Wealth - WCM Portfolio Strategy Officer - VP - NEW YORK

The role sits within the Wealth Credit Management team of Citi Global Wealth, 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 Consumer Bank and Citi Private Bank. 

Job Background/Context

The Wealth Lending business provides financing against liquid and marketable securities as well derivative products to the whole wealth spectrum of clients ranging from the affluent up to the Ultra High Net Worth segment.

We are looking for strong candidates to drive the development of portfolio analytics and execution of the portfolio reviews and early warning indicators process.  The successful candidate will have the opportunity to contribute to our growing business, benefiting from Citi's considerable strengths and footprint in serving affluent and HNW clients.

The role sits within the Portfolio Strategy team within Wealth Credit Management (WCM), serving as a critical component of our First Line of Defense for Counterparty Credit Risk (CCR) management, and working with our Business and Independent Risk partners to ensure best-in-class risk and controls, as well as client responsiveness. The role will focus on the execution of the Early Warning Indicators (EWI) framework for Wealth CCR and specifically on:

• Defining and implementing EWI metrics and analytics for Wealth CCR exposures;

• Managing the EWI process as it relates to metric generation and analysis, and escalating to 1LOD and 2LOD stakeholders for remediation;

• Lead the execution and delivery of the Technology solution needed to implement the risk metrics needed for EWI monitoring, liaising with the relevant Risk Management teams in Second Line and Technology teams as needed;

The scope of responsibilities and scale of this team will evolve over time to continue to meet our needs. 

Key responsibilities:

• Support monitoring and management of Counterparty Credit Risk including the development and automation of 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 Wealth portfolio, with particular focus on stress testing, early warning indicators, 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 enhance integrity of the risk management data;

• Partner with the established CCR functions of Citigroup to align and streamline CCR risk management processes, risk measures, systems, data and reporting for Wealth portfolio risks;

Work experience and competencies:

• Relevant professional experience performing similar tasks in a Market Risk or Counterparty Risk Management function;

• Strong quantitative skills, particularly with respect to counterparty risk stress testing and exposure valuations;

• Working knowledge of securities financing transactions and derivative products;

• Excellent analytical background and skill set to understand complex processes, including system data flows;

• Working knowledge of a programming language, preferably Python;

• Excellent people skills: ability to interact successfully with business partners and technology teams;

Education:

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

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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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Anticipated Posting Close Date:

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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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