Managing Director, Wealth Counterparty Credit and Portfolio Risk Management

About Wealth Risk Management and WPPM

The Wholesale Product & Portfolio Management (WPPM) team is a senior leadership function within Wealth Risk Management, responsible for the oversight of all portfolio and counterparty credit risk management activities within the Wealth business. This position is critical for minimizing credit losses and protecting the Citigroup franchise and its reputation.

As a Second Line of Defense (2LOD) function, this role provides robust, independent oversight, review, and challenge of the First Line of Defense (1LOD) portfolio and credit risk management processes and outcomes. The individual will ensure that credit risk is managed effectively and prudently across all wealth portfolios, safeguarding the firm's financial stability while supporting its overall business strategy.

Job Purpose

The Managing Director of Wealth Counterparty Credit and Portfolio Risk Management sets the tactical direction for the risk management of counterparty credit within Wealth. The role involves partnering with stakeholders to ensure risk frameworks are appropriately aligned to support business growth and sound risk management.

The successful candidate will be responsible for overseeing the two linked components of the role:

1. Portfolio Management: Defining and evolving existing frameworks and practices.

2. Counterparty Credit Risk (CCR) Oversight: Overseeing activities associated with Securities-Based Lending (SBL) and Capital Markets.

Key Responsibilities

The successful candidate will be responsible for a wide range of activities, including but not limited to:

Strategic Risk Management & Oversight

● Oversee the development, refinement, and implementation of end-to-end frameworks for risk measurement, ensuring regulatory compliance and financial stability.

● Enhance and oversee limit methodologies, manage risk, participate in regulatory interactions, and enhance controls as part of the comprehensive oversight of Wealth wholesale credit risk.

● Represent and coordinate the 2LOD in risk appetite engagement, manage the review and challenge of risk statements and assessments, identify top risks, and coordinate regular, independent reviews of portfolio health.

● Provide 2LOD oversight of the SBL transformation efforts, working with the 1LOD to develop the necessary design and tools to address concentrated position cases.

● Enhance Net Stressed Exposure (NSE) and Potential Future Exposure (PFE) measurement flows, establish a limit-setting and breach remediation framework, and ensure CCR policy compliance.

● Review and challenge the development of the Margin Call process for CCR products and identify operational risks in capital markets transactions.

Leadership & Governance

● Preside over a consistent and uniform control environment, ensuring control activities are consistently applied.

● Inspire a compelling and aspirational vision, demonstrating optimism and resilience while leading the organization through challenges and periods of potential uncertainty.

● Foster a culture that rewards breakthrough ideas, encourages enterprise-first thinking, and prioritizes the execution of key business objectives.

● Uphold the highest standard of compliance and ethical behavior, adhering to all applicable laws, rules, and regulations.

● Champion a culture of exceptional controls, collaborative partnerships, and high performance to deliver added value for Citi and its clients.

Business & Portfolio Performance

● Proactively identify and seize opportunities to enhance business performance, effectiveness, and efficiency through strategic process improvements and talent management initiatives.

● Steer portfolio performance by implementing robust monitoring and diagnostic strategies to optimize returns and manage risk.

● Assess risk judiciously during business decision-making processes, keeping the firm's reputation at the forefront of all considerations to minimize potential harm.

● Drive consistency in the application of risk frameworks and portfolio management within the Wealth Risk Clusters.

Qualifications

Experience

● 15+ years of progressive experience in risk management within the financial services industry.

● 8-10+ years of managerial experience, with a proven track record of leading, developing, and challenging multiple professional teams.

Education

● Bachelor's/University degree is required.

● Master's degree is preferred but not required.

Skills

● Deep Industry Expertise: Comprehensive knowledge of the finance industry, including competitor products/services. Expertise in counterparty credit risk is preferred.

● Risk Management Acumen: Profound understanding of risk management principles and their application, including controls, risk assessment, and review/challenge of 1LOD activities.

● Regulatory & Compliance: Extensive understanding of the laws, rules, and regulations that govern finance industry policies and practices.

● Leadership & Strategic Thinking: Demonstrated leadership and team management capabilities for overseeing strategic development. Ability to devise strategic plans, guide teams, and align actions with the strategic direction of the function.

● Business Acumen: Strong business acumen with a history of identifying and capitalizing on performance improvement opportunities, refining processes, and developing talent.

● Communication & Influence: Exceptional communication, negotiation, and influencing skills, with the ability to engage with a myriad of senior stakeholders, challenge their perspectives when required.

● Portfolio Management: Demonstrated competence in portfolio management, specifically in monitoring, diagnosing, and critically assessing portfolio performance to manage risk.

● Ethical Conduct: A strong awareness and established history of upholding the highest ethical standards in personal and business practices

Analytical Thinking, Credible Challenge, Governance, Policy, Procedure, and Regulation, Portfolio Analysis, Risk Management Lifecycle.