ICG Innovation & Business Development – Managing Director, Business Development

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ICG Innovation & Business Development – Managing Director, Business Development

Citi’s mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. The core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients. With 200 years of experience helping, our clients meet the world’s toughest challenges and embrace its greatest opportunities. Citi is the global bank – an institution connecting millions of people across hundreds of countries and cities.

Citi’s Institutional Clients Group is comprised of diverse, talented professionals globally located in more than 100 countries and jurisdictions and territories, collectively representing an unparalleled international network of financial skills and capabilities serving targeted clients. Our clients are top corporations, financial institutions and governments in countries and jurisdictions around the world and our mission is to help them achieve their goals. We do so by providing strategic, financing and operational insights and executing tailored product/service solutions, both across our borders and domestically. The ICG responds to clients’ changing needs through its long-established relationship coverage approach that provides client solutions utilizing all of Citi’s relevant capabilities, including the broadest possible access to financial markets globally. No other institution can match our combination of global insights, client relationship management services, geographic reach and local and cross-border product expertise.

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 are widely available to all.

Background

The ICG Innovation & Business Development team is responsible for understanding and articulating the ICG growth strategy, and working with business and functional partners to implement those strategies. Key to these efforts is identifying new sources of growth and the actions and resources required. For strategically relevant cross-business efforts, the team is responsible for executing partnerships, JVs, investments and/or new product development.

The Role

The Head of Business Development (BD) will work closely with the Head of Innovation & Business Development to support the growth and profitability of Citi’s Institutional Clients Group. The successful candidate for this high impact role requires expertise in negotiation, relationship management (internally and externally) and people management, as well as having astute financial acumen and an exceptional understanding of wholesale banking and digital commerce. The individual will provide leadership and expertise on informing, solving and driving the execution of the most critical strategic partnerships and negotiations for the Institutional Clients Group.

Responsibilities Include:

  • Work with the Head of Business Development to prioritize strategic objectives against partnership, joint venture and M&A opportunities
  • Complete 2-4 franchise wide partnerships per year
  • Establish best practices and build a (BD) playbook on methodologies for approaching transactions across the Institutional Clients Group
  • Evaluate potential transactions and business cases from a strategic, operational and financial perspective
  • Have experience managing a team and leading cross functional / matrixed teams
  • Develop and manage a small, high-performing team to work across business lines to design, test and close new business ventures
  • Proactively partner with the (ICG) businesses to identify and implement strategic and tactical initiatives that provides Citi with a sustainable competitive advantage in the marketplace- includes identifying potential partners, define partnership construct and negotiate and execute agreements
  • Assist in evaluating the internal and external business environment to develop a long term overall vision and strategy for the organization
  • Oversee key analysis and support for negotiations while working closely with internal and external partners to structure and execute transactions
  • Lead or assist in potential partner meetings and pitches, providing strategic advice and proposals
  • Assist in establishing the strategy and direct resources to develop, negotiate and secure new partner programs as well as manage existing partner contract negotiations
  • Analyze prospects by gathering information about growth, competitors and market share possibilities
  • Assist or lead transactions from beginning to close (client sourcing, pitching, M&A process, valuation analyses, due diligence, negotiations, closing)
  • Screen potential business deals by analyzing market strategies, deal requirements, potential and financials; evaluating options; resolving internal priorities
  • Work with product specialists and subject matter experts across the bank to structure customized solutions that meet clients’ unique needs

The key characteristics of the ideal candidate for the position are:

  • Superior negotiating proficiency
  • Excellent stakeholder management skills to ensure alignment and buy-in across the organization
  • Continuously challenging the status quo
  • Deep understanding of various partnership models and implications on structuring trade-offs
  • Conducts rigorous analysis and is able to synthesize complex and multiple source data into fact based and nuanced solutions
  • Ability to build credible and trusting relationships across the firm and with key external partners
  • Influential and high track record of followership with demonstrated experience gaining consensus and alignment in a highly matrixed environment
  • Ability to set priorities and ‘triage’ in a fast paced, highly matrixed, dynamic environment
  • Self-motivated, highly adaptive and able to work well in high stress
  • High ethical standards and mature risk tolerance who structures deals balancing risk and reward

Requirements:

  • Extensive professional experience in management consulting, investment banking, innovation or business development with knowledge and curiosity in Partnerships and Fin Tech
  • Superior relationship management skills and experience with senior client executives
  • Demonstrated success in managing internal and external partnerships and ability to negotiate complex structures
  • Successful track record of executing deals
  • Prior P&L management, strong financial acumen and analytical skills
  • Ability to lead cross-functional teams through a clear and consistent line of sight regarding critical work activities
  • Analytical and conceptual thinker with ability to operate in “white space”
  • BA/BS required, MBA preferred / JD (legal) background an advantage
  • Travel approximately 25% (post COVID-19)

 

To apply for this job please visit jobs.citi.com.

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