Job Background/Context
Institutional Credit Management (ICM) is a critical component of Citi’s First Line of defense for wholesale and counterparty credit risk (CCR) management. ICM works with Independent Risk teams to ensure best-in-class risk and controls, and client responsiveness. Key responsibilities of the group include credit analysis, documentation, risk identification, exposure monitoring and stress testing. ICM coordinates with credit management groups across Markets as well as Banking to ensure full alignment on business and regulatory goals, as well as consistency and best practices.
Within ICM Counterparty Credit Risk (CCR), ICM Funds Underwriting is a global team responsible for measuring, monitoring and controlling counterparty risk for Funds, covering Asset Management Companies, Investment Advisors as Agent, and Pension Funds.
We are seeking an experienced professional to underwrite CCR risk for some of our largest Real Money Funds clients as a Credit Officer. This is a First Line of Defense risk management role, with plenty of opportunities to work with front office and independent risk partners as well as to interact with clients.
Key Responsibilities:
1. Maintain and manage credit exposures to Real Money Funds clients including asset managers, investment advisor as agents, and pension funds, arisen from derivatives, financing and direct lending products
2. Approve credit reviews as a first line of defense underwriter (Credit Officer CO designation) including assessment of portfolio risk, liquidity of client positions, credit limits and risk appetite ratios
3. Review and approve new Funds clients at on-boarding to establish appropriate risk parameters and credit limits
4. Advise and approve large transactions or deals that require individual risk assessment
5. Analyze and monitor client portfolios to ensure that risks are controlled - primarily credit risk arising from market sensitive exposure and liquidity risk
6. Work with Risk colleagues on risk mitigation at both inception of transactions and on an ongoing basis
7. Partner with businesses and quantitative teams on risk measurement enhancements, margin model development, new product approvals and real-time monitoring and controls
8. Perform daily and weekly risk analysis and reporting on existing client portfolios as well as customized risk analysis on new client portfolios
9. Communicate key findings to senior management and contribute to in-business risk forums as appropriate.
10. Put together presentations and documents for internal and external use on various topics including describing the functions of the Risk Group, stress methodologies, and summarizing risk issues.
11. Conduct periodic review of the control environment, vetting of new systems, processes, policies and procedures associated and related to market and/or credit risk and ensuring they are in sync with market practices
12. Utilize risk management tools for the measurement, monitoring and management of exposure and participate in project management of strategic risk infrastructure development.
Education
13. Bachelor’s/Master's degree in mathematics, science, finance/economics, risk management or a related field required
14. An MBA, CPA, or CFA preferred and formal Credit Training is a plus
Knowledge/Experience:
15. A minimum of 5 - 7 years credit risk experience at a major financial institution
16. Experience with managing credit risk with training in finance, mathematics, risk management or quantitative fields
17. Relevant credit experience covering Real Money Funds, Asset Managers, Hedge Funds, or Financial Institutions with markets products knowledge
18. Knowledge of Funds’ markets products and risk metrics
19. Credit Officer (CO) or demonstrating the skills aligned with that designation
Competencies:
20. Experience and familiarity with Real Money Funds, Asset Managers, Pension Funds – Industry products and relevant CCR risk measures
21. Strong analytical skills
22. Strong problem solving abilities
23. Sound risk and business judgment
24. Excellent written and oral communication skills
25. Ability to work well with cross-functional teams from Business, Credit, Operations and Compliance
26. Ability to work independently as well as in a team environment
Skills:
27. Credit review and analysis techniques, ability to proactively identify and remediate risk issues
28. Strong understanding of portfolio risk and its impacts on counterparty credit risk, across multiples asset classes including rates, equities, foreign exchange, credit and commodities
29. Stress testing techniques, instrument modelling skills desirable
30. Ability to think from first principle and challenge assumptions
31. Strong analytical skills with good attention to details and a demonstrated aptitude for tackling analytical issues through quantitative modelling and assimilation of data into a working product
32. Strong Excel skills ideally incorporating VBA (Visual Basic for Applications), programming skills in Python is a plus
Development Values:
33. Risk management role in the First Line of Defense, with plenty of opportunities to work with front office and independent risk partners as well as to interact with clients
34. Learn about risk management and financing products broadly as mandate covers wide variety of Markets and Banking products
35. Influence the strategic direction of the Bank from a risk management perspective
36. Build solid market/credit Risk experience as we use cutting-edge risk models and techniques
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Job Family Group:
Risk Management
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Job Family:
Portfolio Credit Risk Management
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Time Type:
Full time
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Most Relevant Skills
Analytical Thinking, Constructive Debate, Escalation Management, Industry Knowledge, Policy and Procedure, Policy and Regulation, Process Execution, Product Knowledge, Risk Controls and Monitors, Risk Identification and Assessment.
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Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.
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