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Citi’s Risk Management organization oversees risk-taking activities and assesses risks and issues independently of the front line units. We establish and maintain the enterprise risk management framework that ensures the ability to consistently identify, measure, monitor, control and report material aggregate risks.
We’re currently looking for a high caliber professional to join our team as Senior Vice President, Counterparty Credit Risk based in Singapore. Being part of our team means that we’ll provide you with the resources to meet your unique needs, empower you to make healthy decision and manage your financial well-being to help plan for your future. For instance:
- We believe all parents deserve time to adjust to parenthood and bond with the newest members of their families. That’s why in early 2020 we began rolling out our expanded Paid Parental Leave Policy to include Citi employees around the world.
- We empower our employees to manage their financial well-being and help them plan for the future.
- We have a variety of programs that help employees balance their work and life, including generous paid time off packages.
Job Background:
Counterparty Credit Risk is one of the largest and most dynamic portfolios within Citigroup. It spans all the capital markets products across all counterparties including Financial Institutions, Corporates, Public Sector, Central Counterparties, Commercial Bank and Private Bank clients and is part of 2nd Line of Defense independent risk function Financial Institutions Group and Counterparty Credit Risk team under Banking and International Risk.
Reporting to: Director, Asia Pacific (APAC) Head of Counterparty Credit Risk (CCR)
Job Purpose:
Under the guidance of APAC Head of Counterparty Credit Risk, design and implement the strategy and governance framework for Counterparty Credit Risk across Citi APAC. CCR function includes portfolio management of CCR exposures across all Credit portfolios, oversight on CCR frameworks, pre-trade advisory on complex derivatives and addressing any remediation plans with the goal of bringing consistent thought process and actions to the CCR management in the region.
In this role, you’re expected to:
- Help implement and operate the 2nd Line Counterparty Credit Risk and controls framework for Citi APAC. Direct the execution strategy for Pre-Settlement Exposure (PSE), Net Stress Exposure (NSE) and various CCR measurements standards across Citi APAC businesses in partnership with Credit Officers, Risk Analytics and Technology and key stakeholders in 1st Line of Defense including Banking, Markets and Institutional Credit Management
- Design and enhance new and existing frameworks, related standards, and procedures for CCR risk management. Partner with a wide range of stakeholders including Global CCR, Risk, Analytics and Technology and Business
- Ensure CCR frameworks, practices and policies applied to all market products, including all Over-The-Counter (OTC) Derivatives across Equity, Foreign Exchange (FX), Fixed Income, Commodities, Credit derivatives; Prime Brokerage, Futures and OTC Clearing, Securities Financing Transactions and Cash trading across all Credit portfolios
- Actively monitor CCR portfolio across business, risk stripes and legal vehicles on the quantum, trend, composition, and work in conjunction with Credit officers and Business partners to ensure CCR exposures remain within risk appetite.
- Focus on early warning and proactive problem recognition based on markets indicators and portfolio concentrations and timely escalate issues to senior management for any action or resolution
- Help 2nd line of defense Credit officers in pre-trade review, challenge, and what-if analysis for new complex derivatives activity with application of CCR frameworks for effective and efficient risk on-boarding
- Support Head of APAC CCR for CCR risk management council and sub-councils on various CCR frameworks related to PSE, Stress Testing etc. Prepare and present communications to senior management and forums on new initiatives
- Support APAC CCR head in regulatory interactions on the CCR portfolio. Manage increasing demands of regulatory oversight on CCR including ensuring timely and accurate inputs to regulators
- Oversee tracking and timely completion of any action plans related to any regulatory, internal audit or self-identified CCR issues in APAC and the remediation associated with CCR issues
- 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 a successful candidate, you’d ideally have the following skills and exposure:
Knowledge/Experience:
- Candidates should have a minimum of 10+ years of experience in a large Financial Institution in Counterparty Credit Risk
- Strong understanding of Counterparty Credit Risk including Exposure and Initial Margin models, Stress testing, Wrong-Way Risk, Clearing and Settlement Risk
- Strong knowledge of Markets businesses and products across OTC, Prime Brokerage, Clearing and Security Financing /Repo and across range of assets classes and lines of business
- Strong technical expertise of complex derivative structures and understanding of associated first order/second order risks
- Knowledge of Credit documentation and various Credit master agreements, legal terms related to netting/collateral/margin mechanics
- Broad understanding of current market and regulatory environment as applicable to Counterparty Credit Risk
Skills/Competencies:
- Excellent organizational and communication skills (written and verbal)
- Superior analytical and quantitative skills and be able to quickly distil transactions/business propositions to key risks
- Strong project and process management skills and the ability to work collaboratively with a wide group of cross-functional stakeholders across levels
- Demonstrated ability to lead meetings/calls, to listen to other points of view, provide appropriate challenge, influence partners and to take decisions with a clear rationale
- Regularly communicates and ensures key messages are cascaded throughout the broader teams
- Demonstrates integrity and sound independent risk judgment and 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
Qualifications:
- Educated to quantitative/finance master's degree standard or equivalent
- Exceptional candidates who do not meet these criteria may be considered for the role, provided they have the necessary experience and skills.
Working at Citi is far more than just a job. A career with us means joining a family of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.
Take the next step in your career, apply for this role at Citi today
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
