VP- Risk Model oversight

The Model/Anlys/Valid Sr Mgr accomplishes results through the management of professional team(s) and department(s). Integrates subject matter and industry expertise within a defined area. Contributes to standards around which others will operate. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the entire function. Requires basic commercial awareness. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Has responsibility for volume, quality, timeliness and delivery of end results of an area. May have responsibility for planning, budgeting and policy formulation within area of expertise. Involved in short-term planning resource management responsibility of a team, which may include management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary and terminations and may include budget approval.

Responsibilities:

Develops, enhances, and validates the methods of measuring and analyzing risk, for all risk types including market, credit and operational. Also, may develop, validate and strategize uses of scoring models and scoring model related policies. Manages model risk across the model life-cycle including model validation, ongoing performance evaluation and annual model reviews. Produces analytics and reporting used to manage risk for Citi's operations. Translates operational requests from the business into programming and data criteria and conduct systems and operational research in order to model expected results. Assists in the development of analytic engines for business product lines. Communicates results to diverse audiences. Conducts analysis and packages it into detailed technical documentation report for validation purposes sufficient to meet regulatory guidelines and exceed industry standards. Participates on teams to solve business problems. Identifies modeling opportunities that yield measurable business results. Provides guidance to junior validators as and when necessary. Manages stakeholder interaction with model developers and business owners during the model life-cycle. Represents the bank in interactions with regulatory agencies, as required. Presents model validation findings to senior management and supervisory authorities. Provides effective challenge to model assumptions, mathematical formulation, and implementation. Assesses and quantifies model risk due to model limitations to inform stakeholders of their risk profile and development of compensating controls. Contributes to strategic, cross-functional initiatives within the model risk organization. Full management responsibility of a team, which may include management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary and terminations and may include budget approval. Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Qualifications:

13+ years experience Consistently demonstrates clear and concise written and verbal communication skills Self-motivated and detail oriented Demonstrated project management and organizational skills and capability to handle multiple projects at one time . Practical experience using SAS or similar statistical coding software to build and test prediction models. comfortable interfacing with business clients. proficiency handling very large data sets. Experience in a quantitative role in risk management at a financial institution with experience in either model development or validation. Good knowledge and understanding of a variety of model development and validation testing techniques covering risk models.

Education:

Bachelor's/University degree or equivalent experience, potentially Masters degree Responsible for Wealth and Consumer Retail Credit Loss Forecasting and Decision Models Oversight and Governance in Asia and European countries. With in-depth understanding of the model life cycle and model risk management, ensure compliance of applicable policies and regulatory requirements pertaining to model development, validation, usage and on-going performance assessment;Participate in model development calls between sponsor and modeler, exercise effective challenge for assumptions, risk drivers, methodologies and results to ensure models satisfy the functional requirements;Provide guidance and technical advice to countries on model related methodological issues and strategic use to achieve the business control and profitability goals. Manage/mentor a team of 3-5 junior analysts. Capable of presenting complex modeling concepts to non-technical audiences. Ensure respective countries have appropriate Champion/Challenger/Benchmark loss forecasting models / methodologies in place. Work with multiple stakeholders ( countries, modelers, credit risk oversight seniors) to ensure annual model development / enhancement plan to address model issues identified. Coordinating, and reviewing before submission to Model Risk Management (MRM), all model documentations including Validation, Re-validation, Annual Model Review, Ongoing Performance Assessment, overlay documentation, closure of model limitations. Tracking all work and approval status with MRM and countries. Ensure all models inputs ( macroeconomic forecasts) are provided in a timely manner to facilitate periodic model run as per regulatory timeline. Coordinating with Global Model Production Team to schedule periodic model run and obtain model results to support countries CCAR/CECL/ICAAP Credit Loss Forecasting submission. Participate in logistics and model usage support to Global on CCAR/CECL/ Annual Loss Forecasting submission. Achieve effective challenge to model run results to fulfill the regulatory stress testing and business credit planning objectives. Effectively support setting up of standards, designing workflows, ensuring control and compliance of regulatory submission, such as CCAR, ICAAP, CECL, IFRS9, etc. Perform model governance self-assessment, identify exceptions / findings to communicate to Senior Manager, and set up corrective action plan (CAP) as appropriate. Coordinate with multiple stakeholders to ensure timely CAP resolution. Review recommendations on possible revisions and proposed changes in Model Risk Management and CCAR/CECL policies and procedures, conduct gap analysis, implement the changes and ensure compliance at all levels. Preparing/reviewing meeting minutes of model development discussions, model results review, policy-related calls, for audit trail purposes.

QUALIFICATIONS

University degree in Economics or Statistics At least 10+ years' experience in scoring / risk segmentation / loss forecasting model management, model oversight role with solid consumer risk management experience for all consumer loan products At least 2+ years' experience in people management Strong common sense and judgment in applying the policies and procedures to specific situations Ability to work effectively under pressure Solid work experience in handling analysis and presentation of complex financing portfolios Strong in process management and control concepts Proactive in problem solving Disciplined, self-motivated, independent, mature and willing to work overtime as occasional evening conference calls with Global Office and other Asia and European countries are expected. Good verbal, written and interpersonal communication skills in liaising with global model development team and country risk teams at all levels. Strong computer skills particularly in Excel/PowerPoint/SAS/Answer Tree, etc. and ability to prepare presentation decks for senior executives Occasional travel across the region may be required

Job Family Group:

Risk Management

Job Family:

Risk Analytics, Modeling, and Validation

Time Type:

Full time

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