Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop to are widely available to all.
Brief Description of the Organization
CBNA is the primary legal entity for Citi, providing products and services to consumers, financial institutions and corporate clients around the world. In the past, Citi has provided most of its internal reporting on a business by business basis. With the changes in the regulatory environment, strong legal entity reporting and governance has become essential. This team is responsible for ensuring that CBNA has the appropriate governance and control infrastructure to meet the demand for legal entity planning, execution, information management and the ever-evolving regulatory environment.
Officer Title - Level: Director
The Escrow Agent Team in Citi Private Bank's s has an immediate opening for an Escrow Agent Product Specialist. This highly motivated, proactive, responsible and reliable individual will work within the CPB Escrow Agent product group, reporting directly to the Escrow National Team Manager.
Responsibilities for this position include (but are not limited to) the following:
Business Development - Deal Structuring
In conjunction with internal Citibank legal counsel and/or external legal counsel, as appropriate, negotiate escrow agreements for new transactions, adhering closely to Citi legal requirements and client timeframes. Understand and minimize the risks of escrow agent transactions when negotiating agreements.
Involve third party paying agents and contractors on negotiations as needed.
Review of escrow agreements / contracts as necessary to determine if client requests / instructions provided are permissible. Understand requirements and monitor activity for specific Escrow accounts to ensure Citibank's contractual duties and responsibilities are strictly followed.
Involve internal partners such as the CPB trading desk or Citi Investment Management as needed.
Work closely with Private Bankers / Banker Associates to obtain all required customer information for account opening. Coordinate deal closings with clients - attend and/or participate in closing calls as necessary.
Ensure compliance with all legal and regulatory policies and requirements of the Private Bank.
Resolve client inquiries and issues on a timely basis and as accurately as possible through effective and efficient use of Private Bank resources.
Direct contact with clients and their attorneys, accountants, third party vendors, representatives, etc.
Working closely with all members of the Escrow Sales Team, assist with the marketing, delivery and servicing of the Escrow Agent Product to Private Bank clients
Assist with closing new escrow agent business opportunities. This includes participating in sales calls, presentations and conference calls as necessary.
Domestic travel when / as required.
Obtain account numbers for new deals.
Prepare deal summary in Escrow Team database needed for banking team to complete KYC and generate account opening paperwork.
Oversee account openings, funding and closings with junior team member(s); review documentation provided for completeness and accuracy. Identify deficiencies and coordinate with banking team and/or client (as the case may be) to cure deficiencies.
Approximately 10/15 years' experience working with escrow transactions and settlement funds is preferred.
Familiarity with the securities industry - specifically, securities movements, fixed income securities and deposit products.
Strategic focus : strong candidates will exhibit an ability to proactively think "out of the box" and to creatively craft solutions to meet client needs. All transactions are different and clients constantly seek a "Citi solution" for their endeavors.
Technical skills : thorough knowledge and familiarity with Microsoft Word, Excel, Powerpoint and Outlook required. Knowledge of Microsoft Access helpful, but not essential.
Project management skills : candidate must be highly organized and efficient; ability to effectively multi-task and adhere to daily time sensitive deadlines is critical.
Analytical skills : the ability to read, comprehend and interpret legal documents and contracts governing escrow accounts is required.
Negotiating skills : experience with negotiating contracts or documents related to escrow accounts .
This position requires heavy client contact; strong interpersonal and client relationship management skills are essential.
Excellent oral and written communication skills
Preferable Legal and tax accounting training/background
Internal Number: 6079524
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