Global Head of Financial Institutions and Counterpart Credit (FICC) Risk - MD in London - Citigroup Inc.

Financial Institutions and Counterparty Credit (“FICC”) within Wholesale Credit Risk is responsible for proactively managing Citi’s credit exposures across the globe through a coverage model of regional and industry specialists. The portfolio consists of banks, broker/dealers, insurance companies, funds, hedge funds, amongst other counterparty types.  Credit-sensitive products and services include loans, derivatives and other capital markets products, trade finance, clearing and settlement, cash, and securities services.
Candidates applying for this role must be aware that it is a Certified Role, subject to the FCA and PRA Certification Regime.
The Certification Regime is one element of the Individual Accountability Regime which came into effect on 7 March 2016.
Under the Certification Regime, Citi UK regulated entities (Citi entities) must ensure that employees working in certain roles categorised as specified significant harm functions (Certified Roles) are assessed as fit and proper to carry out their role.
Under the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:
• Honesty, integrity and reputation
• Financial soundness
• Competence and capability
In order to comply with the requirements of the Certification Regime, Citi entities must take reasonable care to ensure that an employee does not perform a Certified Role without first being certified as Fit and Proper. For this reason, you will be assessed for this role against the Fit and Proper requirements, as described above.
This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, regulated reference checks, credit checks and other background screening checks.
Job Purpose
Implement the vision and strategy for FICC globally including adoption and adherence to the WCR framework and policy which is underpinned by collaboration with our key partners in the first line of defense including Institutional Clients Group (ICG), Citi Global Wealth (CGW), and Institutional Credit Management (ICM). Primary activities include second line of defense oversight, review and challenge across Financial Institutions (FI) relevant credit activities and ensuring the FI portfolio remains within the risk appetite of the overall business strategy. Additionally the Head of FICC is expected to oversee and govern Counterpart Credit Risk (CCR)  through continued implementation of CCR metrics, exposure controls, and reporting across Potential Future Exposure (PFE), Stress Testing, and Risk Factor Sensitivities. All measurements are used for internal risk management purposes focused on transactions and counterparties that give rise to CCR including, but not limited to, those which trade derivatives, securities financing, and cash trading.

Key Responsibilities:
Lead and manage a global division of 150+ senior risk professionals who oversee the Financial Institutions industries as well as portfolio level counterparty credit risk management and monitoring

Work in conjunction with the Risk Mgmt. Execution Council (RMEC), WCR leadership team, and WCR peer group to provide second line of defense oversight, review and challenge over our lending and counterparty credit activities

Represent FICC in Citi wide senior governance forums including, but not limited to, Global Risk Mgmt. Committee (GRMC) and Risk Mgmt. Committee (RMC)

Sponsor and run internal FICC governance such as the CCR Management Council and relevant subcouncils e.g., DSFT Councils

Establish and continually monitor policies, procedures, and controls necessary to comply with new or changed laws and regulations relevant to FICC e.g., SR 11-10

Demonstrate strong capital markets and technical expertise to ensure that risk is appropriately identified, measured and managed across the FICC portfolio and within the risk appetite of the overall business strategy

Perform pre trade advisory of large complex transactions and enable real time reporting for market events & legal entity oversight

Be fluent on the quantum, trend, and composition of CCR exposure across the relevant WCR industries

Ensure consistent enhanced risk principles are applied for similar risks across ICG & CGW

Increase integration with firm wide processes such as enterprise level rapid stress testing and capital planning

Lead FICC through critical matters that impact the division including regulatory exams, internal and external audits, and Credit Risk Reviews; oversee and sponsor the implementation of related remediation

Oversee timely, clear and concise responses to ad hoc requests from senior management, auditors and regulators

Manage and motivate the personnel within the division at large and ensure proper development of FICC management team members & relevant successors

Knowledge/Experience:
Candidates should have extensive experience in financial institution and counterparty credit risk

Strong capital markets product knowledge and analytical experience is required

The preferred internal candidate must be at least a Level 1 Senior Credit Officer, or demonstrate the ability to attain Level 1 quickly

Strong partnering skills and the ability to work collaboratively across the organization; sound fundamental credit and portfolio management skills

The candidate should be proficient in legal, regulatory and compliance matters and should be able to demonstrate strategic risk insight and sensitivity to macro and regulatory issues

Skills:
Board level written and verbal communication skills

Superior analytical and quantitative skills

Able to quickly distil transactions/business propositions to key risks

Strong people and process management, mentoring, and coaching ability

Demonstrated leadership skills

Demonstrated change management skills

Ability to lead meetings/calls, to listen to other points of view, provide appropriate challenge and to take decisions with a clear rationale

Competencies:
Demonstrates integrity and sound independent risk judgment

Operates to the highest ethical standard, acts as a role model to others

Ability to work comfortably in a matrix environment

Self-starter, motivated, aspirational

Demonstrates a commitment to diversity and inclusion

Qualifications:
Educated to degree standard or equivalent; MBA preferred

Level 1 Senior Credit Officer

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
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Job Family Group:
Risk Management -------------------------------------------------
Job Family:
Credit Decisions ------------------------------------------------------
Time Type:
Full time ------------------------------------------------------
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