Head of Futures & Derivatives Clearing Operations, Pune

Citi Markets Operations provides world class solutions to institutional, corporate, sovereign and government clients of Citi Markets.  As a Tier 1 financial institution with offices in over 80 countries, Citi Markets has an unmatched global presence and provides clients with access to the full range of capital markets products.  In that capacity, Markets Operations support all post trade functions in a wide range of asset classes including Fixed Income (Foreign Exchange, Rates, Credit, Municipal Products, Cash & Derivatives); Equities (Cash, Derivatives); Futures and Derivatives Clearing; FX Prime Brokerage; and Syndicates (Fixed Income and Banking).

Citi Markets is the global leader in OTC Cleared product, and ranks in the top 3 in global coalition tables across all product. Our client franchise is excellent, having been named 2026 Derivatives Client Clearing House of the Year by Risk.net, and 2026 Client Clearing Provider of the Year by Futures and Operations World.

To further strengthen our global model, to optimize follow the sun capabilities and to enhance product offering, Futures and Derivative Clearing Operations are now opening a new site in Pune. A Director, Head of Futures and Derivatives Clearing Operations, is being sought to lead the build and ongoing management of this site.

Job Purpose – Head of Futures and Derivatives Clearing Operations, Pune

Futures and Derivatives Clearing Operations (FDC) are opening a new site in Pune, India, to support elements of global FDC flow.  This is a key strategic role. The role will lead and oversee the build plus on-going management of a multi-function organization supporting components of global Brokerage, Reference Data, Controls and Trade Management processes for FDC flow..

Integral to success will be the delivery of accurate, timely, and well-controlled operational outcomes, inclusive of driving internal and external client excellence, books and records integrity, scalability, and governance models.  It is important to ensure that the India build operates in accordance with global best practices and operating model, and that India is aligned to global control requirements.  High efficacy and value add input in support of global activity are also key performance measures.  Strong execution on team, culture and talent development are pre-requisite delivery requirements.  The role requires strong partnership with Global Markets Operations, Markets, Finance, Technology, Legal, Compliance, and Risk.

In addition, dependent upon candidate profile, the Head of Futures and Derivatives Clearing Operations, Pune, will also take on a functional role as Head of Global Reference Data for FDC Operations.  In this capacity the candidate will have direct functional accountability for the delivery of excellence in all reference data processes performed by FDC Operations. 

Technology transformation, process re-engineering and talent management are essential components of this remit, together with data management, complex flow simplification and the successful delivery of competing high priority initiatives.

Key Responsibilities -

1. End-to-End FDC Operations Leadership Lead the India FDC team delivering Brokerage, Trade Management, Reference Data and Control activities across futures and cleared derivatives. Ensure seamless trade clearing and lifecycle management, from trade capture through to settlement, reconciliation, and accounting. Oversee brokerage processing and documentation, including Give-Up Agreements (Docs) and FIA frameworks. Ensure effective management of exceptions, breaks, and operational risk events across products, markets, and currencies. Drive consistency and standardization across processes aligned to global frameworks

2. (Candidate Dependent) Global Functional Head of Reference Data - FDC Operations Lead the global review and build out of end-state reference data processes and platforms, inclusive of talent and location strategy Capture current state processes, identify opportunities of weakness, prioritize remediation and implement solutions to address challenges Review and refine global location strategy in function Ensure effective resource and workflow management Enhance training and talent development plus performance assurance programs Drive consistency and standardization across processes aligned to global frameworks

3. Team Build-Out & Leadership Build, scale, and lead a strategic FDC Markets Operations hub in Pune. Define and implement an integrated organization structure aligned to global operating model priorities. Recruit, develop, and retain high-performing talent across multiple levels (Analyst to Director pipeline). Establish strong governance, operating rhythms, and performance management discipline. Foster a culture of accountability, control ownership, and continuous improvement. Drive effective knowledge transfer and integration with global teams. Engage and be an active member of site leadership and culture.

4. Controls, Risk & Regulatory Management Implement and maintain a robust end-to-end controls framework across trade lifecycle, brokerage, and accounting processes. Embed strong preventative and detective controls, with clear ownership and escalation frameworks. Ensure that all team members and processes operate in accordance with books and records protocols, and that personnel understand the impact of trade flow and journals on general ledger and sub ledger records Partner across the stack to deliver high quality service. Partner with Legal, Compliance, and Risk to manage documentation-driven obligations (e.g., Give-Up Agreements) and regulatory requirements. Proactively assess and respond to regulatory and market structure changes impacting FDC operations. Oversee a dedicated Controls team, ensuring effective execution and continuous enhancement of the control environment.

5. Strategic Change & Transformation Lead strategic initiatives to enhance operating model efficiency, scalability, and resilience. Drive improvements across documentation management, trade processing, and brokerage structures. Partner with Technology to deliver automation, system enhancements, and improved data integrity. Support broader Markets Operations transformation agenda, including cost optimization and process digitization. Champion a culture of innovation and continuous improvement.

6. Stakeholder Management & Governance Act as a senior point of contact for stakeholders across Markets, Finance, Technology, Legal, Compliance, and Risk. Build and maintain strong relationships with external brokers, clearing houses, clients, and industry bodies. Provide clear and transparent reporting on operational performance, risks, and control effectiveness. Support senior leadership in strategic decision-making, issue resolution, and prioritization. Represent India operations in global governance forums.

Qualifications & Experience Experience: 10+ years in Markets Operations, with strong exposure to Futures & Derivatives Clearing. Proven leadership experience across Brokerage, Trade Management, and/or Controls functions. Strong knowledge of Give-Up Agreements (Docs), FIA documentation, and brokerage structures. Strong knowledge of reference data and the ability to map complex end to end flows in order to simplify and to enhance control. Demonstrated experience in building and leading teams. Demonstrated ability to ensure integrity in general ledger and sub ledger processes. Proven ability to design and implement robust control frameworks in a complex, global environment. Strong understanding of trade lifecycle processing, clearing models, and exchange-traded derivatives. Experience managing regulatory and documentation-driven change initiatives. Excellent stakeholder management, communication, and influencing skills. Strong analytical mindset with a focus on risk mitigation and operational efficiency. Ability to operate effectively in a fast-paced, global environment.

Job Family Group: Operations - Transaction Services

Job Family: Securities and Derivatives Processing

Time Type: Full time

Most Relevant Skills Please see the requirements listed above.

Other Relevant Skills For complementary skills, please see above and/or contact the recruiter.

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