Institutional Credit Management In-business QA

3 weeks ago

London, United Kingdom Citi Full time

Institutional Credit Management’s (“ICM”) objective is to provide an integrated “end-to-end” credit underwriting, identification, measurement, management, monitoring and reporting for wholesale credit businesses across the enterprise. Institutional Client Group (ICG) In-Business Quality Assurance is an integral part of the ICM organization.

The ICG In-Business Quality Assurance function (QA) verifies that established standards and processes are followed and consistently applied. ICG Management uses the results of the quality assurance reviews to assess the quality of the group's policies, procedures, programs, and practices as relates to the management of wholesale credit risk. The results help management identify operational weaknesses, risks associated with the function, training needs, and process deficiencies.

The ICM Head of In-Business Quality Assurance reports results of Quality Assurance Reviews (QARs) to management of the respective ICG business area, Independent Risk, and critical partner stakeholders and regulators.

This role reports directly to the ICM In-Business QA, Function Head - Counterparty Credit Risk.

**Key Responsibilities**:

- Drive the development and implementation of a comprehensive program of IBQA coverage related to financing and securitisation activities in Markets across the first line of defence, working in close collaboration with business management and leveraging the product/functional expertise to ensure seamless delivery of the IBQA plan.
- Provide effective credible challenge to Business Region Heads and Portfolio Managers as regards credit memoranda and process quality to ensure that weaknesses in such processes are identified and escalated as appropriate.
- Establish and drive processes that enable wholesale credit risks within Citi are effectively identified, measured, monitored, and controlled, consistent with the bank’s risk appetite and all policies and processes established within the risk governance framework.
- Accountable for leading the Quality Assurance team which is responsible for execution of the following:

- Consistent and objective assessments during QARs
- Subsequent follow-up on corrective actions that were raised during QARs
- Synthesize and prepare quarterly Quality Assurance Scorecard Reports to ICG business management that communicate and measure results and identify negative trends and potential solutions
- Update and create QAR templates and continuously improve processes and infrastructure by exploring and evaluating new data sources, tools, and capabilities
- Interact with the respective senior management across ICG, in order to ensure that quality assurance protocols are adequate for all portfolios
- Provide oversight and guidance over the assessment of complex issues, structure potential solutions and drive effective resolution with stakeholders.
- Assist in the establishment of WCR IBQA policies, procedures, risk assessment and controls to drive effective QA coverage and standards
- Stay abreast of relevant changes to rules/regulations and other industry news including regulatory findings.
- Act as a change agent coaching staff in areas with noted deficiencies and sharing any observed best practices
- Ensure ongoing and timely feedback and coaching of ICG Quality Assurance staff to sustain a strong control culture and an unwavering commitment to excellence in execution
- Attract, develop and retain top quality assurance staff
- Support the Global Head of WCR IBQA on internal projects and initiatives
- Support WCR IBQA Voice of the Employee (VOE) as well as diversity and inclusion initiatives
- Travel (less than 10%)

**Skills/Competencies**:
Credit / Counterparty Credit / Quality Assurance:

- Demonstrable quality control / quality assurance experience, including relevant years in banking, credit risk management, internal audit, loan review or quality assurance review function at an investment or large commercial bank
- Deep knowledge of risk management and control frameworks related to Counterparty Credit Risk management or another Financial Risk discipline
- Ability to understand complex counterparty credit product structures including derivatives and well-versed in securitisation and credit financing products as well as credit analysis, underwriting, legal documentation etc. Financing and funding solutions including TRS, CLOs, ABS, Municipal financing / Residential Financing and securitisation, Prime and Hedge fund financing etc.
- Detailed insights over key counterparty credit risk themes such as limit framework, Stress testing including under industry best practices, Wrong way risk, exposure modelling including PFE, collateral (ISDA / CSA) including key regulations and CVA
- Proficient understanding of policies and procedures with the ability to execute change seamlessly
- Exceptional knowledge and experience on designing and implementing robust Quality Assurance framework, from initial assessment of concerns and monito

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