Wholesale Credit Risk Model Overlays Officer - VP

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Wholesale Credit Risk Model Overlays Officer - VP

senior · Risk & Compliance

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Job Overview

The Credit Risk Model Overlays Officer role belongs to Citi's Wholesale Credit Solutions (WCS) Group, which oversees portfolio risk management activities to minimize credit losses and potential damage to the Citigroup franchise or reputation.

By Joining Citi, you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Role / Team Overview:

The role supports the Model Sponsorship function within WCS, addressing analytical responsibilities around Citi’s wholesale credit risk models performance against policy requirements and business expectations. The focus of the role is the calculation and application of necessary overlays to the raw model output, to compensate for known model limitations, or to account for risks not adequately addressed by the model, like idiosyncratic events and portfolio dependencies to economic and political environment changes. The Current Expected Credit Loss (“CECL” or Credit Allowance), the Comprehensive Capital Analysis and Review (“CCAR”), and the internal cost of credit planning, are among the processes that are subject to overlay considerations, at quarterly cadence.

The position offers broad on the job learning experience and further development opportunities within Citi’s Risk organization.

What you’ll do:

• Analyse the relevant model output, investigate the period-over-period changes against the portfolio credit quality and composition changes, and the economic assumptions. Present the conclusion in a structured, comprehensive manner, to enable assessment for any needed overlays, and relative decisions.
• Execute on the decisions made around the needed overlays: compile data references as needed, ensuring appropriate data sources, articulate the calculation in a clear, repeatable way, document the deployed assumptions, and implement controls to preserve data and calculation integrity.
• Recommend alternate approaches and adjustments for any identified logical fallacies or assumptions not supported by statistical evidence.
• Prepare PowerPoint decks for executive presentations of the results.
• Prepare overlay approval documents in accordance with the governance framework and the model risk management policy requirements.
• Facilitate the reporting of the approved overlays into the system, as per the process requirements (i.e. direct posting of the adjustment, offline hand off to risk reporting partners etc.); Excellent knowledge of the data repositories must be developed.
• Perform data analysis and reconciliations to monitor and track data quality and completeness of data. Independently evaluate the process output, by reviewing the result for relevance to the intended outcome and assessing it for reasonableness.
• Provide project management support on regular periodic activities (e.g. consolidation of overlay documentation, timely communication in line with the governance framework requirements, collection of the necessary approvals etc.) and ad hoc activities (e.g. process and system automation initiatives, solutions development in response to regulatory requirements, etc.)
• Support the broader Model Sponsorship function, according to business needs and periodic priorities.

What we’ll need from you:

• Bachelor's/University degree.
• Minimum 6 years of experience in the financial industry, and at least 2 years in the current role.
• Experience in Wholesale CCAR/Stress Testing &/or CECL will be preferred. Alternatively, roles associated with portfolio credit risk management over classifiably managed exposures also qualify.
• Proficiency in programming languages such as Python, writing and editing technical documentation. Digital fluency and intellectual curiosity over AI tools are required.
• Microsoft Office proficiency – particularly Excel (metrics and data analysis, ability to work with large datasets), PowerPoint (presentation decks), and Word (writing and editing procedural and technical documentation).
• Aptitude for organizing, coordinating, and executing projects from inception to completion. Business analysis skills will be preferred: ability to interpret business requirements for the purpose of liaising with Technology Developers.
• Analytical skills with the ability to identify root causes and trends.
• Excellent writing and verbal communication skills; ability to communicate concisely and clearly.
• Strong time management skills with the ability to successfully accommodate competing priorities. Self-disciplined, able to work independently, take initiative and effectively handle their book of work, with limited supervision.
• Aptitude to assist with information requests from regulators, auditors, and manage remediation efforts or corrective action plans.

What we can offer you:

By joining Citi Solutions Centre Poland, you will not only be part of a business casual workplace with a hybrid working model (currently up to 2 days working at home per week), but also (potentially, subject to final offer) receive a competitive base salary and enjoy a whole host of additional benefits which can include:

• Employer paid Defined Contribution Pension Plan contribution of 6% of employee’s pensionable earnings (PPE Program)
• Employer paid Private Medical Care Package for employees and Private Medical Care Packages for certain family members available at preferential rates
• Employer paid Life Insurance Program for employees and Life Insurance for certain family members available at preferential rates
• Employee Assistance Program financed by Employer
• Paid Parental Leave Program (maternity and paternity leave; statutory and 2 weeks additional paid paternity leave)
• Sport Card for employees subsidised via Social Benefits Fund and Sport Cards for certain family members available at preferential rates
• Additional benefits from Company’s Social Benefit Fund, in particular: Holidays Allowance, support for sport and cultural activities, team building events.
• Additional day off for volunteering
• Cafeteria/ flex benefit – a company benefits system which enables employees to select and purchase benefits offered by a provider and available for employees on the platform.
• Opportunity to receive an annual discretionary incentive award
• Special offers and discounts for employees.

Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self every day. We want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive. 

Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.

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