Citi VP Risk Modeling and Analytics Manager in New York
Primary Location: United States,New York
Education: Bachelor's Degree
Job Function: Risk Management
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 17065959
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition at http://www.citigroup.com/citi/about/mission-and-value-proposition.html explains what we do and Citi Leadership Standards at http://www.citigroup.com/citi/about/leadership-standards.html explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
Model risk refers to the possibility of a financial loss, incorrect business decisions, misstatement of external financial disclosures, or damage to the company’s reputation as a result of errors in model design (data, theory, assumptions, and interpretation), errors in implementation/execution, and misapplication of model uses or unnoticed deteriorating performance. As any other financial institution, Citi relies heavily on financial and economic models for various applications (risk management, valuation, financial / regulatory reporting, customer targeting, among others). The level of sophistication of models used ranges from spreadsheet tools to complex statistical models implemented in various systems.
Citi is in the process of centralizing all the core processes related to model governance in a system called iMRMS. The objective of the position is to support iMRMS enhancements design and data quality corrections.
The role will be responsible for identifying and correcting data quality issues in iMRMS and capturing the needs of the users, translate them into workflows and design BRDs of functionalities that will need to be implemented.
Model Risk Management is one of the key emerging risks in banking. As such, the job offers the opportunity to be in an area in which processes and regulation are evolving as opposed to a job where the framework to operate in is already defined and settled. Therefore, this entails high visibility in the organization, interaction with various stakeholders ranging from model validation, CCAR, infrastructure and O&T.
The role provides a unique position to have a comprehensive view of all the models used by a Global Bank across different geographies, businesses and functions.
The role requires the following skills:
a) Proficiency in Excel (VBA), SQL/ programming
b) High analytical skills
c) Good communication skills, attention to detail combined with the ability to synthetize for high level communication.
d) Ability to design workflows: breakdown high level actions into concrete tasks, identify dependencies, decision points, opportunities for streamlining, etc.
e) Collaboration skills: works a team player, seeking to engage with others to achieve results
f) Practical decision maker focused on execution: Ability to recognize what the end-state should be, but to execute smaller steps in order to materialize results quickly
g) Thrive in uncertainty and ability to handle multiple projects concurrently
The job requires the following qualifications:
a) Academic: degree in mathematics, engineering, computer science or similar
b) Professional: Familiarity with O&T developing cycle as well as with model life cycle