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Wholesale CECL Overlay Manager - SVP

Job Req ID 22600928 Location(s) New York, New York; Irving, Texas Job Category Risk Management
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Position Summary

The position is part of Citi’s Wholesale Credit Allowance, Stress Testing and Risk Ratings Oversight Group, which manages these processes for Citi’s entire Corporate Loan portfolio.  

The focus of the role will be to manage the end-to-end process contemplated by Citi’s Wholesale Credit Reserves Governance Framework around quantitative and qualitative/expert judgment Overlays to the model results. The process is quarterly and interferes closely with the internal cost of credit planning and stress testing processes, feeding, as needed, also the regulatory CCAR proceedings. The role, with the support of 1-2 analysts, will be responsible to ensure that the CECL model results are complemented with the necessary adjustments to compensate for known model limitations, or to account for risks not adequately addressed by the raw model output, like idiosyncratic events and portfolio dependencies to economic and political environment changes.

The position offers high visibility to Citi’s Wholesale Credit Risk Organization Senior Management, and further development opportunities within Citi’s Risk organization.

Key Responsibilities:

  • Subject matter knowledge of the CECL Modeling framework, including modeling assumptions, limitations, and model risk management, audit and regulatory comments about the same.

  • Assess the CECL model results vis a vis the expectations according to portfolio quality and the economic scenario assumptions, solicit feedback from the portfolio managers directly and/or through participation to the Business Review and Challenge forums, and offer recommendations on how such feedback can be translated into quantifiable overlay amounts. Ensure transparency and timely action.

  • Partner with Wholesale Risk Executive Management, Model Risk Management and other control functions as needed, to seek principle concurrence to the overlay recommendations; Articulate the proposal and rationale in tailored for the audience presentations, minuting the discussion output for proper governance.

  • Secure the required approvals in full compliance with the firmwide quarterly Cost of Credit calendar and Wholesale Credit Risk internal dependencies as relevant. Ensure neat, clearly articulated overlay documentation, to satisfy audit and regulatory requirements.

  • Ensure the approved overlay amounts are accurately registered in the system and properly applied to the intended raw model output records. Build internal reconciliation process to safeguard the data integrity.

  • Support data flow automation efforts and processing time efficiency initiatives, by partnering with the CECL Analytics and process governance partners, and consistently challenging the status quo to higher excellence standards.

  • Partner closely with the CCAR/Stress Testing overlays counterpart to align as needed the CCAR/Stress Testing overlay recommendations to the actual starting and ending CECL expectation for the given quarter. Ensure methodologies are consistent while remaining fit for each framework’s purpose.

  • Support the rest of the Wholesale Credit Allowance, Stress Testing and Risk Ratings Oversight Group, according to business needs and periodic priorities.

Qualifications:

  • Min. 10 years of experience in the financial industry, preferably a G-SIB.

  • Experience in credit risk modeling. Knowledge of running coding in R, Python or SAS, and writing and editing technical documentation. Knowledge of Wholesale credit risk general principles is sine qua non.

  • Experience in Wholesale CECL will be preferred. Alternatively, roles associated with portfolio credit risk management and capital planning over classifiably managed exposures also qualify.

  • MS Office proficiency - particularly Excel (metrics and data analysis), PowerPoint (presentation decks), and Word (writing and editing procedural and technical documentation).

  • Experience in Project Management will be preferred, as an indication of the ability to partner effectively with Quantitative Research, Portfolio Risk Managers & Technology stakeholders, to ensure successful delivery of project goals.

  • Excellent written and verbal communication skills; highly detail oriented and able to communicate concisely and clearly with line risk managers, senior management, and other control functions such as model risk management, finance, and internal audit.

  • Strong analytical skills with the ability to identify root causes and trends, communicate into "user-friendly" language, and effectively present in text or slide format.

  • Strong time management skills with the ability to successfully handle competing priorities.

Education:

  • Bachelor's degree/University degree

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Job Family Group:

Risk Management

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Job Family:

Regulatory Risk

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Time Type:

Full time

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Primary Location:

Long Island City New York United States

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Primary Location Salary Range:

$170,880.00 - $256,320.00

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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.

View the "EEO is the Law" poster. View the EEO is the Law Supplement.

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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