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- Tasks: Join our Underwriting team to manage credit risk and analyse client portfolios.
- Company: Citi is a leading global bank, committed to innovation and excellence in financial services.
- Benefits: Enjoy competitive pay, career growth opportunities, and a diverse work environment.
- Why this job: Be part of a new team shaping risk management strategies in a dynamic banking environment.
- Qualifications: Experience in credit risk management and a degree in finance or related fields required.
- Other info: Programming skills in Python or R are a plus but not mandatory.
The predicted salary is between 72000 - 108000 £ per year.
Individual will work as part of the Underwriting team under the global Institutional Credit Management (ICM) group. The position covers the Real Money Funds portfolio and will be reporting to the local Head of Funds Underwriting.
Institutional Credit Management (ICM) is a critical component of Citi's First Line of defence for wholesale and counterparty credit risk management and works with Independent Risk teams to ensure best-in-class risk and controls, as well as client responsiveness. Key responsibilities of the group include credit analysis and approvals, documentation, risk identification, exposure monitoring and stress testing. ICM coordinates with credit management groups across ICG businesses to ensure full alignment on business and regulatory goals, as well as consistency and best practices where appropriate. Underwriting is a global team within ICM responsible for measuring, monitoring and controlling counterparty risk. To fulfil this role, a risk professional is required who has experience in credit risk management and market risk management areas, and has got training in finance, mathematics, or other quantitative fields.
Key Responsibilities:
- Approve credit reviews as a first line of defence approver (Credit Officer CO/Senior Credit Officer SCO designation) including assessment of portfolio risk, liquidity of client positions, credit limits and risk appetite ratios.
- Manage credit exposures to EMEA clients across derivatives, financing and direct lending products. Majority of the portfolio is NBFIs (Regulated Funds/Leveraged Funds, Pension Funds, Asset Managers).
- Advise and approve large transactions or deals that require individual risk assessment.
- Work with Independent Risk colleagues on risk mitigation at both inception of transactions and on an ongoing basis.
- Monitor client portfolios to ensure that risks are controlled - primarily credit risk arising from market sensitive exposure and liquidity risk.
- Work with front office and clients to analyse client portfolios, propose counterparty risk limits and work with Credit risk management on getting limits approved.
- Perform daily and weekly risk analysis and reporting on existing client portfolios as well as customized risk analysis on new client portfolios.
- Communicate key findings to senior management and participate in in-business risk forums as appropriate.
Developmental Value:
- The team is new giving opportunity to expand the role as the function grows.
- Learn about risk management and financing products more broadly.
- Influence the strategic direction of the Bank from a risk management perspective.
- Build solid market/credit risk experience as we use cutting-edge risk models and techniques.
Required Knowledge and Experience:
- Experience in analysing and managing Counterparty credit risk is a requirement, preferably at major financial institutions.
- Knowledge of regulated funds, pensions funds and asset management industry and related counterparty credit risk management experience.
- Relevant product knowledge across multiples asset classes including rates, equities, credit and commodities.
Skills:
- Strong analytical skills with good attention to detail and a demonstrated aptitude for tackling analytical issues.
- Risk management of financial products such as derivatives and financing transactions. Ideally the candidate will have a good grasp of financial risk calculations (VaR, Stress Testing).
- Ability to work well with cross-functional teams from Business, Credit, Legal, Operations and Compliance.
- Strong written and verbal communication skills.
- Sound risk and business judgment.
- Programming skills in Python, R or other statistical languages is a plus, but not mandatory.
Education:
- Bachelor's/Master's degree in mathematics, science, finance/economics or a related field.
- An MBA, CPA, or CFA preferred and formal Credit Training is a plus.
Competencies:
- Good communicator.
- Entrepreneurial.
- Strong analytical skills.
- Strong problem solving abilities.
- Excellent written and oral communication skills.
- Ability to work independently as well as in a team environment.
Contact Detail:
MN Climate Innovation Finance Authority (MNCIFA) Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Vice President - Underwriter at Citi
✨Tip Number 1
Familiarise yourself with the specific credit risk management practices at Citi. Understanding their approach to counterparty risk and how they align with regulatory requirements will give you an edge in discussions during interviews.
✨Tip Number 2
Network with current or former employees in the Institutional Credit Management group. They can provide insights into the team dynamics and expectations, which can help you tailor your conversations and demonstrate your fit for the role.
✨Tip Number 3
Stay updated on market trends related to regulated funds and asset management. Being able to discuss recent developments or challenges in these areas will showcase your industry knowledge and commitment to the role.
✨Tip Number 4
Prepare to discuss your analytical skills and experience with financial products in detail. Be ready to share specific examples of how you've managed credit risk in previous roles, as this will highlight your suitability for the Senior Vice President position.
We think you need these skills to ace Senior Vice President - Underwriter at Citi
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Senior Vice President - Underwriter position at Citi. Familiarise yourself with the key tasks such as credit analysis, risk management, and client portfolio monitoring.
Tailor Your CV: Customise your CV to highlight relevant experience in credit risk management and market risk management. Emphasise your analytical skills, attention to detail, and any experience with financial products like derivatives and financing transactions.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the role and how your background aligns with Citi's needs. Mention specific experiences that demonstrate your ability to manage counterparty credit risk and work with cross-functional teams.
Highlight Relevant Skills: In your application, be sure to mention any programming skills in Python or R, as well as your educational background in mathematics, finance, or economics. These are valuable assets for the role and should be clearly stated.
How to prepare for a job interview at MN Climate Innovation Finance Authority (MNCIFA)
✨Understand the Role Thoroughly
Before the interview, make sure you have a solid grasp of the responsibilities and expectations for the Senior Vice President - Underwriter position. Familiarise yourself with the key aspects of credit risk management, especially in relation to regulated funds and asset management.
✨Showcase Your Analytical Skills
Given the emphasis on strong analytical skills in the job description, be prepared to discuss specific examples where you've successfully tackled complex analytical issues. Highlight your experience with financial risk calculations like VaR and stress testing.
✨Demonstrate Cross-Functional Collaboration
The role requires working closely with various teams such as Business, Credit, Legal, and Compliance. Share experiences that illustrate your ability to collaborate effectively across different functions and how this has led to successful outcomes.
✨Prepare for Technical Questions
Expect technical questions related to credit risk management and financial products. Brush up on your knowledge of derivatives, financing transactions, and relevant programming skills in Python or R, even if they are not mandatory.
