Independent Risk Quality Assurance – Wholesale Credit Risk – Senior Officer (Vice President – C13)

As part of Citi's Risk Management function, the Banking and International Risk (BIR) organization is responsible for management of Wholesale Credit Risk (WCR), International and Legacy Franchises. BIR provides second line of defense (2LoD) oversight, review and challenge over our lending and counterparty credit activities globally. We collaborate with our key partners in the first line of defense including Institutional Credit Management (ICM) function to manage capabilities across our Wholesale Credit businesses, underpinned by a common WCR Framework and Policy. Our joint effort is enabled by clear ownership and accountability. Our Mission is to build an industry-leading Banking & International risk management, with a commitment to continually enhance our end-to-end capabilities through investments in our people, processes, technology, and controls, ultimately bringing success to the Franchise.

The advertised role is part of the Independent Risk Quality Assurance (IRQA-WCR) function within BIR, whose objective is to independently assess whether the established policies, standards, procedures, processes and controls relating to WCR management are followed and consistently applied across Citi. This objective is achieved by providing assurance to senior management through identification and reporting of thematic deficiencies, operational weaknesses, risk associated with the specific areas, training needs, and processes and quality deficiencies. The QA Program is executed through the completion of Quality Assurance Reviews (QARs) and ongoing monitoring of the in-scope processes and controls.

QA Reviews (QARs) are performed after an in-scope credit risk management activity is completed and are aimed at providing added assurance to senior management by identifying and reporting thematic (as opposed to case-specific) deficiencies, operational weaknesses, risk associated with the specific areas, training needs, and processes and quality deficiencies. The IRQA-WCR staff are independent of the functions and businesses, and have no direct execution responsibility over, the processes and controls subjected to the QA process. The current role of IRQA-WCR Senior Officer (Senior IRQAO) reports directly to one of the Function Heads responsible for driving QARs.

Key Responsibilities:

• Leading and/or executing routine and complex QARs, including support and implementation of the IRQA WCR Program components and synthesizing QAR results
• Supporting Global Head of IRQA WCR and Function Heads in the execution and delivery of a robust IRQA Program
• Supporting preparation, review and challenge of the QAR execution documents and templates
• Providing ongoing mentoring, guidance and coaching to IRQA WCR staff and stakeholders as necessary

• Supporting with the aim to ensure wholesale credit risks within Citi are effectively identified, measured, monitored, and controlled, consistent with the bank’s risk appetite and all policies and processes established within the risk governance framework.
• Under the supervision of an IRQA Function Head, supporting execution of the following specific activities, including:
  • Provide effective credible challenge during QARs to Accountable Executive(s) and Portfolio Leads of the in-scope portfolios, as regards to the quality and completeness of credit underwriting processes, to ensure that weaknesses in such processes are identified and escalated as appropriate
  • Provide review of executed test scripts (as checker) completed by the IRQA Officers (as maker) to ensure consistency of work and reasonableness of conclusions reached

• Synthesizing and assisting in preparation of QA Reports to senior management, to objectively measure and communicate results of QA testing
• Subsequent follow-up on corrective actions that were raised during QARs
• Assisting in creation of, and providing feedback on, or updates to, new and existing IRQA assessment document templates and other templates used in the IRQA Program, including test scripts, and assisting IRQA Function Heads in the sampling process as necessary.

• Supporting IRQA Function Head(s) in staying abreast of relevant changes to rules/regulations and other industry news including regulatory findings.
• Providing ongoing guidance and coaching to IRQA staff, IRQA Guests and to staff of portfolios being subjected to the QA process
• Supporting the Global Head of IRQA on internal projects and initiatives
• Supporting IRQA Voice of the Employee (VOE) initiatives
• Travel (less than 10%)

Qualifications/Experience/Skills/Competencies:

• Bachelor’s degree in finance/accounting, or any other related subject; Master’s degree preferred
• 10+ years