CEP Stress Testing Manager - Credit Risk
Description About Citi
- Primary Location: Ireland,Leinster,Dublin
- Education: Master's Degree
- Job Function: Risk Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 18077606
Citi, a leading global bank, has approximately 200 million customer accounts and a presence in more than 160 countries and jurisdictions worldwide. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
Citi Europe plc (CEP) is the main EU banking entity for Citi in EMEA. It has a presence in 22 countries in Europe, covering several key business lines including Markets and Securities Services, Treasury and Trade Services, Corporate and Investment Banking, and Consumer, with Revenue of approx. $2bn and total assets of $50 billion. Department Overview
CEP Independent Risk Management, headquartered in Dublin, acts as the second line of defence for the holistic management of risk across all business lines and locations of CEP. Given the size and importance of CEP in the European Banking arena, CEP is considered a European "Significant Institution" " by the European Central Bank and is directly supervised by the Single Supervisory Mechanism in Frankfurt. Team/Position Overview
CEP Risk Analytics sits within the CEP Independent Risk Management function with the Head of Risk Analytics reporting to the CRO. The Head of CEP Risk Analytics is responsible for legal vehicle regulatory capital models and stress testing.
Working with the Head of CEP Risk Analytics, the CEP Risk Analytics Manager will be the point of contact within the team in relation to all the Wholesale Credit and IFRS 9 models for internal and external Stress Tests. The role will involve leading Credit Risk Stress Testing including the ICAAP and regulatory stress testing and the person will be responsible for ensuring that the CEP Credit Risk Profile is adequately captured, stressed, and challenged. It will also involve quantitatively challenging the output of Group-level risk models and assumptions, and ensuring that Stress Test and Economic Capital models are fit-for-purpose. Key Responsibilities
- Lead the Credit Risk work stream including selection of the appropriate models for credit risk measurement, ensure the model is fit for purpose, review and monitor portfolio stability and understand the output of the models. This will involve close co-operation with the credit risk managers within CEP to understand portfolio dynamics.
- Point of contact for all Wholesale Credit models and associated governance processes including model lifecycle.
- Work with the existing risk modelling teams globally to enhance reporting to ensure the existing wholesale credit models, both stress testing and economic capital, are fit for purpose for the legal entity and consider the lens of European Regulation as applicable.
- Understand the driver of the underlying Credit model and associated impact on Impairments, RWA and Capital.
- Support the CEP Head of Risk Analytics Testing in ensuring CEP's stress testing programme is in line with best practice and compliant with all applicable regulatory standards.
- Provide analytical support to risk specialists in developing stress testing, including further integration of stress testing in Risk Appetite and decision making.
- Enhance the quarterly stress testing process to provide enhanced credit risk measurement of the portfolio including inter and intra concentration risk, single name and industry concentration.
- Support the CEP Head of Risk Analytics in evaluating Legal Vehicle Stress Testing risk controls and frameworks.
Experience and Skills
- Post-graduate education in Finance, Financial Risk Management, or other quantitative discipline .
- Extensive years of relevant credit risk experience in an international banking organisation with a diverse product set. Knowledge of EBA Stress Testing would be advantageous.
- Stature and standing to impress the EXCO and Risk Committee of the bank and readily partner with Trading, Business and Risk Management colleagues at a regional level.
- Knowledge of EU regulation (Capital Requirements/IFRS9).
- Strong interpersonal and communications skills (written / verbal) at all organisational levels.
- Ability to express complex or detailed issues simply so that others understand principles of risk issues despite complexity of models or volume of information.
- Sufficient grasp of relevant detail, to escalate when appropriate and to question uncertainties.
- Strong tenacity and resilience.
What we Offer
- Strong interpersonal and analytical skills.
- Demonstrate integrity.
- Ability to multitask, good time management skills.
- Excellent computer skills.
- Strong influencing skills.
- Strong planning and execution skills.
Exciting opportunity to lead within a fast paced global banking environment. As the lead on the approach to stress testing in the entity there is great autonomy and scope to influence key decisions around the measurement of risk in the portfolio. The role will give the candidate exposure to engage with senior management in risk, finance and the business ensuring all three are brought together in their understanding of the portfolio dynamics.
As well as a competitive salary and consideration for a yearly discretionary bonus Citi offer:
- Competitive paid annual leave.
- A non-contributory pension scheme with strong employer contributions.
- Life assurance cover.
- Citi fully covers medical insurance for all employees with generous day to day benefits as well as hospital cover.
- Citi also supports a further education policy.
- Wellness program - on site Occupational Health Centre plus a series of informative talks on topical health related subjects.
- Tax Saver and Bike to Work Schemes.
- Opportunity to work in a flexible environment where the business can support it.
At Citi, we pride ourselves on our ability to offer employees a number of lifestyle benefits including an on-site restaurant, coffee dock and shop, a subsidised gym and subsidised social clubs and societies.
Citi boasts a large diversity framework and network which encourages inclusion in the workforce as well as participation in a wide variety of initiatives and events. We also pride ourselves on our engagement with the local community from a Corporate Social Responsibility perspective.
Citi offers employees a competitive benefits package as well as extra additional perks such as corporate discounts and memberships.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience. Valuing Diversity:
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success. Citi is an Equal Opportunities Employer