrated ability to drive a change agenda
- Strategic skills
- Strong interpersonal and communications skills
- Very strong financial control and analytical skills
- Leadership and management ability to build a top class Finance team and develop them significantly. Ability to lead and motivate the overall Finance team by influence.
- Excellent teamwork and project management skills
- Excellent planning and execution skills.
- Highly effective Team player across businesses/management partners
- Extensive in-depth post-qualification experience working for an internationally reputable Finance Department
- Strong knowledge of Banking and Markets Products a plus
- Experience in Regulatory Reporting, Financial Control, Product Control, Corporate Treasury and FP&A is a key driver
- Good understanding of Balance Sheet mechanism and embedded risks
- Good understanding of liquidity framework, risks and transfer pricing
- Experience working with global or regional regulators; ECB a key benefit
- Excellent Regulatory, Fiscal and Accounting skills as well and Budgeting and Planning skills needed.
- Excellent communication skills are required to be able to handle regulator/authority/partners in the markets even on a “stand alone” basis
- Ability to act on short notice and in crisis conditions
- Analytical skills required
- Experience of operating in a highly regulated environment is essential
- Strong leadership experience in multinational firms
This Role is a “Controlled Function” Role as defined by the Central Bank of Ireland Reform Act 2010 and Principal Regulations 2011, and amending Regulations 2014, 2015.
Candidates applying for this role must be aware that it is a Certified Role, subject to the FCA and PRA Certification Regime.
The Certification Regime is one element of the Individual Accountability Regime which came into effect on 7 March 2016.
Under the Certification Regime, Citi UK regulated entities (Citi entities) must ensure that employees working in certain roles categorised as specified significant harm functions (Certified Roles) are assessed as fit and proper to carry out their role.
Under the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:
- Honesty, integrity and reputation
- Financial soundness
- Competence and capability
In order to comply with the requirements of the Certification Regime, Citi entities must take reasonable care to ensure that an employee does not perform a Certified Role without first being certified as Fit and Proper. For this reason, you will be assessed for this role against the Fit and Proper requirements, as described above.
This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, regulated reference checks, credit checks and other background screening checks.
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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