Citi has been doing business in Nigeria since 1984. The bank formerly operated under the name Nigeria International Bank Limited, but was renamed to Citibank Nigeria Limited (Citi Nigeria) in 2008 to fully align with Citi’s global brand and identity.
The bank has a strategic business focus in Nigeria specializing mainly in Corporate Banking and servicing mostly corporate clients. Citi Nigeria offers a broad range of services, including global transaction services, sales and trading, corporate finance and investment banking services to corporate and commercial customers, financial institutions (including other banks) and public sector organizations.
Within the industry, Citi is known for its innovation as it has successfully leveraged its global network and extensive knowledge base to offer its Nigerian clients innovative products and services.
Businesses
The bank offers a broad range of services, including transaction services, sales and trading, corporate finance and investment banking services to corporate and commercial customers, financial institutions (including other banks) and public sector organizations.
In August 2008, Citi launched its Direct Custody and Clearing Services in Nigeria, the 53rd market on its proprietary network – the largest in the world. The DCC business will facilitate business transactions for clients and investors looking to do business in Nigeria.
With 12 branches across the country, Citi Nigeria continues to develop innovative products and services for its customers in and around strategic locations.
Sustainability
At Citi Nigeria, we are committed to the needs of the communities in which we operate. By driving sustainability through corporate citizenship, we have developed an Environmental and Social Risk Management (ESRM) Policy, which includes categorization requirements, environmental due diligence, elevated review and approval requirements for the following transaction types:
corporate and government loans
project finance
equity transactions
acquisition finance
letters of credit
bid and performance bonds
project finance advisory mandates
In 2003, Citi was pivotal to the development of the global Equator principles. These standards serve as a voluntary set of guidelines for managing environmental and social risk issues. They are utilized for the funding of development programs such as project financing and advisory with capital costs of over US$10 million.
It is important to state that these principles have been vetted by the World Bank and the International Finance Corporation (IFC). Similarly, Citi has implemented guidelines to manage risks in corporate loans, debt securities and underwritings greater than US$50 million where use of proceeds is known.
Corporate Social Responsibility
Citi Nigeria is very active in community activities in Nigeria. As part of the Citigroup family, the bank, through its global charitable arm, Citi Foundation, supports various non-government organizations (NGOs) in Nigeria.
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on microfinance and micro entrepreneurship, which helps individuals become economically self-sufficient; small and growing businesses leading to economic expansion and job creation; education, which prepares young people for personal and professional success; financial education, which helps individuals make informed financial decisions; and the environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment.
In 2013, continuing Citi’s long-standing tradition of supporting local communities in which we do business, Citibank Nigeria Limited’s Board of Directors approved charitable donations of over $95,000 to more than 30 charitable organizations across Nigeria.
In 2012, Citi Nigeria and Citi Foundation disbursed grants of more than $320,000 (USD) to Nigerian NGOs to support programs such as micro entrepreneurship, financial education, and youth education. The recipients of the grants include Junior Achievement Nigeria, LEAP Africa, Fate Foundation, Hope Worldwide Nigeria and Growing Businesses Foundation.
In 2011, in line with the strategic initiatives of the Central Bank of Nigeria and the economic development goals of the Federal Government, Citi launched the Citi Microenterprise Development for Rural Farmers Initiative (CMDRFI). The program began with a pilot in Gabasawa LGA, Kano where over 100 farmers were selected and participated in financial literacy programs after which they were provided low interest loans to support and grow their farming businesses.
Annually, the bank holds its Global Community Day activities. All staff of the bank (globally) are encouraged to volunteer and do community work on the day. More than 500 people participated in last year’s global community day activities in Lagos, Abuja and Port-Harcourt.
Local Branch Expansion
Citibank Nigeria has 12 direct branches and more than 1,500 partner bank locations strategically situated across the country, enabling proximity to our clients, and allowing us to be responsive to their needs. Also, through Citi’s innovative electronic banking platform, CitiDirect®, our clients are able to transact business with us at any time of the day, even from the comfort of their offices.Team/Role Overview:
The Trade and Working Capital Operations Unit Head is a role responsible for ensuring transactions are processed accurately and on time in coordination with the Transaction Services team. The overall objective is to manage the daily operations for a larger Cash and Trade Operations unit, consisting of multiple teams performing related tasks.
