• Competitive
  • Wilmington, DE, USA
  • Permanent, Full time
  • Citi-US
  • 2018-10-20

Head of Risk Capital, Regulatory Initiatives & Competitive Benchmarking - US Branded Cards Risk Management

Head of Risk Capital, Regulatory Initiatives & Competitive Benchmarking - US Branded Cards Risk Management

  • Primary Location: United States,Delaware,Wilmington
  • Other Location: United States,New York,Long Island City
  • Education: Bachelor's Degree
  • Job Function: Risk Management
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: Yes, 25 % of the Time
  • Job ID: 18065953


Description

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi's Mission and Value Proposition  explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

Citi Branded Cards North America (N.A.) is the market leader in the US credit card industry with ~ $90 B in receivables across 25+ million customer relationships. With a pre-eminent global brand and distribution, Branded Cards N.A. maintains its leadership position by delivering industry-leading products, advanced services and payment systems that address clients' evolving needs. The Branded Cards N.A. business is comprised of Citi Branded Cards Proprietary and Partner Card products including Costco, American Airlines, AT&T and Expedia.
Integral to Citi Cards' success is strong and effective Risk Management that allows us to serve our customers while also protecting Citi's interests. Brands Risk Management division comprises of 440 highly qualified individuals spread across the globe.
The Head of Risk Capital, Regulatory Initiatives & Competitive Benchmarking for the US Branded Cards Risk Management will be responsible for leading a best in class, dynamic Risk organization that drives sustainable growth within our Risk Appetite, supported by a thorough understanding of portfolio credit risk and macroeconomic drivers in order to effectively forecast financial performance and mitigate potential risk, ultimately enabling the business to set adequate goals and expectations.
A seasoned and dynamic leader will lead this group, collaborating closely with Risk and Business product leads, Independent Risk, Collections and Finance on the following critical components which are instrumental to the health, soundness, and continued growth of a cards business with ~$90 B in loans:
CCAR
Continue to advance CCAR forecasting methodology and integrate CCAR models into business decisioning and planning, Risk Appetite, Loss Forecasting and LLR. Manage successful annual quantitative and qualitative CCAR assessments and submissions.
CECL
Lead the Branded Cards transition to CECL methodology. This includes modeling oversight, business impact simulation, transition plans and representing Branded Cards across a range of senior stakeholders including P&L leads, Finance, Credit Policy, Independent Risk, Audit, Compliance & Regulators.
Risk Capital
Ensure capital reporting, capital modeling and capital adequacy are well understood within the Branded Cards organization and capital decisions are proactively embedded in business decisions.
Macroeconomic & Emerging Risk Monitoring, Competitive Insights, Portfolio Monitoring
Maintaining robust monitoring of macroeconomic trends and emerging risks, competitive landscape and cards portfolio performance to generate insights that will inform Risk Appetite, financial forecasting and business decisioning.
This individual will manage a team of managers, employee staff and offshore staff. This position reports to the Head of Risk Appetite & Financial Forecasting -US Branded Cards Risk Management. 
Key responsibilities of this position include: 
  • Leading a best in class Risk organization ultimately responsible for driving sustainable growth and strong risk management for the US Cards Business across the function's core responsibility areas:
    • CCAR
    • CECL
    • Risk Capital
    • Macroeconomic & Emerging Risk Monitoring
    • Competitive analysis
    • Portfolio Analysis & MIS/Reporting
    • PERA (investment management process for new acquisition & ECM programs)

  • Bringing transformative thinking to the organization to develop new expertise or restructure existing processes so they are robust, efficient and a clear fit for purpose
  • Maintaining in-depth understanding of the general purpose cards and payments industries and competitive environments.
  • Partnering closely with Risk and Business product leads, Independent Risk, Collections and Finance to ensure transparency and escalation of economic and performance trends and forecasted impacts to facilitate proactive changes in strategy.
  • Continuously identifying opportunities to improve business performance, effectiveness and efficiency through process improvements and talent management.


Qualifications

  • 15+ years of relevant risk management or financial services experience required
  • 7+ years of people management experience, including experience as a manager of managers
  • Demonstrated success in managing risk policy/strategy through the economic cycle and/or in various environments; protecting and growing the business as it enters and exits economic stress
  • Experienced risk manager with full knowledge of card product P&L dynamics and the interaction of consumer behavior, product configuration and market/economic environment
  • Hands-on experience with portfolio performance monitoring and diagnostics
  • Bachelor's Degree, MBA/MS preferred; Education includes demonstrated knowledge in a financial or analytical field including engineering, mathematics, statistics
  • Strong knowledge of the applicable laws and regulations and the current environment which govern Credit Card lending policies and practices

Leadership Competencies:
  • Capability and experience with establishing strategic vision and driving change to achieve business targets
  • Senior executive interactions - can present credibly to both large and small groups
  • Strong interpersonal skills and ability to influence at all levels of management
  • Displays flexibility to work well with varying personal styles
  • Takes personal responsibility to lead by example. Understands and appreciates diverse backgrounds. Demonstrates strong ethics
  • Develops strong relationships within Risk Management and also cross-functionally
  • Superior leadership and team building skills, with a strong track record for attracting and developing high performing risk management talent
  • Articulate and highly effective communicator, with an energetic and approachable style
  • Capable of effectively managing a significant team size dispersed across multiple geographical locations, with strong ability to performance manage and continually elevate performance standards
  • Contributes to a positive work environment; shares knowledge and supports diversity