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Risk - Counterparty Credit Risk Analyst - VP

Locations: Frankfurt am Main, Hesse Job Function: Risk Management Employee Status: Regular Job ID: 20177432

As part of the implementation of Citi’s transformation of CGME into an investment firm in Germany and as part of Citi’s Brexit strategy, a new role is required to strengthen the Counterparty Credit Risk function and team in Frankfurt.

The role will involve close collaboration with Financial Institutions Risk Management (FIRM) and various other functions within and outside of EMEA. Focus will be on the implementation and management of a regulatory-compliant and robust counterparty credit risk framework for the entity and meeting the needs of local regulators and CGME’s Board. Among other things, the successful candidate will be responsible for monitoring, reporting and escalating counterparty credit-related risks to internal and external stakeholders.

Job Background/context:

In relation to Brexit, Citi's goal is to ensure continuous and consistent service for our UK and EU clients, while retaining safety and soundness and limiting the impact to our business. Whilst Citi continues to operate in the UK market, we are also developing a new solution to meet the needs of EU-based customers. Accordingly, Citi has established the HQ of a new EU investment firm (broker-dealer) in Frankfurt, leveraging its existing infrastructure, people, and expertise there, as well as continuing to recruit new talent in Germany.

FIRM is responsible for the management of counterparty credit risk exposures. This position will be housed within FIRM with the focus on key risk areas for this entity and will work closely with the global and regional team on developing and implementing this framework.

The successful candidate will directly support the execution of the Franchise’s framework for the management of counterparty credit risk as well as their appropriate and accurate reflection in advanced regulatory capital requirement calculations. 

The role will report to the Head of Counterparty Credit Risk at CGME.

Key Responsibilities:

  • Support CGME’s Counterparty Credit Risk Head and team
  • Implement and manage the expansion of CGME’s counterparty credit risk framework while leveraging analytically existing frameworks and best practises within Citi which need to be built out in a novel and complex and continually changing regulatory environment.
  • Respond to information requests from regulators and the CGME board with respect to counterparty credit risk related topics.
  • Analyse and recommend approvals for, monitor and manage group intercompany exposures for the entity and develop knowledge of how the counterparty credit risk function integrates within the FIRM organisation
  • Delivery of risk reports / analytical commentary to the Management and Supervisory Board, Risk and other relevant Committees along with Regulators and Senior Management.
  • Support in providing input into components of ICAAP, Risk Appetite Statement, Pillar III Credit Disclosures and other ad-hoc regulatory or legal entity governance projects relating to Credit Risk topics.
  • Establish and document policies and procedures consistent with global Citi and regulatory requirements and to demonstrate sound risk practises.  Track and implement global policies relevant to CGME.
  • Justify approach, methodology and execution of risk framework to internal and external stakeholders (e.g. senior management, internal & external audit etc.)
  • Assist in developing and applying hedging and other risk management techniques across the portfolio 
  • Work with other functions to deliver on projects and reports that are relevant to CGME
  • Monitor CGME’s counterparty credit facilities, exposure, industry, product and macro-economic developments and assess the impact on portfolio
  • Support the counterparty credit risk model areas with input
  • Extract, manipulate larger data sets for coherent reporting and presenting to senior management 
  • Undertake critical projects and ad-hoc risk requests as they arise
  • Work closely with the regional and global FIRM EMEA Team and the risk teams of other Citi legal vehicles.

Building on your analytical and technical background, we expect you to drive projects and assignments of high complexity with various stakeholders within Citi. This is a hands-on role, suited for an experienced professional who can combine technical expertise with a broader skillset of managing stakeholders and pushing an agenda forward

Development Value:

The successful candidate will directly support the buildout of the franchise’s framework for the management of counterparty credit risk as well as their appropriate and accurate reflection in advanced regulatory capital requirements calculations. As such, the role will entail exposure across businesses and functions operating on Citi’s new EU investment firm.

  • Significant interaction with management and exposure to local and regional stakeholders
  • 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

Opportunities available to take on additional responsibilities over time.

Knowledge/Experience:

  • Background in counterparty credit risk management or financial services (e.g. asset management, markets, securities trading, banking, transaction structuring etc.)  
  • Knowledge of broker dealer trading and clearing products a plus
  • Strong grasp of current technologies including stress testing is highly beneficial
  • Advanced working knowledge of Microsoft Excel, PowerPoint, Word
  • Up-to-date working knowledge of regulatory requirements and change, specifically those from Basel and European regulatory authorities (desirable)
  • 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

  • In-depth understanding of Citi’s internal models and risk management practices
  • Understanding of key regulations affecting Citi’s use of counterparty credit internal models
  • Ability to identify complex business issues ensuring proper analysis / interpretation of issues
  • Strong local and remote people management skills, partnering and influencing skills.
  • Significant scope for improving processes and practices
  • Strong communication skills and exceptionally good at stakeholder management at all levels
  • Excellent organizational and project management skills
  • Strong analytical skills & ability to solve problems
  • Excellent interpersonal skills necessary to deal with colleagues at all levels across the firm
  • Track record of success in delivering high quality work in a fast paced and dynamic environment
  • Ability to lead projects and assignments of high complexity within Citi
  • Deep technical expertise with the ability to combine a broader skillset of managing

Qualifications:

  • 5-7 years or relevant work experience
  • Excellent academic background (Engineering / Classical Analytics / Business Studies / Economics) degree qualified
  • Fluent in written and spoken English, German (preferred)
  • MaRisk, CRR, EBA Guidelines (desirable) or strong understanding of risk management principles.

Competencies:

  • English and German fluency (written and spoken)
  • Integrity, maturity, dependability
  • Ambitious and hard working
  • Willing to learn
  • Be a team player and get along well with different personality types, potentially across dual location
  • Positive and pro-active professional attitude
  • Ability to manage multiple demands
  • Self-driven and finds it natural to take initiative and set the agenda
  • Demonstrates appreciation for diverse workforce, and uses these differences to make better decisions
  • Leads by example as a strong role model
  • Promotes diversity of thought, background and experience
  • Maintains business focus – understands client needs and drives customer satisfaction
  • Entrepreneurial, in a corporate / globally regulated bank context
  • Holds self and other accountable for results.

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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Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - DE

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