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Wealth Management CCR Portfolio Risk Manager - VP

Job Req ID 22520820 Primary Location London, United Kingdom Job Category Private Client Product Services
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Description

The role sits within Global Wealth Management (GWM), a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It has been created by combining the Wealth Management businesses across Citi Global Consumer Bank and Citi Private Bank.  It serves over 500,000 clients through its global footprint in Asia, EMEA, Mexico, and North America.

GWM delivers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, banking and lending.  By building on the strengths and capabilities across Citi, we intend to transform the way we serve clients across the wealth spectrum, delivering the full range of high tech and high touch capabilities Citi can offer, and ultimately help them achieve their goals.

GWM propositions are delivered via tailored offerings across the Citigold, Citi Private Client, and Citi Private Bank brands.

Job Background/Context

The Global Margin Lending (GML) business of GWM provides financing to the whole wealth spectrum of clients ranging from the affluent up to the High Net Worth segment against liquid listed securities. In addition, GML provides a “utility service” to Global Wealth providing a first line of defense (1st LoD) credit analysis and approval function for all counterparty risk across GWM. This includes Global Margin Lending, Markets Direct Access (a joint venture with Citi Markets and Global Capital Markets within GWM)

The Portfolio Solutions Team is responsible for three aspects of Global Margin Lending: Loanable Value Methodology and Implementation, Portfolio Stress Testing, and Portfolio Management.  Portfolio Solutions works closely with our GML Lending teams to serve as a critical component of our First Line of Defense for Counterparty Credit Risk (CCR) management and will work with our Independent Risk partners to ensure best-in-class risk and controls, as well as client responsiveness. Key responsibilities of the team include:

  • Define and implement CCR portfolio risk metrics and analytics for the whole CGW;
  • Define and implement best in class stress testing and methodologies for the 1st LoD in CGW;
  • Define and implement a loanable value (LV) methodology for CGW based on collateral concentration and liquidity by standardizing the methodology across both Citi Consumer Bank (CCB) and Citi Private Bank (CPB);
  • Manage and sponsor CCR models for CGW and liaison with the relevant Risk teams for the Model Governance processes and procedures;
  • The scope of responsibilities and scale of this team will evolve over time to continue to meet our needs. 

Key responsibilities:

  • Support management monitoring and management of Counterparty Credit Risk including the development and automation of CGW risk management reports and associated controls;
  • Undertake portfolio risk reviews for internal stakeholders ensuring high quality and timely information is provided to enable proactive risk management;
  • Analyse the sources of counterparty risk in CGML portfolio, with particular focus on stress testing, collateral risk and volatility, concentration risks, liquidity and wrong way risk;
  • From a portfolio management perspective, ability to set-up and follow-up on actions that reduce process issues and integrity of the risk management data;
  • Respond to ad-hoc transaction requests in a timely manner, demonstrating a good understanding of trade-specific risks and risk measurements;
  • Proactively seek Client feedback to influence change throughout organization and assist project manager and work with business users to gather business requirements and draft and co-ordinate approval for Business Requirement Documents (BRD);
  • Assist with information requests from key Regulators, External Auditors and Internal Audit, including timely management of any remediation efforts or corrective action plans;
  • Reports directly to the EMEA Head of Portfolio Solutions.

Work experience and competencies:

  • Relevant professional experience, performing similar tasks in a Credit Risk or Counterparty Credit Risk management or reporting role;
  • Strong quantitative skills, particularly with respect to counterparty credit risk metrics and calculations;
  • Working knowledge of securities financing transactions and derivative products;
  • Excellent analytical background and skill set to understand complex processes, including system data flows;
  • Data analysis and problem solving skills;
  • Working knowledge of a programming language e.g. SAS, R, Python or SQL;
  • Tableau knowledge is desirable;
  • Strong communication skills;
  • Excellent people skills: ability to interact successfully with regulators, business partners and technology teams;
  • Good project management skills;
  • Excellent proficiency in Microsoft Office – particularly Excel (metrics and data analysis), PowerPoint (presentation decks), and Word (writing and editing procedural and technical documentation).

Education:

  • Post-graduate education in Economics, Finance, Financial Risk Management or other quantitative discipline preferred.

Valuing Diversity:


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.

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Job Family Group:

Private Client Product Services

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Job Family:

IF Margin & Sec Backed Finance

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Time Type:

Full time

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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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