Head of Real Estate Risk - C16 - NEW YORK

The Head of Real Estate Risk is critical role within Banking and International Risk. The role will provide leadership to the Real Estate Risk team and be part of the Banking and International Risk Leadership team. The Real Estate Risk team works closely with the Institutional Credit Management underwriting team as well as the Origination teams across Markets, Banking and Wealth to make approval decisions for transactions as well as portfolio management. This role is expected to provide leadership on risk and diligence issues, industry trends, capital structure, exposure management, syndication strategy, terms and returns.  A critical objective is to provide management and guidance such that this high-risk business remains within appropriate risk tolerances. In-depth knowledge of the industry and direct competitors' products/services is also necessary in order to contribute to the commercial objectives of the business.

Excellent communication skills required in order to influence a wide range of audiences including the Board. The job is likely to be involved in both internal and external negotiations which will have a major impact on the area managed, and possibly on other related areas and organization as a whole. Full management responsibility of multiple teams, including management of people, budget and planning. Will have authority to negotiate and make independent decisions on issues/activities that have critical impact or influence on company revenues, capital or business operations. The role will play a critical role in contributing to the Banking and International Risk Leadership team’s wider strategy and people development.

Responsibilities:

• Manages a team overseeing risks taken in connection with real estate activities which includes extension of credit that are secured by liens on or interests in real estate, direct and indirect private equity and public market real estate investments, capital markets, construction lending, servicing any consumer or commercial loan undertaken when real estate security or real estate activity, or an asset sale, or a refinancing is contemplated as a first or second way out.
• Strategically applies analytical thinking and subject matter expertise to real estate and capital markets matters.
• Partner with Regional Risk heads and global product head(s) to set the risk appetite for real estate globally. Builds partnerships across functions/regions; collaborates with others to identify problems, provide solutions, and reach agreements. Influences decisions that have impact on company revenues and assets
• Participate in all relevant regulatory calls and structuring discussions. Ensure that all risk and relevant return issues are fully vetted and properly addressed or elevated.
• Process all necessary approvals in a timely but responsible manner ensuring that the transactions meet all necessary Credit Policy and Product Program requirements.
• Participate in all appropriate client meetings and property visits to ensure level of due diligence is completed and to maintain market knowledge.
• Work closely with internal auditors and outside regulators to ensure all appropriate compliance requirements are maintained.
• Work with regional risk/PM’s to complete detailed portfolio reviews on a minimum of an annual basis.
• Involvement with senior business and risk management in all regions to ensure full understanding of the issues that are of key concern for the product.
• Stay ahead of the market with an understanding of the effective asset pricing, competitive loan structuring and market supply/demand component.
• Subject matter expert in risk systems infrastructure including key processes, coverage and data flows in order to identify risk effectively. Analyzes risk in terms of its potential impact on the capital and P&L relevant to the business unit. Suggests alternatives to improve Citi's position/approach.
• Assesses the spectrum of risks and how those risks arise from all new product offerings.
• Creates risk mitigation plans and is able to identify early problem detection and prescribed recommended remedial action planning.
• Negotiates (internally and externally) complex products and tools that maintain large impact to the Citi enterprise. Responds to tactics and keeps negotiations on track
• Adds value with subject matter expertise of Key Risk Indicators that are relevant to the areas covered; understands how they are collected; identifies deviations for acceptable levels/trends.
• Establishes plans of action based on complex knowledge of different markets, products, strategies, analytical tools, financial and risk databases and associated risks.
• Leading and managing a staff of Real Estate professionals, with direct accountability for hiring and organizational structure. Has direct oversight for compensation, perfo