Job description
Role Overview
Head of Custody at Citi, based in Kuwait. This role leads the development of Securities Services business locally while representing Citi to market authorities and regulators, ensuring robust business delivery and high-quality service to drive growth and profitability.
Company Overview
Citi's Custody division provides financial institutions worldwide with global network access enabling them to grow, reduce costs, and mitigate risk. The business leverages strength in capital markets to create value across the entire investment value chain, offering market-leading breadth, depth, and scope of solutions complemented by geographic reach.
Role Purpose
Lead the Securities Services business in Kuwait by developing and executing clear local business strategy aligned with regional objectives. Build business growth and increased profitability while maintaining robust risk management, representing Citi to regulators and market infrastructure, and ensuring elite service levels and client satisfaction.
Key Responsibilities
Strategy & Business Development
- Create and execute clear business strategy for the local business in the context of regional business strategy.
- Support business growth objectives, market share expansion, and revenue targets whilst retaining appropriate risk management discipline.
- Prospect new business mandates and envisage new product offerings.
- Pitch for new business prospects and sales opportunities.
Financial Management
- Maintain close control over P&L and expenses.
Service Delivery & Operations
- Own end-to-end delivery and leadership for custodial services including Operations.
- Ensure delivery of robust service levels and high client satisfaction through execution of service excellence programs.
- Explore opportunities for added services, efficiency improvements, and controls.
- Oversee business as usual (BAU) and act as first escalation point.
Stakeholder & Regulatory Management
- Interface and represent Citi franchise with market regulators and industry forums.
- Build and maintain constructive relationships with internal stakeholders including operations, corporate banking, treasury, compliance, and legal.
- Remain close to market infrastructure (Boursa Kuwait, KCC) and promote initiatives to develop the market and attract foreign investment into Kuwait.
- Lead advocacy efforts with market regulators and ensure visibility of thought leadership.
- Monitor regulatory changes and their impact on the local franchise.
Risk Management & Compliance
- Act as first line of defence by monitoring and controlling business risk.
- Handhold internal and external audits and own action points and corrective action plans (CAPs).
Oversight
- Have oversight into product manager responsibilities.
Qualifications & Experience
- At least 8 years' experience in Custody Services.
- Detailed understanding of Direct Custody, Clearing, and Investor Services in Kuwait.
- Experience of dealing with local market infrastructure and regulators.
- Experience of working across multiple products and geographies.
- University degree.
Skills & Competencies
- Arabic speaking.
Additional Information
- Full-time position.
- Job Family Group: Product Management and Development.
- Job Family: Product Management.
- Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.