What you’ll do:
Oversee daily operations for multiple teams and several unit supervisors and ensure teams meet performance and quality expectations
Manage staff resource allocation while assisting with the development and oversight of the budget
Resolve complex and highly variable issues with significant departmental impact
Evaluate performance and make recommendations for training/development, pay increases, hiring, terminations and other personnel actions
Ensure essential procedures are followed and contribute to defining workflow standards
Contribute to the objectives of the entire Transaction Services function
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm’s reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Review transactional documentation for various Trade products and processes to ensure full compliance with applicable regulatory guidelines, laws of Nigeria and/or the United States of America, Citigroup corporate policy, local procedures and international conventions.
Ensure that updates of transaction details on business applications/Product processors for various Trade products and processes by processors, supervisors and unit heads comply with Citigroup corporate policy and local procedures. Ensure that such updates are done accurately and promptly.
Ensure that information provided to regulators, independent control, external auditors, Citigroup auditors, customers, business units and operations management is accurate and adequately representative of the degree of compliance with applicable requirements.
Ensure proofing of internal accounts to departmental records as and at when due. Ensure that all proof exceptions are corrected and root causes fixed.
Plan and co-ordinate MCA for various Trade products and processes as and when due. Ensure that all MCA exceptions are corrected and root causes fixed. Ensure that satisfactory MCA, QA and Internal Audit (IA) ratings are achieved for various Trade products and processes. Ensure that CBN, NDIC and any regulatory audits are satisfactory for various Trade products/processes.
Ensure that all accruals, amortisations, charges and fees are accurately computed as and when due and that appropriate accounting entries are accurately passed as and when due.
Ensure that processors, and supervisors adhere to service delivery standards, operating procedures/process notes and Product Control Function Checklists (PCFC). Resolve all exceptions and root causes. Escalate to the MEA Trade ops Head/SCOO/other seniors where necessary.
Provide guidance and training for processors, and supervisors. Ensure appraisals, job descriptions, development summaries and goals are prepared for processors, and supervisors as and when due. Proactively enable processors and staff to acquire and develop the necessary skills for their career development and growth. Ensure that human and other resource requirements for efficient and smooth running of Trade Operations are provided within budget limits.
Review and update local procedures, DCFCs, MCA checklists and designations as and when due for compliance with applicable regulatory guidelines, laws of Nigeria and/or the United States of America, Citigroup corporate policy, local procedures and international conventions.
Provide input to the development of Trade product programmes. Support the business units on all Trade business development projects.
Ensure optimum operational efficiency of the various Trade products/processes. Monitor all processes for optimum performance and initiate/participate in process improvement steps where necessary. Review service delivery standards in line with customer and business requirements.
Manage and coordinate the activities of the off-shoring units by ensuring that they deliver in line with the approved procedures and Statements Of Works (SOW)/ICSA.
Ensure effective working relationship between the offshore processing units and the branch.
Ensure that institutional policy/local regulatory changes is communicated to the off-shoring units in a timely manner.
Provide leadership, vision and strategic direction for the department as a whole, with guidance on interpretation on all applicable policies.
Drive continuous improvement in customer and employee satisfaction through various initiatives contribute to the growth and sustainability of the business portfolio.
Ensure strategic deployment of human and other resources to achieve corporate goals.
Maintain good rapport with representatives of customers and regulators and provide leadership in resolution of any issues that can potentially adversely impact the relationships of these parties with the bank.
What we’ll need from you:
Bachelor’s degree, preferably in business, accounting, or finance is the minimum educational requirement.
15 years post-graduation experience out of which 10 years must have been in the banking industry and at least 2 years must have been on the Assistant General Manger grade.
Mandatory working experience in at least 3 major areas of banking operations.
10-15 years of experience in a related senior level role with experience in trade / cash operations and management.
Proven experience in creating and implementing processes that result in improved business performance.
Effective verbal and written communication and analytical skills
Bachelor’s/University degree, Master’s degree preferred.
