• Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Citi-US
  • 2019-04-20

Global Spread Products - Residential Finance - Vice President

Global Spread Products - Residential Finance - Vice President

  • Primary Location: United States,New York,New York
  • Education: Bachelor's Degree
  • Job Function: Institutional Banking
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: Yes, 10 % of the Time
  • Job ID: 19015510


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.

Citigroup's Residential Finance group, a unit within Global Spread Products, is seeking to add a Vice President to its existing team. The business provides debt facilities to our institutional clients, collateralized by non-agency assets including seasoned performing, re-performing and non-performing loans, new origination prime and near prime loans, HELOC and closed end second mortgages, mortgage servicing rights, small balance commercial (SBC) loans and single family rental and I-Buyer (SF) assets.  Existing clients are well capitalized non-bank originators, hedge funds, private equity funds, servicers, single family operators and REITs with expertise in originating, aggregating, and/or managing residential mortgage assets.

Residential Finance Vice President responsibilities will include:
  • Collaborate with senior bankers to serve as primary contacts for clients in the space, including providing new and existing clients both capital markets and balance sheet funded financing solutions within established business procedures and infrastructure to manage risk capital
  • Coordinate client visits and calls throughout transaction life to ensure transparency and access to pertinent information
  • Lead junior bankers in the management of the day-to-day activities required for established facilities, including the administration and monitoring of funding requests, monthly processes, initial and ongoing diligence, and collateral documentation
  • Manage extensive qualitative and quantitative diligence conducted to evaluate prospective and existing clients:
    • Consult with internal partners across the various Risk and Product Control functions
    • Prepare materials on counterparty's management team, business model, market and assets for further analysis
    • Review of underwriting and credit policies and procedures, including quality control and information security
    • Obtain and compare information on servicing portfolio and related exposure
  • Oversee surveillance of existing facilities and prepare materials for ongoing facility renewal process and approvals, including:
    • Monitor performance to ensure compliance with internal and external policies
    • Continue conversations internally, engaging with Risk, to ensure coordination and information flows to all parties
    • Receive and analyze financial statements to monitor businesses' health
    • Monitor current issues including market segment, competition, business model, regulatory environment, and legal landscape
  • Review and negotiate facility documents (Master Repurchase Agreements and Loan and Security Agreements) to ensure consistency across product lines as it relates to asset eligibility criteria, representations and warranties, covenants, default, remedies, performance triggers and servicer termination provisions
  • Collaborate with senior team members, the investment bank and other Markets groups to identify prospective counterparties in the space and collaborate to generate incremental revenue related to clients across the business


  • Undergraduate Degree; MBA preferred or commensurate professional experience
  • 6-8 years of minimum credit lending related work experience
  • Expertise in the mortgages and RMBS, SBC, and SF markets, including various structured credit facility structures and transaction process flows
  • Knowledge of asset secured financings, corporate credit, regulatory capital, bankruptcy remote structures, special purpose vehicles and other structural mechanisms designed to isolate a specific asset or cash flow
  • Ability to lead small teams and manage multiple transactions on different timetables, work under pressure and meet deadlines
  • Self-motivated problem-solver, detail-oriented, strong work ethic, resourceful and organized team player
  • Excellent communication and interpersonal skills required
  • Proficient in Bloomberg
  • Superior Microsoft Office skills
  • Series 7, 63 and 79 (to be obtained within a specified timeframe from start date)