Wealth Residential Real Estate Risk Policy and Underwriting Group Manager, Director (Hybrid)

About Citi Wealth:

Citi Wealth brings together the full power of Citi to serve the entire continuum of wealth clients, from affluent to ultra-high net worth to family offices. Our target segments include:

• Citi Private Bank (CPB): Dedicated to serving the world’s wealthiest individuals and their families and offering customized services to help protect and responsibly grow their wealth.
• Wealth at Work (WaW): Catering to busy professionals, including lawyers, consultants, accountants, asset managers, and more, providing tailored wealth solutions to achieve their unique financial goals.
• Citigold and Citigold Private Clients (CPC): Offering the highest tier of banking at Citibank, featuring dedicated financial planning, world-class investment capabilities, select products, and exclusive benefits.

About Wealth Residential Real Estate (RRE) Risk:

Wealth Residential Real Estate (RRE) provides residential property financing to our target market clients across CPB, WaW, Citigold and CPC. With over $90 billion in global exposure, RRE is a critical product offering within Wealth Lending.

Wealth RRE Risk is a Second Line of Defense (2LOD) team within the Wealth Independent Risk Management organization. We provide independent risk oversight for lending portfolios and broader risk-taking activities within the Wealth lending business, ensuring these activities remain within defined risk appetite and limits. We are responsible for establishing and managing Citi's global credit policy, standards, and risk appetite boundaries for Citi Wealth lending business.

Role Overview:

The Wealth Residential Real Estate (RRE) Risk Policy and Underwriting Group Manageris a senior credit risk role, reporting to the Head of RRE Risk. This role provides independent risk oversight and challenge to the RRE lending business activities, with a primary focus on credit underwriting policy, process, and the quality of loan production within the First Line of Defense (1LOD) business.

Key Responsibilities:

• Credit Policy and Standards: Develop, maintain, and implement global credit policies and underwriting standards for RRE lending, ensuring alignment with Citi's risk appetite and regulatory requirements.
• Underwriting Oversight: Provide independent risk assessment and challenge to 1LOD underwriting practices, identifying and mitigating potential risks.
• Loan Approvals: Conduct in-depth risk assessments and provide approval recommendations or for high-ticket and/or complex RRE loans escalated to 2LOD.
• Credit Quality Monitoring: Monitor RRE loan portfolio performance, identify trends, and recommend corrective actions to maintain credit quality.
• Risk Assessment and Reporting: Prepare and present comprehensive risk assessments and reports to senior management, highlighting key risks and mitigating strategies.
• Regulatory Management: Support the Head of RRE Risk in regulatory examinations and inquiries, ensuring compliance with relevant regulations and guidelines.
• Global Risk Initiatives: Participate in and support various global risk initiatives, contributing to the enhancement of Citi Wealth's risk management framework.
• Leadership Through Individual Contribution and Influence: As a senior member of the RRE Risk team, demonstrate leadership through proactive engagement, individual contribution, and impactful influence. This includes hands-on execution of key responsibilities such as loan approvals, in-depth risk assessments, leading discussions and drive action items in portfolio quality reviews and policy discussions and meetings (including taking minutes and managing follow-up items), developing and delivering presentations and conducting data analysis.  Successfully managing assigned tasks and producing accurate, timely deliverables is essential for contributing to a positive team environment and achieving departmental goals.
• Cross-Functional Partnership: Build strong partnerships and exercise influence with 1LOD business, Finance, Legal, Compliance and other critical Risk oversight teams, to ensure adherence to risk appetite, policy compliance, and sound risk management practices.

Qualifications:

• Extensive Credit Risk Experience: 15+ years experience in private bank and/or retail bank credit risk management, with a specific focus on residential real estate lending and a deep understanding of high-net-worth clientele. Senior Credit Officer (SCO) designation or equivalent with 3 or more years making credit decisions at this level.
• Expert in Credit Underwriting: Proven expertise in underwriting residential real estate transactions for high net worth clients, including the ability to effectively assess complex deal structure, loan, client financials and collateral documentation to recommend approval or conditions of approval.
• Policy and Framework Development: Experience in developing and implementing credit policies, underwriting standards, and risk management frameworks, ensuring alignment with regulatory requirements, sound lending principles and industry best practices.
• Analytical and Problem-Solving Acumen: Exceptional analytical and problem-solving skills, with the ability to identify trends, assess potential issues, and develop effective solutions to mitigate credit risk.
• Portfolio Management Expertise: Demonstrated ability to monitor portfolio performance, identify emerging risks, and recommend corrective actions to maintain and enhance credit quality.
• Strong Communication and Interpersonal Skills: Excellent written and verbal communication skills, with the ability to clearly articulate complex information to various stakeholders, including senior management, first line of defense (1LOD) business, and other risk partners.
• Collaborative and Influential Leadership: Proven ability to collaborate effectively with cross-functional teams and influence stakeholders to achieve shared objectives and drive consensus on risk-related matters.
• Pro-active and Results-Oriented: A self-starter with a proactive approach to risk management, demonstrating a strong sense of ownership and accountability for delivering high-quality work in a timely manner.
• Technical Proficiency: Proficiency in data analysis tools and presentation software (e.g. Excel, PowerPoint, Words) to effectively analyze data, prepare reports, and communicate findings.

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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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Anticipated Posting Close Date:

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