Citi’s has one of largest US bank-owned residential real estate portfolios (US-RRE) comprising more than $120 billion in receivables. You will be joining the US RRE Servicing Risk team.
The Vice President-Default Risk Management is an individual contributor risk management position that will be responsible for (1) Risk oversight of loans in default inventory including Foreclosure, REO, Bankruptcy, SCRA etc. (2) Business unit’s adherence with Citi policies and applicable supervisory and regulatory guidelines. You will work closely with the stakeholders in risk management, policy, independent risk, mortgage-servicing legal & compliance areas supporting both US Personal Banking and Wealth divisions on an expansive set of portfolio objectives to deliver performance aligned with Citi’s risk-appetite framework.
The role requires a strong understanding of the US residential real estate industry, mortgage servicing landscape, supervisory guidelines, applicable regulations, and deep expertise in the mortgage default domain including Foreclosure, Bankruptcy, SCRA, REO etc., risk management in residential real estate (mortgage, home-equity). In addition, excellent communication skills are required to engage with, influence and persuade key stakeholders internally, often at a senior level. This role may also require some external communication with regulators and sub-servicer.
The Vice President-Default Risk Management is responsible for determining the approach and executing functional strategy in the Default Risk Management area and accountable for end-to-end results of the area(s) under coverage. Impact reflects strategic influence on the business and interaction with other functions or businesses.
RESPONSIBILITIES
- Assist in the development and management of risk strategies, analytics, and oversight of activities across the Default Servicing lifecycle including pre-foreclosure, foreclosure, bankruptcy, REO and other late-stage default populations (e.g., SCRA, litigation, etc.) for US Residential Real Estate Portfolios
- Identify and escalate risk and control issues to control partners and senior leadership within the Risk Organization with transparency, in a timely fashion and in adherence to applicable policies and procedures.
- Understand applicable credit policies, industry regulations and the requisite impact of those governance items to default portfolio management.
- Proactively identify emerging risks within the portfolio and gaps that might compromise Retail Credit Policy compliance and /or expose the firm to adverse outcomes.
- Develop framework for portfolio risk assessments including evaluation of credit/default, operational and financial risks across varied segments of mortgage residential portfolios
- Support Default Risk leadership to appropriately manage risk-return tradeoffs by overseeing development and execution of credit/default risk oversight routines and developing recommendations for policy & risk oversight process enhancements throughout the default lifecycle
- Utilize SAS/Python, Tableau to perform risk analyses including default portfolio segmentation, performance indicator development & monitoring
- Prepare risk management presentations for senior management that include analytics on expected portfolio performance and areas of potential risk and/or opportunity
- Interacts with Audit and Risk Review personnel and with external regulators during their periodic reviews of US RRE portfolio
- Proactively engage with key stakeholders to advance and support risk and control priorities.
- Promote a strong risk management culture and discipline
- Collaborate with colleagues across multiple locations and time zones
QUALIFICATIONS:
- 10+ years of experience in credit risk management in the financial services ideally with a large bank mortgage portfolio or equivalent consumer credit portfolio management experience at a leading consumer financial institution with knowledge of consumer residential real estate market and regulatory management in the U.S.
- Knowledge and expertise in holistic risk management (identification, measurement, monitoring) risk analytics, risk oversight in addition to default servicing (ex. foreclosure, bankruptcy) domain experience desired
- Experience within Mortgage Servicing or one or more areas in default credit portfolio management (collections, loss-mitigation, foreclosure, bankruptcy, REO)
- Bachelor’s degree in economics, Finance, Statistics, Applied Mathematics or related fields. Master’s degree preferred
- Ability to navigate complex decisions and situations including engagement with various senior stakeholders (CRO, LOB CEOs, senior business representatives and regulators).
- Strong, clear, concise written and verbal communication capabilities. (ex. complex issues in concise executive summaries)
- Proficient in SAS/Python, Tableau. In addition. excellent skills with common Microsoft productivity tools including Excel, PowerPoint, Visio
- Prior experience working in a regulatory and compliance policy environment, preferably in US Mortgage Servicing
SKILLS / ABILITIES:
- Demonstrated ability to proactively synthesize, prioritize and drive results with a high sense of urgency
- Strong communications/presentation skills, capable of interacting effectively both technical and non-technical audiences
- Ability to obtain support and buy-in across a wide range of stakeholders; create a strong network of relationships among peers, internal partners, external constituencies, and decision makers.
- Ability to think strategically and articulate concepts clearly. Ability to see the "big picture" without losing attention to detail
- Must be highly organized and able to work in a fast-paced environment managing multiple projects and possess strong interpersonal, organizational and analytic skills
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Job Family Group:
Risk Management
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Job Family:
Portfolio Credit Risk Management
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Time Type:
Full time
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Most Relevant Skills
Analytical Thinking, Credible Challenge, Governance, Policy, Procedure, and Regulation, Portfolio Analysis, Risk Management Lifecycle.
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Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.
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