Citi continues to enhance its business control and governance framework by building out Institutional Credit Management (ICM), a new function in the 1st Line of Defense, to house and consistently manage credit risk activities performed across its Institutional Client Group organization. ICM's objective is to provide integrated end-to-end credit underwriting, identification, measurement, management, and monitoring for wholesale credit risk across the enterprise. Within ICM, the CPE Underwriting function (ICM-CPE UW) provides analysis, greenlight, underwriting, first-line-of-defense credit approval and subsequent credit monitoring across all ICG wholesale credit businesses including Banking, Capital Markets, and Advisory (BCMA), Global Structured Products, Financings, and Securitizations (GSP-F&S), Treasury & Trade Services (TTS), Markets, and Securities Services (MSS).
The ICM Hedge Fund (HF) Portfolio Manager VP is responsible for managing Citi's credit risk to a portfolio of the firm's most complex and large Hedge Fund/Private Equity relationships. Primary activities include credit due diligence, credit reviews, credit approvals and monitoring of the portfolio within the risk appetite of the overall business strategy.
Responsibilities:
Work closely with Citi's business lines across all products, with a particular focus on Prime Brokerage, as well as 2nd LoD Risk Management
Lead the client credit relationship in partnership with sales and trading and 2nd LoD credit risk.
Engage in extensive client-interface through the due diligence meetings, negotiation of credit structures and documentation, including ISDA's, Derivatives Clearing, FCM and Repo documents
Conduct and take ownership of the Credit Approval Memo process (CAM) by, generate Risk rating and update on an as need basis, Prepare CAM, Perform quality control of the CAM / Risk Rating Scorecard and ICM-CPE credit approval/sanction
Evaluate and provide approval for trading activities, including recommending margin requirements and structural enhancements
Accountable for evaluating the risk of hedge fund portfolios and managing credit risk related to client lending, trading, clearing, prime brokerage, and custody operations
Monitor compliance with trading agreements (NAV and/or performance ATEs, disclosure requirements) and Limits excesses
Recommend remediation plan for Limits and ATE breaches and remediate breaches in accordance with the plan
Report on limit excesses and limit excess aging
Review and monitor margin disputes, and establish Margin tolerance threshold for select clients where applicable
Assist with addressing FCR, IA and regulatory reviews and questions
Assist the Team Head in presentations and industry reports given to senior management, and regulatory reporting requirements
Provide leadership and guidance to more junior staff
Making prudent risk evaluations while making business decisions, taking into account the firm's image and protecting Citigroup, clients and assets by ensuring adherence to relevant laws, regulations, and polices, act with ethical integrity, and transparently handling, reporting and managing control issues
Qualifications:
6-10 years of experience in financial services and risk management required
Strong interest in the Hedge Fund /alternative asset management sector
Extensive years of previous work experience in related field and ability to work independently on complex risk requests
Strong communication skill
Good understanding of Capital Markets trading and lending products, particularly in derivatives, structured and other complex products traded by Hedge Funds
Quantitative and intuitive skills in the risks inherent in capital markets products, transactions, and positions
Strong grasp of current technologies including stress testing
Real sense of how to support business growth, within risk appetite parameters
Motivated and confident to work within a dynamic risk sector
Attention to detail unaffected by high pressure situations
Highly proficient in Microsoft Excel, PowerPoint, Word, and Access
Education:
Bachelor's degree/University degree or equivalent experience
Master's degree preferred
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Job Family Group: Risk Management -------------------------------------------------
Time Type: Full time ------------------------------------------------------
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