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The Head of FMI Risk Management will be the senior risk manager for the global FMI Risk team of some 6 to 8 professionals located in the US, Europe and Asia. The candidate will manage the team and interface with all stakeholders in ensuring Citi’s FMI risk management approach remains best in class. The incumbent will also have the leadership role in interfacing with the Citi senior risk Leadership team, the Citigroup Board, FMIs, regulators, and central banks.
Key Responsibilities:
- Own Citi’s FMI Risk Management policies and practices and ensure that these fully conform to regulatory requirements and remain current and relevant at all times
- Bring a holistic view across all risk stripes and risk management activities for the FMI portfolio
- Lead the current effort to update risk management practices across multiple stakeholders
- Act as an approver in the new deal review process when FMI risks are involved, with focus on potential risks, risk mitigation, and any regulatory engagement requirements
- Approve new FMI memberships and material changes in existing FMIs. FMI Risk team responsibilities include setting the Membership Risk Rating (MRR) and Obligor Risk Rating (ORR), and preparing loss estimates as well as ongoing reviews on a periodic basis
- Serve as a direct liaison with regulators (e.g., OCC, FRB, Bank of England, HKMA) on FMI risk matters
- Be the public face of Citi in the industry: represent Citi and FMI Risk in Industry Group Risk Forums: ISDA (International Swaps and Derivatives Association), FIA (Futures Industry Association), IIF (Institute of International Finance), and others as required. Maintain an extensive network of senior risk managers both at FMIs and peer institutions
- Work with the relevant risk leads at Citi Material Legal Entities (MLEs) to help meet requirements for FMI/CCP Exposure reporting and monitoring to the respective MLE regulators
- Oversee annual and interim portfolio reviews of FMI memberships and credit relationships, currently totaling $75bn
- Assess the impact of emerging risks for existing & new memberships
- Coordinate with 1st line of defense, Compliance, and Regulatory Legal to ensure potential impacts related to regulatory requirements are socialized and understood
Qualifications:
Knowledge/Experience:
- In-depth knowledge of financial markets and products such as securities, derivatives (OTC derivatives) and/or cash clearing. Experience / subject matter expertise of CCP/CSD workings is preferred
- Experience interacting with senior management, regulators, and internal audit as well as managing regulatory examinations and audit reviews
- Experience in driving own book of work and delivering against multiple initiatives
- Senior Credit Officer (or equivalent)
- Proven experience of managing teams and influencing partner teams towards a common goal
- Undergraduate degree, master’s degree preferred
Skills and Abilities:
- Excellent oral and written communication skills; must be articulate and provide direction with judgement and authority to enable effective validation with senior stakeholders
- Able to provide leadership and influence in matrix organization
- Ability to lead a large and complex transformation of a key risk management area in a large financial institution
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Job Family Group:
Risk Management
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Job Family:
Portfolio Credit Risk Management
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Time Type:
Full time
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