CGW Consumer Business Manager, International Personal Banking

Employer
Citi
Location
Singapore, Singapore
Salary
Competitive
Posted
19 Nov 2022
Closes
19 Dec 2022
Ref
17823956
Job Function
Operations
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Global wealth continues to grow world-wide at an unprecedented pace. Citi's global footprint and ability to service clients holistically position us to become an industry leader in wealth. The recent formation of Citi Global Wealth (CGW) as Division of Citi, with over 8,000 employees, has drawn together insights, experience, and assets from across the Global Consumer Bank, the Private Bank, and the broader Institutional Clients Group. Citi Global Wealth is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It generates over $6.6 Billion of Revenue across its global footprint in Asia, EMEA, Mexico, and North America. CGW propositions are delivered via tailored offerings across CitiGold, CitiGold Private Client, and Citi Private Bank brands.

By building on the combined strengths of Citi, CGW will transform the way we serve clients across the wealth spectrum to deliver the full range of high tech and high touch capabilities Citi can offer and ultimately help them achieve their goals.

Citi Global Wealth will be relentlessly focused on our Clients from Emerging Wealth to Ultra-high Net Worth - whether it's access to investment opportunities and advice, tools and analytics, a focus on environmental, social and governance concerns or more engaging digital experiences.

In Asia Citi Global Wealth, combines the Citi Private Bank and the Consumer Wealth organization, including the International Personal Bank, into a single platform to serve our clients. CGW Asia is a top three wealth manager in the region with over US$300B in clients AUMs and is looking to add in excess of US$150B AUMs by 2025 and further extend our leadership position in Asia.

Job Purpose

Responsible for setting the strategic priorities and vision for the growth and development of the IPB business, which provides specialized wealth management advisory and solutions to a select group of global clients, who are offshore in nature.

  • Reports to the Asia Pacific Head of Citi Global Wealth
  • Responsible for the strategic direction of the business, P&L, performance of the business in a highly competitive and complex market environment
  • Manage all key business drivers such as Client growth, Net New Money, Client satisfaction, productivity, Revenues, Expense, Operating efficiency, EBIT and Customer profitability within the established Risk and Control framework
  • The role will ensure the business (IPB SG) is aligned with global and regional priorities and the business level objectives are met
  • Drive strategic & transformative initiatives to
  • capture the growing Wealth Management opportunity in the affluent and HNW space across the Asia Pacific region
  • leverage the strong brand, regional Citi franchise network, the market leadership positions and the changing customer demographics to drive business growth
  • with the changing customer behaviour that presents opportunities in digital banking, develop a relevant business model to tap into these opportunities
  • Respond to developments in the industry and financial markets and its impact on the business and client relationships
  • Build a strong employee proposition to attract, retain and develop the right talent to build world class teams
  • Ensure compliance to changing legislative policies within Citi and the local country of operation and referral markets. Ensure the appropriate controls are in place and adhered to
  • Partner with O&T, Finance, Compliance, Legal, HR, CBORC and the Regional office to develop and coordinate the execution of the IPB Consumer Banking strategy and business plan
  • Ensure engagement and liaison between CCOs and relevant regional/country teams for all regulatory and business inter-face
  • As a member of the CGW Asia Leadership team, this role will play a key role in shaping the WM business across the region


Job Responsibilities

1) CUSTOMER FRANCHISE GROWTH
  • Set the strategic direction for the business in terms of ambition, products, partners, business development, segments and channels in cooperation with regional partners.
  • Ensure strong value propositions focused on core customer segments and products.
  • Grow the portfolio by way of new client acquisition & relationship deepening through cross-sell of appropriate products.
  • Identify market opportunities for business growth & implement sales programs to achieve the desired results.
  • Build and deepen customer loyalty and satisfaction to deliver a remarkable experience. Institute measurements and tracking for key drivers on Customer satisfaction and NPS scores.
  • Drive initiatives to become a digital bank.


2) RISK MANAGEMENT
  • Continuously assess the business' key risk indicators & ensure strict compliance at all times. Initiate recommendations for enhancements of policies where appropriate, and foster sense of openness among staff to surface potential issues and concerns to higher level.
  • Exercise sound credit and business judgement and at all times, to safeguard the interest of the bank as well as that of the customers.
  • To ensure at all times, compliance with the bank's policies, regulations and guidelines pertaining to staff behaviour, sales, products and marketing.
  • Manage the team on a "no surprise" basis, ensure documentation outstanding is down to minimal level.
  • Embed a strong culture of ethics, risk management, compliance and controls.


3) PEOPLE MANAGEMENT
  • Build, lead, coach and motivate team to achieve business objectives.
  • Develop managerial skills of direct reports into high quality managers through training, coaching and challenging on-the-job assignments.
    • Build the right talent, bench strength, leadership pipeline and talent diversity in partnership with Country and Regional HR. Have ready back-up for all critical roles including self
    • Ensure clear, regular & open dialogue with staff on all aspects of the business, including performance evaluation.
    • Responsible for overall people management - covering recruitment, training & certification, career development, reward & recognition, with support of HR.
  • Engagement: Walk the talk. Demonstrate great people-management skills by taking ownership of the managed team, ensuring Citi People management practices are implemented (e.g. Regular dialogues, development opportunities, "Voice of Employee" actions etc)
    • Provide leadership and guidance to the management team to support them on day-to-day management of the business


4) FINANCIAL PERFORMANCE

  • Deliver financial key-lines by managing revenues, costs, EBIT, P&L write-offs, NCL and operating efficiency to ensure delivery of Plan and growth.
  • Build sustainable annuity income for the Business.
  • Initiate spend-smart programs and ensure this discipline is well entrenched within the business.
  • Drive strategic & transformative initiatives for productivity saves

Incumbent Specification

Business Dimensions:

  • The IPB SG business generated over $ 360 MM in revenues
  • Client footings of >$ 30 billion (deposits, Investments and Loans)


Other business dimension details to be shared with the candidate.

Qualifications:

Graduate or Master level education.

Competencies:

  • Ability to build a strong cohesive unit.
  • Ability to work in a matrix environment.
  • Ability to manage cross-functional teams and challenge status quo
  • Ability to manage external business partnerships.
  • Proactive about own development.
  • High level of interaction with peers and Senior Management.
  • Public presence (clients, local partners, government/regulator etc).
  • Awareness of Citi people processes, policies and relevant laws.


Knowledge/Experience:

  • Experienced in managing P&L and people organization.
  • Excellent people management track record. Demonstrated ability to build high performing teams.
  • Deep knowledge and understanding of the WM Consumer Business.
  • Sales & distribution and exposure to product management.
  • Strong business, risk and control acumen.
  • Excellent strategy implementation skills.
  • Excellent leadership, interpersonal, relationship management and presentation skills.
  • Very strong communication skills.
  • Excellent problem solving and analytical skills.
  • Strong negotiation skills and ability to develop and maintain effective relationships.
  • Ability to influence people who do not report directly.


Job Family Group:
Business Strategy, Management & Administration

Job Family:
Business Management

Time Type:
Full time

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