6 days old

Private Bank - Americas Head of Counterparty Credit Portfolio Risk Management

New York, NY 10176
Citi Global Wealth

CGW is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It has been created by combining the Wealth Management businesses across Citi Global Consumer Bank and Citi Private Bank. It serves over 500,000 clients through its global footprint in Asia, EMEA, Mexico, and North America.

CGW delivers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. By building on the strengths and capabilities across Citi, we intend to transform the way we serve clients across the wealth spectrum, delivering the full range of high tech and high touch capabilities Citi can offer, and ultimately help them achieve their goals.

Citi Global Wealth propositions are delivered via tailored offerings across the Citigold, Citi Private Client, and Citi Private Bank brands.

Job Background/Context

The Global Margin Lending / MSBF (Margin and Securities-Based Financing) business of CGW provides financing to the whole Wealth spectrum of clients ranging from the affluent up to the Ultra Net Worth segment against liquid listed securities. In addition, Global Margin Lending / MSBF provides a utility service to Global Wealth providing a first line of defense credit analysis and approval function for all counterparty risk across CGW. This includes Global Margin Lending / MSBF, DMA (a JV with Citi Markets and Global Capital Markets within CGW)

As part of our efforts to strengthen and deepen our controls capabilities, we have established a new function within CGW Lending and Banking called Global Counterparty Credit Risk Portfolio Risk Management (CCR PRM)

CCR PRM will work closely with our CGW Lending teams to serve as a critical component of our First Line of Defense for CCR management and will work with our Independent Risk partners to ensure best-in-class risk and controls, as well as client responsiveness. Key responsibilities will include

+ Define and implement CCR portfolio risk metrics and analytics for the whole CGW.

+ Define and implement best in class stress testing and methodologies for the 1st LoD in CGW

+ Define and implement a loanable value (LV) methodology for CGW based on collateral concentration and liquidity by standardizing the methodology across both Citi Consumer Bank (CCB) and Citi Private Bank (CPB)

+ Manage and sponsor CCR models for CGW and liaise with the second line to

+ The scope of responsibilities and scale of this team will evolve over time to continue to meet our needs.

CCR PRMs mission is to provide best-in-class credit analysis and monitoring which is risk-differentiated, thoughtful, timely, and which conforms to applicable local and global regulatory expectations for safety and soundness in their relevant jurisdictions.

CCR PRM Americas Head will coordinate with other credit management groups across Wholesale/ICG, Retail/Consumer and Counterparty Credit Risk to ensure full alignment on business and regulatory goals, as well as consistency and best practices where appropriate

Counterparty Credit Risk Portfolio Risk Management Head

+ Americas Head of CCR PRM will be a member of the Global Margin Lending / MSBF Leadership Team for Lending and Banking, a division of Global Wealth.

+ The incumbent of this role will be tasked with leading regional team of CCR risk specialists with the initial, primary responsibility to perform Portfolio analysis of clients and collateral concentrations and stress testing

+ Americas Head of CCR PRM will drive the development of the CCR PRM function including recruitment of top talent and organizational enhancements as the scope of responsibilities and scale of this team evolves over time to continue to meet the lending needs of CGW.

+ This is a highly demanding role, requiring strong leadership, governance and oversight founded on exemplary lending and markets experience as well as knowledge and experience of Citis Credit Policies, Standards, and Procedures, risk management practices and regulatory expectations


Interpret the local and global strategy and drive execution of frameworks, programs, and technological solutions to achieve the following key mandates:

+ Define, establish, and manage scalable end-to-end processes for the core production pillar. Specifically, this would include

+ _Portfolio stress testing:_ Develop and manage an organization that effectively engages with CCR Transactors, CCR head of Underwriting and independent Risk Managers (2nd line) to effectively manage portfolio risk management for CCR CGW.

+ Deliver best-in-class portfolio counterparty credit analysis stress testing, credit contingent market risk PD models, collateral liquidity, and concentration.

+ _Accuracy and completeness of Credit Data:_ ensure that data captured in our counterparty credit infrastructure are in-line with the approvals and conform best in class standards

+ _On-going monitoring:_ deliver timely, high-quality analysis of existing exposures including pockets of client and or/collateral concentrations.

+ _Escalations:_ ensure timely tracking and escalations around exposure monitoring

+ _MIS and Reporting:_ Developing analysis tools to measure critical production and control metrics to drive portfolio.

+ Partner with the WCM Head to provide 1st-line approvals in line with Citi Credit Policy, CGW Standards and Product Programs

+ Manages and drives multiple regulatory and control priorities including responding to Regulatory (including WCR and Consent Order), Audit and FCRs findings remediation.


+ Market Risk or Counterparty Risk experience in managing global complex book including multi asset derivatives exposures

+ Experience in and exposure to global market risk of CCR risk management standards.

+ Experience in derivatives market/credit risk management or of market risk managing non-recourse margin Loans and complex equity or credit derivatives

+ Ability to understand complex counterparty credit product structures, and ideally well-versed in capital markets products.

+ In depth understanding of portfolio CCR stress testing techniques

+ Good understanding of non-recourse and CCR pricing models and of CCR regulatory capital models


+ Demonstrates managerial maturity in looking out for the best interests of the enterprise including managing dual reporting lines

+ Proven ability to lead / integrate global organization

+ A strong mentor and coach one with the ability to rally followers and embed / empower leads for each of the core pillars

+ Highly skilled communicator who ensures key messages are cascaded throughout the organization


+ Strong presence / ability to liaise with internal heads of businesses and risk portfolio leads and manage multiple front-line demands

+ Navigates organizational complexity and breaks silos

+ Creates and sustains a network of strong partnerships with the business in all segments & geographies and other risk functions

+ Provides well-reasoned, balanced assessments of risk/return trade-offs associated with collateral liquidity and concentration and collateral and PDs correlations.

+ Proven track record of partnering with global peers in leveraging and implementation of best practices

+ Ongoing alignment with ICG ICM in order to deliver a portfolio risk management methodology across the different Citi busines lines.


+ 15+ years risk/risk-related credit work experience in banking/financial institutions

+ Senior market risk or CCR risk management experience

+ experience in managing credit contingent market risk and equity financing non-recourse books or in prime brokerage risk management in the 1st or 2nd Line of Defense

+ Proven ability to effectively engage with internal control functions including Internal Audit and Risk

+ Demonstrates strong ethics and integrity

+ Strong leadership. Dynamic, flexible, and with strong communication skills

+ Ability to see the big picture in a complex environment

+ Can make decisions under pressure and short timeline

+ Excellent verbal & written communication skills. Active listening skills.

+ Multi-cultural and bi-lingual, including the ability to speak multiple languages and experience in working in multiple geographies

+ Demonstrated influencing and negotiating ability, resolve conflicts amongst various constituencies

+ Excellent presentation skills adept at presenting effectively to audiences of various sizes and various constituencies


**Job Family Group:**

Private Client Product Services


**Job Family:**

IF Margin & Sec Backed Finance


**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.

Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review **Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm)** .

View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .

View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeo\_aa\_policy.pdf) .

View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp\_%20English\_formattedESQA508c.pdf)


Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.
Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.


Posted: 2022-05-13 Expires: 2022-06-12

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Private Bank - Americas Head of Counterparty Credit Portfolio Risk Management

New York, NY 10176

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast