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Citi is an American multinational investment bank and financial services corporation headquartered in New York City, NY.
(more about Citi)PBWM Risk Quantification Regulatory Risk Senior Group Manager - 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 Sr Grp Manager is accountable for management of complex/critical/large professional disciplinary areas. Leads and directs a team of professionals. Requires a comprehensive understanding of multiple areas within a function and how they interact in order to achieve the objectives of the function. Applies in-depth understanding of the business impact of technical contributions. Strong commercial awareness is a necessity. Generally accountable for delivery of a full range of services to one or more businesses/ geographic regions. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication may be necessary. Accountable for the end results of an area. Exercises control over resources, policy formulation and planning. Primarily affects a sub-function. Involved in short- to medium-term planning of actions and resources for own area. Full management responsibility of a team or multiple teams, including management of people, budget and planning, to include performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval. The Regulatory Risk Group Manager reports into 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 build-out of these frameworks and metrics are tied to Citi-level regulatory matters and Consent Order deliverables. This individual exhibits a passion for risk management with experience in consumer and wealth management lending, coupled with being bold and curious to challenge risks, and anticipate those that may be emerging. In addition to having quantitative expertise, the manager must be an excellent communicator, with the ability to synthesize information across our regions and businesses and recommend actions that resonate with stakeholders.
Qualifications
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 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 providing risk strategic analytics, information management across Citibank products and reports to senior management. Responsible for communicating to executive management implications of existing and opposed regulation and developing potential responses.
- Regulatory risk project management ownership (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)
- In partnership with the Business regulatory teams, coordinate consumer-wide horizontal regulatory examinations to achieve full compliance; requires directing a cross-functional team. Sustain formal communication process with the regulatory agencies to provide transparency to the business through regular business updates and routines.
- Analyze new risk-related guidelines, best practice standards, rules and regulations. Provide updates, as needed, to management and regulators on exam and issue remediation status including progress against milestones, risk identified and any other potential impacts.
- Project Management of various deliverables for Portfolio Risk Review chapter. Involvement in rationalization of EUCs (End User Computing) used for Portfolio Risk Reviews.
- Significant interaction with a wide range of senior bank and risk management colleagues, as well as external stakeholders such as regulators / auditors.
- Initiates feedback session with Client to understand strength and focused areas. Leverages feedback to influence change throughout organization.
- Manage regulatory examinations to achieve full compliance. Develop and manage the strategy and messaging for regulatory interactions to ensure transparency of performance, management and compliance of the business.
- Execute strategy to mitigate external risks or requests raised through Government Affairs or Community Affairs. Implement consistent and comprehensive management oversight processes.
- Identifies and sponsors the development opportunities for key individuals that help them gain broad exposure and experience. Influence organization initiatives to develop talent, knowledge and refine skills of organization. Modeling positive reward and recognition behavior consistently. Influences or leads efforts (e.g. succession planning, project assignments) that support organization and employee development. Recruits top talent, and commits to developing. Ensures diverse talent pipeline at all levels.
- 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, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Qualifications
- 15+ 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, including a command of the collateral management process.
- Ability to interpret financial and risk reporting as well as experience from the business and/or technical area desired.
- Familiarity with regulatory landscape facing global banks. Ideally, have worked in banking industry or regulators institutions.
- Previous experience in managing Regulatory Inspections and Audits within a financial services company.
- Professional ability and presence to interact with Senior Bank, Regulatory and Audit Management.
- Extensive project management experience with the proven ability to develop project plans and drive a diverse group of stakeholders to achieve milestones and deadlines.
- Experience with issues resolution including root cause analysis, mitigation plans, and remediation activities.
- Familiarity with iCaps and any other existing databases used across businesses for tracking/monitoring issues.
- Expert knowledge of Citi products, risk processes and controls with good understanding of regulatory requirements and risk management
- Demonstrated proficiency in Microsoft Office applications; familiarity with SAS/SQL, Tableau etc. tools; good knowledge of various data warehouse, PEARL etc.
Leadership Competencies:
- Strong communication skills - can present credibly to both large and small groups including senior management, key stakeholders and partners
- Strong interpersonal skills and ability to influence at all levels of management - ability to inspire trust, influence others, promote collaboration and motivate others
- Displays flexibility to work well with people with diverse background. Take personal responsibility to lead by example. Demonstrate strong ethics
- Develop strong relationships across risk management and cross-functionally
- Contribute to a positive work environment; share knowledge and support diversity; remain calm and optimistic under pressure
Education:
- Bachelor’s/University degree, Master’s degree preferred
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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:
$170,000.00 - $300,000.00------------------------------------------------------
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.