Director, Scenario Design Lead - C15 (Hybrid)

The person will lead a ~4-member team tasked with designing macroeconomic scenarios used for various corporate purposes—CCAR, internal stress testing, financial planning, loan loss reserves (CECL).

The role reports to the head of Enterprise Scenario Design. which is part of Enterprise Risk Management (ERM).

Individuals in the Enterprise Risk Management are entrusted with managing the diverse and collective impact of the bank's risks. This involves identifying and managing enterprise-level and cross-cutting risks, designing scenarios for stress tests, managing climate risk, and safeguarding against reputational risk. This role is integral to the overarching objectives of the bank, as it ensures the bank's operations are within defined risk appetite and helps maintain financial stability. The role provides a comprehensive view of risk management, enabling the bank to anticipate, assess, and mitigate potential risks, crucial for the bank's sustained growth and success.

Responsibilities: 

• Scenario Design: Design, maintain, and update scenarios for various use cases; design entails writing narratives, calibrating the forecasts for primary shock drivers, and reviewing and overlaying the model output for key variables.

• Guidelines and procedures: Develop, enhance, and maintain guidelines for scenario design.

• Engagement and communication: scenarios are critical inputs to the firm’s risk management and financial and capital planning. The head of the team will engage on regular basis with stakeholders.

• Conduct complex stress testing and loss forecasting scenarios, analyze potential impact, and make strategic recommendations to senior management based on estimated losses.
• Contribute to stress testing consent order remediation and management of other regulatory issues.
• Monitor and report on all risk categories, including predicted losses, to relevant Committees/Boards in a timely manner. Continually review and challenge the accuracy of these reports.
• Maintain regular interaction with bank and risk management colleagues as well as external stakeholders such as regulators and auditors. Facilitate clear communication about risk management, stress testing, and loss forecasting.
• Provide training for junior team members in risk identification, stress testing, and loss forecasting procedures. Stay updated on industry trends, regulatory changes, and best practices.

• Inspires people with a compelling and aspirational future vision; demonstrates optimism when leading the organization through challenges and uncertainty.
• Creates a highly resilient organization in which people persist through challenges, transparently communicate and own mistakes, and actively apply learnings to make Citi better.
• Establishes a safe environment where people candidly communicate opinions, seek diverse opinions, and actively debate decisions.
• Fosters a culture that rewards teams to pursue breakthrough ideas and improve business results; proactively invests resources in innovation initiatives.
• Creates a culture that strongly encourages teams to prioritize enterprise success over individual agendas and do the right thing for the organization.
• Boldly creates focus by aligning critical priorities across businesses, functions, and regions; eliminates nonessential work that could distract the organization from executing key priorities.
• Champions innovative ways to manage risk through streamlining processes and building common methods.
• Creates and reinforces a culture of exceptional controls that support client satisfaction and operational effectiveness.
• Proactively solves systemic enterprise challenges by investing time and resources to gather cross-enterprise data; builds sustainable solutions that fully address the root causes of issues.
• Creates a performance culture of high expectations that inspires people to continuously deliver excellence and exceed company goals.
• Energizes and reinforces an ethical environment where doing the right thing for clients and Citi is expected in every decision and action.
• Establishes a culture where teams actively cultivate collaborative partnerships across organizational boundaries; creates synergies that deliver added value for Citi.
• Champions strategies for leveraging Citi’s resources to have a positive impact on society; demonstrates deep understanding of client and community needs.
• Proactively implements systemic solutions to promote the well-being and engagement of all employees; embodies work-life balance through their words and actions and actively encourages others to do the same.
• Leads efforts to position Citi as an attractive place to work for diverse communities; cultivates an inclusive culture in which all individuals are valued and feel a strong sense of belonging.
• Leads with compassion and reinforces a culture in which people assume best intentions of others; treats others respectfully; listens, understands, and appreciates the unique challenges faced by others.

• 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, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards

Qualifications: 

• 15+ years of experience, including 8-10+ years' managerial experience
• 10+ years of experience in macroeconomic analysis or forecasting or scenario design. Experience with managing a global forecasting process is greatly valued
• Experience in building and managing teams
• Excellent verbal and written communication skills
• Extensive understanding of the Global regulatory landscape with the ability to apply this knowledge in a practical context, overseeing, reviewing, and challenging compliance efforts.
• Experience providing oversight and managing complex projects or processes, successfully challenging, and improving outcomes.
• Previous experience managing regulatory inspections and audits within a financial services company, with the ability to oversee, review, and challenge these processes.
• Extensive project management experience, driving diverse groups of stakeholders to meet project milestones and deadlines, overseeing, reviewing, and challenging progress.
• Strong commercial awareness and expert knowledge in the field of risk management, enabling effective oversight, review, and challenge of risk strategies.
• Broad knowledge of a range of risk categories, including Financial and Non-Financial risks, providing a solid foundation for the oversight, review, and challenge of risk management strategies.
• Comprehensive understanding of credit and operational policies and procedures, including collateral management processes, with the ability to oversee, review, and challenge these procedures for compliance and effectiveness.
• Proven experience in a compliance, audit, or similar control or governance role within a banking or financial institution, offering a solid platform for the oversight, review, and challenge of governance strategies and compliance.
• Excellent communication skills for effective negotiation, able to oversee, review, and challenge both internal and external communications.
• Ability to interpret complex financial and risk reporting and leverage experience for informed decision-making.
• Proficiency in Microsoft Office, especially in Excel for data analysis, PowerPoint for presentations, and Word for document creation.
• Exceptional organizational skills to manage multiple tasks effectively in a high-volume and complex environment.
• Strong leadership skills, driving a team towards common goals and motivating individuals effectively.
• Strong networking skills for effective negotiation and relationship building, both internally and externally.
• High adaptability to respond to changes in the business environment and industry trends.
• Ability to work in a fast-paced environment, managing multiple projects and stakeholders simultaneously.

Education: 

• Graduate level training in Economics (Ph.D. preferred) with practical experience of mainstream econometric methods used in macroeconomic forecasting

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