SVP Credit & Insurance Risk Analysis Officer (Hybrid)
About the position
Financial Institutions and Counterparty Credit (FICC) within Wholesale Credit Risk (WCR) is responsible for proactively managing Citi's credit exposures to NAM based insurance companies and their subsidiaries across the globe through a coverage model of regional and industry specialists. This team is similarly responsible for managing credit exposures for BDCs (Business Development Companies). Credit-sensitive products and services include loans, bespoke structured transactions, derivatives and other capital markets products, trade finance, clearing and settlement, cash, and securities services. We are currently looking for a suitable candidate to join our FICC NAM Insurance team as a Senior Vice President/Credit Risk Officer graded C14, based in New York, New York. The position will report into the Head for FICC NAM. As a strategic professional, you will closely follow the latest trends in your field and adapt them for application within your job and the business. You will provide independent second line risk review & challenge' and final approval/recommendations for an assigned regional credit portfolio, maintaining a thorough understanding of the content and aggregate risks within the portfolio, trends, and other key statistics. Your role will involve escalating emerging trends and specific risks in a diligent and timely manner, ensuring the covered insurance portfolio remains within the risk appetite of the overall business strategy. You will partner with other Risk Units such as ICM (Institutional Credit Management) and interface with coverage bankers or markets colleagues. Additionally, you will contribute to client diligence for new clients and complex transactions, help lead the development of insurance-specific credit risk underwriting policies and practices, and conduct analysis as needed to provide direction to partners on the appropriate response to external events, such as changes to insurance regulations, accounting standards, and financial markets. You will actively participate in ongoing portfolio reviews at the Regional as well as Credit Product level, oversee Counterpart Credit Risk (CCR) through continued monitoring of CCR metrics and exposure controls, and assist ICM in the development of appropriate procedures around approvals, underwriting, and portfolio functions. Pro-actively reaching out to risk and business partners will be essential in creating a shared learning environment between remote locations and the front office. You will also be responsible for appropriately assessing 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, and applying sound ethical judgment regarding personal behavior, conduct, and business practices.
Responsibilities
Provide independent second line risk review & challenge' and final approval/recommendations for an assigned regional credit portfolio.
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Maintain a thorough understanding of the content and aggregate risks within the portfolio, trends, and other key statistics.
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Escalate emerging trends and specific risks in a diligent and timely manner.
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Ensure the covered insurance portfolio remains within the risk appetite of the overall business strategy.
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Partner with other Risk Units such as ICM (Institutional Credit Management) and interface with coverage bankers or markets colleagues.
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Contribute to client diligence for new clients and complex transactions.
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Help lead the development of insurance specific credit risk underwriting policies and practices.
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Conduct analysis as needed and provide direction to partners on the appropriate response to external events.
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Interface with Internal Audit, Fundamental Credit Review, and other control functions.
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Actively participate in ongoing portfolio reviews at the Regional as well as Credit Product level.
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Oversee Counterpart Credit Risk (CCR) through continued monitoring of CCR metrics and exposure controls.
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Assist ICM in the development of appropriate procedures around approvals, underwriting, and portfolio functions.
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Pro-actively reach out to risk and business partners, creating a shared learning environment between remote locations and the front office.
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Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation.
Requirements
12+ years credit experience required
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Thorough credit and analytical skills, knowledge of credit products
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Preferably a Senior Credit Officer (SCO) or someone close to obtaining this title
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Extensive experience in Financial Institution risk management required with a focus on the insurance sector
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Deep technical expertise and credit risk experience with a broad exposure to banking and trading products as well as their relevant documentation
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Excellent communication and diplomacy skills required in order to negotiate internally
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Bold in approach to approve sound credit and highly collaborative work style
Nice-to-haves
Benefits
Medical, dental & vision coverage
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401(k)
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Life, accident, and disability insurance
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Wellness programs
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Paid time off packages including planned time off (vacation), unplanned time off (sick leave), and paid holidays
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