RRE Mortgage Underwriting Head - Private Bank
The RRE Underwriting Head SAFE Act manages multiple teams through other managers. In-depth understanding of how own sub-function contributes to achieving the objectives of the function. A good understanding of the industry, direct competitors' products and services, is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the relevant part of the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. Accountable for end results, budgeting, planning, policy formulation and contribution to future strategy of the area(s). Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses. Full management responsibility for multiple teams, including management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval. May be doing involved or responsible for diverse (cross-discipline) activities. Typically, a direct report to a C16 role and function as an intergral member of the functional leadership team within a country/site location, job family, or line of business.
- The RRE Underwriting Head is responsible for the development, implementation and governance of a comprehensive framework used to manage underwriting and residential real estate credit risk in the Private Bank.
- Managing the underwriting process, pipeline, loan quality, personnel, and deal structuring of complex mortgage transactions
- Establishing goals and objectives for the department, ensuring proper controls and procedures exist for timely and accurate processing of credit reviews while maintaining an environment focused on credit quality, service, accuracy and efficiency.
- Managing compliance, business and independent risk controls as required and/or needed
- Create and foster an environment of teamwork, camaraderie and professional growth and development
- Provides leadership and guidance to underwriting teams specializing in large complex jumbo mortgage transactions for high net worth borrowers
- Proactively manage the underwriting pipeline and workflow to ensure service levels and turn times are achieved and production is managed across teams
- Interface with GMMS, RMMS, Private Bankers, Credit Risk and Senior Management on large complex deals
- Work with members of the client’s inner circle to advance their loan request i.e. business managers, CFOs, family offices, CPAs and others as needed
- Hire, train, manage, coach and constantly evaluate the team
- Establish and manage department goals and key performance objectives
- Advise and consult with business line management towards the development of effective underwriting program
- Organize, manage, control and evaluate standards and controls necessary to ensure the timely and accurate credit decisions
- Design processes and methods to ensure credit decisions are generated in an accurate and timely manner
- Manage workflow and monitor daily productivity, ensure proper controls and procedures are documented, maintained and followed and identify trends
- Foster an environment of continuous improvement
- Prepare and issue senior management reports and deliver presentations to large audiences
- Responds to Quality Control, Compliance Testing and Internal and External Audit findings
- Additional responsibilities as required by management
- Makes recommendations to enhance credit policy to meet business needs
- 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 others and create accountability with those who fail to maintain these standards.
- 15+ years of experience in a financial institution.
- Previous underwriting experience managing high performing teams.
- Must have proven experience underwriting large loans in the High Net Worth, Real Estate or Commercial Banking environment
- Strong knowledge of business process management
- Excellent knowledge of mortgage compliance
- Strong analyticl skills, including financial analysis of complex information e.g. corporate cash flows, multiple sources of personal income, structuring complex mortgage or other financing transactions
- Strong interpersonal skills
- Self-directed and self-motivated
- Experience with MS Office applications (Word, Powerpoint, Excel). Experience using V-Basic, Excel pivot tables, other database applications preferred.
- Bachelor's/University degree, Master's degree preferred
Job Family Group:Private Client Product Services
Job Family:RRE Mortgage Underwriting
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