CEP Head of Treasury

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CEP Head of Treasury-19036453

Job Purpose:
This role is responsible for the prudential management of Citibank European PLC (CEP) legal entity on a consolidated basis. This role, located in Dublin, is fully responsible for all “Consolidated CEP” Treasury related, balance sheet, liquidity, capital, diversified funding alternatives, transfer pricing, interest rate risk related requirements.


In performing this 1st of defence function, the Treasurer must ensure that the CEP under his or her purview adheres to local regulatory liquidity requirements and global internal Citi liquidity policy requirements.


This is a “director level”, “Treasury leadership” role to drive all Treasury related items (especially post BrExit with the addition of more complex markets businesses potentially doubling CEP’s current balance sheet and including systematically important Euroclearing operations where CEP will fully become Citi’s only Euroclearing bank by December 2018) with self-initiative and in a seamless coordination with regulators and internal businesses, CEP’s leadership committees (CEP Executive Committee, CEP ALCO, CEP Board Risk Committee as well as CEP Board), regional/global Corporate Treasury functions, market risk management (2nd line of defence) and internal audit teams (3rd line of defence) in an influential way to drive CEP Treasury’s agenda in a timely and most appropriate manner.


Additionally, the CEP Treasurer will be responsible for regulatory relationships for CEP within its remit, and will serve as the Treasury representative for CEP’s Boards of Directors.


Functionally as Treasurer, the successful candidate will be responsible for managing a team whose function it is to develop, implement and maintain robust balance sheet controls to ensure solvency and efficient usage of balance sheet resources.


Job Background/context:



Citi Treasury manages the balance sheet by currency with full focus on funding and liquidity, capital, and interest rate risk by providing Corporate Treasury oversight as well as providing support and direction for balance sheet products (such as TTS, Markets Business, FX exposure) , their pricing based on risk identification and product innovation in accordance with Citigroup’s funding strategy.


This role ensures the effective management of balance sheet resources in CEP on a consolidated basis. Additionally, the role is accountable for ensuring that Citi’s CEP franchise has robust liquidity and capital management practices, consistent with local regulatory requirements, and internal global policy.


The position sits within the EMEA Corporate Treasury and is based in Dublin / Ireland.


The role requires a substantial amount of senior stakeholder and regulator management and is also a key senior leadership position within the Global Treasury and EMEA Finance function.



Key Responsibilities:


  • Interaction and key regulatory liaison with Central Bank of Ireland for all CEP balance sheet, funding and liquidity (in regards to both external and internal liquidity metrics) and capital matters covering all branches of CEP.
  • Seamless and influential  interaction with Regional / Global Corporate Treasury Teams, local capital, Legal, Tax Teams, CEP Businesses as well as Senior Management including CEP’s Management Committees and Board of Directors to provide Treasury expertise, guidance, recommendations and leadership for all balance sheet, funding and liquidity, interest rate risk management, FX risk, hedging (funds transfer pricing [FTP] and liquidity transfer pricing [LTP]), cash management and intra-day liquidity management / overseeing the collateral levels for Euro Clearing as well as capital, new product developments, and other Treasury emerging risks (e.g., solvency)
  • Run the CEP ALCO chaired by CEP CEO for the CEP Consolidated entity and participate CEP Branches ALCO. Support escalation to EU Treasurer as well as EMEA ALCO appropriately and in a timely manner.
  • CEP Treasurer will report directly to the EU Treasurer and will have a matrix reporting line to the CEP CFO. This role will have all branch treasurers matrix reporting into her/him. In this context, in addition to the 3 people Corporate Treasury team in Dublin, there will be additional 7 people (2 MDs, 1 Director, 1 SVP, and 3 VPs) matrix reporting to this role for their CEP branch responsibilities. CEP Treasurer will set branch treasurers annual objectives and provide mid-year and year-end appraisal in evaluating branch treasurer’s performance we well as serving as a main escalation point for the branch treasurer.


