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Credit Risk Manager (Insurance focus) - Director

United Kingdom, London · Job Posted May 16, 2026
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Job Description

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

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