About This Role
Leading the development of Securities Services business in Kuwait is the core of this role, representing Citi internally and externally with authorities and market regulators. The Head of Custody ensures a robust business model and high-quality service for clients to achieve business growth and increased profitability in line with strategic objectives, including prospecting new business mandates and product offerings.
Responsibilities
- Create and execute a clear business strategy for the local business in the context of the regional business strategy
- Support business growth objectives, market share, and achieving revenue targets whilst retaining appropriate risk management discipline
- Maintain close control over P&L and control over expenses
- Pitch for new business prospects, sales opportunities, and envisage new product offerings
- Take end-to-end ownership and leadership for the delivery of custodial services including Operations
- Interface and represent Citi franchise with market regulators and industry forums
- Build and maintain constructive relationships with internal stakeholders inside the franchise including operations, corporate banking, treasury, compliance, and legal
- Ensure delivery of robust service level and high-level client satisfaction through execution of service excellence programs, and explore room for added services and efficiency/controls
- Remain close to market infrastructure (i.e. Boursa Kuwait, KCC) and promote initiatives to help develop the market and promote more foreign investments into Kuwait
- Act as the first line of defence by monitoring, controlling business risk
- Handhold internal and external audits, and take ownership of action points and CAPs
- Oversee BAU and act as first escalation point
- Monitor regulatory changes and their impact on local franchise
- Lead advocacy efforts with market regulators and ensure visibility of thought leadership
- Have an oversight into product manager responsibilities
Requirements
- 8+ years’ experience in Custody Services
- Detailed understanding of Direct Custody and Clearing and Investor services in Kuwait
- Experience of dealing with local market infrastructure and regulators
- Experience of working across multiple products/geographies
- Arabic speaking
- University degree
About the Company
Citi's Custody provides financial institutions worldwide with unparalleled access to a global Citi network that enables them to grow, reduce cost, and mitigate risk. The company leverages its strength in capital markets to create value for clients across the entire investment value chain, offering a market-leading breadth, depth, and scope of solutions complemented by geographic reach.
