Wealth is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It serves over 500,000 clients through its global footprint in Asia, EMEA, Latin America, and North America. Wealth delivers a wide range of products and services covering capital markets, managed investments, portfolio management, lending, and banking.Job Background/Context:The Wealth Lending business offers a diverse product range including Securities Based Lending, Commercial Real Estate (CRE) and Residential Real Estate finance (RRE), Aircraft, Subscription Credit Facilities (SCF), Art-backed Finance as well as tailored solutions to target market clients of the different business segments of Wealth.The Wealth Credit Management (WCM) team is a critical component of our First Line of Defense for credit risk management and works with our Independent Risk partners to ensure best-in-class processes, risk and controls, as well as client responsiveness. Key responsibilities include credit analysis and approvals, portfolio management, credit documentation, risk identification, monitoring and administration associated with Wealth’s Wholesale and Retail lending activities. The scope of responsibilities and scale of this team continues to evolve over time to ensure it can meet the needs of the business.WCM’s mission is to provide best-in-class credit analysis and monitoring which is risk-differentiated, thoughtful, timely, and which conforms to applicable local and global regulatory expectations for safety and soundness in their relevant jurisdictions.WCM Head coordinates across Wealth and with Institutional Credit Management (ICM) and other credit management groups across Wholesale and Retail/Consumer to ensure full alignment on business and regulatory goals, as well as consistency and best practices where appropriateWealth Credit Management Head
The Global Head of Wealth Credit Management will be a member of the Wealth Lending Leadership Team for Wealth.
The incumbent of this role will be tasked with leading a global team of 1LOD In-Business Risk specialists with the initial, primary responsibility to perform the analysis and due diligence for the credit approval, 1LOD approval, deal execution and closing as well as ongoing portfolio monitoring, quality assurance and underwriting governance. The team will co-ordinate closely with the Lending Advisors to support all Lending.
The Global Head of WCM will drive the development of the WCM function including recruitment of top underwriting talent and organizational enhancements as the scope of responsibilities and scale of this team evolves over time to continue to meet the lending needs of the Wealth organization.
This is a highly demanding role, requiring strong leadership, governance and oversight founded on exemplary lending and underwriting experience as well as knowledge and experience of Citi’s Credit Policies, Standards, and Procedures, risk management practices and regulatory expectations
KEY RESPONSIBILITIES:Interpret the global strategy and drive execution of frameworks, programs, and technological solutions to achieve the following key mandates:Define, establish and manage scalable end-to-end processes for the core production pillar. Specifically, this would include
Credit Analysis and Production: effectively engages with Lending Advisors and independent Risk Managers (2LOD) to effectively underwrite and document new originations / extension of credit exposure together with increases and other amendments. Deliver best-in-class credit analysis including financial review, risk ratings, classification, collateral that meets / exceeds relevant regulatory requirements and meet client deadlines
Legal Documentation: provide expertise around credit terms and internal policy expectations and ensure that these are effectively captured and monitored
Accuracy and completeness of Credit Data: ensure that data captured in our credit infrastructure are in-line with the approvals and conform to credit documentation
On-going monitoring: deliver timely, high-quality analysis of existing exposures including completion of annual reviews, quarterly reviews, and other locally required approvals. Partner with Lending Advisors on any ad-hoc analysis needed to support early warning activities.
Escalations: ensure timely tracking and escalations around exposure monitoring breaches, documentation deficiencies, collateral, and covenant tracking
Management Information and Reporting: Developing analysis tools to measure critical production and control metrics to drive credit and portfolio actions including but not limited to the following: un-remediated credit data quality concerns at the credit file level, credit file exception remediation tracking, past due or extended annual reviews and quarterlies, and return-for-rework metrics, collateral data, etc.
Quality Assurance: an enhanced credit administration function to test and report on the quality of underwriting and credit decisioning and monitoring in line with Credit Policies, Standards and
Provide 1LOD approvals in line with Citi Credit Policy, Standards, Procedures and Product Programs
Partners with business, operations, technology, data teams and control functions to drive credit data quality of key data attributes include data, models, gap analysis and remediations Manages and drives multiple regulatory and control priorities including responding to Regulatory (including WCR and Consent Order), Audit and Fundamental Credit Risk and other 3rd LoD findings remediation
SPECIFIC CREDIT EXPERIENCE
Senior Credit Officer Level 1 or 2 approval authority covering large and complex underwritings and capital commitments
Experience in and exposure to global credit risk management standards
Ability to understand complex wholesale credit financing and product structures, and well-versed in capital markets products and retail lending
Ability to develop structural solutions to macro and regulatory issues, and collaborate on issues with various impacted parties
MANAGEMENT CAPABILITY
Demonstrates managerial maturity in looking out for the best interests of the enterprise including managing dual reporting lines
Proven ability to lead / integrate global organization
A strong mentor and coach – one with the ability to rally followers and embed / empower leads for each of the core pillars
Highly skilled communicator who ensures key messages are cascaded throughout the organization
BUSINESS / RISK PARTNERSHIP
Strong presence / ability to liaise with internal heads of businesses and risk portfolio leads and manage multiple front-line demands
Navigates organizational complexity and breaks silos
Creates and sustains a network of strong partnerships with the business in all segments & geographies and other risk functions
Provides well-reasoned, balanced assessments of risk/return trade-offs associated with transactions and client relationships
Proven track record of partnering with global peers in leveraging and implementation of best practices
Ongoing alignment with Institutional Credit Management to deliver a consistent Wholesale underwriting methodology across the Citi business lines.
QUALIFICATIONS:
15+ years risk/risk-related credit work experience in banking/financial institutions
At least a Level 2 Senior Credit Officer designation
Proven ability to effectively engage with internal control functions including Internal Audit and Fundamental Credit Risk as well as with external audit
Demonstrates strong ethics and integrity
Strong leadership. Dynamic, flexible, and with effective communication skills
Ability to see the ‘big picture’ in a complex environment
Can make decisions under pressure and short timeline
Excellent verbal & written communication skills. Active listening skills.
Demonstrated influencing and negotiating ability, resolve conflicts amongst various constituencies
Excellent presentation skills – adept at presenting effectively to audiences of many sizes and various constituencies
Multi-cultural and experience in working in multiple geographies of benefits
Job Family Group:Risk ManagementJob Family:Credit DecisionsTime Type:Full timePrimary Location:New York New York United StatesPrimary Location Full Time Salary Range:$250,000.00 - $500,000.00In 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:Jan 20, 2025Citi is an equal opportunity and affirmative action employer.Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm) .View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf) .View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeoaapolicy.pdf) .View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp%20EnglishformattedESQA508c.pdf)Citi is an equal opportunity and affirmative action employer.Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.