SVP, Wealth Management Residential Real Estate Risk Policy Senior Officer

Wealth Management focused on delivering the full capabilities of Citi to clients across all the Citi Private Bank, Wealth at Work, and Citigold and Citi Private Clients, through integrated platform serving clients across the wealth continuum, from the affluent to ultra-high net worth. Wealth Residential Real Estate (RRE) provides residential real estate secured lending products to target market clients in both the United States and international markets. The current Wealth Residential Real Estate lending portfolio amounts to US$90 Billion globally, and over $70 Billions in the US.

Wealth RRE is an independent Risk global organization within Wealth Risk Management. It provides independent risk oversight, challenge and approval for credit portfolio and broader risk-taking practices within the Wealth business, ensuring such activities remain within defined risk appetite and limits.

The Wealth Residential Real Estate (RRE) Risk Policy Senior Officer provides independent risk policy and portfolio management oversight for RRE lending, including reports and portfolio analysis thought the credit cycle. In addition, this role is responsible of the development and implementation of a comprehensive WM RRE Lending Policy, Control, Approval & Governance framework within the Retail Credit Risk Policy, standard and procedures.

Responsibilities:

• Monitor credit quality and the performance of new loans against approved benchmarks and risk appetite.  Where warranted, adjust credit policies and processes to ensure performance are within established risk appetite.
• Working in partnership with the Residential Real Estate (RRE) business units, participate in defining target market / business strategy and the performance and return metrics that comply with corporate standards as appropriate to the local operating environment.
• Provide independent Risk monitoring of key performance metrics, lagging and leading indicators, various ad-hoc analytics and work with reporting teams in the 1LOD and 2LOD teams to ensure transparency and alignment of information and direction.
• Proactively identify emerging risk issues and develop mitigation actions as appropriate.
• Provide risk oversight to the Residential Real Estate (RRE) business units to ensure appropriate credit product program governance, approval processes, loans quality control and assurance, portfolio monitoring, collection management and systems capabilities.
• Provide oversight to the relevant business and operation units to ensure that credit processes and staffing are appropriate, effective, and executed in full compliance with policies, both local and corporate.
• Provide support to Wealth Management Residential Real Estate Risk Lead for various Risk Management Committees. Actively participate in various risk and business forums.
• Support the Wealth Management Residential Real Estate Risk Head in regulatory and key stakeholders’ management.  Actively participate in various risk and business forums.  Maintain close transparent communication to ensure all stakeholders are fully apprised of the strategy, performance and events that could impact the portfolio.
• Maintain a strong control environment at all times; escalate critical issues in accordance with corporate protocols and/or based on prudent judgment.
• Lead and/or work on ad hoc Risk projects, Wealth Management data oversight, Policy Governance, Regulatory remediation relating to the Residential Real Estate portfolio.

Experience / Qualifications

• Extensive previous risk management experience (10+ years) in retail risk management with knowledge of residential real estate markets in the United States and regulatory management
• Experience in data management, advanced analytics, portfolio MIS using SAS or similar software system for data analysis and report writing.
• Experience in Residential Real Estate credit policies and processes.
• Experience in executing on global initiatives across multiple regions and countries. The ability to work with a diverse group of stakeholders to achieve milestones and meet deadlines
• Leadership, people and stakeholders management experience
• Effective written and verbal communication skills
• Proficient in MS Office applications (Excel, Word, Power Point)
• Desire experience in underwriting large ticket / complex Residential Real Estate financing transactions for high net worth and professional clients

Education

• Bachelor’s / University degree or equivalent qualification
• MBA or equivalent graduate studies is a plus

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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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