Global Head of Financial Institutions and

3 weeks ago

London, United Kingdom Citi Full time

Financial Institutions and Counterparty Credit (“FICC”) within Wholesale Credit Risk is responsible for proactively managing Citi’s credit exposures across the globe through a coverage model of regional and industry specialists. The portfolio consists of banks, broker/dealers, insurance companies, funds, hedge funds, amongst other counterparty types. Credit-sensitive products and services include loans, derivatives and other capital markets products, trade finance, clearing and settlement, cash, and securities services.

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 Purpose**

Implement the vision and strategy for FICC globally including adoption and adherence to the WCR framework and policy which is underpinned by collaboration with our key partners in the first line of defense including Institutional Clients Group (ICG), Citi Global Wealth (CGW), and Institutional Credit Management (ICM). Primary activities include second line of defense oversight, review and challenge across Financial Institutions (FI) relevant credit activities and ensuring the FI portfolio remains within the risk appetite of the overall business strategy. Additionally the Head of FICC is expected to oversee and govern Counterpart Credit Risk (CCR) through continued implementation of CCR metrics, exposure controls, and reporting across Potential Future Exposure (PFE), Stress Testing, and Risk Factor Sensitivities. All measurements are used for internal risk management purposes focused on transactions and counterparties that give rise to CCR including, but not limited to, those which trade derivatives, securities financing, and cash trading.

**Key Responsibilities**:

- Lead and manage a global division of 150+ senior risk professionals who oversee the Financial Institutions industries as well as portfolio level counterparty credit risk management and monitoring
- Work in conjunction with the Risk Mgmt. Execution Council (RMEC), WCR leadership team, and WCR peer group to provide second line of defense oversight, review and challenge over our lending and counterparty credit activities
- Represent FICC in Citi wide senior governance forums including, but not limited to, Global Risk Mgmt. Committee (GRMC) and Risk Mgmt. Committee (RMC)
- Sponsor and run internal FICC governance such as the CCR Management Council and relevant subcouncils e.g., DSFT Councils
- Establish and continually monitor policies, procedures, and controls necessary to comply with new or changed laws and regulations relevant to FICC e.g., SR 11-10
- Demonstrate strong capital markets and technical expertise to ensure that risk is appropriately identified, measured and managed across the FICC portfolio and within the risk appetite of the overall business strategy
- Perform pre trade advisory of large complex transactions and enable real time reporting for market events & legal entity oversight
- Be fluent on the quantum, trend, and composition of CCR exposure across the relevant WCR industries
- Ensure consistent enhanced risk principles are applied for similar risks across ICG & CGW
- Increase integration with firm wide processes such as enterprise level rapid stress testing and capital planning
- Lead FICC through critical matters that impact the division including regulatory exams, internal and external audits, and Credit Risk Reviews; oversee and sponsor the implementation of related remediation
- Oversee timely, clear and concise responses to ad hoc requests from senior management, auditors and regulators
- Manage and motivate the personnel within the division at large and ensure proper development of FICC management team members & relevant successors

**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 managemen

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