The regulatory risk group 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:
* responsible for providing risk strategic analytics, information management across citibank products and reports to senior management. Responsible for communicating to executive management implications of existing and opposed regulation and developing potential responses. This may include regulations related to specific product or macro / systemic regulation, including standards to comply with basel ii / iii, mifid, u.s. Fed, treasury, fdic and regulations from other central banks and regulatory authorities.
* regulatory risk project management ownership (business requirements, analysis and testing) for delivery of regulatory solutions. (i.e.. Cecl, part 30 core capabilities initiatives, stress test and ccar regulatory requirements, etc.)
* analyzes new risk-related guidelines, best practice standards, rules and regulations
* directs the approach to answering questions and involve appropriate risk functions in citi with audits and regulators.
* project management of various deliverables for portfolio risk review chapter. Involvement in rationalization of eucs (end user computing) used for portfolio risk reviews.
* significant interaction with a wide range of senior bank and risk management colleagues, as well as external stakeholders such as regulators / auditors.
* initiates feedback session with client to understand strength and focused areas. Leverages feedback to influence change throughout organization.
* identifies and sponsors the development opportunities for key individuals that help them gain broad exposure and experience. Influence organization initiatives to develop talent, knowledge and refine skills of organization. Modeling positive reward and recognition behavior consistently. Influences or leads efforts (e.g. succession planning, project assignments) that support organization and employee development. Recruits top talent, and commits to developing. Ensures diverse talent pipeline at all levels.
* 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.
qualifications:
* 10+ years relevant experience
* should have excellent proficiency in microsoft office – particularly excel (metrics and data analysis), powerpoint (presentation decks), and word (writing and editing procedural and technical documentation).
* broad understanding of classifiable and delinquency managed credit and operational policies and procedures, including a command of the collateral management process.
* thorough knowledge of financial and risk reporting as well as experience from the business and/or technical area desired.
* familiarity with regulatory landscape facing global banks. Ideally, have worked in banking industry or regulators institutions.
* previous experience in managing regulatory inspections and audits within a financial services company.
* professional ability and presence to interact with senior bank, regulatory and audit management.
* project management knowledge and experience working with diverse group of stakeholders to achieve milestones and deadlines.
* proven relationship management skills with ability to deepen relationships and build partnerships across the business, executive leadership and key functional support areas like government affairs, communications, legal, compliance, control, in-business risk and independent risk.
* project management experience with the proven ability to develop project plans and drive a diverse group of stakeholders to achieve milestones and deadlines
* proven ability to manage multiple, concurrent large scale projects from ideation through testing and implementation.
* required licensing/registration: series 4, series 7, series 9, series 10, series 24series 63, series 65
education:
* 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.
this position will cover model validation activities so experience is required on this function
model validators bau activities
validation
* during model validation, model validators verify that model is performing as expected, in line with its' design objectives and business uses. In doing so, model validators also review steps taken and documented by the model sponsors/developers.
* model validator must thoroughly document the validation of each model through the completion of all applicable sections in the appropriate model validation report (mvr). The mvr sets out the documentation requirements for model validation and must demonstrate effective challenge to the model being validated.
effective challenge
* as part of the effective challenge, the model validator must evaluate the quality and coverage of the model development process and cover items, as appropriate to the type of model being validated, including the following:
conceptual soundness, including quality and extent of developmental evidence
data quality
data relevance for bank's portfolio and / or market conditions
model specification relevance and quality
numerical and / or computational techniques
comparison to alternative theories and approaches
results of sensitivity analysis and other quantitative testing
qualitative information and support for judgment used in model development
model stability across input ranges
model accuracy and acceptable model performance for intended use
limitations and remediation actions
model development document clarity and transparency
proposed ongoing monitoring and governance plan with metrics and thresholds
ongoing monitoring, including process verification and benchmarking
outcomes analysis, including backtesting
magnitude and significance of interconnectivity with other models
performance versus benchmark models and data, where relevant
appropriateness of model implementation testing performed
data
* model validator will review the data governance policy – model data template submitted by model sponsor for completeness. Model validator reserves the right to review and question data sources, data elements, and data quality control and concerns for reasonableness. Model validators will review the information provided to determine impact on the model, if any, and next steps.
risk rating
* the model validator will review the information submitted for the determination of criticality of use, exposure tier and risk rating.
limitations
* if required, model validator must set limitations, assign a severity rating, and give follow up and guidance until closing.
ongoing monitoring
* the model validator must review the completed ongoing monitoring report provided by the model sponsor
annual model review (amr)
* model validator must review the information as part of the effective challenge associated with amr
model changes
* model validator must provide assessment about the sufficiency of the model change control employed by model sponsor.
interaction
* with model developers
* with model sponsors
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job family group:
risk management
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job family:
regulatory risk
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time type:
full time
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most relevant skills
analytical thinking, constructive debate, escalation management, financial analysis, issue management, management reporting, policy and procedure, policy and regulation, risk controls and monitors, risk identification and assessment.
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other relevant skills
for complementary skills, please see above and/or contact the recruiter.
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