1+ months

VP, Data Management & Regulatory Initiatives Oversight

Citigroup
Long Island City, NY 11101

Description:

Business Overview

The Commercial Risk organization is responsible for independent risk management of Citis Commercial Bank business organization. The Commercial Bank encompasses two distinct managed segments: The Citi Commercial Bank (CCB), with presence in more than 25 countries, and target market mid-sized and large companies with annual sales up to $1Bn; and the Retail Business Banking (RBB), serving Small Businesses, mostly subject to delinquency management. The Global Commercial Classifiably Managed portfolio is worth $50 billion in asset terms.

Position Summary

The position will support the Commercial Banks Classifiably Managed portfolio, as an integral part of Commercials Global Risk Analytics Team, located in NY. It is the team who accommodates a number of centralized processes for CCBs global network, including the Allowance for Credit Losses (ACL), and the semi-annual Comprehensive Capital Analysis and Review (CCAR).

The primary focus of the position will be the development of an in-depth understanding of both the ACL (also referred to as Current Expected Credit Loss or CECL), and CCAR Model data dependencies, mapping assumptions between original data elements and secondary/derived attributes consumed by the models, and the compensating controls and proxy values for any data limitation.

We are looking for tech savvy candidates, with strong acumen over system and data flows, and ability to break a process down to its detailed components and clearly articulate hand offs and dependencies.

Responsibilities

- Be the primary point of contact in providing assistance, guidance and training on the portfolio attributes consumed by the CECL and CCAR models.

- Develop analytical tools to help capture any data anomalies distorting the CECL or CCAR model results.

- Estimate the economic impact on ACL of any identified data errors and make offsetting overlays to the model output as necessary.

- Participate in the semi-annual CCAR stress testing process for the Commercial Banks classifiably managed portfolio, which includes ensuring completeness of the portfolio in scope, and accuracy of the core transaction level attributes that drive the model result.

- Engage in projects driven by Policy changes and/or re-engineering initiatives primary related to CECL and CCAR for classifiably managed exposures.

- Support the inclusion of the CECL considerations into the Risk/Return profitability tools used to measure the performance of the CCB portfolio.

- Support ad hoc credit portfolio analyses and presentations to assist in Global CCB Risk Oversights portfolio management responsibilities.

Qualifications

- Minimum of 4 year experience in the financial sector, with at least 1.5 years in the current role

- Working experience in roles associated with risk reporting and/or portfolio management of classifiable exposures REQUIRED

- Processing large datasets REQUIRED

- Basic Accounting and Financial Reporting - PREFERRED

- Experience in Project Management - PREFERRED

- Knowledge of Loan Loss Reserve, CCAR, and Basel concepts - PREFERRED

- Familiarity with Citis risk reporting systems, credit policies and procedures - PREFERRED

- Proficiency in MS Excel, Word and PowerPoint; no advanced macro/VBA or any other programming skills are required

- Excellent written and verbal communication skills, able to communicate clearly and concisely

- Ability to work independently and prioritize workload in a fast paced environment. Self-learner

- Attention to detail

- Good Interpersonal skills, able to work in a team environment

- Energetic, responsive team player, willing to take initiative and grow

Education

- Bachelor's degree/University degree

Additional Data

Effective Jan 1, 2020, Citi, in compliance with the new accounting standard introduced by FASB (Financial Accounting Standards Board) for estimating credit losses, transitioned from US GAAP to Current Expected Credit Loss (CECL). The CECL estimation process for Commercials Wholesale loan book is accommodated by an extended number of models, consuming multi-segmented portfolio data to provide a more risk sensitive credit loss expectancy.

The CECL Model framework has many commonalities with the Model framework employed for Citis CCAR, the accuracy of each processs output being heavily dependent on the quality of the multiple data attributes fed into the models, and the validity of the assumptions to overcome any data limitations.

The role will be responsible to ensure the data owners for Commercial Banks global wholesale portfolio (Business, Independent Risk, Finance, Technology), whose system inputs affect the CECL and CCAR Models outputs, are educated on and kept consistently informed of the critical data elements, and the impact of any inaccuracies. To this effect, comprehensive walkthroughs and training materials will have to be developed, and monitoring and control mechanisms will need to be designed to enable an on-going oversight of the Commercial Wholesale portfolio data accuracy.

The positon will be responsible to inform and update Commercial Banks Senior Management of any data issues, help form and participate to groups to work out corrective plans, but will not be kept accountable for ultimate solutions that lie beyond the reach of the Independent Risk organization.

The position will work both with the team members in charge of the ACL process and those in charge of the CCAR process, exploiting synergies and promoting efficiency. Beyond the primary focus as described above, the position will support the Global Risk Analytics team in its regular and ad-hoc activities, according to the business needs, with the intent to expose the candidate to most of the teams tasks, to make him/her grow to a well-versed Commercial Credit Risk staff.

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Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - US

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Time Type :Full time

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Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.

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 CLICK HERE.

To view the 'EEO is the Law' poster CLICK HERE. To view the EEO is the Law Supplement CLICK HERE.
To view the EEO Policy Statement CLICK HERE.
To view the Pay Transparency Posting CLICK HERE.

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Posted: 2020-03-09 Expires: 2020-08-07

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VP, Data Management & Regulatory Initiatives Oversight

Citigroup
Long Island City, NY 11101

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