In-Business QA, Function Head - Counterparty Credit Risk - Director - (Hybrid)

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 the ICM In-Business Quality Assurance Director for Counterparty Credit Risk, ICM.
Key Responsibilities:

• Accountable for the development and implementation of a comprehensive program of IBQA coverage related to Counterparty Credit Risk horizontal processes cross 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.
• Ensure 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.
• Ensures 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
• Provide oversight and guidance over the assessment of complex issues, structure potential solutions and drive effective resolution with stakeholders.
• Proactively manage relationship with multiple internal and external stakeholders, including senior risk managers and government regulators. Utilise communication and leadership skills to influence a wide range of senior internal and external audiences, providing impactful, valuable, and ongoing input through active interactions with stakeholders and formal participation at key committees and management initiatives, where applicable.
• Assist in the establishment of WCR IBQA policies, procedures, risk assessment and controls to drive effective QA coverage and standards. Promote knowledge sharing and innovation; promulgate best practices across IBQA, including update and create QAR templates.
• 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%)

Knowledge/Experience:

• 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 obtained through proven progressive experience in leading international financial organizations
• Deep understanding 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.
• Expert understanding of pricing and risk measurement methods for the above products
• Expert insights over key counterparty credit risk themes such as Stress testing, Wrong way risk, exposure modelling including PFE, collateral (ISDA / CSA) and margining including key regulations and CVA.
• Exceptional knowledge and experience on designing and implementing robust Quality Assurance framework, from initial assessment of concerns and monitoring strategy, execution of scripts and procedures, development of housing infrastructure and database maintenance, reporting to senior management of observed findings, and continuous improvement, working closely and independently to the Global Head of WCR IBQA and Regional Directors
• Proficient understanding of policies and procedures with the ability to execute change seamlessly
• Demonstrable grasp of counterparty credit risk covered process, to evaluate findings within the Quality Assurance process, determine materiality, and partnering with in-line makers and checkers for ongoing improvement, problem detection, and sustainable remediation
• Significant experience in preparing presentations for seniors
• Outstanding awareness and adherence to the control environment including Quality Assurance and Quality Control

Skills/Competencies:

• Strategic orientation to ensure the ICM organization continues to be positioned as a thoughtful and proactive partner on driving best practices to support safety and soundness within ICM and Citi
• Demonstrated success as a manager including a track record of building high performing teams
• Proven culture carrier
• Impeccable interpersonal skills, with the ability to build relationships and exert influence with and without direct authority
• Solid organizational skills with ability to manage time and prioritise effectively with little to no supervision
• Exceptional written and verbal communication skills, with the ability to communicate clearly and concisely to audiences of varying levels of seniority
• Seasoned Microsoft Office (Word, Excel, and PowerPoint) skills

Qualifications:

• BA/BSc or higher degree in Business (MBA), or any other related subject

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Job Family Group:
Risk Management -------------------------------------------------
Job Family:
Business Risk & Controls ------------------------------------------------------
Time Type:
Full time ------------------------------------------------------
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