ICM In-Business Quality Assurance – Counterparty Credit risk – Horizontal processes
3 weeks ago
Institutional Credit Management’s (“ICM”) objective is to provide an integrated “end-to-end” credit underwriting, identification, measurement, management, monitoring and reporting for wholesale credit businesses across the enterprise. In-Business Quality Assurance is an integral part of the ICM organization.
The ICM In-Business Quality Assurance function (QA) verifies that established standards and processes are followed and consistently applied. ICM Management uses the results of the quality assurance reviews to assess the quality of the group's policies, procedures, programs, and practices as relates to the management of wholesale credit risk. The results help management identify operational weaknesses, risks associated with the function, training needs, and process deficiencies.
The ICM Head of In-Business Quality Assurance reports results of Quality Assurance Reviews (QARs) to management of the respective business areas, Independent Risk, and critical partner stakeholders and regulators.
This role reports to the ICM In-Business QA, Function Head – Counterparty Credit Risk Horizontal processes.
Key Responsibilities:
Drive the development and implementation of a comprehensive program of IBQA coverage related to financing and securitisation activities in Markets across the first line of defence, working in close collaboration with business management and leveraging the product/functional expertise to ensure seamless delivery of the IBQA plan. Provide effective credible challenge to Business Region Heads and Portfolio Managers as regards credit memoranda and process quality to ensure that weaknesses in such processes are identified and escalated as appropriate. Establish and drive processes that enable wholesale credit risks within Citi are effectively identified, measured, monitored, and controlled, consistent with the bank’s risk appetite and all policies and processes established within the risk governance framework. Accountable for leading the Quality Assurance team which is responsible for execution of the following:Consistent and objective assessments during QARsSubsequent follow-up on corrective actions that were raised during QARs Synthesize and prepare quarterly Quality Assurance Scorecard Reports to ICM business management that communicate and measure results and identify negative trends and potential solutions Update and create QAR templates and continuously improve processes and infrastructure by exploring and evaluating new data sources, tools, and capabilities Interact with the respective senior management across ICM, in order to ensure that quality assurance protocols are adequate for all portfolios Provide oversight and guidance over the assessment of complex issues, structure potential solutions and drive effective resolution with stakeholders. Assist in the establishment of WCR IBQA policies, procedures, risk assessment and controls to drive effective QA coverage and standards Stay abreast of relevant changes to rules/regulations and other industry news including regulatory findings. Act as a change agent coaching staff in areas with noted deficiencies and sharing any observed best practices Ensure ongoing and timely feedback and coaching of ICM Quality Assurance staff to sustain a strong control culture and an unwavering commitment to excellence in execution Attract, develop and retain top quality assurance staff Support the Global Head of WCR IBQA on internal projects and initiatives Support WCR IBQA Voice of the Employee (VOE) as well as diversity and inclusion initiatives Travel (less than 10%)Skills/Competencies:
Audit / Credit / Counterparty Credit / Quality Assurance:
Demonstratable credit / Counterparty credit risk Audit / quality assurance experience, including 7-10 years in banking, credit risk management, Loan review function at an investment or large commercial bank Deep knowledge of risk management and control frameworks related to Counterparty Credit Risk management or another Financial Risk discipline Sound knowledge of underwriting standards for Banks, broker dealers, funds including hedge funds, investment advisors and pension funds, Insurance and public sector companies. Ability to understand complex counterparty credit product structures including derivatives and well-versed in securitisation and credit financing products as well as credit analysis, underwriting, legal documentation etc. Financing and funding solutions including TRS, CLOs, ABS, Municipal financing / Residential Financing and securitisation, Prime and Hedge fund financing etc. Insights over key counterparty credit risk themes such as limit framework, Early warning indicators, Stress testing, Wrong way risk, exposure modelling including PFE, collateral (ISDA / CSA) and margining processes including key regulations (including uncleared margin rules and IMM) and CVA Proficient understanding of policies and procedures with the ability to execute change seamlessly Exceptional knowledge and experience on designing and implementing robust Quality Assurance framework, from initial assessment of concerns and monitoring strategy, execution of scripts and procedures, development of housing infrastructure and database maintenance, reporting to senior management of observed findings, and continuous improvement, working closely and independently to the Global Head of WCR IBQA and Regional Directors Demonstrable grasp of counterparty credit risk covered process, to evaluate findings within the Quality Assurance process, determine materiality, and partnering with in-line makers and checkers for ongoing improvement, problem detection, and sustainable remediation Outstanding awareness and adherence to the control environment including Quality Assurance and Quality ControlLeadership
Strategic orientation to ensure the ICM organization continues to be positioned as a thoughtful and proactive partner on driving best practices to support safety and soundness within ICM and Citi Identifies stretch opportunities to elevate individual and team performance and recognizes individuals based on performance Recognized as a skillful manager with a track record of building high performing teams Coach, mentor and lead team members to develop team strengths and build bench strength Proven culture carrierCompetencies
Solid organizational skills with ability and willingness to work under pressure and manages time and priorities effectively with little to no supervision Powerful interpersonal skills, with the ability to build relationships and exert influence with and without direct authority Highly effective written and verbal communication skills, with the ability to communicate clearly and concisely to audiences of varying levels of seniority Analytical and decision-making capabilities including the ability to identify, escalate, and propose and execute solutions to complex problems Significant experience in preparing presentations for seniorsTechnical:
Advanced Microsoft Office (Word, Excel, and PowerPoint) skillsQualifications:
BA/BSc or higher degree in Business (MBA), or any other related subject-------------------------------------------------
Job Family Group:
Risk Management-------------------------------------------------
Job Family:
Business Risk & Control------------------------------------------------------
Time Type:
Full time------------------------------------------------------
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