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Primary coverage for the role is European insurance companies and therefore proven credit experience of this industry is a prerequisite. The FIG & CCR team also has responsibility for banks, broker dealers, FinTech and FMI clients, hence the ability to adapt to cover other portfolios from a risk perspective as the workflow dictates, is also necessary. The Credit Risk role is focused on 2LoD review, challenge and decisioning of client and/or transaction level underwriting proposals received from 1LoD incorporating detailed counterparty credit and/or transaction analysis. This role manages and mitigates potential credit losses, safeguarding the company's financial stability and supporting sustainable business growth.
Job Responsibility:
Partner with 1LoD to risk manage designated client portfolio in a proactive and timely manner
Provide review, challenge and credit decisioning for the assigned portfolio of FIG clients and/or recommendations to more senior credit officers as needed
Independently assess the accuracy and appropriateness of risk ratings and classifications for assigned client portfolio
Critically evaluate assigned portfolio(s) identifying and assessing emerging risks
Be alert to outsized exposures including CCR factor sensitivities for designated portfolio understand the drivers of Citi's exposure to these clients
Escalate early and often, maintain a culture of no surprises
Drive continuous improvement of credit risk processes and standards for assigned entities
Identify opportunities for simplification and improvement in credit related processes including the use of Citi AI tools
Oversee and validate corrective action plans for identified issues, addressing concerns from control functions
Contribute to periodic Insurance related portfolio health reviews for EMEA clients
Lead ad-hoc asks for industry specific data and/or analysis as requested by senior 2LoD risk management, in a timely manner, engaging with 1LoD and the Business as necessary
Attend meetings with external regulators in respect of the Insurance portfolio as required
Promote a collaborative work ethic with stakeholders including ICM, Banking and the Business
Contribute to periodic reviews of the insurance CAM templates/guidance and risk rating scorecard
Assist the Global FIG&CCR Head and/or 2LoD Global Insurance lead in orchestrating regional and/or global tasks using innovative techniques and methodologies
Collaborate with other credit risk families to support the best outcome for Citi, sharing and implementing best practices
Make informed business decisions, considering risk assessment, the firm's reputation, and compliance with laws, rules, and regulations
Enforce compliance with applicable laws, rules, and regulations, upholding policy and ethical business practices
Manage and report control issues with full transparency, using advanced judgment and innovative techniques
Requirements:
Solid and extensive Credit Risk experience of the European insurance sector including life, non-life and composite insurers
An understanding of the European regulatory landscape, topical issues and the key risk considerations associated with these clients
Ability to multi-task often to tight deadlines whilst managing stakeholder expectations
Experience of Global Markets products including complex transactions and associated legal documentation
Demonstrated thought leadership, developing new techniques, methodologies, and approaches for credit risk management
Expertise in evaluating complex issues with substantial impact, utilizing in-depth quantitative and qualitative analysis
Exceptional communication skills, including clear articulation, effective presentation of complex information, and empathetic response
Advanced skills in mediating disputes and advocating for organizational interests with high-level stakeholders
A strong team player and collaborative mindset
Capability to challenge established norms and pioneer new approaches in complex domains
Proven ability to guide decision-making processes and implement technical solutions effectively
Awareness of private credit and private equity as it pertains to the Insurance sector would be advantageous
Bachelor's/University degree or Master's degree preferred
Nice to have:
Awareness of private credit and private equity as it pertains to the Insurance sector would be advantageous
Master's degree preferred
What we offer:
Generous holiday allowance starting at 27 days plus bank holidays
increasing with tenure
A discretional annual performance related bonus
Private medical insurance packages to suit your personal circumstances
Employee Assistance Program
Pension Plan
Paid Parental Leave
Special discounts for employees, family, and friends
Access to an array of learning and development resources