The Finance Chief Risk Office (“FINCRO”) organization is responsible for second-line oversight of regulatory capital management, including the measurement and reporting of spot regulatory capital and risk weighted assets (“RWA”).   FINCRO’s oversight of spot RWA and capital measurements includes both ex-ante and ex-post independent review and challenge of Citigroup’s regulatory capital calculation and reporting processes and capital planning processes.  FINCRO is an integral part of the Independent Risk Management function of Citigroup.

 

The Regulatory Capital Interpretation and Analysis Team (“CIAT”) within FINCRO provides the second line independent review and approval of technical interpretations made by the Regulatory Capital Policy Group (‘RCPG”) within Finance-Controllers for the Basel III Risk Weighted Asset (“RWA”) treatment for complex transactions.  CIAT plays a critical role in ensuring the accuracy of Citi’s externally reported RWA actuals under Basel III and is actively involved in the internal review and approval of the upcoming end game enhancements to the Basel III rules.  CIAT operates globally with dedicated teams located in New York, Tampa, and London.

 

The Basel RWA Specialist will report to the Head of CIAT, a Managing Director, and will act in a leadership role during the review and challenge of capital analyses and RWA treatment conclusions for new products and complex transactions.

 

Globally, CIAT performs a transaction advisory role on several hundred complex transactions each year.  This role is highly transaction-oriented and there is extensive interaction with senior members of the Business, Line Risk, Legal and RCPG during the transaction structuring, review, and approval process.  The Basel RWA Specialist also participates as a member of the new product approval committee during the review and approval of a wide range of new and complex banking products.

 

Key Responsibilities:

• Senior member of the CIAT team which provides independent review and challenge of regulatory capital technical interpretations including the publication and maintenance of Basel Interpretive Policy Manuals, prepared by RCPG for application by Citigroup firm-wide.
• Provide subject matter expertise across a range of Basel exposure/product types during the review and challenge of regulatory capital technical interpretations proposed by the first line of defense under the Basel III rules and the proposed Basel III Endgame enhancements.
• Depending on the degree of expert knowledge in specific product areas, the role may specialize as the CIAT lead for a Basel exposure type.   
• Within and across Basel exposure types, lead the second line of defense (i) review and approval process with respect to the proper regulatory capital interpretations and RWA treatment of complex financing transactions, which are often cross-border in nature, and (ii) determination of risk mitigation benefits.
• Active participate in the new product review and approval process, responsible for regulatory capital determination across a wide range of credit products and complex transactions globally.
• Interact confidently with CIAT and other FINCRO staff members, RCPG, Capital Controllers, Credit Risk Management, Market Risk Management, Accounting Policy, Legal and Business units.

Qualifications:

• Excellent academic record preferably in finance or accounting.  Masters or equivalent degree is preferred, but outstanding candidates with a Bachelor’s degree will be considered.
• Minimum of 15 years of relevant industry experience is required.
• Expert knowledge of U.S. Basel III Risk Weighted Assets (RWA) regulations is required.
• Experience evaluating complex transactions with ability to deconstruct structures and apply judgement to draw proper regulatory capital treatment conclusions when the US Basel III rules are not prescriptive/clear.
• Keen interest in banking and finance, especially in the field of risk and capital management.
• Strong analytical skills and attention to detail.
• Excellent communication skills with ability to articulate complex concepts and translate them into "user-friendly" language.
• Experience in working with cross-functional, diverse, global teams and ability to manage through influence and collaboration.
• Proven track record of delivering results as a member of collaborative team in a complex environment.

• Education:

• Bachelor’s/University degree, Master’s degree preferred.

Development Value:

This role provides a unique opportunity in a collaborative team comprised of subject matter experts in regulatory capital management. The role will enable the Basel RWA Specialist to develop an in-depth knowledge of the US Basel Rules across exposure types, deepen their banking product knowledge, and gain a unique firm-wide perspective of Citigroup’s businesses and products.  The role will involve significant interaction with FINCRO staff members as well as Line Risk, Finance and Business partners.  The Basel RWA Specialist will be directly involved in a variety of critical strategic RWA projects, including the development of regulatory capital polices and preparation for the implementation of the Basel III end game enhancements, and will develop a strong understanding of the end-to-end processes impacting RWA at Citigroup globally. 

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Job Family Group:

Risk Management

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Job Family:

Regulatory Risk

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Time Type:

Full time

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Primary Location:

New York New York United States

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Primary Location Full Time Salary Range:

$170,000.00 - $300,000.00

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.

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Anticipated Posting Close Date:

Aug 24, 2024

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