Head of Western Europe & North America Sovereign Credit & BSLM Underwriting

London, United Kingdom
Sep 22, 2022
Sep 23, 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Sovereign Credit Management (SCM) is responsible for establishing a consistent view of country risks and sovereign creditworthiness for Citigroup and for underwriting the firm's sovereign exposures. It is a new organizational construct that is a part of the firm's broader transformation efforts to make Citi more competitive and stronger in managing risks. Sitting in the 1st Line of Defense, SCM partners closely with Citi's Franchise Management (Regional CEOs/Chief Country Officers), BCMA, Global/Local Markets Treasury, and other Institutional Credit Management (ICM) underwriting teams, to ensure that country/sovereign risk views are appropriately reflected in the management of Citi's international franchises and full spectrum of sovereign exposures across Citigroup.
Within SCM, the credit underwriting function provides analysis, greenlight, underwriting, first-line-of-defense credit approval and subsequent credit monitoring for sovereign credit extended across all ICG wholesale credit businesses including Banking, Capital Markets, and Advisory (BCMA), Global Structured Products, Financings, and Securitizations (GSP-F&S), Treasury & Trade Services (TTS), Markets, and Securities Services (MSS).

The Head of Sovereign Credit Underwriting for Western Europe & North America will have direct responsibility for Western Europe and North America. This role reports directly to the Global Head of Sovereign Credit Management.

Additionally, this function will also help oversee the global Balance Sheet and Liquidity Management (BSLM) process globally. BSLM limits are driven by Citi Franchises' needs to manage their own balance sheet and liquidity position. BSLM needs are generated by client deposits in Citi's franchises across the world.

  • Lead a team senior credit underwriters covering Western Europe and North American sovereign clients
  • Oversee the establishment of the BSLM underwriting function within ICM
  • Set a culture which demands excellence in analysis, underwriting, monitoring, thought leadership, and strong execution
  • Ensure continuous adoption of leading practices in credit analysis, underwriting, and monitoring and drives global consistency across regions
  • Promote function's close engagement with Regional Business Heads, Independent Risk, regulators, and other control functions to allow critical emerging areas of credit risk to be well understood and disseminated throughout the organization
  • Accountable for sustaining strong talent in the function including assessing the adequacy and quality of staffing, to ensure the team are well trained and competitively compensated and that talent development initiatives are in place
  • Facilitate relationships with key clients in Banking and Risk and with key Regulators, Internal Audit, and control functions
  • Support the Global Heads of Underwriting and other global function/business partners on strategic initiatives/projects
  • Support VOE initiatives
  • Senior credit approval authority covering large and complex underwritings, capital commitments, derivatives, preferably related to sovereign clients
  • Track record of managing large, diverse, high-performing teams
  • Proven experience in effectively engaging with banking regulators
  • Experience in and exposure to global credit risk management standards
  • Ability to understand capital markets products and complex financing and product structures
  • Ability to provide strategic insights and strong sensitivity to macro and regulatory issues, and impact of such issues on the various Risk families, including operational and franchise risks
  • Able to discuss and address issues associated with the allocation of risk assets and risk capital in partnership with banking and product organizations
  • Demonstrates managerial maturity in looking out for the best interests of the enterprise
  • Proven change management skills including leading complex Transformation initiatives
  • A strong mentor and coach - one with the ability to rally followers and strengthen the overall risk culture of the organization
  • Highly skilled communicator who ensures key messages are cascaded throughout the organization
  • Proven ability to understand nuances of local markets, local regulation, and the capabilities and practices of competitors
  • Navigates organizational complexity and breaks silos
  • Creates and sustains a network of strong partnerships with the business in all segments & geographies and other risk functions
  • Provides well-reasoned, balanced assessments of risk/return trade-offs associated with transactions and client relationships
  • Proven track record of partnering with global peers in leveraging and implementation of best practices
  • 15+ years risk/risk-related credit work experience in banking/financial institutions
  • Level 2 Senior Credit Officer designation is preferred
  • Proven ability to effectively engage with regulators and internal control functions including Internal Audit and Fundamental Credit Risk as well as with external audit
  • Demonstrates strong ethics and integrity
  • Strong leadership. Dynamic, flexible, and with strong communication skills
  • Ability to see the 'big picture' in a complex environment
  • Can make decisions under pressure and short timeline
  • Excellent verbal & written communication skills. Active listening skills.
  • Demonstrated influencing and negotiating ability, resolve conflicts amongst various constituencies
  • Excellent presentation skills - adept at presenting effectively to audiences of various sizes and various constituencies
Job Family Group:
Institutional Banking -------------------------------------------------
Job Family:
Investment Banking ------------------------------------------------------
Time Type:
Full time ------------------------------------------------------
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