Regulatory Risk: ICAAP & Stress Testing Officer

Who we are:

Citi is a leading global bank, which has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi Solutions Center is the main EU banking entity for Citi with a presence in 22 European countries. It covers several key business lines including Markets and Securities Services, Risk, Treasury and Trade Services, Corporate and Investment Banking, and Consumer.

The Risk Data, Analytics, Reporting & Technology (DART) function is responsible for (i) supporting intelligent risk decisions and proactive management of Citi’s risks across the enterprise, (ii) delivering risk information and analysis to help risk managers and senior management navigate complex risks and regulatory landscape, (iii) providing deep expertise in risk data and dimensions in the development and production of reports and analytics (iv) designing policies, define leading practices and innovate technological tooling in performance of risk data governance and strategy roles. 

Legal Entity & RMCO Support team within DART Enterprise Risk Reporting & Stress Testing team is responsible for supporting legal entity Risk Management Country Officers (RMCO) to deliver Internal Capital Adequacy Assessment Process (ICAAP) and other local entity regulatory stress testing requirements, such as climate risk. This role supports RMCOs in MEA and Europe clusters.

The candidate will have the unique opportunity to work in a fast-paced environment and contribute significantly to various stress testing initiatives critical to Citi’s regulatory compliance and risk management framework.

Key Responsibilities:

ICAAP & Stress Testing Officer’s key responsibilities are as follows.

Stakeholder Management

• Understand and maintain routine and ad hoc country and legal entity stress testing requirements in the clusters

• Support the delivery of analytical support for scenario design, stress loss, and economic capital where needed, in collaboration with other DART and Risk Management teams

• Participate in key ICAAP and other regulatory stress testing-related committees, forums, and reviews as required

• Engage with Internal Audit (IA); track applicable regulatory matters, audit findings, corrective actions and milestones including collection, review, and retention of evidence

Stress Test Framework Development and Execution

• Contribute to development of regional analytical and reporting solutions to bridge the gap between central models (wholesale credit, concentration risk, market risk, IRRBB)

• Develop Book of Work for ICAAP & stress testing related activities for the cluster

• Execute a framework to support legal entity regulatory stress testing execution and submissions in the cluster

• Assist country and legal entity Risk Management teams to comply with related policies

• Participate in development and analysis of stress scenarios, assumptions, and methodologies to ensure they are appropriate for use at the country and/or legal entity levels

ICAAP & Stress Testing Governance

• Support the oversight of the Global ICAAP Standard requirements and control activities in the clusters

• Ensure that legal entity stress tests are executed pursuant to the relevant Citi policies/ standards/ procedures, and local regulations, e.g., Model Risk Management policy, Enterprise Stress Testing policy, ICAAP Standard etc.

Requirements:

• 6+ years Risk Management background (preferable) with a focus on capital planning, stress testing and scenario design as well as Pillar 2 models/methodologies

• Strong knowledge of the principles of market risk is an advantage

• Familiarity with Internal Capital Adequacy Assessment Process (ICAAP) and local entity regulatory stress tests (e.g., Industry-Wide Stress Test, Supervisory-Driven Stress Test etc.)

• Experience with development of macroeconomic/ market stress scenarios, relevant regulatory guidance,

• Experience in producing reports and presentations for senior audiences

• Ability to effectively partner with key constituents and stakeholders

• Ability to distill technical concepts and results into intuitive, impactful, and easily digested messages

•  Master’s degree in Economics, Finance, Statistics

What we offer:

• Professional development in an international role, which provides a regular exposure to numerous countries within MEA & Europe clusters

• An enjoyable and challenging learning path, which leads to a deep understanding of various risk stripes and services as well as development of your personal skills.

• At Citi Solutions Center we cooperate with other Citi entities from all over the world.  Working in our organization involves working on international projects, in a culturally diverse and dynamic environment as well as learning top quality organizational culture.  

• Competitive social benefits (medical care, multisport, life insurance, pension plan, holiday allowance, flexible working schedule and other).

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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.

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