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Risk - Special Assets Senior for NAM - C16

Job Req ID 22561086 Location(s) New York, New York Job Category Risk Management
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Special Assets is a dedicated restructuring and remedial team in Wholesale Credit Risk with Approving Unit responsibility for the Classified portfolio. The Special Assets team co-manages or direct-manages credit exposure with adverse regulatory classifications facing various stages of stress or distress and a heightened probability of default. The primary objective of the team is to provide strategic leadership to maximize the recovery value of the portfolio, while managing and balancing the interests of internal and external stakeholders. The team is also responsible for accurate regulatory classifications, risk ratings, cost of credit and exposure carrying values.

Special Assets is part of the second line of defense within Independent Risk. The role requires an extensive understanding of credit and counterparty risk across multiple disciplines and a full understanding of how Citi’s credit policies, processes, and procedures should be applied to remedial situations.

Special Assets performs an initial assessment on Criticized exposures when a credit begins to experience deterioration at the Special Mention classification stage. This assessment is a diagnostic analysis of credit and/or counterparty weakness and involves setting indicators via triggers to closely monitor future developments and direct actions.  The Senior Transactor hasoverall responsibility for the content and approval of these assessments.

Special Assets has approval responsibility for the Classified portfolio. The team is responsible for setting the account strategy, exposure strategy and providing continual and proactive management as a situation evolves. For active workouts and restructurings, the Senior Transactor will provide leadership to Special Assets Transactors to facilitate the day-to-day execution of the remedial strategy. The Senior Transactor will also partner with internal and external clients and advisors to develop and execute solutions, operating as a proactive and vocal leader for the Risk organization. 

We are seeking a dynamic and experienced senior credit professional to join North American (NAM) Special Assets team as a Senior Transactor. The individual should possess excellent technical, as well as interpersonal, attributes and preferably deep experience in handling remedial situations. Coaching and developing the team for the future are critical aspects of the role. This role reports directly to the NAM Region Head of Special Assets and is based in New York City.

Responsibilities

  • Provide strategic direction and senior oversight for Special Assets accounts, reporting to the NAM Region Head of Special Assets
  • Lead the activities of Special Assets Transactors and Analytics Team members in management and execution of the Special Assets portfolio
  • Provide Senior Risk approval for credit decisions and work products for the Special Assets portfolio
  • Serve as senior escalation point for Special Assets Transactors to resolve or manage further escalation
  • Provide overall responsibility for timely and proactive execution of portfolio management responsibilities, particularly recurring monitoring requirements
  • Accountable for ensuring appropriate classifications, risk ratings and valuations are approved and reported accurately and on a timely basis, and are in compliance with all policies, processes and procedures to promote a strong governance and controls environment
  • Work proactively, and in a constructive and diplomatic manner, with internal and external stakeholders to advance favorable resolutions on transactions, including direct interaction with borrowers
  • Communicate effectively with senior management, regulators and other important stakeholders
  • Mentor and develop Special Assets Transactors and other staff to advance their skillset and professional effectiveness
  • Provide senior leadership for special projects and initiatives
  • Recommend changes to improve existing processes, policies, and procedures to achieve greater efficiency and controls

Competencies

  • Strong credit sense and ability to articulate a view, work across a range of credit products, with experience in early problem recognition and resolution skills
  • Exceptional leadership skills with demonstrated experience in prior role(s)
  • Effective interpersonal skills, including an ability to influence and build consensus on complex issues
  • Demonstrated ability to manage conflict and influence internal partners, creditors, debtors and other stakeholders
  • Superior negotiating and influencing skills, particularly with developing effective strategies and directing legal documentation
  • Excellent communication (written, verbal, presentation and listening) and organizational skills; ability to complete multiple priorities in a timely manner
  • Leadership, coaching and mentoring skills with ability to motivate teams in a demanding environment
  • Highly analytical but also able to act with urgency, synthesize complex situations and make recommendations or decisions
  • Ability to reach decisions in a timely and transparent manner
  • Excellent team player and effective collaborator
  • Possesses high character and personal integrity

Qualifications

  • 15+ years of extensive experience in a credit-oriented leadership role, preferably with a large multinational financial services organization
  • Highly experienced senior credit executive with a deep and relevant restructuring or comparable expertise
  • Demonstrated corporate finance, business strategy and debt structuring skills, with ability to lead complex transactions and related negotiations
  • Proven track record working with a variety of credit products and/or industries, with experience implementing credit policies and remedial management processes
  • Thorough understanding of the risk profile and documentation of all credit and market products
  • Hands on experience in stressed and distressed concepts, processes, and associated internal bank accounting (e.g., valuations, cost of credit, etc.)
  • Senior Credit Officer Level 2 designation or equivalent
  • Bachelor’s degree; Master’s/advanced degree(s) and other certifications considered but not required

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Job Family Group:

Risk Management

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Job Family:

Remedial Management

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Time Type:

Full time

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Primary Location:

New York New York United States

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Primary Location Salary Range:

$275,000.00 - $400,000.00

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Citi is an equal opportunity and affirmative action employer.

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.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

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View the EEO Policy Statement.

View the Pay Transparency Posting

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

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