UK Cluster & Legal Entity Head

The ICM UK Cluster Head and ICM Legal Entity Head is a Managing Director level role and must be located in the UK and employed by Citi UK.  The role requires subject matter expertise of wholesale credit and counterparty credit, as well as a broad and comprehensive understanding of the different systems, controls, quality assurance, and practices relevant to wholesale credit.  Requires thorough understanding of the UK legal entities risk profile, combined with a solid conceptual/practical grounding in wholesale credit risk management. The role requires ability to engage with regulators and the individual will represent ICM in front of UK regulators. 

The role requires close liaison with various other business areas and functions (including wider ICM teams, first and second line teams, Business Managers, Control teams, Finance, Compliance, Risk as well as partner areas such as Operations and Technology) to ensure timely escalation and remediation of issues. 

The role will report into the ICM Global Head of Financial Institutions & Counterparty Credit UW and Portfolio Management. For the other ICM pillars, the individual will establish a delegation framework.  

UK Cluster Responsibilities:

• UK Cluster Leadership:
  • Accountable owner of ICM’s activities for the material UK Legal entities supported by an effective delegation/support framework as required
  • Responsible for ICM to take very active role in the execution of the wholesale process in the UK. Ensures that UK vehicles meet the UK Regulatory framework, in coordination and leveraging as much as possible the concepts and processes developed for Citi as a whole
  • Coordinates with ICM pillars to ensure a sound delivery for the UK legal vehicles across the ERMF - Risk ID, risk appetite setting, regulatory and other stress testing, monitoring and overall management of all credit risk including CCR in the 1LOD
  • Thought leadership for WCR related matters with proactive engagement with the Business and UK CRO and wider WCR
• Governance: The ICM UK cluster head will attend key UK cluster governance forums, including Board as appropriate, and escalate through LE governance forums, operating as a peer to other product and function representatives.
• Influence & Support: The UK cluster head is required to:
  • Key responsibility of leading engagement with UK regulators on ICM related requests and initiatives (including  Inspections, reviews and ad hoc requests)
  • Represent the UK ICM franchise throughout Citi both globally and regionally
  • Influence key stakeholders to take active oversight and execution where needed of the relevant UK LE activities and complex regulatory projects within the ICM organization and the Legal Entity.
  • Lead in the implementation of new Regulations, and regulatory remediation related to UK entities.
  • Support lines of business (presenting the portfolio reviews and results of risk appetite monitoring) and being the lead contact for UK legal entity related audits
• Human Capital Management: Leads the UK ICM people strategy, working closely with HR and ICM Group Heads in all the relevant processes.
• Active engagement with the UK team in achieving their goals & initiatives when required to achieve business objectives

Functional responsibilities:

• In addition to the UK Cluster responsibilities the individual will be responsible for Citi’s overall legal entity risk management framework, focusing on Tier 1 and Tier 2 Legal entities, working with the various 2nd line CROs and ICM functional heads, and take the lead where needed to ensure appropriate consistency with Citi’s overall approach and strategy.
  • Engagements in ICAAPs across legal entities. This includes overseeing ICM’s involvement such as risk identification, interpretation of results, as well as the relevant governance meetings
  • Representing ICM portfolio management and analytics for purposes of LE risk management. This includes overseeing ICM’s support of BAU stress testing for LEs as well as wrong way risk
  • Lead the Early Warning process at the Legal entity level, leading with ICM PM, ICM Cluster Heads and LE 2LoD, establishing a process and metrics for the respective LE.
  • Lead engagement with ICM Product Development to digitize and automate the LE requirements into the Helios WCR platform, including limit management, LE approvals and credit due diligence. Capture requirements and deliver BRDs to the Product Development team.
  • SME to review and approve changes to Citi’s Legal Entity risk management policy (as required), ensuring requirements are appropriate (risk based) and allow for streamlined implementation.    
• Represent ICM in the global New Activity Committee process, reviewing new activity requests, coordinate assessment with other ICM groups and providing challenge and approval as needed.

Qualifications:

• Experienced executive with extensive management experience
• Credit qualified to Senior Credit Officer level
• Experience in Counterparty credit is preferred
• Proven ability to manage regulatory interactions (UK regulator preferred).
• Experience in managing teams both directly and matrix
• Excellent problem-solving skills- ability to see the big picture with high attention to critical details
• Ability to operate with a limited level of direct supervision
• Can exercise independence of judgment
• Excellent written and verbal communication skills
• Interpersonal skills with the ability to influence others and work collaboratively with people at all levels of the organization and across different geographic locations
• A proactive and “no surprises” approach in communicating issues
• Range of experience demonstrating flexibility in skillset and approach

Education:

• Bachelor's/University degree

Regulatory Categorisations:

• This role could be the UK SMR under the PRA regulations and may responsible for delegated activities

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