  • Treasury Management
         – Manage funding, capital, and liquidity (including intraday liquidity) for CEP, representing over $60bn in assets (especially post BrExit with the addition of more complex markets businesses potentially doubling CEP’s current balance sheet and including systematically important Euroclearing operations where CEP will fully become Citi’s only Euroclearing bank by December 2018)
         – Run the CEP ALCO, supporting the CEP Board of Directors and all businesses operating on the CEP balance sheet.
         – Lead the Treasury aspects of Recovery and Resolution planning regionally
         – Ensure the optimization of current and future balance sheet usage across businesses, while maintaining prudent structural liquidity, appropriate market risk positions and an adequate quality and quantity of capital
         – Maintain strong control environment and compliance with both regulatory requirements and internal through daily monitoring of liquidity, as well as the development and implementation of funds transfer pricing  policies
         – Act as Citi’s primary liaison with the Central Bank of Ireland  on balance sheet, funding and liquidity matters
         – Own CEP’s ILAAP process and Liquidity Regulatory reviews (e.g., SREP), CEP’s Funding Liquidity and Contingency funding Plans
         – Serve as member of
                o CEP Market Risk Sub-Committee
                o CEP Credit Committee
                o CEP Product Review Committee (PRC) and CEP New Product Approval Committee (NPAC)
                o CEP Related Party Lending Committee
                o CEP Operating Committee (“OpCo”)?
         – Active participation in EMEA ALCO in representing CEP

  • Regulatory and Franchise Expertise
         – Ensure that CEP meets all regulatory and franchise requirements as outlined in CEP’s ILAAP and ICAAP and in conjunction with CEP’s ALCO
         – Serve as a 1st Line of Defence for all Balance Sheet and Liquidity issues as well as Interest Rate Risk and Hedging  (FTP and LTP)
         – Evaluate regulatory developments and work with businesses to work on strategies to address issues or opportunities to make balance sheet and capital available to serve our clients in a timely and cost effective manner 
         – Maintain, control and ensure adherence to CEP’s Treasury and Risk Policies and Directives (e.g., ALCO, Transfer Pricing, Liquidity Risk Management policies)

  • Liquidity Management and Oversight
         – Full control of CEP’s HQLA and Liquidity sources and uses including on and off balance sheet items to meets CEP’s regulatory liquidity requirements (e.g., CRD4 LCR Delegated Act, NSFR, MREL, Asset Encumbrance, ALMM, etc.)  as well as CEP’s internal liquidity metrics RLAP and S2 and in conjunction with CEP ALCO
         – Full control over CEP’s Funding Liquidity Plan (FLP) and Contingency Funding Plan (CFP)
         – Work actively with the businesses, especially during Plan, MYC and CCAR cycles, to determine the amount of liquidity and capital to determine and provide the financing need of the businesses appropriately (in turn fully support the success of the board approved strategic plan) and at the same time keeping CEP’s ILAAP as a live document throughout the year and be always ILAAP ready ahead of the annual ILAAP cycle.
         – 1st Line of defence and full control for CEP’s HQLA and liquidity sheet sources and uses in partnering with G10 Treasury and Local Markets Treasury for the execution of treasury transactions as outlines in CEP’s ILAAP.

  • Interest Rate Risk and Transfer Pricing
         – CEP’s FTP framework is defined by Citi's FTP standard for both accrual and trading businesses. The standard covers both interest rate transfer pricing (TP) and liquidity transfer pricing (LTP). In this context the CEP Treasurer is the 1st Line of defence for Interest Rate and FX Rate risks and works closely working with 2nd line of defence of Independent Market Risk Management
         – CEP Treasurer ensures adherence to transfer pricing policies through approved single yield curves to appropriately hedge businesses to Market Treasury while at the same time having full control over execution and sustainability of hedge process
         – In conjunction with Independent Market Risk and ALCO, ensure that CEP adheres to local regulatory and ALCO level limits, triggers and indicators

  • Team Management
         – Directly manage staff of 3 in Dublin. There will be additional 7 people (2 MDs, 1 Director, 1 SVP, and 3 VPs) matrix reporting to this role for their CEP branch responsibilities. CEP Treasurer will set branch treasurers annual objectives and provide mid-year and year-end appraisal in evaluating branch treasurer’s performance we well as serving as a main escalation point for the branch treasurer.

