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For Companies At a Glance
- Tasks: Manage credit risk for European insurance clients and drive process improvements.
- Company: Join Citi's dynamic Financial Institutions Group with a focus on innovation.
- Benefits: Generous holiday allowance, private medical insurance, and performance bonuses.
- Other info: Opportunities for professional growth and access to learning resources.
- Why this job: Make impactful decisions in a collaborative environment while shaping the future of credit risk.
- Qualifications: Extensive credit risk experience in the European insurance sector and strong analytical skills.
The predicted salary is between 80000 - 100000 £ per year.
Credit Risk Manager role in Citi's Financial Institutions Group (FIG) and Counterparty Credit Risk (CCR) team within Risk Management. Primary coverage for European insurance companies; the team also covers banks, broker dealers, FinTech and FMI clients as workload dictates. The role focuses 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 aims to manage and mitigate potential credit losses while supporting sustainable business growth.
What you’ll do
- Partner with 1LoD to risk manage a 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 the assigned client portfolio.
- Critically evaluate assigned portfolio(s), identifying and assessing emerging risks.
- Monitor outsized exposures including CCR factor sensitivities and understand drivers of Citi’s exposure to these clients.
- Escalate early and 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 requests 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.
- Ensure 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.
What we’ll need from you
- Solid and extensive Credit Risk experience with the European insurance sector, including life, non-life and composite insurers.
- Understanding of the European regulatory landscape, topical issues and the key risk considerations associated with these clients.
- Ability to multi-task to tight deadlines while managing stakeholder expectations.
- Experience with 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 and effective presentation of complex information.
- Advanced skills in mediating disputes and advocating for organizational interests with high-level stakeholders.
- A strong team player and collaborative mindset with the ability to challenge established norms and pioneer new approaches.
- 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 or Master’s degree preferred.
What we can offer you
- Paid Parental Leave
- Generous holiday allowance starting at 27 days plus bank holidays; increasing with tenure
- Discretionary annual performance-related bonus
- Private medical insurance packages to suit your personal circumstances
- Employee Assistance Program
- Pension Plan
- Special discounts for employees, family, and friends
- Access to learning and development resources
Credit Risk Manager (Insurance focus) - Director in London employer: Citi
Contact Detail:
Citi Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Credit Risk Manager (Insurance focus) - Director in London
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, especially those already at Citi or similar firms. A friendly chat can open doors and give you insights that might just land you an interview.
✨Tip Number 2
Prepare for those interviews by diving deep into the specifics of credit risk management in the insurance sector. Brush up on your knowledge of European regulations and be ready to discuss how you can tackle emerging risks.
✨Tip Number 3
Showcase your thought leadership! Be ready to share innovative ideas on improving credit risk processes. This will demonstrate your proactive mindset and ability to contribute to Citi's growth.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. Plus, it shows you’re serious about joining the team!
We think you need these skills to ace Credit Risk Manager (Insurance focus) - Director in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Credit Risk Manager role. Highlight your experience in the European insurance sector and any relevant skills that match the job description. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about credit risk management and how you can contribute to our team. Be sure to mention specific experiences that relate to the responsibilities outlined in the job description.
Showcase Your Communication Skills: Since exceptional communication is key for this role, make sure your application reflects that. Use clear and concise language, and don’t shy away from demonstrating your ability to articulate complex information effectively. We love a good storyteller!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you’re considered for the role. Plus, it’s super easy – just follow the prompts and submit your materials!
How to prepare for a job interview at Citi
✨Know Your Credit Risk Inside Out
Make sure you brush up on your knowledge of credit risk management, especially in the European insurance sector. Be prepared to discuss specific examples of how you've assessed risks and made decisions in previous roles. This will show that you understand the nuances of the industry and can bring valuable insights to the table.
✨Familiarise Yourself with Regulatory Landscapes
Since the role involves navigating the European regulatory landscape, it’s crucial to be well-versed in current regulations and compliance issues. Research recent changes or challenges in the sector and be ready to discuss how they might impact credit risk management strategies.
✨Demonstrate Your Analytical Skills
Prepare to showcase your ability to evaluate complex issues through quantitative and qualitative analysis. Bring examples of past analyses you've conducted, particularly those that had a significant impact on decision-making. This will highlight your analytical prowess and thought leadership in credit risk management.
✨Showcase Your Collaborative Spirit
This role requires a strong team player who can work collaboratively with various stakeholders. Think of instances where you've successfully partnered with others to achieve a common goal. Highlight your communication skills and how you’ve navigated challenging discussions to advocate for organisational interests.