Description

The role sits within Global Wealth Management (GWM), a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It has been created by combining the Wealth Management businesses across Citi Global Consumer Bank and Citi Private Bank. It serves over 500,000 clients through its global footprint in Asia, EMEA, Mexico, and North America.

GWM delivers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, banking and lending. By building on the strengths and capabilities across Citi, we intend to transform the way we serve clients across the wealth spectrum, delivering the full range of high tech and high touch capabilities Citi can offer, and ultimately help them achieve their goals.

GWM propositions are delivered via tailored offerings across the Citigold, Citi Private Client, and Citi Private Bank brands.

Background

The Global Margin Lending (GML) business of GWM provides financing to the whole wealth spectrum of clients ranging from the affluent up to the Ultra High Net Worth segment against liquid and readily marketable ('LARM') securities and derivatives activity. In addition, GML serves Global Wealth as a first line of defense (1st LoD) performing credit analysis and approval function for all counterparty risk across GWM. This includes Global Margin Lending, Markets Direct Access (a joint venture with Citi Markets) and Global Capital Markets (GCM) within GWM.

The Portfolio Solutions Team is responsible for three aspects of Global Margin Lending: Loanable Value Methodology and Implementation, Portfolio Stress Testing, and Portfolio Management. Portfolio Solutions works closely with our GML Lending teams to serve as a critical component of our First Line of Defense for Counterparty Credit Risk (CCR) management and works with our Independent Risk partners (2nd LoD) to ensure best-in-class risk and controls, as well as client responsiveness.

Key responsibilities of the team include:

• Design and implement a loanable value (LV) methodology for GWM based on collateral risk factors, portfolio concentrations and liquidity characteristics by standardizing the methodology across both Citi Consumer Bank (CCB) and Citi Private Bank (CPB).
• Define and implement best in class stress testing scenarios and methodologies for GWM to identify risk in securities and/or derivative (F&O / OTC) portfolios that could be exposed to systemic, idiosyncratic or liquidity risks.
• Define and implement CCR portfolio risk metrics and analytics to express risk-reward characteristics of different portfolio views (client, region, Private Bank, Consumer Bank) for GWM.
• The scope of responsibilities and scale of this team will evolve over time to continue to meet firm and client demands.

The CCR Portfolio Solutions Product Design AVP will be responsible for partnering with the Portfolio Solutions Team globally to design and drive implementation of strategic transformational initiatives and digitalization. They will ensure global fundamental consistency as well as tailor to regional and segment needs as required. This will include:

Responsibilities:

• Participate as well as drive the design and development of strategic business capabilities of the Portfolio Solutions methodologies and processes in the loanable value, stress testing and portfolio management space with a mindset for optimization, efficiency and automation. Such as:
  • Implementation of Loanable Value (LV) transformation for GWM ensuring consistency across LOBs as highlighted in team responsibilities above.
  • Implementation of EWI (early warning indicators), metrics, tracking and alerts with focus on market/index movements, concentrated or illiquid positions and margin calls for portfolios with growing credit risk profiles so it can be monitored, reported and breaches can be escalated.
  • Implementation of a scalable and sustainable portfolio reviewing framework with a focus on remediation of gaps in Portfolio monitoring and limits management standards - Abide by guiding principles, risk limits, portfolio risk constraints, wrong way risk, portfolio/facility/obligor monitoring, risk mitigation and stress testing.
• Prototype solutions as proof on concepts for business features required in a programming language such as Python, R or Scala.
• Business Intelligence and Reporting: Leverage Tableau to perform data analytics, data visualization and create metrics.
• Work closely with technology on approved business initiatives owned by the Portfolio Solutions team. Participate in prioritizing business features to be delivered.
• Perform business analysis and define detail business functional requirements as user stories for the technology team to consume. Define testing strategies, perform testing and validation of business features delivered by technology.
• Create documentation on user training, process design, tasks, risk models, policies, and frameworks.
• Support the management and oversight of key regulatory project deliverables and Internal Audit/Regulatory issues remediation mandates.
• Establish relationships with a network of key stakeholders, partnering with senior colleagues in the Business as well as with risk management, technology, reporting and operations teams to drive implementation of strategic initiatives.

Qualifications:

• Minimum of 4+ years of experience in a banking environment participating in cross functional projects, regulatory remediation, and action plans. Familiarity with counterparty credit risk covering loanable value, market risk, portfolio risk management and/or stress scenario.
• Experience with securities-based lending with knowledge of marketable securities and a strong interest in the financial markets. Familiar with credit/lending domains preferred - origination, underwriting, credit/market risk management, collateral/exposure monitoring.
• Experience with collaborating with technology teams on execution and delivery of business initiatives in an agile environment with familiarity with SDLC - software development life cycle. Experience with Agile/Scrum methodology/JIRA and familiarity with automation testing framework/tools such as TDD/BDD, selenium, cucumber etc.. as well as UAT testing.
• Hands on experience with Python, R, SQL, and Tableau as a self-contributor with an ability to build working programs.
• Self-starter and ability to work independently as well as being a team player. Demonstrate leadership skills, proactive and shows initiative - takes ownership/accountability on responsibilities given.
• Analytical and a strong problem solver - ability to troubleshoot and perform investigative work. Good with data analysis and data validation.
• Display flexibility to work across functional areas in role and responsibilities.
• Strong organizational skills and the ability to multi-task effectively in a high-volume and complex environment with dynamic priorities, with a practical solutions-driven approach.
• Willingness to partner and collaborate with stakeholders across functions, strong influencing, facilitation, and partnering skills, and the ability to build/maintain relationships. Excellent communication (written and verbal) and interpersonal skills.
• A successful candidate will have tenacity, be flexible, manage pressure and expectations proactively, be results driven, deal with ambiguity and know when & why to escalate in a fast paced and demanding environment.

Education:

• Undergraduate degree in an analytical or quantitative field (STEM) such as science, technology, engineering, mathematics/statistics, economics, or a similar field.

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