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CGME Head of Market Risk Management, Director (M/F/D)
- Primary Location: Germany,Hessen,Frankfurt am Main
- Education: Bachelor's Degree
- Job Function: Risk Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 18066940
As a major international banking organisation, Citi manages its business activities across a number of important dimensions such as Product, Geography and Legal Vehicle (LV). CGME is now the main client facing EU investment firm (broker/dealer) entity for Citi in the European Union.
This position is therefore a critical role given the systemic importance of the new investment firm, heightened regulatory focus and importance of strong risk management to the broader entity strategy.
The successful candidate will directly support the creation of the Franchise’s framework for the management of market risk as well as their appropriate and accurate reflection in advanced regulatory capital requirement calculations. As such, the role will entail top-level exposure across all businesses operating on Citi’s new EU investment firm. The role will also have trade approval responsibility for large, complex or illiquid deals presented by Citi’s ICG Markets businesses, so requires a strong understanding of financial markets and financial instruments.
• The CGME Head of Market Risk Management will be responsible for the holistic oversight and management of market risk within CGME, ensuring that it is maintained within the risk appetite set by the Management Board and Risk Committee and that there are no un-identified or un-mitigated risks.
• The successful candidate has to ensure that CGME does monitor the market risk level appropriately as well as taken actions if needed of requested by the Management Board as well as regulators
• The CGME Head of Market Management will be responsible for ensuring that CGME complies with appropriate Citi policies and procedures, industry best market risk management practices, and regulatory requirements at all times.
• The role will also have deal approval responsibilities as the key second line legal vehicle market risk manager.
• Overall responsibility for holistic market risk management in CGME which does recognise the risk centralization strategy of market risk into risk hubs but also being responsibly in case CGME is the relevant product risk hub like for Public Listed Products (PLP)
• Working with product market risk managers responsible for individual trading desks using CGME as a booking and trading vehicle
• Interaction and escalation to product risk managers as well as senior management any kind of break, limits breaches or other issue from the market risk management perspective of CGME
• Review / approve large/complex/illiquid CGME legal vehicle market risk positions, risk limits, mandates and Permitted Product Lists. Escalate any issues, with appropriate suggested mitigations, to CGME and Regional management without delay.
• Oversee the quality and timeliness of market risk reports and commentary to the CGME Board, Risk other relevant Committees, Regulators and Senior Management
• Manage and lead the approval for New market risk Products for CGME working in close co-operation with senior business sponsors and regional risk chairs for NPAC, as well as product market risk managers
• Responsibility for assessing appropriate response to and delivering the market risk component of ICAAPs, Risk Appetite Statements, Stress Testing and other ad-hoc regulatory or legal entity governance projects drawing in appropriate regional/global Market Risk resources as required.
• Ensure an effective working relationship and lead risk dialogue with BaFin, European Central Bank, External Auditors and Internal Audit on market risk and liquidity risk matters pertaining to CGME while taking the lead for market risk management when talking to these stakeholders
• Work closely with Global Risk Management to ensure relevant CGME LV risk issues are being identified and addressed
• Support Risk Analytics management of the IMA (market risk) model for regulatory capital
• Ensure that relevant audits, inspections and reviews are managed successfully. Ensure that the tracking of corrective and completion of actions raised by internal and external audits are diligently performed
• Support the EMEA Market Risk Head and CGME CRO in LV risk matters as required
• Undertake critical projects and ad-hoc risk requests as they arise
• Presenting any kind of market risk topics to the management and supervisory board if needed and any other local or regional senior management committee
The successful candidate will directly support the creation of the franchise’s framework for the management of market risk as well as their appropriate and accurate reflection in advanced regulatory capital requirements calculations. As such, the role will entail top-level exposure across all businesses operating on Citi’s new EU investment firm.
• Significant interaction with senior management and regulators
• Significant scope for improving processes and practices
• Breadth of role will provide significant business and personal development opportunities
• Unique opportunity to be part of the inception of a new entity and business structure in a key strategic area for Citi
• Initiating short / long term business strategies overseeing recommendations through implementation
• Authority to command attention and enforce risk decisions in a relevant commercial manner but in a way which also meets Citi’s risk related policies
• Ability to impress regulators with command of risk role and to respond confidently and appropriately to their requests
• Up-to-date working knowledge of regulatory requirements and change, specifically those from Basel and European regulatory authorities (desirable)
• MaRisk implementation (desirable) or strong understanding of risk management principles.
• It is essential that the candidate has a proven ability to analyze and assimilate information for presentation to legal entity committees and senior management (internally and externally).
Skills and Competencies:
• Strong interpersonal and communications skills (written / verbal in German and English) at all organizational levels
• Excellent teamwork and project management skills
• Excellent planning and execution skills
• Ability to motivate team members
• Sufficient grasp of relevant detail, ability to delegate when appropriate and to question uncertainties
• Expresses complex or detailed issues simply so that others understand principals of risk issues despite complexity of models or volume of information
• Strong tenacity and resilience
• Extensive experience in market risk analysis and management
• Interaction with regulators and understanding of their requirements
• Stature and standing to readily partner with senior Trading, Business and Risk Management colleagues at a Regional and Global level
• Excellent academic background (Engineering / Classical Analytics / Business Studies / Economics) degree qualified
• Fluent in written and spoken English, German (desirable)
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer