Citi continues to enhance its business control and governance framework by building out Institutional Credit Management (ICM), a new function in the 1st Line of Defense, to house and consistently manage credit risk activities performed across its Institutional Client Group organization. ICM’s objective is to provide integrated “end-to-end” credit underwriting, identification, measurement, management, and monitoring for wholesale credit risk across the enterprise. Within ICM, the CPE Underwriting function (ICM-CPE UW) provides analysis, greenlight, underwriting, first-line-of-defense credit approval and subsequent credit monitoring across all ICG wholesale credit businesses including Banking, Capital Markets, and Advisory (BCMA), Global Structured Products, Financings, and Securitizations (GSP-F&S), Treasury & Trade Services (TTS), Markets, and Securities Services (MSS).
The ICM Hedge Fund (HF) Portfolio Manager SVP / VP is responsible for managing Citi’s credit risk to a portfolio of the firm’s most complex and large Hedge Fund/Private Equity relationships. Primary activities include credit due diligence, credit reviews, credit approvals and monitoring of the portfolio within the risk appetite of the overall business strategy.
Responsibilities:
- Work closely with Citi’s business lines across all products, with a particular focus on Prime Brokerage, as well as 2nd LoD Risk Management
- Lead the client credit relationship in partnership with sales and trading and 2nd LoD credit risk.
- Engage in extensive client-interface through the due diligence meetings, negotiation of credit structures and documentation, including ISDA’s, Derivatives Clearing, FCM and Repo documents
- Conduct client diligence and prepare Credit Approval Memo (CAM) and risk rating scorecards.
- Evaluate and provide approval for trading activities, including recommending margin requirements and structural enhancements
- Accountable for evaluating the risk of hedge fund portfolios and managing credit risk related to client lending, trading, clearing, prime brokerage, and custody operations
- Monitor compliance with trading agreements (NAV and/or performance ATEs, disclosure requirements) and Limits excesses
- Recommend remediation plan for Limits and ATE breaches and remediate breaches in accordance with the plan
- Report on limit excesses and limit excess aging
- Review and monitor margin disputes, and establish Margin tolerance threshold for select clients where applicable
- Assist with addressing FCR, IA and regulatory reviews and questions
- Assist the Team Head in presentations and industry reports given to senior management, and regulatory reporting requirements
- Provide leadership and guidance to more junior staff
- Making prudent risk evaluations while making business decisions, taking into account the firm’s image and protecting Citigroup, clients and assets by ensuring adherence to relevant laws, regulations, and polices, act with ethical integrity, and transparently handling, reporting and managing control issues
Qualifications:
- 5 to 10+ years of experience in financial services and risk management required
- Strong interest in the Hedge Fund /alternative asset management sector
- Extensive years of previous work experience in related field and ability to work independently on complex risk requests
- Strong communication skill
- Good understanding of Capital Markets trading and lending products, particularly in derivatives, structured and other complex products traded by Hedge Funds
- Quantitative and intuitive skills in the risks inherent in capital markets products, transactions, and positions
- Strong grasp of current technologies including stress testing
- Real sense of how to support business growth, within risk appetite parameters
- Motivated and confident to work within a dynamic risk sector
- Attention to detail unaffected by high pressure situations
- Highly proficient in Microsoft Excel, PowerPoint, Word, and Access
- Role is evaluated depending on the candidate's skillset and qualifications and can be SVP/VP.
Education:
- Bachelor's degree/University degree or equivalent experience
- Master's degree preferred
