Head of Credit Policy & Remedial Management

Job Description

About Citi

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.

Citibank 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 & Securities Services, Treasury & Trade Services, Corporate & Investment Banking, and Consumer, with Revenue of approx. $2bn and total assets of $60 billion.

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 under the Single Supervisory Mechanism.

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.

Team/Position Overview

The CEP Head of Credit Policy & Remedial Management is a key role within the Credit Risk team responsible for the strategic direction of credit policy within the bank, the assessment and interpretation of new credit regulations and the identification / management of any remedial management cases.

This role is part of the Senior Management Team within Credit Risk with oversight of credit activities covering the Head Office and all branches. This role will co-chair the CEP Impairment Workgroup, will be a member of the CEP Credit Committee and will have frequent interaction with Bank Executive Management, as well as, the Board, Risk Committee, and External Stakeholders.

Key Responsibilities

• Maintain CEP Credit and Remedial Management policies, along with CEP Credit Risk Framework. Ensure core credit governance documents are kept aligned with new banking guidelines / regulations. Prepare and present annual update of credit governance documents to the Board Risk Committee / Board.
• Assume a key role in project teams looking at ad-hoc requests such as credit underwriting, stress testing, credit model implementation, IFRS 9, CRD 5 / CRR 2.
• Lead the design and implementation of remedial management practices in CEP, including co-chairing the Impairment Workgroup. Work closely with CEP Finance Department in the management and reporting of provisions, non-performing exposures and IFRS 9.
• Work with other Risk and Banking Seniors, including with the Citi Institutional Remedial Management team, to manage any CEP remedial exposures through to full restructuring or insolvency process, including appropriate carrying values.
• Risk management of the non-performing portfolio including monitoring performance of designated accounts and forecasting exposures for capital and asset quality purposes. Review and approve valuations from IRM Analytics Team.
• Lead the delivery of risk reports/commentary to the Board, Risk and other relevant Committees along with Regulators and Senior Management.

Experience and Skills

• Experience in fundamental credit assessment techniques and policies of a global financial institution
• Ability to analyse corporate financial statements, business plans, across a range of industrial sectors and financial products
• Experience with corporate and debt structuring with understanding of bank loan documentation
• Fully conversant in credit policy matters with proven sound judgment.
• Understanding of EU / EBA credit regulations and guidelines, regulatory experience or relevant experience in a similar role is desirable.
• Minimum of 10 years of financial institutions credit or related experience.
• Very strong formal English language writing ability both word documents and presentations.
• Attention to detail coupled with an ability to deliver a holistic evaluation.
• Ability to interact with senior management across a large banking group.

Qualifications

• Post-graduate education in Finance, Financial Risk Management, or other quantitative discipline.
• Senior Credit Officer (SCO) or equivalent qualification.

Competencies

• Strong interpersonal and analytical skills.
• Self-motivated.
• Demonstrate integrity.
• Excellent computer skills.
• Strong influencing and negotiation skills.
• Good planning and execution skills.
• Strong presentation and communication skills.

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