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- Tasks: Lead underwriting for a multi-billion dollar asset securitization portfolio and manage credit risks.
- Company: Join Citi, a global leader in financial services with a commitment to innovation and diversity.
- Benefits: Enjoy competitive pay, flexible work options, and a vibrant company culture.
- Why this job: Gain hands-on experience in structured finance while making impactful decisions in a dynamic environment.
- Qualifications: 5+ years in credit or portfolio management; strong analytical skills and attention to detail required.
- Other info: Citi values diversity and offers equal opportunities for all applicants.
The predicted salary is between 72000 - 108000 £ per year.
The candidate will hold a critical role within the Structured Products Financing and Securitization EMEA Institutional Credit Management (ICM) Underwriting group administering a multi-billion dollar portfolio of asset securitization transactions financed primarily through the asset-backed commercial paper market. The candidate will gain experience across multiple products within the portfolio, which consists of various securitized asset classes (including auto, credit card, unsecured consumer loans, middle market and mortgage loans).
The candidate will:
- Prepare credit approval (transaction and/or annual review) and quarterly memos for initial transactions; assist in facility renewals, due diligence and required processes for new deals.
- Monitor the ongoing compliance of assigned deals with the documented financing terms and conditions, portfolio performance and financial triggers and make appropriate recommendations with the aim of identifying and mitigating credit risks.
- Assist with classification and risk rating processes, decisions and monitoring.
- Review servicer reports for accuracy, investigate unusual data trends, identify deteriorating asset performance, and keep abreast of industry and market trends and customer-specific events.
- Assist with special projects including stress testing, portfolio concentration analysis, internal audit/FCR, Risk Rating processes, Credit Policies and Credit Programs across product groups.
- Play a supportive role in transaction restructuring, amendment, consent and waiver request with recommendation to Origination, Senior Credit Officer, and Independent Risk via Approval Memorandum.
- Assist in analysis and reporting of Basel parameters.
- Maintain organized credit files for credit, regulatory, and compliance purposes. Perform quality control of the approval memos to ensure accuracy and completeness of input.
Qualification and Experience
The candidate should have:
- 5+ years of credit, portfolio management or product experience (preferably in structured finance/securitization) in a financial institution, rating agency, financial guarantor, or asset management firm.
- A strong interest in structured products and credit analysis.
- Knowledge of loan (syndicated / bilateral) product and business, including an understanding of legal loan documentation, loan / funding mechanics, deal structure, funds flows, etc.
- Credit risk and underwriting experience.
- On track for Senior Credit Officer designation is a plus.
- Strong Microsoft Office skills. Modeling experience is a plus.
- Developed analytical and decision-making capabilities including the ability to identify, escalate, and propose and execute solutions to complex problems.
- Strong attention to detail - the team will have responsibility for due diligence and documentation of transactions to ensure that all risk and business points are covered.
- Oral and written communications skills enabling the candidate to effectively interact with internal and external constituents of all levels.
- The ability to work independently to meet deadlines and initiate ideas with other members of the team, Front Office and Independent Risk to mitigate risk and maximize portfolio returns.
Contact Detail:
Citi Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land VP of Underwriting - Citi
✨Tip Number 1
Familiarise yourself with the latest trends in structured finance and securitisation. Understanding the current market dynamics will not only help you during interviews but also demonstrate your genuine interest in the role.
✨Tip Number 2
Network with professionals in the credit management and underwriting sectors. Attend industry events or join relevant online forums to connect with people who can provide insights and potentially refer you to opportunities at Citi.
✨Tip Number 3
Brush up on your analytical skills, particularly in credit risk assessment and portfolio management. Being able to discuss specific methodologies or tools you've used in past roles can set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with compliance and regulatory requirements in credit transactions. Highlighting your understanding of these aspects will show that you're well-equipped to handle the responsibilities of the VP of Underwriting role.
We think you need these skills to ace VP of Underwriting - Citi
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly understand the responsibilities and qualifications required for the VP of Underwriting position at Citi. This will help you tailor your application to highlight relevant experiences.
Tailor Your CV: Customise your CV to reflect your experience in credit, portfolio management, and structured finance. Emphasise your analytical skills and any relevant projects that demonstrate your ability to manage complex financial transactions.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also expresses your enthusiasm for structured products and credit analysis. Mention specific experiences that align with the job description to make a strong case for your candidacy.
Proofread and Edit: Before submitting your application, carefully proofread all documents for spelling and grammatical errors. Ensure that your writing is clear and professional, as attention to detail is crucial for this role.
How to prepare for a job interview at Citi
✨Understand the Role Thoroughly
Before the interview, make sure you have a solid grasp of the responsibilities and expectations for the VP of Underwriting position. Familiarise yourself with asset securitisation transactions and the specific products mentioned in the job description, such as auto loans and credit card securitisations.
✨Showcase Your Analytical Skills
Given the emphasis on credit risk and underwriting experience, be prepared to discuss your analytical capabilities. Bring examples of how you've identified and mitigated risks in previous roles, and be ready to explain your decision-making process in complex situations.
✨Prepare for Technical Questions
Expect technical questions related to structured finance and credit analysis. Brush up on loan documentation, funding mechanics, and deal structures. Being able to speak confidently about these topics will demonstrate your expertise and readiness for the role.
✨Communicate Effectively
Strong communication skills are crucial for this role. Practice articulating your thoughts clearly and concisely. Be prepared to discuss how you've effectively interacted with various stakeholders in past positions, as this will be key in your potential new role.
