The VP, Residential Real Estate Risk Analytics - Loss Recognition is responsible for risk analytics, controls, and monitoring of mortgage loss recognition activities (FFIEC) for the US residential real estate portfolio. In this role, you will develop and maintain robust controls and monitoring routines for risk oversight of loss recognition activities in compliance with Citi Retail Credit Policy and applicable supervisory guidelines. You will work closely with independent risk management and policy teams and stakeholders in mortgage-servicing, finance, and controls, 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:
- Use sophisticated analytical techniques to monitor execution of loan loss recognition activities in compliance with Citi policy requirements and applicable supervisory guidelines.
- Monitor credit loss performance trends and drivers to support loss attribution analysis.
- Understand the write-down process. Conduct root cause analyses of any concerns from auditors or internal partners and provide recommendations to address concerns.
- 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.
- Utilize analytical tools such as SAS, R, SQL, or Python (SAS preferred) to develop data-driven insights regarding loss recognition activities.
- Manage the audit and control environment, end-user computing portals, audit self-assessments, and interact with internal/external auditors.
- Understand relevant supervisory guidelines, FFIEC guidelines, accounting, and credit policy requirements applicable to write-down, write-off, charge-off, loan impairment, and loss recognition for a supervised depository institution.
- Establish cross-functional partnerships and networks to develop and implement loss-mitigation strategies 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 manage a complex, critical, multi-disciplinary servicing risk management functional area of responsibility.
Qualifications:
- 6-10 years of related analytic experience using quantitative analysis in consumer credit management or finance/accounting for loss recognition in a supervised bank context is preferred.
- Experience in the residential real estate (mortgage/home-equity) industry is highly preferred.
- Proficiency in writing SAS codes with macro, or proficiency in other data management tools such as R, SQL, or Python (can be trained to use SAS quickly). Experience with SQL programming in a UNIX environment is preferred.
- Demonstrated ability to synthesize, prioritize, and drive results with a high sense of urgency.
- The successful candidate will have demonstrable analytic, interpersonal, and project management skills.
- Ability to work effectively on virtual teams, including across different geographies and time zones is preferred.
- Consistently demonstrate clear and concise written and verbal communication.
- Establish solid cross-functional partnerships and networks to contribute and execute cross-functional and business initiatives.
Education:
- Bachelor's degree/University degree. Major in Finance/Accounting or quantitative fields such as Statistics, Mathematics, or Engineering is preferred.
- Advanced degrees considered a plus.
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: $114,720.00 - $172,080.00
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. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
Anticipated Posting Close Date: Oct 18, 2024
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