Head of EMEA Underwriting

Job Description

Citi Global Wealth is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It has been created by combining the Wealth Management businesses across Citi Global Consumer Bank and Citi Private Bank.  It serves over 500,000 clients through its global footprint in Asia, EMEA, Latin America, and North America. Citi Global Wealth delivers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, lending, and cash management.  By building on the strengths and capabilities across Citi, we intend to transform the way we serve clients across the wealth spectrum, delivering the full range of high tech and high touch capabilities Citi can offer, and ultimately help them achieve their goals. Citi Global Wealth propositions are delivered via tailored offerings across the Citigold, Citi Private Client, and Citi Private Bank brands.

Job Background/Context:

The Wealth Lending business offers a diverse product range including Securities Based Loans, Residential and Commercial Real Estate (CRE) lending, Aircraft, Fine Art, Subscription Credit Facilities (SCF), Other Secured and unsecured facilities tailored to target market clients of Citi Global Wealth. As part of our efforts to strengthen and deepen our controls capabilities, we have established a new global organization called Wealth Credit Management (WCM) that serves as the First Line of Defence and In-Business Risk oversight including underwriting, portfolio management, quality control and transaction management.

WCM will work closely with our CGW Lending teams to serve as a critical component of our First Line of defence for credit risk management and will work with our Independent Risk partners to ensure best-in-class risk and controls, as well as client responsiveness. Key responsibilities will include credit analysis, documentation, risk identification, monitoring and administration associated with CGW wholesale lending activities. The scope of responsibilities and scale of this team will evolve over time to continue to meet our needs.  

WCM’s mission is to provide best-in-class credit analysis and monitoring which is risk-differentiated, thoughtful, timely, and which conforms to applicable local and global regulatory expectations for safety and soundness in their relevant jurisdictions. WCM Head will coordinate with Institutional Credit Management (ICM) and other credit management groups across Wholesale/ICG, Retail/Consumer and Counterparty Credit Risk to ensure full alignment on business and regulatory goals, as well as consistency and best practices where appropriate

Europe, Middle East, Africa (“EMEA”) Wealth Credit Management Head

• The EMEA Head of Wealth Credit Management will be a key member of Global WCM Leadership team as well as the Wealth Lending ‘Extended’ Leadership Team within Citi Global Wealth. 
• The incumbent of this role will be tasked with leading a team of over twenty credit professionals with primary responsibility to perform the analysis and deal structuring for the credit approval, deal execution and closing, as well as ongoing portfolio monitoring, amendments and renewals. The team will co-ordinate closely with the Lending Advisors to support new and existing Wealth Lending relationships.
• Drive the development of the regional WCM function including recruitment of top underwriting talent and, organisational enhancements as the scope of responsibilities and scale of this team evolves over time to continue to meet the lending needs of Citi Global Wealth.
• This is a highly demanding role, requiring strong leadership, governance and oversight founded on exemplary lending and underwriting experience as well as knowledge and experience of Citi’s Credit Policies, Standards, and Procedures, risk management practices and regulatory expectations.

KEY RESPONSIBILITIES:

Interpret the global strategy and drive execution of frameworks, programs and technological solutions to for the EMEA Region achieve the following key mandates:

• Define, establish and manage scalable end-to-end processes for the core production pillar.  Specifically, this would include
  • Credit Analysis and Production: Develop and manage an organization that effectively engages with Lending Advisors and independent Risk Managers (2nd line) to effectively underwrite and document new originations / extension of credit exposure together with increases and other amendments.  Deliver best-in-class credit analysis including financial review, risk ratings, classification, and collateral review that meets regulatory requirements, Citi standards and client deadlines.
  • Legal Documentation: provide expertise around credit terms and internal policy expectations and ensure that these are effectively captured / monitored
  • Accuracy and completeness of Credit Data: ensure that data captured in our credit infrastructure are in-line with the approvals and conform to credit documentation
  • On-going monitoring: deliver timely, high-quality analysis of existing exposures including completion of annual client reviews, quarterly portfolio reviews, and other locally required approvals. 
  • Escalations: ensure timely tracking and escalations around exposure monitoring breaches, documentation deficiencies, collateral and covenant tracking
  • MIS and Reporting: Developing analysis tools to measure critical production and control metrics to drive credit and portfolio actions including but not limited to the following: un-remediated credit data quality concerns at the credit file level, credit file exception remediation tracking, past due or extended annual reviews and quarterlies, and return-for-rework metrics, collateral data, etc.
  • Quality Control: Designing and leading an enhanced credit administration function to ensure quality control standards are achieved

• Provide 1st-line approvals in line with Citi Credit Policy, CPB CGW Standards and Product Programs

• Assist Wealth Lending and WCM Leadership Teams as well as Product and Technology partners to defines vision for best-in-class technology platforms, process, user experience and implementation.

• Manages and drives multiple regulatory and control priorities including responding to Quality Assurance, Credit Risk Review, Internal Audit and Regulators, including timely issue resolution.
   

SPECIFIC CREDIT EXPERIENCE

• Senior Credit Officer Level 2 approval authority covering large, complex structured loans as well as flow securities-based loans and capital markets (derivatives) activities. 
• Ability to understand both Retail and Wholesale risk frameworks including traditional lending and counterparty risk management (traded products). 
• Ability to develop structural solutions to macro and regulatory issues, and collaborate on issues with various impacted parties

MANAGEMENT CAPABILITY

• Demonstrates managerial maturity in looking out for the best interests of the enterprise including managing dual reporting lines
• Proven ability to lead / integrate global organization
• A strong mentor and coach – one with the ability to rally followers and embed / empower leads for each of the core pillars
• Highly skilled communicator who ensures key messages are cascaded throughout the organization
   

BUSINESS / RISK PARTNERSHIP

• Strong presence / ability to liaise with internal heads of businesses, market managers, bankers and second line risk partners. 
• Navigates organizational complexity and breaks silos
• Creates and sustains a network of strong partnerships with the business in all segments & geographies and other risk functions
• Provides well-reasoned, balanced assessments of risk/return trade-offs associated with transactions and client relationships
• Proven track record of partnering with global peers in leveraging and implementation of best practices
   

QUALIFICATIONS:

• Extensive risk/risk-related credit work experience in banking/financial institutions
• Level 2 Senior Credit Officer designation, or equivalent
• Proven ability to effectively engage with internal control functions including Internal Audit and Credit Risk Review as well as with external audit
• Demonstrates strong ethics and integrity
• Strong leadership.  Dynamic, flexible, and with strong communication skills 
• Ability to see the ‘big picture’ in a complex environment 
• Can make decisions under pressure within short timelines
• Excellent verbal & written communication skills. Active listening skills. 
• Multi-cultural and bi-lingual, including the ability to speak multiple languages and experience in working in multiple geographies preferred
• Demonstrated influencing and negotiating ability, resolve conflicts amongst various constituencies
• Excellent presentation skills – adept at presenting effectively to audiences of various sizes and various constituencies

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