Citi UK Country Controller in London, United Kingdom

  • Primary Location: United Kingdom,England,London

  • Education: Other

  • Job Function: Finance

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: No

  • Job ID: 18000553


Job Purpose:

The UK Country Controller is responsible for controlling all UK Legal Entities including, but not limited to, the following:

•Local Regulatory Reporting (excl Liquidity)

•Capital Monitoring and Forecasting

•Legal Entity Management and Governance

•UK Statutory Accounts

•Control environment

Job Background/context:

The UK Controller is responsible for the integrity of all aspects of reporting for UK incorporated vehicles (in excess of 100 in number), including Legal Entity Management and Governance, Local Regulatory Reporting (PRA and FCA) and Local Statutory Accounts. The largest UK entities are CGML, CBNA London and CEP UK Branch, and together these total a balance Sheet of $400bn.

The objective of the role is to ensure that the necessary control environment is in place to ensure accurate and effective reporting, to all stakeholders both internal and external, in terms of US, UK and European regulatory requirement. In addition, the role is to represent the UK Controllers organisation at all governance forums (Audit Committee, BRCC etc).

Key Responsibilities:

Local Regulatory Reporting

In line with the global standard, the responsibility for production of all UK Local Regulatory Reporting is assigned to the Budapest CSC, while the accountability for the Governance and Results of Local Regulatory Reporting is assigned to the UK Controllers team. As such the UK Controller ensures that the Local Regulatory Returns fairly present the results of the Legal Entity, both from a prudential (capital) and statistical point of view, and that these results are reviewed under a well-controlled governance process.

In addition to this, the UK Controller is accountable for ensuring that a complete set of all Regulatory Rules has been captured, interpreted and implemented by the UK Controllers Team.

For CGML, the key returns (amongst others) included under the UK Controllers remit are as follows:

•Quarterly COREP (Capital Report)


•Pillar III

In addition, there are a variety of statistical reporting requirements across a number of UK Legal Entities, including both the CBNA London Branch, and the CEP UK Branch.

Capital Monitoring and Forecasting

Again, the responsibility for the production of daily monitoring of local capital requirements is allocated to the Budapest CSC, but the accountability for ensuring that this fairly reflects the daily capital position is that of the UK Controller. There is therefore a requirement that the UK Controllers team is set up appropriately to understand and challenge the daily capital position, to ensure results are accurate, and to escalate any issues to appropriate stakeholders and Seniors.

The CGML capital position is fairly volatile, so it is a key responsibility to ensure that capital levels stay within pre-approved thresholds, and to predict forward business usage to ensure that future potential breaches are anticipated and acted upon to prevent occurrence. This is done annually under the ICAAP process, however this needs to be done on an on-going basis to ensure that any capital actions are predicted in advance, and requested in a well-planned manner.

Legal Entity Management and Governance

In line with the global standard, the production of all US Reporting, both Financial and Regulatory, is performed by the CSC organisation, with support from the UK Controllers team. However the responsibility to ensure that US financial results are correctly adjusted to IFRS, is with the UK Controllers team. As such the UK Controller needs to ensure that the IFRS results for all legal entities within the UK are complete and accurate, and fairly present the financial position of the entity on an on-going basis.

These results are then presented to the relevant entity governance committees, in particular for CGML this will be the Board of Directors, and for the CBNA London and CEP UK branches, this will be to the Branch Management Committees.

In addition, the Legal Entity Management team within UK Controllers is responsible for all aspects of the Legal Entity Management Policy that are attributed to the Controllers function.

UK Statutory Accounts

The UK Controller is accountable for the preparation of statutory accounts for all UK incorporated Legal Entities, as well as managing the UK External Audit.

Control Environment:

The control environment, within which all above reporting is performed, is of paramount importance and so the UK Controller is responsible for ensuring that all reporting as described above is done within a well-controlled environment, with appropriate design of control and on-going control effectiveness. This should be achieved through the MCA, where all process, risk and control combinations have been assessed to ensure robust, and where each control is assessed quarterly for effective operation.


•Projects: understand systems and operating processes generating the Financials and participate to system

Enhancement, implementation of new systems, closing or opening of Legal vehicles …

•Preparation of ad hoc reports and analysis to Corporate Governance committee and Business

•Advise the businesses on accounting and tax treatments and involve in product programs

•Participate to process enhancements and re-engineering to improve financial processes

•Liaise with external authorities and auditors

Representation at Governance Forums

This role attends the UK BRCC, UK ALCO, CGML Board Meeting and the CGML Audit Committee.



•Qualified Chartered Accountant or equivalent

•Extensive experience in both Finance and Banking, with focus on Financial and Regulatory Reporting


•Leader, demonstrating all 6 of Citi’s Leadership Standards

•Strong focus on control

•Good communication skills, able to deliver effectively to senior levels of the organisation

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.

Citi is an Equal Opportunities Employer