Uk Settlement Risk Oversight - London, United Kingdom - Citi

Citi
Citi
Verified Company
London, United Kingdom

1 month ago

Tom O´Connor

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Tom O´Connor

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Description

The role holder will report to the Head of UK Credit & Settlement Risk Oversight who in turn reports to Head of UK Entities Financial Risk Management who in turn reports to the UK CRO.


This role holder will be responsible for:

  • Supporting the wider work of the UK Credit & Settlement Risk Oversight team.


CGML is Citi's international broker dealer entity based in the UK which has US GAAP assets in excess of $218Bn; and CBNA London Branch has assets of approximately $240bn under US GAAP / $450bn under UK GAAP.

The UK legal entities are under direct supervision by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).


Key Responsibilities:


  • Development of oversight frameworks covering settlement risks and risks relating to margin disputes and settlement and margin payment failures spanning business and operations silos (e.g. Repo, Bilateral OTC, Cleared Derivatives, FX settlement, Securities settlement etc.).
  • This will involve working with and integrating existing existing governance, processes and data already operating at Business, Operations and/or WCR levels, to develop effective consolidated secondline oversight of settlement risks for UK legal entities. This may involve establishing new MI, reporting and/or limit or trigger frameworks.
  • The outputs of these oversight frameworks should be integrated into wider risk management governance and reporting for the UK legal entities.
  • Development of risk management protocols and/or runbooks for handling events which cause settlementrelated stresses, both for clientspecific situations and for more general situations caused, for example, by heightened market volatility or stress in a particular client segment.
  • Supporting the work of the wider UK Credit & Settlement Risk Oversight team.

Work Experience:


  • 10 years+ experience from a top tier bank or a consultancy firm, with excellent working knowledge of financial markets products, and a strong focus on governance and controls.
  • Prior extensive experience in a Credit Risk and Counterparty Credit Risk management is required in either first or second line of defence, including approval of complex transactions.
  • Experience leading and participating in cross functional projects, regulatory remediation, and audit corrective action plans
  • Familiarity with the regulatory landscape in the UK including the PRA's approach to branch and subsidiary supervision
  • Prior management experience.
  • Understanding of fronttoback dependencies and controls in a complex matrixed organisation

Qualifications:


  • Postgraduate education in Economics, Finance, Financial Risk Management, or other quantitative discipline preferred.

Competencies and skills:


  • Ability to digest complex or detailed issues and articulate them in clear and concise messaging so that others understand principals of risk issues despite complexity or volume of information.
  • Strong attention to detail, excellent quantitative and analytical skills, willingness to "roll up sleeves", strong work ethic, strives for excellence in both the "what" and "how" we deliver results.
  • Excellent communicator and proven ability of stake holder collaboration and management in a large and highly matrixed organization.
  • Strong organisational skills and the ability to multitask effectively in a highvolume and complex environment with changing priorities, with a practical solutionsdriven approach.
  • Strong proficiency in Microsoft Office particularly Excel (metrics and data analysis), PowerPoint (presentation decks), and Word (writing and editing procedural and technical documentation).
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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

  • Citi is an equal opportunity and affirmative action employer.


Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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