VP Real Estate Stress Testing Officer (Hybrid)

The Real Estate Risk Officer is a strategic professional who manages governance related activities for the Wholesale Credit Risk - Real Estate. Real Estate is responsible for overseeing risks taken in connection with real estate activities which includes extensions of credit that are secured by liens on or interests in real estate, direct and indirect private equity and public market real estate investments, capital markets, construction lending, servicing, any consumer or commercial loan undertaken when real estate security or real estate activity, or an asset sale, or a refinancing is contemplated as a first or second way out.  Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas including internal/external audit and regulators. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.

The Group Manager applies in-depth disciplinary knowledge, contributing to the development of new techniques and the improvement of processes and work-flow for the area or function. Integrates subject matter and industry expertise within a defined area. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the function and overall business. Evaluates complex and variable issues with substantial potential impact, where development of an approach/taking of an action involves weighing various alternatives and balancing potentially conflicting situations using multiple sources of information.

Comprehensive Capital Analysis Review (CCAR) is a semi-annual US Federal Reserve regulatory submission. It is used to ensure that institutions have robust, forward-looking capital planning processes that account for their unique risks and sufficient capital to continue operations throughout times of economic and financial stress. As part of CCAR, the Federal Reserve evaluates institutions' capital adequacy, internal capital adequacy assessment processes, and their plans to make capital distributions, such as dividend payments or stock repurchases. CCAR includes a supervisory stress test to support the Federal Reserve's analysis of the adequacy of the firms' capital. Boards of directors of the institutions are required each year to review and approve capital plans before submitting them to the Federal Reserve.

The Real Estate Risk Group Manager will join a team focused on implementing reporting analytics and technology associated with the potential projected stress losses for our quarterly CCAR capital planning and review processes. The roles primary responsibility will be to analyze, review and support the process of generating stress results, leveraging the firms’ internal models, and the ongoing analysis of those results for accuracy and reporting.  This also includes the review of input data and the consolidation of multiple model outputs into various presentations for management consumption and consolidation. The Vice President will also work closely with Technology and Model Risk Management to develop new and automated solutions to streamline and better analyze reported results.

Responsibilities:

• Understand the exposure and portfolio characteristics of the Real Estate portfolio to identify key underlying risk drivers, including internal drivers across the various portfolios (e.g. Citi Community Capital, Corporate Loan Portfolio, Global Spread Products, etc.), as well as external drivers across the industry.
• Project management for complex initiatives across the Real Estate Risk organization including defining scope, initial planning, dependency identification/management, risk/issue management, implementation execution and executive status reporting
• Analyze macroeconomic variables and understand the impact to financial projections.
• Performing creditable review and challenge for Citigroup Real Estate CCAR workstream across methodology, results, governance, and processes.
• Ensure that Real Estate CCAR submission has documented and well vetted and agreed upon controls
• Enable continuous improvement by partnering with Workstream leads and senior stakeholders to proactively design solutions for identified weaknesses or gaps in compensating controls.
• Ensure data integrity, accuracy and timeliness in all financial reporting and presentations.
• Operate under tight timelines to comply with internal and regulatory prescribed deadlines.

• Prepare regular and time-sensitive analytics, visualizations and reports to the risk managers, senior management with close collaboration with risk managers/subject matter experts.
• Leverages technical expertise to execute quantitative analyses that translates into actionable insights for management.
• Drive process improvements opportunities and capabilities to increase consistency, transparency, and reliability of stress testing results.
• Partner with Technology to design strategies for an automated solution to ensure complete, correct, and timely reporting
• Has the ability to operate with a limited level of direct supervision.
• Can exercise independence of judgement and autonomy.
• Acts as SME to senior stakeholders and /or other team members
• 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.

Qualifications:

• 6+ years previous risk experience required
• Knowledge of mortgage bankers, REITs, securitizations, warehouse financing and capital markets required
• Excellent attention to detail. Willingness to learn new products. Possess complex and diverse knowledge of financial services. Comprehensive understanding of applicable industry regulations and standards
• Candidate should possess proficient analytical skills and an ability to communicate reviews and reports both in writing and in oral presentations
• Analytical and quantitative skills with ability to perform credit analysis
• Proficiency in Excel, PowerPoint, Word as well as database management experience
• Tableau experience preferred
• Excellent attention to detail and willingness to learn new products
• Comprehensive understanding of applicable industry regulations and standards

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In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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