The SVP, Residential Real Estate Risk – Loss Mitigation is a senior management-level position responsible for risk strategy, analytics and oversight of loss-mitigation for the US residential real estate portfolio. In this role, you will directly be involved with (a) Development and implementation of loss-mitigation strategies (b) Analytics and evaluation of loss mitigation performance and risk-reward tradeoffs and (c) Risk Oversight of loss mitigation treatment options and compliance with Citi Policy requirements. You will work closely with the independent risk management and policy team and stakeholders in mortgage-servicing, finance, controls, 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.
Responsibilities:
- Oversee the development and management of key credit risk early default and loss mitigation workout strategies adhering to credit risk policy, while appropriately balancing risk & reward tradeoffs.
- Develop, track and report on key initiatives, performance results, and emerging trends, analyzing risks, and ensure appropriate escalation and communication is provided to senior leadership.
- Understand relevant laws, regulations, and best practices in mortgage servicing and loss mitigation.
- Manage the audit and control environment, end-user computing portals, audit self-assessments, and interact with internal/external auditors.
- Establish cross-functional partnerships and networks in order to develop and implement loss-mitigation strategy and support the execution of cross-functional business initiatives.
- Drive compliance with applicable laws, rules and regulations, adhere to Policy, apply sound ethical judgment regarding personal behavior, conduct and business practices, and escalate, manage and report control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- May lead or manage a complex, critical, multi-disciplinary servicing risk management functional area of responsibility.
Qualifications:
- 10+ years of experience in credit risk management or equivalent training and experience preferably in the financial services industry.
- Experience in the residential real-estate (mortgage/home-equity) industry required.
- Mortgage, home equity, or default servicing strategy and loss mitigation experience is a plus.
- Will require a broad knowledge of residential real estate credit management and applicable regulations related to loss-mitigation.
- Strength in influencing others as well as demonstrating high level of competence communicating with executive management.
- Demonstrated accountability for delivery of a full range of services to one or more businesses/geographic regions.
- Consistently demonstrate clear and concise written and verbal communication.
- Proven negotiation skills often used at a senior level.
- Demonstrated ability to synthesize, prioritize and drive results with urgency.
- Ability to obtain support and buy-in across a wide range of internal and external audiences.
Education:
- Bachelor's degree/University degree or equivalent experience.
- Master's degree preferred.
Job Family Group: Risk Management
Job Family: Credit & Portfolio Risk Management
Time Type: Full time
Primary Location: Wilmington Delaware United States
Primary Location Full Time Salary Range: $144,480.00 - $216,720.00
In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.
Anticipated Posting Close Date: Sep 17, 2024
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