Credit Risk Manager (Insurance focus) - Director

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Job Overview

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your extensive knowledge of European insurance companies as a Credit Risk Manager to our Financial Institutions Group (FIG) and Counterparty Credit Risk (CCR) team here at Citi within our Risk Management business.

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.

About Team and Role:

Primary coverage for the role is European insurance companies and therefore proven credit experience of this industry is a prerequisite. The FIG & CCR team also has responsibility for banks, broker dealers, FinTech and FMI clients, hence the ability to adapt to cover other portfolios from a risk perspective as the workflow dictates, is also necessary.

The Credit Risk role is focused on 2LoD review, challenge and decisioning of client and/or transaction level underwriting proposals received from 1LoD incorporating detailed counterparty credit and/or transaction analysis. This role manages and mitigates potential credit losses, safeguarding the company's financial stability and supporting sustainable business growth.

What you’ll do:

• Partner with 1LoD to risk manage designated client portfolio in a proactive and timely manner.
• Provide review, challenge and credit decisioning for the assigned portfolio of FIG clients and/or recommendations to more senior credit officers as needed.
• Independently assess the accuracy and appropriateness of risk ratings and classifications for assigned client portfolio.
• Critically evaluate assigned portfolio(s) identifying and assessing emerging risks.
• Be alert to outsized exposures including CCR factor sensitivities for designated portfolio understand the drivers of Citi’s exposure to these clients.
• Escalate early and often, maintain a culture of no surprises.
• Drive continuous improvement of credit risk processes and standards for assigned entities.
• Identify opportunities for simplification and improvement in credit related processes including the use of Citi AI tools.
• Oversee and validate corrective action plans for identified issues, addressing concerns from control functions.
• Contribute to periodic Insurance related portfolio health reviews for EMEA clients.
• Lead ad-hoc asks for industry specific data and/or analysis as requested by senior 2LoD risk management, in a timely manner, engaging with 1LoD and the Business as necessary.
• Attend meetings with external regulators in respect of the Insurance portfolio as required.
• Promote a collaborative work ethic with stakeholders including ICM, Banking and the Business.
• Contribute to periodic reviews of the insurance CAM templates/guidance and risk rating scorecard.
• Assist the Global FIG&CCR Head and/or 2LoD Global Insurance lead in orchestrating regional and/or global tasks using innovative techniques and methodologies.
• Collaborate with other credit risk families to support the best outcome for Citi, sharing and implementing best practices.
• Make informed business decisions, considering risk assessment, the firm's reputation, and compliance with laws, rules, and regulations.
• Enforce compliance with applicable laws, rules, and regulations, upholding policy and ethical business practices.
• Manage and report control issues with full transparency, using advanced judgment and innovative techniques.

What we’ll need from you: 

• Solid and extensive Credit Risk experience of the European insurance sector including life, non-life and composite insurers.
• An understanding of the European regulatory landscape, topical issues and the key risk considerations associated with these clients.
• Ability to multi-task often to tight deadlines whilst managing stakeholder expectations.
• Experience of Global Markets products including complex transactions and associated legal documentation.
• Demonstrated thought leadership, developing new techniques, methodologies, and approaches for credit risk management.
• Expertise in evaluating complex issues with substantial impact, utilizing in-depth quantitative and qualitative analysis.
• Exceptional communication skills, including clear articulation, effective presentation of complex information, and empathetic response.
• Advanced skills in mediating disputes and advocating for organizational interests with high-level stakeholders.
• A strong team player and collaborative mindset. Capability to challenge established norms and pioneer new approaches in complex domains.
• Proven ability to guide decision-making processes and implement technical solutions effectively.
• Awareness of private credit and private equity as it pertains to the Insurance sector would be advantageous
• Bachelor's/University degree or Master's degree preferred.

What we can offer you:

We work hard to have a positive financial and social impact on the communities we serve. In turn, we put our employees first and provide the best-in-class benefits they need to be well, live well and save well.

By joining Citi London, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as: 

• Generous holiday allowance starting at 27 days plus bank holidays; increasing with tenure
• A discretional annual performance related bonus 
• Private medical insurance packages to suit your personal circumstances
• Employee Assistance Program
• Pension Plan 
• Paid Parental Leave 
• Special discounts for employees, family, and friends 
• Access to an array of learning and development resources. 

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.

#LI-TM3

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Job Family Group: Risk Management

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Job Family:Credit Risk

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Time Type:Full time

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Most Relevant Skills Analytical Thinking, Credible Challenge, Financial Analysis, Governance, Policy and Procedure, Policy and Regulation, Product Knowledge, Risk Controls and Monitors, Risk Identification and Assessment.

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Other Relevant Skills For complementary skills, please see above and/or contact the recruiter.

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