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Job Title:
Treasury Risk Manager - SVP
Business:
Risk Management/Finance CRO
Division:
Finance CRO Asia North & Australia/New Zealand Cluster
Grade/Level:
C14
Reporting to: Country Chief Risk Officer & Finance CRO Asia North & Australia/New Zealand Cluster Head
Location: Shanghai
Legal entity: CCCL
Job Purpose:
- Citibank China Company Ltd. (‘CCCL’) is Citibank N.A.’s locally incorporated subsidiary with a full fletched banking license to serve the Mainland China market. The proper Second Line of Defense (‘2LoD’) oversight for the banks Liquidity, Non-trading Market as well as Trading Market Risks is performed by Finance CRO. The role will involve close collaboration with the Treasury team.
- Focus will be on the implementation and management of a regulatory-compliant and robust treasury risk framework for the entity and meeting the needs of local regulators. Among other things, the role will be responsible for monitoring, reporting and escalating Treasury and Global Markets Trading risks to internal and external stakeholders and has to ensure that CCCL complies with appropriate Citi policies and procedures, industry best risk management practices, and regulatory requirements at all times.
Job Background/context:
CCCL’s Independent Risk Management, acts as the second line of defense for the holistic management of risk across all business lines and locations of CCCL. Within Independent Risk Management, the Finance CRO team is responsible for the oversight and monitoring of treasury risk and trading activities in CCCL. The team is also in charge of ensuring that Citi stays within the appropriate Risk Appetite levels of Liquidity, Interest Rate, Investments and Global Markets Risks and Capital Adequacy. Finance CRO is a part of the Independent Risk Management organization as 2nd line, and provides effective and credible challenge to Finance (e.g. Treasury) and Global Markets.
Key Responsibilities:
As part of Finance CRO management global team, this person will help to ensure a sound and robust second line oversight, a consistent implementation of policies & procedures and an optimization of the use of resources.
- Overseeing the design, development, delivery and maintenance of best in class Risk Management programs, policies and practices and sets strategic direction with focus on Liquidity Risk, Interest Rate Risk (IRRBB), Traded Market, Investments and Capital Risk to ensure adherence to Citi’s policies and regulatory requirements.
- Working with Country Chief Risk Officer / Asia North & Australia/New Zealand Cluster Head as well as other Finance CRO clusters, global risk teams and seniors to ensure best in class Risk activities, including policies and procedures.
- Fronting senior regulators on key legal entity related asset-liability management matters to ensure responsible risk taking in line with internal risk appetite standards and prudential requirements.
- Liaise with the global and specialist teams to facilitate consistency, standardization and completeness of controls and challenges of identification so that all processes and their controls are supported by the required documentation and evidence (including credible and effective challenges)
- Providing oversight and guidance over the assessment of broad complex issues, structures potential solutions and drives effective resolution with other senior stakeholders.
- Driving Global Risk projects to improve accuracy of Risk assessment, and implementing these across the country / entity / cluster or region.
- Reviewing and approving of risk framework, as well as monitoring compliance with risk limits/triggers
- Interaction with Other key risk seniors across the region and globe (Market Risk, Credit Risk, Operational Risk) and relevant Finance and Reporting teams to improve accuracy of regulatory and management reporting.
- Establishing professional relationships with relevant regulatory bodies and represents Citi on critical regulatory matters as required. Serves as liaison with regulatory examiners, Internal Audit, and external auditors on critical Risk issues and oversees the implementation of related remediation.
- Directly leading and managing other Risk professionals, with direct accountability for hiring and organizational structure as well as direct oversight for compensation, performance appraisals, staff development, training, etc and input on performance and compensation recommendations.
- Conduct analysis and provide challenge and oversight of ICAAP, Risk Appetite Statements, Stress Testing and other ad-hoc regulatory or legal entity governance projects drawing in appropriate cluster/global market risk resources as required.
- Escalate any issues, with appropriate suggested mitigations, to CCCL’s CRO without delay.
- Participating in new product approval reviews to ensure novel offerings, business launches, and complex products are in line with standards outlined in Citi’s risk policies.
- Participating with voting rights in senior governance forums such as respective entity CCC/ALCO.
- Assessing risk when business decisions are made, demonstrating particular consideration for the firm'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 behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Development Value:
- The successful candidate will maintain and develop the franchise’s framework for review, challenge and oversight of treasury risks. As such, the role will entail top-level exposure across all businesses operating on Citi’s China banking franchise.
- Significant scope for improving processes and practices
- Significant interaction with senior management and regulators
- Breadth of role will provide significant business and personal development opportunities
- Initiating short / long term business strategies overseeing recommendations through implementation
Person Specification
Qualifications & Experience:
- Degree in Quantitative or Financial discipline
- Postgraduate degree in a quantitative or financial discipline would be preferred
- Minimum 10 years of experience within risk management, treasury or support functions with exposure to balance sheet, financial products, financial/risk analysis
- General understanding of treasury products – securities, derivatives, and a broad mix of underlying asset classes
- Knowledge of ALM, Market risk/IRRBB/liquidity models/capital adequacy and regulatory framework will be an advantage
- Prior work experience in material entities and or regional markets
- Fluent in written and spoken English and Putonghua
- Authority to command attention with Treasury/Global Markets and enforce risk decisions in a relevant manner but in a way, which also meets Citi’s risk related policies.
- Interaction with auditors / regulators and understanding of applicable best practice guidelines and regulations.
- Up-to-date working knowledge of regulatory requirements and change, specifically those from Basel and European regulatory authorities (desirable)
Skills & Competencies:
- Subject Matter Expert in asset-liability management, financial instruments, risk metrics and quantitative Risk Management
- Expert analytical, technical, and quantitative skills
- Expert knowledge of treasury, market risk, liquidity management, and derivative products
- 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
- Articulate and effective communicator, both orally and in writing, with an energetic, charismatic and approachable style. Candidates must have effective persuasion skills, the ability to work effectively at the highest levels of the organization, and will display highly effective networking and influencing skill
- Executive presence and a reputation for building effective relationships with stakeholders
- Proficient in MS Office applications (Excel/VBA, Word, PowerPoint) and SQL as well as experience and curiosity in leveraging AI to increase efficiency
- Project management skills
- Ability to work in groups and flexibility in addressing several tasks simultaneously, to negotiate and resolve conflicts
- Team player with proven ability to drive changes
- Business acumen to interact with partners in Risk, Treasury, Markets, and other support Functions Highly developed presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging
- Self-driven and finds it natural to take initiative and set agenda
- Strong tenacity and resilience
- Highly motivated, attention to detail and organized
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Risk Management
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Finance Risk
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Full time
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Analytical Thinking, Credible Challenge, Financial Analysis, Governance, Policy, Procedure, and Regulation, Risk Management Lifecycle.
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Issue Management, Management Reporting, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment.
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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.
