The Risk Policy Sr Officer II / Director manages a senior team credit risk professionals within the Customer Credit Engagement Oversight (CCEO) function in US Personal Banking Independent Risk, a second line of defense (2LOD) organization focused on oversight and effective challenge for all retail consumer lending portfolios within the US and internationally.Requires thorough understanding of strategic direction of the retail / consumer lending businesses within the US and International landscapes, combined with a solid conceptual/practical grounding in both the function's oversight responsibilities and credit and collections operations. An expert understanding of the industry, direct competitors' products and services, and emerging technologies is necessary in order to challenge commercial objectives of the business which includes credit cards, residential real estate mortgages and home equity lines, and unsecured personal loans. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Determines approach to implementing functional strategy: responsible for executing functional strategy in area managed and accountable for end results, budgeting, planning, policy formulation and contribution to future strategy of the function. Impact reflects strategic influence on the business and interaction with other functions or businesses. Full management responsibility for team including management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval. This position is an integral member of the functional leadership team of the CCEO function.Responsibilities:
Oversee the 1st line of defense (1LOD) credit operations functions executing against Retail Credit Risk (RCR) Policy relative to the risk disciplines of Consumer Credit Engagement across Credit Cycle (Credit Initiation, Existing Customer Management, Collections, and Recoveries, including Asset Sales).
Establish best in class scalable firm-wide policies, standards, processes, metrics, MIS and technology platforms with the goal to improve Customer Experience, Risk Governance and Risk Controls across Customer Engagement processes.
Manage large global, regional or single-country reviews throughout the Citi organization for US Personal Banking retail lending, reporting conclusions to senior management, seniors in line risk and business regulators. Conclusions relate to credit risk controls, portfolio risk status and trend, emerging risks, risk appetite, policies, staffing, and others pertaining to Credit Operations. Develop strategy and execute deep dive testing and loan-level reviews, including leading team of data experts and reviewers. Oversight goal is to challenge first line of defense processes and controls to identify risk exposures and non-compliance with Retail Credit Policy.
Monitor and evaluate portfolios, strategies, and credit risks; assess the effectiveness of credit risk controls of assigned businesses. Engage and influence Credit Operations process design and execution across the disciplines with active engagement with Risk, Operations and Operational Risk Management teams across businesses and first and second line. Improve the efficiency of the Credit Operations processes by providing direction and suggestions to 1LOD in-Business Risk and Operations leadership while ensuring effectiveness and control elements are not sacrificed.
Review and approve Corrective Action Plans (CAPS) for appropriateness, monitor and validate any CAPS put in place by USPB to address concerns resulting from oversight reviews and ongoing Business Monitoring. Propose pragmatic solutions to risk and controls problems
Develop always-on competitive intelligence to identify best practices relative to strategies and tactics across the Consumer Credit Engagement continuum, leveraging industry consultants, financial releases, and other available data. Challenge 1LOD's strategic roadmaps relative to best-in-class capabilities.
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.
Ensure that assessments of portfolios, credit risk processes, risk ratings and classifications, staffing models and others as related to oversight activities are consistent and properly reported to senior management
Provide direction to working groups across all the Consumer Credit Engagement areas.
Contribute to regular reviews with regulators and internal senior stakeholders (Board, Control Forums, Risk Committees) in area of specialization.
Provide information and counsel to the head of Customer Credit Engagement and the Independent Risk Management senior leadership team on Consumer Credit Engagement areas.
Improve the depth and breadth of senior Collections management bench strength by identifying, developing and recruiting senior credit risk managers.
Qualifications:
15+ years financial services experience including detailed credit experience. Experience in underwriting and collections in multiple consumer / retail asset classes preferred.
Fully conversant in credit policy matters with strong quantitative analytical skills.
Skilled at analyzing root causes of problems and anticipating “horizon” issues
Ability to coordinate and manage large review teams
Strategically minded with track record of execution excellence
Hands-on orientation with the demonstrated ability to set up internal processes to communicate and resolve issues
Demonstrated ability to establish relationships and partner effectively with peers and various groups
Proven financial acumen, critical thinker with ability to provide an impartial, consultative and solutions-oriented approach
Consistently detail-oriented, goal-oriented and able to work in a team
Excellent communication skills required in order to influence a wide range of audiences. Senior executive presence. Ability to communicate complex issues in concise executive summaries and via presentations.
Prior success working in a large, highly-matrixed and complex organization
Technical knowledge, in-depth knowledge of Profit and Loss (P&L) and understanding of end to end business operating systems.
Education:
Bachelor’s/University degree, Master’s degree preferred. Strong preference for degree in quantitative field such as engineering, finance, economics.
Job Family Group:Risk ManagementJob Family:Risk Framework and PolicyTime Type:Full timePrimary Location:Irving Texas United StatesPrimary Location Full Time Salary Range:$170,000.00 - $300,000.00In 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:Feb 18, 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.