Citigroup Global Head of In Business Credit Quality Assurance in London, United Kingdom
Citi Global Wealth (CGW) is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It has been created by combining the Wealth Management businesses across Citi Global Consumer Bank and Citi Private Bank. It serves over 500,000 clients through its global footprint in Asia, EMEA, Mexico, and North America.
Citi Global Wealth delivers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. By building on the strengths and capabilities across Citi, we intend to transform the way we serve clients across the wealth spectrum, delivering the full range of high tech and high touch capabilities Citi can offer, and ultimately help them achieve their goals.
Citi Global Wealth propositions are delivered via tailored offerings across the Citigold, Citi Private Client, and Citi Private Bank brands
The Lending and CCR business of the Citi Private Bank offers a diverse product range including Margin Securities Backed Finance (MSBF), Commercial Real Estate (CRE) and Residential Real Estate finance (RRE), Aircraft, Subscription Credit Facilities (SCF), Art-backed Finance as well as tailored solutions to target market clients of the Private Bank.
Wealth Credit Management (WCM) is a critical component of the First Line of Defense for credit risk management and works with Independent Risk partners to ensure best-in-class risk and controls, as well as client responsiveness. Key responsibilities of the group include credit analysis, documentation, risk identification, exposure monitoring and associated administration associated with Citi Global Wealth lending activities. WCM coordinates with the Institutional Credit Management function in ICG to ensure full alignment on business and regulatory goals as they relate to wholesale lending, as well as consistency and best practices where appropriate.
Within WCM, the In-Business Credit Quality Assurance (IBQA) function verifies that established standards and processes are followed and consistently applied. WCM and CCR Management uses the results of the quality assurance reviews to assess the quality of the group’s policies, procedures, programs, and practices as they relate to lending. The results help management identify operational weaknesses, risks associated with the function, training needs, and process deficiencies. The Head of In Business Quality Assurance reports results of Quality Assurance Reviews (QARs) to WCM and CCR Management as well as to Independent Risk, and critical partner stakeholders and regulators.
Set the global strategy for and lead the implementation and ongoing delivery of a robust Quality Assurance function for CGW lending and CCR across all applicable portfolios and geographies ensuring close co-ordination and alignment with the Institutional Credit Management Quality Assurance for wholesale lending.
Accountability for maintaining and updating the Wealth Credit Quality Assurance Standard and Operating Procedures ensuring close co-ordination and alignment with the Institutional Credit Management Quality Assurance for wholesale lending.
Ensure effective credible challenge to Business Managers and Risk Management, and other internal stakeholders through Quality Assurance Reviews (QARs) to ensure that weaknesses in processes are identified and escalated as appropriate
Accountable for leading the Quality Assurance team which is responsible for execution of the following:
Consistent and objective assessments during QARs
Subsequent follow-up on corrective actions that were raised during QARs
Sustainability testing of corrective actions resulting from issues raised by Internal Audit or Regulators
Synthesize and prepare quarterly Quality Assurance Scorecard Reports to management that communicate and measure results and identify negative trends and potential solutions
Act as a change agent coaching staff in areas with noted deficiencies and sharing any observed best practices
Continuous and disciplined interaction with the respective senior management of the CGW Lending Business, Risk Management and other stakeholders, in order to ensure that quality assurance protocols are adequate for all portfolios
Ensure ongoing and timely feedback and coaching of Quality Assurance staff to sustain a strong control culture and an unwavering commitment to excellence in execution
Serve as subject matter expert on credit quality assurance
Attract, develop and retain top quality assurance staff
Support management on internal projects and initiatives
Support ICG Voice of the Employee (VOE) initiatives
Travel (up to 25%)
Quality Assurance:: Proven knowledge and experience on designing and implementing robust Quality Assurance framework from initial assessment of concerns and monitoring strategy, execution of scripts and procedures, development of housing infrastructure and database maintenance, reporting to senior management of observed findings
Strong grasp of the lending processes so as to evaluate findings within the Quality Assurance process, provide a credible challenge to groups subject to review, determine materiality, and partner with senior stakeholders for ongoing improvement, problem detection, and sustainable remediation
Recognized as a skillful manager who effectively delegates, provides feedback and coaches the team proactively
Assesses and identifies top talent to add to the team, and actively seeks talent with diverse backgrounds and experiences
Proactively engages team, partners and seniors to collaborate across the organization and takes a holistic client-centric approach
Creates alignment and transparency across the team by openly communicating both team and individual goals and development areas, connects team purpose to overall ICM strategic vision
Demonstrates, implements and adheres to the control environment including Quality Assurance and Quality Control. Identifies gaps and proactively raises issues to remediate operational risk
Proven culture carrier
Highly Effective interpersonal skills, with the ability to build relationships and exert influence with and without direct authority with Senior Levels of Management
Solid organizational skills with ability and willingness to work under pressure and manages time and priorities effectively
Exceptional written and verbal communication skills, with the ability to communicate clearly and concisely to audiences of varying levels of seniority
Ability to manage projects with little to no supervision
Seasoned Microsoft Office (Word, Excel, and PowerPoint) skills
BA/BSc or higher degree in Business (MBA), or any other related subject
Extensive experience in a banking, credit risk management, internal audit, loan review or quality assurance review function at an investment or large commercial bank
Job Family Group:
Private Client Product Services
IF Margin & Sec Backed Finance
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