Development Value:

This role will require strong and thoughtful leadership skills to lead and represent CEP Corporate Treasury Function in CEP’s various management meetings including CEP’s board and as such will present an opportunity to further develop / enhance leadership, influencing, active and effective communication skills as well as abilities to forward looking thinking and anticipating local and global regulatory changes to lead ahead CEP’s Corporate Treasury function working very closely with CEP’s businesses (CEP is Citi’s EU Passported Bank). Individual will gain and further develop complete understanding of CEP’s balance sheet (and it products) , funding and liquidity, intra-day liquidity management, capital, fund transfer pricing, interest rate risk management, FX risk, liquidity transfer pricing, development of new products

  • The opportunity to lead and present at forums including regulatory engagements, ALCOs, and Management and Board Committees
  • Making a significant contribution to ensuring the firm meets its financial targets through efficient use of the balance sheet and capital
  • Understanding of the Regulatory Requirements impacting Treasury both locally and globally
  • Being an influential decision maker on the utilization and planning of resources to support the CEP Balance Sheet ad 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

  • University degree in Finance, Economics, or Accounting. Post graduate degree in a similar discipline preferred.
  • English language at proficient level both written and oral. Given the pan European structure of CEP’s branch network, other languages (e.g., Spanish, German, French, and Italian) are a plus.
  • Prior legal entity treasurer experience required.
  • Experience with understanding and preparing analytics for a senior audience.





  • Significant Treasury experience including substantial interaction with Central bank if Ireland, ECB, CEP’s Senior Management, including CEP Management Committees, CEP CEO, CEP CRO, CEP CFO and CEP Board of directors
  • Full and Strong understanding and prior experience of Euro clearing and clearing collateral requirements and management
  • Prior Treasury and/or Finance function experience required. A broad distribution of prior Treasury experiences is preferred.
  • Strong understanding of financial analytics and treasury accounting
  • Understanding of Citi 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.
  • Knowledge of capital markets, transaction services and securities is desirable.




  • Strong and proven analytical skills.
  • Excellent oral and written communication skills.
  • Ability to handle tight deadlines and multi-task; ability to work under pressure and to prioritise and guide the team on a diverse set of objectives
  • Control focused with the ability and desire to see the “bigger picture”, prioritise, put things into perspective and have the ability to draw conclusions and make decisions based on complex issues.
  • Must be able to understand complex financial concepts and distil into clear, concise and simplified concepts.



  • Demonstrated Leadership, Influencing  and effective and timely communication qualities
  • Comfortable communicating across teams and geographies, taking into account cultural sensitivities and different working practices
  • Ambitious and willing to learn; able to quickly assimilate new information and having a forward looking mind.
  • Diplomatic; able to manage situations where conflicts of interest may arise.
  • Able to act as a partner to the businesses.
  • Ability to take decisions and/or escalate where appropriate, to deliver results and meet objectives in a defined timeframe
  • Credibility as a subject matter expert and experience of dealing with issues that have a high impact at all levels of the organization;
  • Experience of working with key country level regulators and industry associations;
  • Knowledge of local regulatory requirements and obligations and the ability to identify emerging issues and themes;
  • An ability to influence senior business leaders on all related matters affecting the business.  The individual should have the ability to independently challenge, when needed, while at the same time being supportive and solution-based and not being perceived as obstructive;
  • Ability to navigate and negotiate through conflicting demands to maintain focus on priority objectives while ensuring key stakeholders’ needs are met;
  • Strong team leadership, communication, interpersonal and management skills, with a track record of leading through change and the ability to effectively communicate the strategic vision to various stakeholder groups;
  • Bring a sense of strategic vision and a global sensibility to the function
  • Effective negotiation skills, a proactive and “no surprises” approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management and influencing skills are essential;
  • The ability to thrive and execute in a complex, highly matrixed, global environment;



The role is a ‘Controlled function’ CF as defined by the Central Bank Reform Act 2010 Regulations 2011.



Candidates applying for this role must be aware that it is a Certified Role, subject to the Certification Regime. The Certification Regime is one element of the Individual Accountability Regime which has come into effect on 7 March 2016. Under the Certification Regime, certain 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, certain 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, reference checks, credit checks and other background checks. If hired for this role, you will also be required to complete an annual declaration regarding your Fitness and Propriety.


By submitting your application, you acknowledge that you have read the information above and that you are applying for a Certified Role. You also agree to Citi carrying out any additional screening required, including permitted criminal record checks, reference checks, credit checks and any other background checks.


Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.

Citi is an Equal Opportunities Employer


8 September 2019
Location: Ireland Dublin
Work type:
Full time
Banking and Financial Services
Finance / Accounting
PLEASE! No enquiries from Recruitment Agencies or Headhunters.

Only direct applications will be considered.

This career opportunity is no longer open.
Please search for current vacancies here.

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