Director - Equities Prime Finance, In-Business Risk

Job Purpose:

• Individual will report to the Global Head of Prime Finance In-Business Risk (IBR), responsible for counterparty and platform risk management of Citi’s cash and synthetic Prime Brokerage and Equity Delta One business lines:
  • Solutions-oriented client engagement through-out the lifecycle of a client
  • First line of defense in risk managing credit risk and monitoring platform exposure
  • Understanding market and credit risks within Prime products and effectively communicating to senior management and control functions
  • Evolving the risk framework and other risk governance items to ensure a proper control environment and strategic platform development
  • Serve as Prime Finance product SME and business representative for regional Regulatory inquiries and periodic requests.
  • Key in-business escalation point for emerging counterparty risk events and crisis management.

Job Background / Context:

• Global platform includes Prime Brokerage and Swap offerings across US and international broker dealer and bank chain entities.
• Client portfolios comprise of a broad range of asset classes and investment strategies. Typical product scope includes:
  • Asset classes: equities (incl ETFs, custom baskets, OTC); fixed income corporates and converts; listed options
  • Strategies: Equity Long/Short; Quant; Multi-Strat; Event; Macro; Credit opportunity; etc.
  • Hedge Fund and Real Money counterparties

Key Responsibilities:

• Daily management of client portfolio exposures and senior escalation contact for counterparty-related risk issues.
• Participation in prospective client pitches and term negotiations, negotiating commercial risk terms and constructing incentives to support strategic, risk-efficient returns growth through ongoing client dialogue.
• High level of engagement with Sales, Trading and other members of the business as it relates to client management and ongoing business initiatives.
• Senior-level risk sign-off responsibility within the NAM-based Prime Finance IBR team
• Thoughtful and complete analysis and communication of risk concerns both internally within the business and among control function partners as well as effective delivery of Citi’s view externally to clients and regulators.
• Identifying and escalating emerging risks – credit, market, operational or legal – to senior management and Global Prime Finance IBR Head. Continuously assessing and adapting to new products and market stress events and proactively proposing risk solutions.
• Facilitating new client trades and managing existing portfolio exposures to ensure that risks, primarily market-driven counterparty risk, but also documentation, legal and reputational risks are well-controlled.
• Work closely with Credit risk management on the onboarding of new clients, sizing appropriate limits, and implementing flexible, dynamic margin methodology, as well as maintaining ongoing dialogue and promptly escalating issues with existing clients.
• Develop strategic risk solutions and platform enhancements to help advance Citi’s competitive advantage. Active participation in managing the budget and strategic prioritization of Prime's IT book of work.
• Maintain a positive culture within the NAM IBR team by cultivating a productive and collaborative work environment as well as advising and helping to grow junior talent.
• Ensure full compliance with In-Business Risk Procedures manual and other Prime Finance policies.

Knowledge/Experience:

• Front office risk management or experience in a secured financing role
• Subject matter expertise with relevant Prime financing platforms, asset types and client investment strategies
• Thorough understanding of PB client documentation and experience with negotiating term agreements
• Familiarity with large-scale project management and product development within the Prime Services space, preferably related to data infrastructure and/or risk modelling
• Previous experience engaging with Regulators on risk management-related issues preferred
• Experience with risk decision-making authority carrying direct economic impact
• Previous client-facing experience with hedge funds

Skills:

• Strong analytical skills, attention to detail, demonstrated aptitude for tackling analytical issues through quantitative modelling and assimilation of data into a working product
• Ability to work well with cross-functional teams from Product, Sales, Credit Risk, Technology, Operations, Legal and Compliance
• Strong written and verbal communication skills
• Ability to maintain a balance of risk and reward to facilitate business growth while effectively managing risk and taking decisive action
• Programming language(s) a plus

Qualifications:

• Bachelor’s University degree or equivalent required
• Masters in Mathematics, Science or Finance/Economics or CFA designation preferred
• 15+ years’ experience in financial services; experience leading analytical teams required

Competencies:

• Entrepreneurial
• Inquisitive
• Proactive and motivated
• Strong analytical skills
• Strong problem solving abilities
• Excellent written and oral communication skills
• Ability to work independently as well as in a team environment

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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.

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