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Citi is an American multinational investment bank and financial services corporation headquartered in New York City, NY.
(more about Citi)VP, PBWM Risk Quantification Regulatory Risk Officer - Hybrid
The Risk Quantification Group is a global utility within the PBWM Franchise Risk Organization. The purpose of this group is to coordinate stress testing exercises across all risk categories to identify and manage concentrations, oversee the implementation of an integrated and synchronized risk appetite limit framework, and drive standardization and governance of risk/return metrics for portfolio optimization.
The Regulatory Risk Officer is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family. The Regulatory Risk Officer reports into e into Head of Risk Appetite and Concentration limits & will collaborate with Treasury to provide PBWM a framework for Portfolio & Capital Optimization. This role will support the following areas:
- Analyze stress testing results across risk stripes to identify and manage concentrations, and/or pockets of highly vulnerable strategies and exposures; recommend limits.
- Manage risk appetite and concentration limits, escalate breaches and collaborate with businesses on remediation.
- Define approaches for quantifying risks, as identified in the material risk inventory
- Evaluate the trade-offs of risks for given segments (operational risk, liquidity risk, strategic risk, credit risk), and impacts to capital, to provide business leaders a holistic risk assessment of their respective portfolios, key products and segments.
- Investigate and quantify emerging risks and new correlations.
- Collaborate with Treasury to provide PBWM a framework for portfolio optimization, taking into account earnings volatility, growth potential, and balance sheet constraints.
- Identify ongoing risk opportunities to control RWA and manage capital.
The operationalization of these metrics is tied to Citi-level regulatory matters and Consent Order deliverables. This individual exhibits a passion for risk management and understands consumer and wealth management lending business profitability and measures for evaluating risk and reward trade-offs, and stress loss absorption. In addition to having very strong quantitative expertise, this role must have strong process and project management skills, with an eye towards sustainability and control.
Core Responsibilities for this role include:
- Responsible for communicating to executive management implications of existing and opposed regulation and developing potential responses.
- Provides risk strategic analytics and information management across Citibank products; facilitating data-quality and controls for other teams and managers.
- Provides regulatory risk project management support (business requirements, analysis and testing) for delivery of regulatory solutions. (i.e.. stress test and CCAR regulatory requirements, stress test-based limit monitoring and reporting etc.)
- Performs business analysis to respond to regulatory and business questions and provide portfolio insights.
- Performs data analysis to monitor and track data quality and completeness of data.
- Involvement in rationalization of EUCs (End User Computing) used for Portfolio Risk Reviews.
- Partners with Clients to understand and quickly respond to Client needs. Proactively seeks Client feedback to influence change throughout organization.
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Qualifications:
- 6-10 years experience in product program governance and risk management framework.
- Should have Excellent proficiency in Microsoft Office – particularly Excel (metrics and data analysis), PowerPoint (presentation decks), and Word (writing and editing procedural and technical documentation).
- Thorough knowledge of credit source systems, collateral reporting systems, and end reporting/ warehousing.
- Broad understanding of classifiable and delinquency managed credit and operational policies and procedures.
- Demonstrate financial and risk reporting knowledge as well as experience from the business and/or technical area desired.
- Project management knowledge and experience working with diverse group of stakeholders to achieve milestones and deadlines and capability to handle multiple projects at one time.
- Proven relationship management skills with ability to deepen relationships and build partnerships across the business, executive leadership and key functional support areas like Government Affairs, Communications, Legal, Compliance, Control, in-business Risk and Independent Risk.
- Good knowledge of Citi products, risk processes and controls with good understanding of regulatory requirements and risk management framework.
- Experience in compiling process and data quality metrics, analyzing results to clearly communicate data-driven analysis to senior management.
- Proficient in MS Office applications (Excel, Word, PowerPoint).
- Proficient in SAS is preferred
- Knowledge of Tableau is preferred
Education:
- Bachelor’s/University degree, Master’s degree preferred
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
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Job Family Group:
Risk Management-------------------------------------------------
Job Family:
Regulatory Risk------------------------------------------------------
Time Type:
Full time------------------------------------------------------
Primary Location:
New York New York United States------------------------------------------------------
Primary Location Salary Range:
$137,610.00 - $206,420.00------------------------------------------------------
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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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.