MBS Allocations Analyst

Citi Markets Operations is currently at a pivotal point in its evolution and journey to implement a target operating model. We take pride and are passionate about our People and our culture. We are invested in our People and their development. We are transforming and simplifying our operating model, creating an exciting environment which encourages diversity of thought and inclusion.

We are a dynamic, global, and diverse Organization, with a presence in over 60 Countries; covering all front post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & Commodities Operations. We support an extensive range of Capital Markets products and services including Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market, Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and Syndicates where we support both FI and EQ new issues and IPOs.

Our Operations groups are core to the success of the Markets business and have significant impact across the lifecycle of a trade. We partner extensively with a range of internal stakeholders including Front Office Sales and Trading Desks, Compliance, Legal, Finance and HR; alongside having significant interaction with our external client base, playing a key role in the overall client experience. We have a Client relationship group, dedicated to overseeing the Organizational service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first-class experience when doing business with Citi.

Our Business Intelligence and Process Re-engineering group works alongside our Operations teams delivering automation solutions to solve for operational challenges. We partner with Citi’s innovation labs to drive optimization, and overall play a pivotal role in enabling us to transform to achieve our target operating model.

Our Technology partners develop and implement a wide range of applications that support the Operations, Change, Design and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risk, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning.

Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace. We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls; to protect our clients, the firm, and our reputation.

We work closely with our external global peers, partners, and regulators, and play an integral part in leading an agenda at the forefront to optimize and streamline processes and drive strategy across our industry.

Job Purpose:

This is an exciting opportunity to kick start your career at Citi! This is an entry level (B11) role within the Markets Operations Organization where we are seeking enthusiastic and energetic team players with a strong work ethic. No Banking experience is required, we will teach you everything you have to know!

You will play a pivotal part in helping to support the lifecycle of a trade. Working closely with Business partners, Clients, and internal stakeholders to ensure all transactions flow through our front to back Operations teams, with no issues.

You will develop a broad and detailed understanding of the organization’s landscape, culture, processes, and Technology.

You will have the opportunity to recommend creative suggestions on how to improve processes to minimize losses from failed internal processes, inadequate controls, and emerging risk better serve our clients

Department:

Have you ever wondered what happens to a mortgage after it closes? Confused on why your bank sells your mortgage shortly after buying a house? Whether you own or rent an apartment or home, you will see and experience the relativity of what we do and understand how important investors in the secondary market are to supporting the housing market.

The Mortgage-Backed Securities (MBS) Allocations group supports the firm’s Agency MBS trading and sales desk, working closely with clients, agencies, regulators, counterparties, and internal colleagues to create value, mitigate risks, and resolve complex issues in an ever-changing market. MBS products are some of the firm’s more complex areas, needing a high-performing and focused team of operations professionals to support changing business needs. The team covers To-Be-Announced (TBA) Securities, Mortgage Pools, CMO’s, and repo’s for both the residential and commercial markets in both the institutional and Prime Brokerage areas.

Responsibilities:

• Precise allocation of high volume of mortgage pools to TBA’s during the SIFMA Settlement Cycle, maintaining protection of valuable securities in a fast-paced environment
• Thorough knowledge of the product and governing rules/regulations around the product to react to changing business needs
• Work with Agencies (Fannie Mae, Freddie Mac, Ginnie Mae) as well as trading to close Agency deals
• Ensure highest level of customer service
  • Anticipating and resolving inquiries
  • Getting to know your clients to be able to spot issues or irregularities needing resolution/escalation
  • Quick tie-out of position and cash during settlement cycles to ensure prompt funding of our client’s trade activity

• Understanding system trade flows, mapping, reconciliations, and accounting in order to quickly resolve breaks and fails
• Be agile to react to ad-hoc requests or issues needing critical thinking to see through to completion
• Make sure all eligible clients and counterparties are matched on trades within the central clearinghouse (FICC)
• Acting as the owner of whatever business/task is assigned to you, ensuring a thorough understanding front to back of risks, challenges and opportunities for process enhancement/streamlining.
• Maintain succinct and accurate communication with all counterparties internal and external
• Help push MBS Allocations into the future with the design, testing, and implementation of a new MBS allocation system
• Cross-train on all businesses within MBS Allocations, ensuring an overall understanding of the team and its functions and fit within the Cash Securities operations, as well as Institutional Clients Group organization
• Hold self and teammates accountable to deliver the highest level of service and efficiency in all day-to-day operations

What we are looking for:

MBS Allocations is a niche market, so we don’t expect previous allocation experience, although it is a plus. What we do expect is someone that will challenge themselves to learn every day and take their career and our business seriously. At Citi, your career and development are in your own hands and those that greet the challenge with hunger and optimism will succeed.

Qualifications and Skills:

• Energetic, flexible, collaborative, and proactive; someone who can positively and productively add impact
• Proven Leader
• Self-reliant, complex problem solver, results oriented with attention to detail
• Ability to establish and build trust and partner with the organization with a clear client orientation
• Strong, influential communicator who is articulate and concise
• Strong risk management and control mindset
• Provides evaluative judgment based on analysis of factual information in unique and dynamic situations; draws on diverse range of internal and external sources
• MS Office proficiency (Especially Excel, Word, PowerPoint, & Outlook)
• Prior financial experience a plus

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Job Family Group:

Operations - Transaction Services

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Job Family:

Securities and Derivatives Processing

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Time Type:

Full time

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Primary Location:

Getzville New York United States

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Primary Location Salary Range:

$53,620.00 - $74,810.00

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Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View the "EEO is the Law" poster. View the EEO is the Law Supplement.

View the EEO Policy Statement.

View the Pay Transparency Posting

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

Salary : $53,620 - $74,810