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ICM Collateral Controls Coordinator (VP) - Hybrid job in New York at Citigroup

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ICM Collateral Controls Coordinator (VP) - Hybrid at Citigroup

ICM Collateral Controls Coordinator (VP) - Hybrid

Citigroup New York, NY (On Site) Full-Time
The Collateral Controls Coordinator is a key member of the in-business credit risk function responsible for the collateral that underpins the bank's lending and trading activities. Working closely with ICM partners and 2nd line risk, the Collateral Policy Application Specialist assists in the strategic and tactical guidance for the continuous improvement of the bank's collateral practices.

This is a new role in a rapidly growing area of the bank and provides an excellent opportunity for a proven collateral expert to bring their knowledge to bear across all the firm's collateral activities and to play a key role in the development of a new department within the bank.

Ideal candidates will have extensive experience in the effective application of collateral to mitigate credit risk, the practical and legal issues associated with a variety of collateral types and the application of policies and standards to drive consistency and best practice. They will have a proven track record in engaging effectively with multiple stakeholders solving complex problems and delivering effective and robust solutions to drive process enhancements and promote a greater understanding of the role of collateral

**The Team:**

In line with its focus on risk and controls, Citi has created a new first line risk function, Institutional Credit Management (ICM). ICM's principal focus is credit risk, and it has been established with the objective of providing integrated "end-to-end" credit underwriting, and the management of associated risks for wholesale credit businesses across the enterprise.

Within ICM, the Collateral group focuses on the monitoring and management of risks relating to collateral posted and received in connection with Citi's trading and banking book activities. The Collateral group consists of Collateral Risk Teams, aligned to the businesses, and a Data and Policy team, in which this role is a key player.

**The Mission:**

Reporting to the ICM Collateral Policy Application Manager, The Collateral Policy Application Specialist is a key contributor in the development, documentation, and delivery of best practices in the fulfilment of collateral policies and standards across all lines of business and product types, combining full compliance with effective operation of the business and efficient use of capital.

As the subject matter expert on all policies and standards related to collateral, the Collateral Policy Application Specialist ensures the effective pursuit of these policies by the ICM CM team and the various functions supported by ICM CM, from both a tactical and a strategic perspective. The Collateral Policy Application Specialist partners closely with policy and standards owners in respect of the practical implementation of collateral policies, to help drive continuous improvement in the clarity and effectiveness of these documents.

The Collateral Policy Application Specialist will also establish effective relationships with the key personnel within the ICM CM Collateral Risk Teams and Data Team and will engage with Business Transformation Leads where businesses are changing or enhancing their collateral processes.

Key benefits include the development of an unusually broad perspective on the firm's activities (across both banking book and trading book), the acquisition of specialized knowledge of regulatory developments and the firm's financing practices, exposure to senior leadership and a rewarding, creative, and dynamic working environment.

**The role:**

The Collateral Controls Coordinator will be expected to make a major contribution towards the refinement of the team's mandate and to take a leading role in the execution of existing responsibilities including:

+ Manage the bank-wide collateral controls process - coordinate and maintain Business artifacts (proving processes are in place) and create/oversee MCA/ARCMs. Execute sampling of Business controls to ensure they are in fact in compliance with policy.

+ Acting as a subject matter expert in specific areas relating to collateral, based on a detailed understanding of the use of collateral in practice, particularly in respect of banking book transactions

+ Providing specialist support in the implementation and evolution of the Target Operating Model for collateral as part of the Wholesale Credit Risk remediation program, including guiding the scope of activities taken on by the ICM Collateral Risk Teams, developing a 'library' of best practice across all aspects of the collateral process and supporting the review and oversight of procedures and controls for collateral to ensure their alignment with Policy Application and Standards

+ Engaging in collateral reporting required by regulators, in partnership with the ICM CM head of data, to ensure timely, complete, and accurate delivery and to respond to questions in respect of the reporting

+ Assist with the development and refinement of a strategic vision for the continuous improvement in the effectiveness of the firm's use of collateral, and identifying specific opportunities to initiate these improvements

+ Maintaining an overview of all current and forthcoming Policy Application and Standards development impacting collateral and ensuring the appropriate participation of the ICM CM team to maximize opportunities to drive the continuous improvement agenda

+ Helping to develop the level of collateral expertise within the ICM CM team and supporting the ICM CM collateral risk teams in respect of specific BAU escalations

+ In conjunction with ICM Data and Reporting partners, creating and maintaining a dynamic dashboard of the bank's collateral activity by Business and Product along with relevant internal contacts to ensure any material policy or regulatory change can be efficiently targeted, communicated and/or remediated as necessary.

**Qualifications and Experience:**

+ Bachelor's degree or equivalent experience

+ 8 + years relevant experience in Financial Services with knowledge of credit fundamentals, credit policy, commercial/corporate banking, and commercial real estate lending programs and how collateral valuations and controls impact these fundamentals.

+ Must be flexible and eager to learn and grow in a dynamic environment

+ Team player who proactively shares best practices and assists with any of the overall ICM Collateral group needs as needed

+ Extensive knowledge of the commercial and legal considerations in the use of collateral to mitigate credit risk, ideally from a banking book (wholesale lending) background

+ In-depth knowledge of the characteristics of individual collateral types, particularly real estate, physical assets, financial assets (receivables), securities, etc.

+ Familiarity with development, drafting or interpretation of a firm's Policy Application and standards, including engagement with standards-drafting teams

+ Experience of the practical application of policies and standards to demonstrate full compliance and provide clear evidence to auditors, regulator etc.

+ Knowledge of Basel III framework and related collateral considerations is preferred

+ Project Management experience preferred

+ Strong attention to detail

+ Highly analytical & creative mindset

+ Strong and impactful presentation skills

+ Self-motivated, detail oriented, and a quick learner

+ Ability to work well under pressure, in a front office environment

+ Excellent communication, interpersonal and organizational skills

+ Knowledge of Citi's infrastructure is a plus

+ Strong ability to build relationships and to utilize networks across all levels, businesses, and geographies to manage and execute well on an ongoing basis and within stated time horizons.


**Job Family Group:**

Risk Management


**Job Family:**

Credit Decisions


**Time Type:**

Full time


**Primary Location:**

New York New York United States


**Primary Location Salary Range:**

$125,540.00 - $188,310.00


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.

Citigroup Inc. and its subsidiaries ("Citi") invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review **Accessibility at Citi ([ Link removed ] - Click here to apply to ICM Collateral Controls Coordinator (VP) - Hybrid .

View the "EEO is the Law ( " poster. View the EEO is the Law Supplement (\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .

View the EEO Policy Statement ([ Link removed ] - Click here to apply to ICM Collateral Controls Coordinator (VP) - Hybrid .

View the Pay Transparency Posting (\_%20English\_formattedESQA508c.pdf)


Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.

Recommended Skills

  • Analytical
  • Attention To Detail
  • Auditing
  • Business Process Improvement
  • Commercial Banking
  • Communication
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