Other Location: United States,New York,New York; United Kingdom,England,London; United States,Texas,Irving
Education: Bachelor's Degree
Job Function: Risk Management
Shift: Day Job
Employee Status: Regular
Travel Time: Yes, 10 % of the Time
Job ID: 19034700
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. 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 Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
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.
To provide guidance/approvals to maintain consistency of decision making across the portfolio and to ensure that global public sector risks are properly identified dimensioned and mitigated. The Public Sector industry establishes a common foundation for the business and is involved in, for example, the coherency of Public Sector Disaggregation Test (PSDT) status, Balance Sheet Liquidity Management (BSLM) limits, risk ratings, articulation of risks within approval documents and co-ordination with other business and risk areas e.g. cross border country risk, market/treasury risk, Portfolio Management Group etc. Key Responsibilities: In conjunction with the Public Sector Portfolio Head, manage credit process across the portfolio
Drive a redesign of public sector and country risk management processes to improve efficiency and reduce overlap, including aligning government Credit Approval (CA) and country Scenario Plan processes and coordinating sovereign classification, ratings, and country watchlist decisions
Strengthen the strategic partnership across Citi (Corporate and Market Treasury, Finance, Market Risk and Treasury Risk Management), in order to update the BSLM process. Specific focus on Risk being more involved in the forecasting process, identification of discretionary and non- discretionary credit limits, returns and a more efficient approval and monitoring process
Maintain Public Sector Risk management policies
Approve government CAs with exposure above a threshold
Ensure proposed products/tenors/structures are appropriate for public sector entities. Approve complex transactions involving the public sector.
Establish public sector concentration limits, and manage breaches
Approve public sector exposure arising from Export Agency Financing transactions
Enhance the partnership with business seniors; institute periodic reviews, portfolio evolution, transaction approvals, pipeline management, product risk and documentation standards etc.
Work in parallel with Citi's ICG bankers and product specialists to ensure well-informed decisions through an understanding of the credit, structure and profitability features of each relationship
Given the potential impact of Corporate/Markets Treasury as well as Treasury and Trade Solutions (TTS) initiatives on Public Sector exposures, engage with partners and develop appropriate dialogue / modus operandi allowing to address risk issues
Establish disciplined way of capturing, coordinating and utilizing for effective risk management the Public Sector risk insights of seniors in the field, such as Citi Country Officers (CCOs)
Engage in efforts and initiatives aiming to streamline/ redesign engagement and partnership between different stakeholders /credit approval processes across the portfolio, while not loosening up credit standards, efficiently utilizing Risk Management Unit resources dedicated to Public Sector
Provide input as required to other Citi Risk teams and work closely with ICG Risk's teams to ensure both regional and industry perspectives are considered in approving and monitoring portfolio risk
Focus on key risks / strategic risk management
Identify/manage 'top risks' and agree related action plans; focus countries, exposure strategies, limits
Further develop and institutionalize a Risk Appetite/Benchmarking framework based on risk capital, liquidity and returns, to gauge over concentrations and 'overleveraged' exposures
Lead consolidated Public Sector focused stress testing exercises
Participate in regulatory reviews and develop relationships with the principal regulators
Partner with Global Portfolio Optimization and Credit Value Adjustment (CVA) Risk to ensure appropriate use of risk mitigation tools available in today's markets
Policy, Process and Portfolio management
Develop/enhance an insightful Portfolio Management / Reporting Framework; establish a standardized Portfolio Review process
Agree with FIRM, Regional Credit and other impacted control units the reporting / risk management of new Public Sector exposures created by government support / nationalization of troubled Financial Institutions / companies; formalize roles and responsibilities.
Continuously monitor and keep up-to-date sections of the policy pertaining to Public Sector, participating in discussions that relate to policies relevant to both aggregated and disaggregated Government Related Entities
Qualifications and competencies:
SCO Level 1 authority (or potential to become in short order)
15+ years of relevant experience
Knowledge of and sensitivity to operational and franchise risks
Deep understanding of capital markets products, complex structures, trade and transaction services
Operates as a leader, with an understanding and appreciation for diverse backgrounds
Proven ability to manage the matrix and drive consensus. Also serves as a point of escalation for key issues or time-sensitive decisions
Acts decisively in high risk scenarios, assessing a situation based on available data, experience and judgment.
Thorough understanding of the management of credit and market risk, as well as experience in client or product management
Demonstrates strong ethics
In-depth knowledge of applicable laws and regulations and the current environment which govern our policies and practices
Regularly communicates and ensures key messages are cascaded throughout the organization
Provides well-reasoned, balanced assessments of risk/return trade-offs associated with transactions and client relationships
Partner with Legal, Regulatory and Compliance teams to ensure well managed control environment
Maintains excellent working relationships with Internal Audit, Fundamental Credit and with Regulators
Applies and complies with all applicable internal and external policies
Excellent verbal and written communication skills
Strong influencing and negotiating ability
Has continuous improvement mind-set focused on operational efficiency and productivity Education:
Bachelor's degree/University degree or equivalent experience
Master's degree preferred
Internal Number: 6076925
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