Citi’s has one of largest US bank owned residential real estate portfolios (US-RRE) comprising more than $100 billion in receivables. You will be joining the US RRE Servicing Risk team.

The Director-Default Risk Management is a senior management-level position that will oversee a team of risk professionals accountable for (1) Risk oversight of loans in default inventory including Foreclosure, REO, Bankruptcy, SCRA etc. (2) Default management strategies including equity analysis, foreclosure bid and REO pricing (3) Decision sciences in mortgage default including decision frameworks and models/related governance that support use cases in Default (4) business unit’s adherence with Citi policies and applicable supervisory and regulatory guidelines.

You will work closely with the stakeholders in risk management, policy, independent risk, mortgage-servicing legal & compliance areas supporting both US Personal Banking and Wealth divisions on an expansive set of portfolio objectives to deliver performance aligned with Citi’s risk-appetite framework.

The role requires a strong understanding of the US residential real estate industry, mortgage servicing landscape, supervisory guidelines, applicable regulations, and deep expertise in the mortgage default domain including Foreclosure, Bankruptcy, SCRA, REO etc., risk management in residential real-estate (mortgage, home-equity). In addition, excellent communication skills are required to engage with, influence and persuade key stakeholders internally, often at a senior level. The role may also require some external communication with regulators and sub-servicer.

The Risk Director is responsible for determining the approach and executing functional strategy in the Default Risk Management area and accountable for end-to-end results pf the area(s) under coverage. Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses. Full management responsibility including management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval. Typically, a direct report to a senior leader and integral member of the functional leadership team within a country/site location, job family, or line of business.
Responsibilities:

• Manage a team that oversees strategy, analytics, risk execution (tools) and risk oversight of activities across Default Servicing lifecycle including pre-foreclosure, foreclosure, bankruptcy, REO and other late-stage default populations (e.g., SCRA, litigation etc.) for US residential real estate portfolio.
• Lead oversight of default risk management for Citi’s residential real estate portfolios while meeting applicable internal (Citi policy, risk-appetite) and external guidelines (ex. applicable supervisory guidance, regulations etc.)
• Responsible for end-to-end ownership of all aspects of the function’s responsibilities including strategy, analytics, risk execution, and risk oversight in accordance with Citi policy and applicable supervisory or regulatory guidelines.
• Develop and optimize equity analysis framework (inputs, assumptions, methodology) while delivering results within Citi’s risk appetite while appropriately balancing risk-reward tradeoffs.
• Develop and optimize foreclosure bid pricing strategies (inputs, assumptions methodology) while delivering results within Citi’s risk appetite while appropriately balancing risk-reward tradeoffs.
• Identify and escalate risk and control issues to controls partners and to the CRO with transparency, in a timely fashion and in adherence to applicable policies and procedures.
• Ensure that governance responsibilities of the CRO are carried out, that appropriate controls are in place and operating effectively to manage performance within applicable benchmarks and within risk-appetite.

• Assess the effectiveness of credit risk controls of assigned area of responsibility. Propose pragmatic solutions to risk and controls issues.
• Drive the execution of remediation & corrective actions plans, regulatory commitments etc. as may be applicable to the area of responsibility.

• Interacts with Audit and Risk Review personnel and with external regulators during their periodic reviews of US RRE portfolio.
• Promotes a strong risk management culture and discipline.
• Manages a team or multiple teams of risk-management professionals. Responsible for hiring, compensation, performance appraisals, staff development, training, etc.
• Appropriately assess 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.

Qualifications:

• 15 years of strategy and/or risk management experience, ideally with a large bank mortgage portfolio or equivalent consumer credit portfolio management experience at a leading consumer financial institution with knowledge of consumer residential real estate market and regulatory management in the U.S.
• 5 years of managerial experience including experience as a manager of managers.
• Knowledge and expertise in holistic risk management (identification, measurement, monitoring) risk analytics, risk oversight in addition to default servicing (ex. foreclosure, bankrtuptcy) domain experience desired.
• Ability to navigate complex decisions and situations including engagement with various senior stakeholders (CRO, LOB CEOs, senior business representatives and regulators).
• Strong, clear, concise written and verbal communication capabilities. (ex. complex issues in concise executive summaries).
• Experience in leading highly visible, cross line-of- business initiatives across multiple functions. The ability to work with a diverse group of stakeholders to achieve milestones and meet deadlines.
• Demonstrated ability to establish strong relationships with senior stakeholders and partner effectively with peers across functional areas and lines of business.
• Excellent skills with common Microsoft productivity tools including Outlook, Excel, PowerPoint, Word, Visio. Technical capabilities in SAS/Python/SQL considered a plus.
• Tireless work ethic with ability to work well under pressure, with equanimity while managing a high volume of priorities and deliverables.

Education:

• Bachelor’s/University degree
• Master’s degree with business or quantitative focus preferred.

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

-------------------------------------------------

Job Family Group:

-------------------------------------------------

Job Family:

------------------------------------------------------

Time Type:

------------------------------------------------------

Primary Location:

------------------------------------------------------

Primary Location Salary Range:

------------------------------------------------------

Citi is an equal opportunity and affirmative action employer.

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.

Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View the "EEO is the Law" poster. View the EEO is the Law Supplement.

View the EEO Policy Statement.

View the Pay Transparency Posting

By applying, you consent to your information being processed by SonicJobs and transmitted to the Employer.
See Citi Terms & Conditions at https://www.careers.citigroup.com/terms.html and Privacy Policy at https://www.careers.citigroup.com/privacy.html and SonicJobs Privacy Policy at https://www.sonicjobs.com/us/privacy-policy and Terms of Use at https://www.sonicjobs.com/us/terms-conditions

About the Company:
Citi