Vice President - Credit & Portfolio Risk Management - Insurance
- Primary Location: United States,New York,New York
- Education: Bachelor's Degree
- Job Function: Risk Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 19034479
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.
The successful candidate will be expected to take prime responsibility for analyzing and risk managing credit exposure and requests for North American and Bermudan insurance clients, including:
- Reviewing, approving credit analysis memos and transaction execution with product partners.
- Producing advanced level analysis ensuring that aggregate exposure to customers remains appropriate to their credit standing (including periodic and event driven reviews);
- Analyzing transactions and assisting structuring to contain risk within acceptable parameters where appropriate. The successful candidate will be expected to cover a full range of lending, structured/acquisition finance and capital markets transactions, including detailed knowledge of associated documentation;
- Developing and maintaining relationships with the Relationship Managers, Traders, Sales and Account Officers who are originating business and credit exposure to the customers;
- Exercising sound credit judgment to either approve under delegated credit authority or for recommendation to senior approvers;
- Monitoring portfolio metrics for a numerous insurance sub-sectors within the NA Insurance portfolio to provide periodic sector outlooks, stress testing and customer force ranking analytics.
- Co-managing troubled assets with IRM colleagues including valuation analysis, amendment approvals and monthly credit reviews.
- Assisting with special projects including stress testing, portfolio reviews, FCR, Risk Rating processes, Credit Policies and other programs reviews across product groups
- Candidate should have good experience within general credit risk, ideally with a solid grounding in insurance.
- Strong understanding of Corporate Finance, Trade and Transactions Services as well as Traded products (FX, derivatives, futures, Repos..) and related risk concepts (e.g. mark to market, VAR) is also desirable.
- Experience in negotiating credit terms loan agreements and capital markets legal documentation is required.
- Solid understanding of policies and procedures impacting the Credit Risk Management framework
- Familiarity with CitiRisk, Citi Credit and other policies can be helpful.
- Strong written and verbal communication skills with the ability to present analysis and recommendation in a succinct manner
- Proven strong analytical skills with good attention to detail, ability to provide big picture decision making and to mentor junior staff.
- Demonstrated aptitude for tackling analytical questions through quantitative modeling and the analysis and manipulation of large data elements.
- Ability to meet deadlines created due to business needs
- Ability to conduct onsite due diligence visits with relationship managers
- Bachelor's degree in Business Administration, Finance, or Economics preferred
- 6-10 years of work related credit risk or relevant experience, preferably gained at either Citigroup or at a major institution
- An MBA, CPA, or CFA preferred and formal Credit Training is a plus
- Strong interpersonal and organizational skills
- Flexibility of thought
- Attention to detail
- Ability and willingness to work under pressure