SVP, Regulatory Capital Compliance - Banking Book Basel Reviewer - C14 (Hybrid)

The Finance CRO Group provides independent, objective, reliable, valued and timely assurance to the Board of Directors, the Committees, the Citigroup Chief Risk Officer, the Citigroup Chief Credit Officer, senior management and regulators on the effectiveness of credit, capital and collateral risk management and the ability of the Business and independent Risk Management to identify, monitor and mitigate current and emerging risks.

The Confirmation of Basel Classification Review & Analysis (COBRA) team provides an independent review and challenge of risk and operational processes and procedures and accuracy and timeliness of risk parameters used to determine regulatory capital treatment for various exposures.

The SVP, Lead Banking Book Basel Reviewer manages independent review and challenge of regulatory capital treatment of exposures across Citi’s Banking Book.  The role requires a thorough understanding of fundamental credit and credit risk concepts and/or associated regulatory capital requirements, including Standardized and Advanced Risk Weighted Assets (RWA) requirements under US Basel Rules.  Familiarity with regulatory capital reporting is also preferred.

Key responsibilities:

• Assist the Head of COBRA and Head of Banking Book Basel Review in executing the global Review coverage plan by leading COBRA Reviews of Banking Book Review Entities comprised primarily of direct, unfunded, contingent committed and uncommitted exposures, mortgages and credit cards exposures as well as securitization and equity exposures
• Maintain effective and timely communication with stakeholders across the organization, including Business, Independent Risk, Finance, Legal and Operations, to ensure a clear understanding, compliance with and correct implementation of US Basel Rules 
• Independently assess applicable governance and risk processes and procedures
• Assess compliance with US Basel Rules and accuracy and timeliness of RWA with an emphasis on the rules pertaining to exposures in Banking Book
• Communicate to Head of Banking Book Basel Review, the Head of COBRA and GRR Management any concerns and/or emerging risks that may jeopardize the assigned COBRA Review Entities
• Evaluate whether the Business has deficiencies in its governance processes and procedures that results or may result in incorrect RWA under Standardized and/or Advanced approach and/or non-compliance with risk management policies or regulatory capital reporting requirements
• Provide critical challenge of appropriateness and sufficiency of regulatory capital top-side adjustments proposed by Finance/Business
• Evaluate the appropriateness and effectiveness of Corrective Action Plans (CAP) aiming to remediate issues identified during COBRA Reviews
• Provide ongoing guidance as remediation pursuant to the CAPs is carried out to help ensure a timely and successful mitigation and subsequent validation of CAPs
• Ensure quality and consistency of work products that include Regulatory Capital Assessment Documents, COBRA Capital Review Plans and Review Reports created for the assigned COBRA Review Entities
• Assist in training on various US Basel Rule topics
• Manage and participate in ad hoc projects designated by the Head of COBRA or GRR Management

Knowledge/Experience:

• 10+ years of credit and credit risk experience, including experience in a regulated financial institution(s)
• Knowledge of or familiarity with US Basel Rules applicable to exposures in the Banking Book 
• Experience in deconstructing complex transactions and understanding the underlying risks
• Bank regulatory environment experience and close liaison with banking and other related industry regulators is advantageous

Skills/Competencies:

• Professional with a strong credit and credit risk experience in one or more of the following roles: corporate credit (structuring, underwriting, review and/or approval), counterparty credit risk, credit or audit review function, workout and restructuring, regulatory capital, financial reporting or regulatory supervision
• Extensive knowledge and understanding of wholesale or retail credit underwriting standards and principles, credit risk policies and strong analytical skills
• Knowledge of or familiarity with US Basel Rules and/or regulatory financial reporting is advantageous
• Proven ability to interact with senior stakeholders such as Business, Risk, Finance, Audit, Legal and Compliance, as well as senior leaders across the firm
• Strong project and time management skills with demonstrated ability to successfully handle competing priorities
• Excellent written and verbal communication skills with the ability to communicate clearly and concisely to audiences of varying levels of seniority and strong analytical skills including ability to analyze large data sets and demonstrated attention to detail
• Strong interpersonal skills and demonstrated ability to build relationships and exert influence without direct authority
• Proficient in Microsoft Office (Word, Excel, and PowerPoint)

Qualifications:

• Bachelor’s/University degree, Master’s degree preferred
• Senior Credit Officer designation (or equivalent) preferred

Valuing Diversity:

• Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organizational success.

Travel Required:

15-20%

Reporting to the Head of Banking Book Basel Review in Confirmation of Basel Classification Review & Analysis (COBRA) group, the Reviewer participates in independent reviews of regulatory capital treatment of wholesale, retail, and equity exposures across Citi’s Banking Book. The role requires a thorough understanding of fundamental credit and credit risk concepts and/or associated regulatory capital requirements, including Standardized and Advanced Risk Weighted Assets (RWA) requirements under US Basel Rules.  Familiarity with regulatory capital reporting is also preferred.

The COBRA team is part of the Finance Chief Risk Officer (CRO) organization. It is responsible for an independent review and challenge of risk and operational processes, procedures, and the accuracy and timeliness of risk parameters used to determine regulatory capital for various exposures. The Finance CRO Group provides independent, objective, reliable, valued, and timely assurance to the Board of Directors, the Committees, the Citigroup Chief Risk Officer, the Citigroup Chief Credit Officer, senior management, and regulators on the effectiveness of credit, capital, and collateral risk management and the ability of business, independent risk management and other support functions to identify, monitor and mitigate current and emerging risks.

Essential tasks and activities

• Actively participate in COBRA Banking Book reviews as a member of the review team Assess compliance with the US Basel III Rules and accuracy and timeliness of regulatory capital for all exposures in the Banking Book
• Maintain effective and timely communication with stakeholders across the organization to ensure a clear understanding, compliance with, and correct implementation of the US Basel Rules 
• Independently assess all applicable processes and procedures and evaluate the effectiveness of controls
• Timely communicate to the Head of Banking Book Basel Review and the Head of COBR any concerns and/or emerging risks that may impact compliance with the Basel Rules
• Evaluate the appropriateness and effectiveness of Corrective Action Plans aiming to remediate issues identified during COBRA Reviews Provide ongoing oversight and guidance during issue remediation
• Conduct issue validations to assess whether remediation of issues adequately addressed risks and weaknesses that may negatively impact compliance with US Basel Rules
• Provide critical challenge of appropriateness and sufficiency of regulatory capital top-side adjustments proposed by Finance/Business
• Assist with training on various US Basel Rule topics
• Manage and/or participate in ad hoc projects designated by the Head of COBRA

Competencies

• Knowledge of the US Basel Rules applicable to exposures in the Banking Book (i.e., wholesale, retail, and equities)
• Extensive understanding of wholesale, retail, and equity products offered by banks and other regulated financial institutions
• 10+ years of credit and credit risk experience, including experience in a regulated financial institution(s)
• Strong project and time management skills with demonstrated ability to successfully handle competing priorities
• Excellent written and verbal communication skills with the ability to communicate clearly and concisely with audiences of varying levels of seniority
• Strong analytical skills, including ability to analyze large data sets
• Strong interpersonal skills and demonstrated ability to build relationships and exert influence without direct authority
• Bachelor’s/University degree required; Master’s degree 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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