Head of Counterparty Credit Risk

1 week ago

London, Greater London, United Kingdom Citi Full time

Job Purpose:

Define and implement the strategy and governance framework for Counterparty Credit Risk (CCR) across Citi.

CCR Governance includes the 2LOD review and challenge in a variety of CCR related committees (PSE Council, DSFT, Stress Testing; PPL, etc.) with the goal of bringing consistent thought process and actions to the CCR exposures.


Job Background/Context:

Counterparty Credit risk is one of the largest and most dynamic portfolios within Citi/ICG. The CCR portfolio accounts for $183Bln of OSUC across Citi of which $176Bln resides within the ICG. It spans all the capital markets products in scope.

Key Responsibilities:

  • Lead and manage a team of risk professionals to determine and set CCR risk appetite and governance of CCR exposures
  • Create and build a CCR governance framework, policies and procedures, and operating model
  • Demonstrate strong capital markets and technical expertise to ensure that risk is appropriately identified, measured and managed accordingly
  • Be fluent on the quantum, trend, composition of CCR exposure and work in conjunction with risk and business partners to establish overall CCR and WWR risk tolerance limits
  • Oversee governance of the PSE and DSFT Councils and PPLs
  • Devise a stress testing approach to presettlement exposure so that it can be used as another lens into the CCR portfolio
  • A proactive approach to managing and motivating the team and searching for process improvements
  • Engage with regulators and other constitutes on counterparty credit and financial institutions discussions
  • Clear and responsive communication with senior management, auditors and regulators on all aspects

Knowledge/Experience:

  • Strong capital markets product knowledge and analytical experience is required
  • Strong partnering skills and the ability to work collaboratively across the organization; sound fundamental credit and portfolio management skills

Skills:

  • Excellent organizational and communication skills (written and verbal)
  • 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
  • Ability to lead meetings/calls, to listen to other points of view, provide appropriate challenge and to take decisions with a clear rationale

Qualifications:

  • Educated to degree standard or equivalent; MBA preferred

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
  • Selfstarter, motivated, aspirational
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 Family Group:

Risk Management

-
Job Family:

Credit Decisions

-
Time Type:

Full time

  • Citi 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.

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