The Portfolio Management Group (PMG) is an independent function in the 2nd Line of Defense Risk organization that seeks to apply portfolio management techniques on a macro basis, primarily for the global wholesale lending and counterparty credit risk portfolio. PMG, which reports into the Banking and International Risk CRO, conducts portfolio oversight & challenge and focuses on several key initiatives to ensure robust execution of limit frameworks and enhance Citi’s risk management discipline. The key activities of PMG include risk appetite & limit setting, breach and concentration risk management, risk mitigation (hedging strategies), portfolio oversight and optimization, stress testing, and other regulatory deliverables. The group offers a lean structure with the potential for career progression, significant senior management exposure and works closely with many partners throughout the organization globally including all areas of Risk and Business.

Responsibilities:

• Support PMG, an independent second line of defense team, across all aspects of the single name limits framework which is a key pillar within the broader portfolio management function.

• Act as effective second line challenger to first line counterparts in setting risk appetite, resolving excesses against applicable limits and facilitating risk mitigation strategies, conducting data analysis and creating & delivering presentations to senior management

• Conduct independent working sessions with business and risk stakeholders on PMG governed frameworks and facilitate necessary policy requirements while factoring in effective risk management techniques to support the portfolio.

• Manage and enhance the single name limits monitoring and breach management framework, which includes limit setting and capital-based stress loss allocation methodologies, real-time hedging processes, and continuous monitoring of single client concentrations across Corporate Banking, Commercial Banking and Wealth organizations to increase returns while minimizing risk

• Become a subject matter expert of Citi’s Risk policies, often guiding Risk and Banking stakeholders on approval or hedging requirements and policy nuances, and enforcing applicable governance plus applying best practices

• Stay up to date on relevant issues within the financial markets as it pertains to risk management which may influence business decisions in the portfolio

• Analyze idiosyncratic, emerging, and correlated risk factors within the wholesale lending and counterparty credit risk portfolio. Make recommendations for risk mitigation or single name concentration strategies

• Adapt to various developments in limit setting, stress testing, capital analysis, or regulatory initiatives across the firm which materially impact PMG frameworks, identify linkages to other portfolio limits, and propose enhancements as necessary

• Participate in ad-hoc projects to analyze and implement strategic frameworks in the bank to enhance risk management processes and technology systems, expedite problem recognition, and improve capital efficiency across the portfolio

• Participate in quarterly portfolio reviews to evaluate single name concentration risk, and challenge proposed appetite, where appropriate

Qualifications:

• Undergraduate degree and about 5 years of relevant experience in credit risk management, underwriting, capital management, or related roles in the financial services industry. Graduate degree is a plus.

• Strong subject matter expertise on a wide range of wholesale lending and counterparty credit risk activities (corporate loans, derivatives and securities financing transactions, distribution risk, structured / securitized products, trade and supply chain finance, leveraged lending, etc.) and fundamental understanding of financial statement analysis & key risk metrics

• Experience working alongside first line of defense underwriting and business stakeholders and providing effective review and challenge of 1LoD proposals, including new extensions of credit

• Understanding of effective risk mitigation tools (CDS, asset sales, participations, CLNs, structural enhancements, etc.) and their impact on capital / Basel relief and risk-weighted assets

• Efficient technical skills in the form of Microsoft Excel, Word, and PowerPoint, including familiarity with manipulating databases to efficiently extract appropriate data and evaluate insights / trends

• Ability to work in a demanding and fast-paced environment, exhibiting a high degree of flexibility and ability to multi-task, while often operating independently as a key contact for credit risk managers, underwriters, and relationship managers

• Strong inter-personal communication and organizational skills, high level of attention to detail, confidence to interact with senior internal management and a wide range of other key stakeholders across Risk and Banking departments

• Team oriented, with an interest in developing proficiencies and mentoring other junior employees

Job Family Group:

Risk Management

Job Family:

Credit Decisions

Time Type:

Full time

Primary Location:

New York New York United States

Primary Location Full Time Salary Range:

$129,840.00 - $194,760.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date:

May 17, 2024

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Citi is an equal opportunity and affirmative action employer.

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