SVP, Risk Head of Mortgage and SME Lending
The Real Estate Risk Manager is accountable for management of complex/critical/large professional disciplinary areas. Leads and directs a team of professionals. Requires a comprehensive understanding of multiple areas within a function and how they interact in order to achieve the objectives of the function. Applies in-depth understanding of the business impact of technical contributions. Strong commercial awareness is a necessity. Generally accountable for delivery of a full range of services to one or more businesses/ geographic regions. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication may be necessary. Accountable for the end results of an area. Exercises control over resources, policy formulation and planning. Primarily affects a sub-function. Involved in short- to medium-term planning of actions and resources for own area. Full management responsibility of a team or multiple teams, including management of people, budget and planning, to include performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval. Responsibilities:
- Incorporates Subject Matter Expertise on real estate and capital markets.
- Executelocal andglobal project, strategic direction and facilitation across the Real Estate organization, including Policy, Procedures and Standards, Organizational Structure and Governance, Capacity Planning, Staffing, Communication, and Training.
- Ensure product compliance with internal policies and external regulatory guidelines, and that all lending policies and credit processes are aligning with the Firm's Risk Appetite Framework and Business Strategies which are best for the clients to enable sustainable growth .
- Closely monitor property market trends and ensure marked-to-market monitoring is timely performed. Understand appraisal industry practices and oversight onIndependentAppraisal Unitappraisal process to assure compliance with global credit policies (GCCFRP) and Real Estate Appraisal Valuation Policy and Standard issued by Office of the Chief Appraiser (OCA).
- Perform regular quality assurance checks (i.e. QAF, MCA, eDCFC etc.) on underwriting RACs, quality, supporting vendors (i.e. solicitors, appraisal value/reports etc.) and credit processes to assure execution in accordance with prevailing policy and control standards.
- Fully engaged in the various Business initiatives, regulatory reporting and capital adequacy exercise/projects i.e. CCAR, RRTS/Optima, ICCAP RCE etc. as well product system enhancement (i.e. Mortgage/Merchant Application Processing or Product systems).
- Ensure accurate and appropriate reporting of asset portfolio quality, and timely recognition of credit losses. Provide reporting to Global Risk Management on BASEL III and Loss Provisioning for mortgage.
- Responsible for the NCL Budget, reforecast of the mortgage portfolios and loss forecasting model/methodology management.
- Work closely with Business key stakeholders and Legal Counsel on loan documentations / agreements to ensure protection of the Banks' position in different default / fraud possibilities.
- Manage or oversight on the vendors supporting the Mortgage product (i.e. penal Appraisers, Solicitors and Insurance providers etc.) to ascertain their service are up to the Bank's and Regulator's standard.
- Negotiate and resolve issues as they arise across areas of theoversightand where they impact on other deliverables and time frame for completion.
- Contribute to the timely completion of portfolio reviews, product programs and portfolio stress tests for senior risk and business management.
- Interact with Audit and Risk Review personnel and with external regulators during their periodic reviews of Real Estate portfolios.
- Represent the firm to participate in the industry forum
- Assess, refine and expand the instructional design and development of Real Estate policy and procedure learning solutions for direct Real Estate staff, management, and constitutes/users throughout Citi ensuring.
- Stay ahead of the market with an understanding of the effective asset pricing, competitive loan structuring and market supply/demand component.
- Analyzes risk in terms of its potential impact on the portfolio quality, capital and P&L relevant to the business unit. Suggests alternatives to improve Citi's position/approach.
- Examines Key Risk Indicators that are relevant to the areas covered; understands how they are collected; identifies deviations for acceptable levels/trends.
- Assesses the spectrum of risks and how those risks arise from all new product offerings.
- Contributes good understanding of risk mitigation plans and is able to identify early problem detection and prescribed recommended remedial action planning.
- Negotiate (internally and externally) complex products and tools that maintain large impact to the Citi enterprise. Responds to tactics and keeps negotiations on track.
- Managing a team or multiple teams of Real Estate professions. Responsible for hiring, compensation, performance appraisals, staff development, training, etc
- This position requires a keen interest in both real estate and capital markets as well as affordable housing and community development.
- Communicate assignment requirements and bidding out appraisal or environmental assessment assignments to vendors. Determining reasonableness of fee quotes.
- Perform critical reviews of externally prepared commercial appraisals or environmental assessments.
- Appropriately assess 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, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- 15+ years of solid risk management experience preferably in Mortgage lending with proven track record in people management.
- Knowledgeable about risk systems infrastructure including key processes, coverage and data flows in order to identify risk effectively.
- Knowledgeable about different markets, products, strategies, analytical tools, financial and risk databases and associated risks, excellent ability to communicate and negotiate (verbal and written) in a cross functional environment. Real estate knowledge or experience.
- Self-initiative with strong control sense and forward compatible mindset.
- Adaptive to change and capable of multi-tasking.
- Proficiency in MS Word, Excel and Argus, as well as database management experience. Comprehensive understanding of applicable industry regulations and standards (i.e., USPAP, FIRREA, ASTM).
- Bachelor's/University degree, Master's degree preferred
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required. Job Family Group:
Risk Management Job Family:
Real Estate Risk Time Type:
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