Vice President-CCAR, US Branded Cards Risk Management - Hybrid
Integral to Citi Cards‘ success is strong and effective Risk Management that allows us to serve our customers while also protecting Citi’s interests. Brands Risk Management division comprises of 400 highly qualified individuals spread across the globe.
The VP-CCAR role is within the Risk Appetite & Loss Forecasting team. This group is specifically tasked with calculating and managing the net credit loss forecast on a +$90BN portfolio and working with the CECL/Reserves and Finance teams to build forecasts for an adequate operating plan for the future. The VP-CCAR will be responsible for US Branded Cards’ efforts around Comprehensive Capital Analysis & Review (CCAR/DFAST) for Branded Cards and PIL portfolios.
The person should to be a leader - expected to leverage existing resources as well as work single handedly depending upon the dynamics of the situation in order to deliver high quality results. The individual will collaborate with Modeling, Finance, Risk Policy, Governance, Global CCAR office, and External Auditors.
Responsibilities include but are not limited to: compare and contrast macro-economic scenarios, manage and maintain model inventory for CCAR models, analyze model outputs relative to other business, ensure that the models provide rational and logical output. Reconcile detailed financial data from disparate data sources, produce summary documents and presentations, lead management reviews with business leaders and Independent Risk, aid the Global CCAR team in providing presentations and memos to regulators, and external auditors. Utilize avenues for automation where available and drive process efficiency.
- Collaborate with Risk Modeling, Portfolio and New Account Forecasting, Data and Reporting teams.
- Be able to independently lead the team through:
- the annual stress testing processes (CCAR, Mid-cycle stress testing, Recovery Plan), and
- associated governance activities (Manager Control Assessment, End User Computing, Activity Risk Control Monitoring and its Assessment Units)
- Review and challenge existing models, and model outputs to identify areas of improvement relative to portfolio & macro-economic trends.
- Understand the calculation of reserves, components of P&L, and the impact of CECL on CCAR results besides understanding the synergies between two processes
- Partner with Finance team to complete requests on financial planning & CCAR/DFAST results and increased integration of credit risk & PPNR results
- Create presentations with supportive analysis, storyboard results, and lead discussions with senior management, Finance heads, Independent Risk; required as part of the business review and effective challenge process.
- Establish and continually evolve standardized business and submission documentation.
- Coordinate with Global CCAR Office, drive centralized reporting requirements, and communicate with Auditors and Regulators
- Partner with Risk and Finance organization to understand sources of data and continue to improve the process of defining, extracting and utilizing data.
- Identify areas of improvement in BAU and drive process efficiency through process simplification and automation (VBA, SAS, etc.)
- Manage information controls (version control, central results summary) to meet business objectives with utmost clarity and least confusion.
- BA or BS degree (Master’s/PhD degree in an analytical field is a plus).
- 5+ years of work experience in financial services or management consulting.
- Strong understanding of risk management. Knowledge of credit card industry and Knowledge of credit card industry and key regulatory activities (CCAR) are a plus.
- Understanding of forecasting models
- CCAR / DFAST submission experience is preferred
- Broad understanding of overall business model and key drivers of P&L.
- 5+ years of experience in using analytical packages, datacube/Essbase, MS Office (Excel, Powerpoint)
- Vision and ability to provide innovative solutions to core business practices.
- Ability to develop partnerships across multiple business and functional areas.
- Strong written and oral communication skills.
- Capability and experience to drive changes in order to achieve business targets
- Senior executive interactions - can present credibly to both large and small groups
- Strong interpersonal skills and ability to influence at all levels of management
- Displays flexibility to work well with varying personal styles
- Takes personal responsibility to lead by example. Understands and appreciates diverse backgrounds.
- Demonstrates strong ethics
- Develops strong cross-functional relationships within and outside Risk Management
- Contributes to a positive work environment; shares knowledge and supports diversity
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
Citi Branded Cards North America (N.A.) is the market leader in the US credit card industry with over $90BN in receivables across 25+ million customer relationships. With a pre-eminent global brand and distribution, Branded Cards N.A. maintains its leadership position by delivering industry-leading products, advanced services and payment systems that address clients’ evolving needs. The Branded Cards N.A. business is comprised of Citi Branded Cards Proprietary and partner card products including Costco, American Airlines, AT&T and Expedia.
Job Family Group:Risk Management
Job Family:Credit & Portfolio Risk Management
Time Type:Full time
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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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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