SVP Concentration Risk Management
4 days ago
About Citi:
Citi's mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. Our core activities are safeguarding assets, lending money, making payments, and accessing the capital markets on behalf of our clients. We have 200 years of experience helping our clients meet the world's toughest challenges and embrace its greatest opportunities. We are Citi, the global bank - an institution connecting millions of people across hundreds of countries and cities.
We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Principles represent the qualities, behaviors, and expectations we all must exhibit to deliver on our mission of enabling growth and economic progress. They contribute to creating a culture that drives client excellence, controls excellence, and operational excellence.
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.
About the Group:
Enterprise Risk Management (ERM) within Independent Risk Management is responsible for overseeing the implementation of the principles articulated in Citi's Enterprise Risk Management Framework and for specific enterprise-level risk management programs and processes that span the organization, the lines of defense, and various risk categories. These include risk identification, enterprise risk analytics, risk appetite & limits, new activity risk management, risk frameworks & policy, strategic risk, digital assets risk, and climate risk. The group is headed by the Head of ERM who reports directly to the Citigroup Chief Risk Officer (CRO).
About the Team:
As part of ERM, the Risk Appetite & Limits team is responsible for designing and driving enhancements to strengthen the firm's approach to risk appetite and limits, including concentrations. The team's book of work is constructed to deliver a clearly articulated risk appetite that is connected to firm-wide processes, cascaded within the firm, and that is supported by metrics, limits, and assessments that ensure a risk profile that is consistent with the firm's defined risk appetite. The team is led by the Head of Risk Appetite & Limits who reports to the Head of ERM.
About the Role:
The current opening is for a Senior Vice President on the Risk Appetite & Limits team, focused on the firm's approach to enterprise concentration risk management. The objective of the role is to a) support and enhance the concentration risk framework for the Liquidity Risk Pool, b) manage the Concentration Risk Linkage to Top Risks and Material Risk Inventory (MRI), and c) manage the concentration risk-related Board Reporting process. The individual will be responsible for providing concentration-related subject matter expertise in Liquidity Risk and MRI/Top Risk areas to relevant first and second line stakeholders.
Responsibilities:
- Risk Assessment and Identification – Work with Liquidity Risk team to enhance concentration risk identification metrics to ensure robust risk pool coverage and monitoring of concentration risk including emerging concentrations.
- Review and Challenge - Lead robust review and challenge sessions with key stakeholders across Liquidity Risk to ensure Limits are appropriately calibrated.
- Risk Reporting and Communication - Engage with various stakeholders to develop clear, concise, and compelling risk reports for senior management and the Board by synthesizing key concentration issues that impact Citi. Articulate complex risk issues in a way that resonates with diverse audiences.
- Manage the concentration linkage into the MRI/Top Risk (aka Risk ID) Process.
- Regulatory Compliance - Prior experience of with implementation of frameworks related to OCC's Heightened Standard is extremely desirable. Knowledge of regulatory requirements around management of Concentration Risks at large banks is required.
- Adherence to Policy and Procedures - Ensure all monitoring and reporting procedures align with ECRM risk policies and work effectively with individual business risk policies as they pertain to ECRM.
- Provide oversight to VPs in the team when required.
Development Value:
The successful candidate will have the opportunity to be part of a significant transformation effort of one of Citi's foundational risk management programs, with active engagement across multiple business lines and regions. The candidate will have organizational exposure to senior management and subject matter experts across businesses and functions, including the Citigroup CRO and their leadership team.
Qualifications:
- Strong background in Financial Risk Management with hands-on experience in Enterprise Risk Management.
- 10+ years of experience in Treasury Risk Management or Liquidity Risk Management. Experience with Liquidity Stress testing is required.
- Solid understanding of Liquidity Risk; Broad understanding of different risk stripes within ECRM framework, including but not limited to credit, market, operational, etc.
- Exposure to Risk ID Process.
- Familiarity with Regulatory expectations around Concentration Risk will be helpful.
- Strong analytical skills and the candidate should have the ability to link common risks across different risk areas.
- Education:
- Bachelor's degree/University degree or equivalent experience.
- Master's degree preferred.
Job Family Group: Risk Management
Job Family: Portfolio Credit Risk Management
Time Type: Full time
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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