Counterparty Credit Risk Underwriter - 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

Credit Officer Investment Finance responsible for working on a global portfolio of sophisticated Institutional Family Office clients within Citi Global Wealth.

The portfolio consists predominantly of Institutional Family Office (IFO) clients of Citi Global Wealth.

Products include but are not limited to OTC and listed derivatives, other capital markets products, as well as wholesale collateralized and cash flow based loans.


Key Responsibilities:


Counterparty Credit (CCR) Underwriters within 1LOD are responsible for the underwriting, approval and extension of credit within the Margin Lending and Capital Markets business of Citi Private Bank (CPB) within Citi Global Wealth (CGW).

CGW is a single, integrated platform serving clients across the wealth continuum, from the affluent segment to ultra-high net worth clients.

Underwriters typically have experience in underwriting plain-vanilla as well as tailored credit solutions to Citi Bank clients with a focus on margin lending and derivatives.


This is an exciting new opportunity to contribute to the implementation of a new aspect of the risk framework within Citi.

It applies to Institutional Family Offices (IFOs) which constitute a significant segment of the bank's clients. The IFO Underwriter will initially focus on capital markets credit risk for IFOs globally.


Job Summary

  • Underwriting will focus principally on identified IFO clients of Citi with a CGW nexus
  • Credit structuring and underwriting of derivatives, loans and capital markets deals for Citi Private Bank clients.
  • Support the global IFO UW lead in managing a global portfolio of Private Bank credit relationships.
  • Location agnostic.

The person will be responsible for:

  • Supporting the senior lead underwriter assigned to a portfolio of IFOs globally.
  • On request lead, coordinate, or join due diligence (DD) meetings to understand the risk profile and dominant strategy of the IFOs/ hedge funds (HF) and ensure risk appetite at the Citi level remains adequate.
  • Assess portfolio concentration and diversification, liquidity, redemption risks if any
  • Assign Risk Ratings by using appropriate risk methodologies and scoring sheets
  • Assess risk rating methodology on a periodic basis
  • Understand key risk dynamics and assessments at a fund level as well as at the investment manager level
  • Understand the IFOs holding structure and investors base
  • Understand the client's investment approach and the resulting portfolio composition
  • Ensure that facilities are reunderwritten at least annually
  • Assess stress testing outcomes and ensure these remain within risk appetite
  • Where appropriate and based on specific events occurring, consider classification upgrades or downgrades
  • Negotiate creditrelated terms in ISDA/CSA, MRA, MSFTA, GMRA and GMSLA and other documentation.
  • Build network with the origination functions (Banking, Capital Market Credit Solution, Family Office Group)
  • Preparation of Credit Applications ensuring accuracy and completeness of data
  • Financial Analysis including cash flow statements
  • Collateral Evaluation covering Marketable Securities, Property and other asset classes Preparing and negotiating credit documentation for facilities, including liaison with external counsel as required as well as undertaking the annual review of documentation
  • Preparing and reviewing facility covenants
  • Assisting in Portfolio Management, including CA Annual reviews, covenant monitoring and compliance, waivers and extensions and all related system maintenance
  • Interacting with clients, trading desks, operations and legal and credit risk.
  • Providing leadership and guidance to the supporting team.

Knowledge/Experience:


  • Good knowledge of hedge fund/family office/ private equity structures/operations and strategy types, prime brokerage and derivatives / capital market products, ISDA / other trading agreements.
  • Strong grasp of current technologies including stress testing is highly beneficial

Skills:


  • Knowledge of capital markets products
  • Strong analytical skills and ability to decompose transactions into the core risks.
  • Good quantitative skills a plus.
  • Solid Risk and Business judgment on the full spectrum of risk issues including Operational and Franchise Risk

Qualifications:


  • University Degree / Graduate Degree in Business, Finance or Economics or equivalent is a plus.
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Job Family Group:

Risk Management

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Job Family:

Credit & Portfolio Risk Management

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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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