Managing Director, Head of Fixed Income, XVA, Treasury, Wealth Investment Model Validation

The Model/Anlys/ValidExec Grp Mgr role resides in Citi’s Global Model Risk Management (MRM) group and manages multiple teams of highly specialized and quantitative professionals. The job requires a broad and comprehensive understanding of the different theories and practices relevant to the Model Risk Management function. In-depth knowledge of the industry and relevant regulatory requirements are necessary in order to contribute to the risk control and commercial objectives of the function. Requires thorough understanding of strategic direction of the function within the business, combined with a solid conceptual/practical grounding in both the function and the underlying business areas. Excellent communication skills are required in order to influence a wide range of audiences. The job involves both internal and external negotiations which will have a major impact on the areas managed, and possibly on other related areas and organization as a whole. Develops short, medium and long-term plans and executes functional strategies for a large and complex group and functional areas. Provides input into strategic decisions affecting job family or function within a region or business. Full management responsibility of multiple teams, including management of people, budget and planning. Has authority to negotiate and make independent decisions on issues/activities that have critical impact or influence on company’s risk management and business operations.

Responsibilities:

• Manages model validation teams responsible for model validation and other Model Risk Management activities for models developed and used primarily by Citi’s trading desks in Fixed Income (Interest Rates, Credit, Mortgage/ABS) and XVA (CVA/DVA/FVA for all asset classes), and in Treasury and Wealth Investment functions
• Implement requirements and standards of Citi Model Risk Management framework and manage related reporting
• Ensure that all MRM deliverables, including model validation, MRM review of models’ annual model review, ongoing performance monitoring, limitation remediation etc., are met timely in accordance with the requirements and standards of the MRM framework
• Develop and execute strategies and cross-functional initiatives within the organization, build strong relationship with stakeholders, overcome challenges and drive impact
• Communicate model risk control issues timely with stakeholders and senior management with transparency and drive compliance with Citi Model Risk Management Policy across the firm
• Represent Citi MRM in the discussions with internal/external auditors and regulators for areas covered
• Drive compliance across the organization with Citi policies, applicable laws, rules and regulations
• Create a diverse and inclusive environment enabling employees to be the best
  
  

Qualifications:

• 15+ years of relevant experience (model development/validation/finance/model process/projects etc.) in the financial industry or related academic areas, with emphasis on model validation or development of risk-neutral pricing models in Fixed Income and XVA areas
• Experience of managing a sizable group in model validation or model development for multiple asset classes/businesses/functional areas
• Strong analytical capability and innate ability to define difficult or complex problems, generate alternative solutions, evaluate and make optimal selection, implement and follow up on the solution, and handle highly complex escalated matters
• Outstanding skills in strengthening Risk & Controls and business performance and driving transformation, preferably in a financial institution
• Capable of fostering a strong and resilient culture that prioritizes excellence and accountability
• Highly motivated with attention to detail, team oriented, organized
• Ability to interact and communicate effectively with senior leaders
• Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views
• Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
• Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
• Demonstrated track record of effectively assessing and managing competing priorities
  
  

Education

• Advanced degree preferred in economics, finance, operations research, statistics, (applied) mathematics, or other sciences/engineering disciplines
  
  

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Job Family Group:

Risk Management

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Job Family:

Risk Analytics, Modeling, and Validation

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Time Type:

Full time

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Primary Location:

Long Island City New York United States

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Primary Location Full Time Salary Range:

$250,000.00 - $500,000.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Anticipated Posting Close Date:

Oct 02, 2024

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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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