ICAAP Oversight Manager

Role Introduction/Overview

The successful candidate can expect to participate and shape the outcomes for Citi’s largest and most sophisticated internationally regulated legal entities; influencing the optimised capital investment profile for the Group around the world.  They will bring experience of unique ICAAP oversight to identify thematic actions for the Group around the world driving best practice for model outcomes, scenario design and ICAAP processes.

Description

As a senior professional you will be responsible for driving the oversight of ICAAP submissions for the Internationally regulated Material Legal Entities. You will take responsibility for the oversight of ICAAP outcomes and play a key role in identifying thematic optimization opportunities as it relates to the production process, quantitative modelling outcomes, controls and US prudential alignments. In this role you are also expected to provide expert guidance matters of policy interpretation, best practice, training and leadership to the wider team as it relates to Global ICAAP activity for all entities. Identify any potential read-across benefits to the capital management framework in the ordinary course of business.

Business/Team:

The International & Entity Capital Management team, as part of Group Treasury, will work closely across International Treasury, other Finance and Legal Entity (LE) teams to drive the broader capital efficiency and planning efforts of the firm for all legal entities subject to local country regulations. The team is responsible for the long-term capital strategy for International LE’s, targeted optimization of Group invested capital, consistent approach to capital management globally ensuring consistent frameworks are applied globally for local entity capital structures, capital repatriation considerations and forecasting for local regulatory requirements in the countries. Working with BSM and Tax, the team will define and implement capital structure efficiencies, identify strategies to optimize use in local subsidiaries and improve the effective tax rate for the firm.

Some of the key responsibilities in the Role include:

Collaborate across a variety of functions, primarily in Finance and Risk, to oversee compliance and optimization of the ICAAP capabilities for Tier 1 entities

• Operate with independence in collaborating across functions, legal entities and regulatory jurisdictions in identifying thematic opportunities to improve Citi’s capital efficiency around the Internationally Regulated Entities.
• Drive the initiative across the ICAAP team to maximise best practice in governance, controls, process efficiency and quantitative modelling to protect the safety and soundness of Citi’s legal entities around the world in a manner than is structurally optimized for the Group.
• Partner with Balance Sheet Management and Liquidity Management functions in Citi Treasury to design a consistent approach to Treasury owned aspects of ICAAP (IRRBB and Liquidity / Funding risk) to be implemented across Citi ICAAP banks.

• Support the continuous improvement of Citi’s Policy suite as it relates to ICAAP through a collaborative firmwide consultation and deliver a robust control framework design for the ongoing oversight of Legal Entity policy compliance.  Identify thematic items with regard to Issues, Models, Regulatory feedback, Audit items and other control matters for the wider benefit of the international network.
• Act as a transparent SME to senior stakeholders and team members including timely and effective escalation. Engage stakeholders including project sponsors and project managers, country CFOs/Controllers, CROs/Risk, regional managers, and Technology seniors.
• Lead by example for the wider team. Ensure team colleagues are coached on our processes and are clear on expectations.
• Develop and lead training for legal entities in respect of aspects of the Global ICAAP Standard and associated controls.

Development Value:

• As part of Group Treasury, this is an opportunity to learn and influence how a global banking group optimises capital investment around the world to maximise shareholder value.  Whilst operating in the Capital function; decision-making is always commercially holistic understanding the consequences across liquidity/funding.
• International management of capital is complex and intellectually rigorous; needing to understand the competing nuances of home/host regulations through franchise value and group value.  This role engages with Citi’s largest, most important and most complex legal entities around the world.
• Managing capital is the responsibility of local senior management and the legal entity board.  Influencing skills will need to navigate the competing priorities of the senior management of legal entities.

Skills requirements

Appropriately assess risk when business decisions are made, demonstrating consideration for the Bank’s reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to policy, applying sound ethical judgment regarding personal behaviour, conduct and business practices, and escalating, managing and reporting control issues with transparency.

• Ability to understand and challenge base and stress balance sheet, P&L and Pillar 1 and 2 risk numbers, capital planning and balance sheet modelling, risk appetite and reverse stress testing.
• Strong communicator with an ability to lead discussions in executive meetings and to communicate clearly and succinctly with senior management, line managers and stakeholders. Strong writing skills.
• Familiarity with Citi’s international legal entity structure will be preferred.
• Strong understanding of Global regulatory landscape and current developments (e.g. PRA and EBA Stress Testing, Pillar 2,) with a working knowledge for other markets
• Bring new ideas to the table for the benefit of Citi and propose implementation solutions.

Qualifications:

• 12+ years of experience in Finance including ICAAP delivery.
• Must have advanced analytical skills but also the ability to see the big picture
• Excellent communication skills are imperative i.e. ability to make complex subjects easily digestible for senior management
• Ability to multitask in a fast-paced environment Ability to interact with all levels of management
• Must be a team player

Education:

• Bachelors degree, potentially Masters degree

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Job Family Group:

Finance

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Job Family:

Balance Sheet Management

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Time Type:

Full time

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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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