1+ months

Real Estate Risk Exec Grp Mgr - C16

New York, NY 10176
The PBWM Residential Real Estate Risk Lead will oversee the credit risk governance, policy and execution of strategies for the global RRE portfolio, throughout the entire credit lifecycle. This individual is responsible for RRE policy management, Risk Appetite definition and monitoring, 2LoD transaction approval, and oversight of mortgage servicing activities including collections, loss mitigation and default services. The integration of the Global Wealth and Retail RRE portfolios is a key initiative for the firm, and this individual will play a critical role the Risk integration of these businesses. He or she will also be responsible for oversight of PBWM climate risk, regulatory stress testing, loss forecasting and reserves. Requisite for the position is a thorough understanding of the mortgage industry, direct competitors' products / services, and strategic direction of the function, combined with a solid conceptual/practical RRE background and expertise. Excellent communication skills are required to engage with internal and external stakeholders. The individual is also responsible for determining the approach and execution of the functional strategy in the area managed. Full management responsibility for multiple team members, including management of people, budget and planning, including performance evaluation, compensation, hiring, disciplinary actions and terminations.

Responsibilities include:

Manage the portfolio returns, credit quality and the performance of the Citi PBWM RRE portfolio in line with stated benchmarks / hurdles.

Establish and manage the risk appetite framework and appetite of the portfolios. Working in partnership with the business units, define the target market, determine the business strategy and the set of performance and return metrics that comply with corporate standards and are appropriate to the local operating environment.

Design, implement and monitor the effectiveness of the credit policies and where warranted, adjust credit policies to ensure performance and return are in accordance with established risk appetite statement. Ensure that the policies are in full compliance with global corporate policies, governing regulations and where required, document and obtain approval for exceptions.

Possess a comprehensive understanding of the local operating environment (e.g. market, competition, economy, political, legal, regulatory) and its impact on the portfolios.

Manage loan losses and reserves. Perform scenario planning and stress testing to dimension potential risk to the franchise under adverse situations.

Design, implement and manage production systems capabilities to ensure that credit processes are executed in line with product program design and credit policies.

Implement and manage analytic infrastructure and tools including models, MIS capabilities so that portfolio qualities can be accurately evaluated and ascertained.

Provide oversight to the relevant operation units to ensure that credit processes and staffing are appropriate, effective, and executed in full compliance with policies, both local and corporate.

Proactively identify emerging risks and develop and implement mitigation actions as appropriate.

Partnership with Global Climate Risk and In-business Risk teams to develop / integrate Climate Risk framework and assessment capabilities. Provide 2LoD oversight of these activities.

Provide risk management leadership in Risk Management Committee. Actively participate in various risk and business forums.

Maintain a strong control environment at all times; escalate critical issues in accordance with corporate protocols and/or based on prudent judgment

Responsible for regular credit performance reporting to regulators, regional/head offices. Maintain close and transparent communication to ensure that all stakeholders outside of the business are fully apprised of the strategy, performance and events that are impacting the portfolio.

Jointly with Finance, responsible for capital adequacy, recovery & resolution planning based on local and US regulatory standards and requirements.

Evaluate and approve credit transactions and those with exception/deviation requests.

Represent the business in relevant external forums such as industry bodies, bureau membership group, and contributing expertise and to promote responsible finance for the betterment of the industry.

In times of downturn or crisis, devise policies and processes to provide appropriate relief to customers and reduce financial losses to the franchise.

Manage the local risk management team, recruit, develop and retain talent and bench.


Minimum 20 years of experience in credit risk management covering consumer residential real estate. Extensive direct experience in managing large RRE portfolios a must.

Experience in Credit Operations (Collections / underwriting) highly preferred.

Must have proven experience underwriting large loans in the Resideintail Real Estate or Commercial Banking environment

Strong analytical skills, including financial analysis of complex information e.g., corporate cash flows, multiple sources of personal income, structuring complex mortgage or other financing transactions

Excellent verbal & written English communication skills. Active listening skills.

Candidates must have highly effective negotiation skills, a proactive and 'no surprises' approach in communicating Risk issues, strength in sustaining independent views.

Able to roll up sleeves and work across levels in risk management and also with other operations and business teams.

Excellent Presentation skills adept at presenting effectively to audiences of various sizes and adapting style as necessary.

Acts as a role model for managing people, coaching, and serving as a mentor.

Excellent knowledge of mortgage compliance

Strong interpersonal skills

Self-directed and self-motivated

Senior Credit Officer (SCO) designation or equivalent preferred


Bachelor's/University degree, Master's degree preferred.

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.


**Job Family Group:**

Risk Management


**Job Family:**

Real Estate Risk


**Time Type:**

Full time


**Primary Location:**

New York New York United States


**Primary Location Salary Range:**

$275,000.00 - $500,000.00


Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review **Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm)** .

View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .

View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeo\_aa\_policy.pdf) .

View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp\_%20English\_formattedESQA508c.pdf)
Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.


Posted: 2023-04-26 Expires: 2023-06-25

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Real Estate Risk Exec Grp Mgr - C16

New York, NY 10176

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