Accounting Policy Lead - C16

The Accounting Policy Group is focused on researching technical accounting matters for both internal and external clients under US GAAP and IFRS. Internal clients include the CFO and controllers group, financial reporting, and various businesses within each segment. External clients include treasury, finance and accounting executives at our corporate and financial institution clients.  Citi’s segments are important and complex operations that have numerous significant accounting and franchise exposures.  A seasoned expert in transaction structures, their associated accounting implications, and an ability to lead in a changing environment is needed to ensure that Citi manages its accounting risks. Most importantly, this leader must be able to anticipate, identify and mitigate accounting risks to both achieve the proper GAAP accounting for segment transactions and avoid surprising senior management with earnings-related impacts. A key challenge is that transactions are so varied and present new fact patterns that this leader must be able to work with the accounting policy team and its clients to arrive at the correct accounting decision each time. You do not have the luxury of a practice run or an error that goes unnoticed.

Citi’s Segments Accounting Policy team is responsible for supporting Citi’s five business segments on accounting policy matters.   Specifically, the team is responsible for the interpretation and implementation of new accounting standards, application of US GAAP to the business segments’ products, assessment of complex transactions, review of Citi’s consolidated and subsidiary standalone financial statements to ensure compliance with US GAAP, interaction with the businesses and control functions on accounting matters, and providing accounting training for members of the Finance organization.  

The job requires a broad and comprehensive understanding of the different systems, theories and practices relevant to a function as well as practical experience of multiple business cycles. In-depth knowledge of the industry and direct competitors' products/services is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the business, combined with a solid conceptual/practical grounding in both the function and/ or area of expertise. Excellent communication skills required in order to influence a wide range of audiences. The job is likely to be involved in both internal and external negotiations which will have a major impact on the area managed, and possibly on other related areas and organization as a whole requiring coordination and integration across units.

The Head of Segments Accounting Policy, which reports to Citi’s Global Head of Accounting Policy and Head of Compensation and Benefits Controller, is responsible for managing the Segments Accounting Policy team.

Responsibilities:

• Supporting Citi’s Global Head of Accounting Policy in managing relationships with internal audit, external auditors and regulators on accounting matters relating to Citi’s segments.
• Participate in accounting policy enforcement and ensures that Citi's business activities are in conformity with generally accepted accounting principles (GAAP).
• Assist in facilitating the proper implementation of new accounting standards mostly US GAAP but also IFRS, disseminates information on current accounting topics and recent developments that affect Citi and acts as a source to obtain recent presentations and corresponds with external standard setters and regulators.
• Advise business heads and managers regarding the accounting implications of new products and changes to existing products.
• Prepare and deliver presentations to facilitate firm-wide education of new or changing accounting requirements to ensure that management understands the impact of new standards and regulations
• Research and prepare detailed documentation to support accounting conclusions of new/modified products and complex transactions, including memos written by staff
• Recruiting, developing and retaining exceptional talent for Accounting Policy and Finance overall
• Reviewing and approving new products and structured transactions and participating in the New Product Approval Committee process
• Providing oversight of the Segments Accounting Policy team, including reviewing and approving the accounting conclusions of direct reports
• Provide accounting training (on existing and new pronouncements) to Local Finance and Business teams.
• Support with Balance Sheet Review process, and Internal and External auditors processes where applicable
• Participate in the development of Citi’s Global accounting policies and positions.
• Communicating significant accounting policy matters to the Global