Job Description
Wealth Risk Management Job Opportunity The Wealth organization at Citi is dedicated to providing excellent services to clients in all Wealth segments, including the Private Bank, Wealth at Work, and Citigold. Our goal is to create a unified platform that serves clients across the wealth spectrum, from the affluent to the ultra-high net worth. We are currently seeking a Wealth Risk Head, a Managing Director role that reports directly to the Chief Risk Officer for Citi. As the Wealth Risk Head, you will be responsible for providing independent risk oversight of the credit portfolio and risk-taking practices within the Wealth business. You will ensure that these activities align with defined risk appetite and limits. Responsibilities of this Role: - Lead and manage global independent risk management coverage teams for Wealth. Provide independent risk oversight and challenge for the full range of client segments within Wealth. - Ensure that the Wealth risk organization has sufficient risk management capacity and capabilities, including providing training when necessary. - Actively represent Wealth Risk in relevant business committees and forums. - Promote an independent holistic risk culture within Wealth Risk, leveraging the broader risk organization when needed, with a focus on escalation and proactive management of emerging risks. - Work closely with Enterprise Risk Management to ensure appropriate identification, review, and challenge of risks in the Wealth business. Review and approve Risk Appetite statements and limits. - Assess and review the adequacy of stress testing capability to support Wealth business risks. Participate in the review and challenge of stress test results for material legal entities used by Wealth. - Collaborate with the Finance CRO on the review and approval of credit loss reserves for CECL and IFRS9 purposes for significant legal entities. - Provide effective challenge for CCAR submissions for Wealth portfolios. - Coordinate and influence teams within Wholesale Credit Risk, as well as Retail Credit Risk, to ensure that products delivered to Wealth clients are suitable and align with risk appetite. - Act as an independent decision-maker, participating in credit decisions as appropriate. Escalate emerging trends and specific risks in a timely manner. - Evaluate and recommend risk approval for relevant Credit Policies, Standards and Procedures, Product Programs, and guidelines that support Wealth offerings globally. - Provide independent second line risk oversight of the Wealth credit portfolio, including credit portfolio management and stress testing. - Oversee and coordinate global risk-related crisis management situations. Oversee high-risk portfolio reviews. - Participate in client calls for significant credit relationships. - Interface with coverage bankers, in-business credit partners, and product partners to provide credible challenge and ensure engagement of all relevant risk partners in complex transactions. - Partner with other risk units to ensure extensions of credit reflect Wealth risk appetite and comply with applicable policies and criteria. - Partner with Operational Risk management on the assessment and actioning of operational risks for the wealth businesses. - Work closely with the Data Analytics, Reporting, and Technology team on Wealth risk reporting, modeling requirements, and ad hoc stress testing. - Interface with regulators, Internal Audit, and Fundamental Credit Review. Qualifications: - Managing Director, C16 level role. - 15+ years of business/leadership experience in a global financial services organization. Experience in managing relationships across a matrix organization preferred. - Proven track record as a successful risk leader with at least 10 years of wealth management risk experience at a senior level. - Broad knowledge across all risk and control disciplines that cover the entirety of the Wealth portfolio. - Demonstrated stature in working with external regulators, senior business leaders, executive committee members, and board members. - Strategic, commercial, and operational acumen with the ability to think analytically and solve problems. - Enterprise mindset and a carrier of our company culture. - Effective communicator who drives accountability. - Adaptable, collaborative, and demonstrates inclusive leadership. We believe in equal opportunities for all, and we encourage individuals from diverse backgrounds to apply. If you have a disability and need a reasonable accommodation during the application process, please review our Accessibility at Citi page. To apply for this position, please visit our career opportunities page on the Citi website.
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Job Family Group:
Risk Management
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Job Family:
Functional Management
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Time Type:
Full time
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Primary Location:
New York, New York, United States
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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. Citi invites all qualified interested applicants to apply for career opportunities. If you have a disability and need a reasonable accommodation to use our search tools and apply for a career opportunity, please review our Accessibility at Citi page. For more information, please view the EEO is the Law poster, EEO is the Law Supplement, EEO Policy Statement, and Pay Transparency Posting.