Donald Young

Donald Young

Managing Director, Lead Governance and Control Officer

Location
Greater New York City Area
Industry
Financial Services

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Donald Young's Overview

Current
  • Managing Director, Citibank Lead Governance and Control Officer at Citi
Past
  • Managing Director, Head of Corporate Finance at Citi
  • Managing Director, Assistant Treasurer at Citi
  • Assistant Controller, Head of Accounting Policy at Citi
Education
Connections

342 connections

Donald Young's Summary

Experienced finance executive with over thirty years of leadership experience in the banking, brokerage and insurance industries. Broad skill set includes extensive knowledge of treasury, accounting, M&A, tax, risk and current topical regulatory matters pertaining to the financial services industry. Proactive problem-solver who works well in high pressure, fast-paced environments.

Donald Young's Experience

Managing Director, Citibank Lead Governance and Control Officer

Citi

Public Company; 10,001+ employees; C; Financial Services industry

May 2014Present (6 months) Greater New York City Area

Reporting directly to Citibank’s CEO, provide robust governance and oversight of Citi’s largest legal entity for the benefit of the Board, key regulators and executive management. Partner with senior Citibank officers to develop and maintain the Bank’s control environment. Working with partners in Risk, Treasury, Citi’s Resolution and Recovery team and other disciplines, prepare the Bank’s Dodd Frank Act Stress Test (DFAST) submission and Resolution and Recovery Plans. Participate in key management committees such as ALCO, Risk Management Committee, Global Regulatory Compliance Committee and Global Fiduciary Coordinating Committee.

Managing Director, Head of Corporate Finance

Citi

Public Company; 10,001+ employees; C; Financial Services industry

February 2012April 2014 (2 years 3 months) Greater New York City Area

As Head of Corporate Finance, led a team of professionals that assisted senior management with balance sheet strategies and initiatives that have a significant impact on Citi’s results.

Led Treasury’s participation in a variety of key regulatory initiatives, including the Comprehensive Capital Analysis and Review ( CCAR ), DFAST and Citi’s Resolution and Recovery Planning exercises. Responsible for managing capital in the over 100 countries where Citi operates. Led Treasury’s legal vehicle management structuring efforts designed to improve efficiency, enhance tax planning and simplify the organization. Assisted Citi Capital Markets with issuance and buy-back strategies and managed Citi’s rating agency relationship management team. Managed the team that is responsible for the production of Treasury-related Board materials as well as balance sheet and capital-related peer analyses for senior management and the Board.

Member of the Citibank Asset and Liability Committee (ALCO), Citigroup’s Capital Planning Working Group and Citigroup’s Risk Stress Testing Council.

Managing Director, Assistant Treasurer

Citi

Public Company; 10,001+ employees; C; Financial Services industry

May 1999January 2012 (12 years 9 months)

As Assistant Treasurer, was a key member of the team that helped Citi navigate the financial crisis. Led Treasury’s participation in M&A activities and was responsible for various projects and programs to improve efficiency and liquidity.

During the financial crisis led capital markets equity issuance for Treasury and appeared before the Senate Banking Committee staff and House Financial Services Committee staff to explain Citi’s issuance strategy. Assisted with the execution of the largest preferred/trust preferred to common equity conversion in history. As Global Head of Treasury’s M&A practice was responsible for ensuring that all treasury aspects of M&A transactions were handled properly, including due diligence, capital/funding structure, hedging strategies, rating agency communications and integration. As a member and Secretary of Citi’s Global Asset and Liability Committee (Global ALCO) was responsible for setting meeting agendas and supervising the production of materials for monthly meetings that included Citi’s CFO, Chief Risk Officer, Treasurer and each of the segment CFOs and Treasurers. Was the chief architect of the highly successful Smith Barney Bank Deposit Program which added $55B in core deposits to the balance sheet. Led a number of efficiency projects,including projects designed to reduce reserve requirements and improve check clearing efficiency resulting in excess of $30 million dollars of annual savings. Worked with Citi’s Head of Strategy to examine the impact of currency fluctuations on Citi’s operations around the world, laying the groundwork for Citi’s current FX capital hedging policy.

Assistant Controller, Head of Accounting Policy

Citi

Public Company; 10,001+ employees; C; Financial Services industry

June 1993April 1999 (5 years 11 months)

Key member of the small team that executed the merger of Citicorp and Travelers Group to form Citigroup. Responsible for assessing the financial impact of the transaction and preparing materials that were used by senior management and the Board in negotiations. Responsible for assessing proposed accounting standards and setting Company-wide accounting policies. As Global Head of Citi’s Accounting M&A practice, responsible for ensuring that all accounting aspects of M&A transactions were handled properly. Responsible for the review of external reports, including the Company’s quarterly press releases, its annual report on form 10-K, annual proxy statement and other SEC filings. Provided ongoing assistance to the Company’s Investment Banking Division on technical issues related to potential deals for clients.

Manager of Financial Reporting

Citi

Public Company; 10,001+ employees; C; Financial Services industry

September 1989May 1993 (3 years 9 months)

Responsible for the preparation of external financial reports including the Company’s quarterly press releases, its annual report on form 10-K, quarterly report on form 10-Q and other SEC filings. Provided assistance to the Chief Accounting Officer and Controller on technical accounting matters. Automated reporting processes, providing more timely information to management. Acted as a financial “expert” for the Legal Department during various lawsuit settlement negotiations.

Senior Accountant

Coopers & Lybrand

Partnership; 10,001+ employees; Accounting industry

June 1985August 1989 (4 years 3 months)

Performed financial audits and other services for clients in the brokerage, mutual funds, life insurance, property/casualty insurance, title insurance, commercial lending and healthcare industries. Uncovered a major fraud at a lending institution, saving the client tens of millions of dollars. Installed a new general ledger and consolidation system for a major insurance client and recreated a client’s books from scratch under extreme time pressure after records were destroyed by fire.

Privately Held; 10,001+ employees; Financial Services industry

September 1983May 1985 (1 year 9 months)

Acted as liaison between the Group Insurance Department and the Information Systems Department. Led the automation of accounting and billing for large National Accounts Division customers.

Donald Young's Skills & Expertise

  1. Corporate Finance
  2. Financial Analysis
  3. Financial Modeling
  4. Capital Markets
  5. Banking
  6. Accounting
  7. Finance
  8. Mergers & Acquisitions

Donald Young's Education

LIU Post

BA, Economics

19791983

Chaminade High School - Mineola, NY

19751979

Donald Young's Additional Information

Interests:

Licensed Amateur Radio Operator, Amateur Astronomer, Weather Enthusiast, Travel

Groups and Associations:

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