Wealth Residential Real Estate Risk Policy and Underwriting Group Manager, Director (Hybrid)

About Citi Wealth:

Citi Wealth brings together the full power of Citi to serve the entire continuum of wealth clients, from affluent to ultra-high net worth to family offices. Our target segments include:

• Citi Private Bank (CPB): Dedicated to serving the world’s wealthiest individuals and their families and offering customized services to help protect and responsibly grow their wealth.
• Wealth at Work (WaW): Catering to busy professionals, including lawyers, consultants, accountants, asset managers, and more, providing tailored wealth solutions to achieve their unique financial goals.
• Citigold and Citigold Private Clients (CPC): Offering the highest tier of banking at Citibank, featuring dedicated financial planning, world-class investment capabilities, select products, and exclusive benefits.

About Wealth Residential Real Estate (RRE) Risk:

Wealth Residential Real Estate (RRE) provides residential property financing to our target market clients across CPB, WaW, Citigold and CPC. With over $90 billion in global exposure, RRE is a critical product offering within Wealth Lending.

Wealth RRE Risk is a Second Line of Defense (2LOD) team within the Wealth Independent Risk Management organization. We provide independent risk oversight for lending portfolios and broader risk-taking activities within the Wealth lending business, ensuring these activities remain within defined risk appetite and limits. We are responsible for establishing and managing Citi's global credit policy, standards, and risk appetite boundaries for Citi Wealth lending business.

Role Overview:

The Wealth Residential Real Estate (RRE) Risk Policy and Underwriting Group Manager is a senior credit risk role, reporting to the Head of RRE Risk. This role provides independent risk oversight and challenge to the RRE lending business activities, with a primary focus on credit underwriting policy, process, and the quality of loan production within the First Line of Defense (1LOD) business.

Key Responsibilities:

• Credit Policy and Standards: Develop, maintain, and implement global credit policies and underwriting standards for RRE lending, ensuring alignment with Citi's risk appetite and regulatory requirements.
• Underwriting Oversight: Provide independent risk assessment and challenge to 1LOD underwriting practices, identifying and mitigating potential risks.
• Loan Approvals: Conduct in-depth risk assessments and provide approval recommendations or for high-ticket and/or complex RRE loans escalated to 2LOD.
• Credit Quality Monitoring: Monitor RRE loan portfolio performance, identify trends, and recommend corrective actions to maintain credit quality.
• Risk Assessment and Reporting: Prepare and present comprehensive risk assessments and reports to senior management, highlighting key risks and mitigating strategies.
• Regulatory Management: Support the Head of RRE Risk in regulatory examinations and inquiries, ensuring compliance with relevant regulations and guidelines.
• Global Risk Initiatives: Participate in and support various global risk initiatives, contributing to the enhancement of Citi Wealth's risk management framework.
• Leadership Through Individual Contribution and Influence: As a senior member of the RRE Risk team, demonstrate leadership through proactive engagement, individual contribution, and impactful influence. This includes hands-on execution of key responsibilities such as loan approvals, in-depth risk assessments, leading discussions and drive action items in portfolio quality reviews and policy discussions and meetings (including taking minutes and managing follow-up items), developing and delivering presentations and conducting data analysis.  Successfully managing assigned tasks and producing accurate, timely deliverables is essential for contributing to a positive team environment and achieving departmental goals.
• Cross-Functional Partnership: Build strong partnerships and exercise influence with 1LOD business, Finance, Legal, Compliance and other critical Risk oversight teams, to ensure adherence to risk appetite, policy compliance, and sound risk management practices.

Qualifications:

• Extensive Credit Risk Experience: 15+ years experience in private bank and/or retail bank credit risk management, with a specific focus on residential real estate lending and a deep understanding of high-net-worth clientele. Senior Credit Officer (SCO) designation or equivalent with 3 or more years making credit d