Job Description   

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 Vice President-Default Risk Management is an individual contributor risk management position that will be responsible for (1) Risk oversight of loans in default inventory including Foreclosure, REO, Bankruptcy, SCRA etc. (2) 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 Vice President-Default Risk Management is responsible for determining the approach and executing functional strategy in the Default Risk Management area and accountable for end-to-end results of the area(s) under coverage. Impact reflects strategic influence on the business and interaction with other functions or businesses.  

Responsibilities:  

• Participate in the development and management of risk strategies, analytics, and oversight of activities across the Default Servicing lifecycle including pre-foreclosure, foreclosure, bankruptcy, REO and other late-stage default populations (e.g., SCRS, litigation, etc.) for US Residential Real Estate Portfolios 

• Identify and escalate risk and control issues to control partners and senior leadership within the Risk Organization with transparency, in a timely fashion and in adherence to applicable policies and procedures. 

• 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.   

• Establish cross-functional partnerships and networks in order to support the execution of cross-functional business initiatives. 

• Drive compliance with applicable laws, rules and regulations, adhere to Policy, apply sound ethical judgment regarding personal behavior, conduct and business practices, and escalate, manage and report control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail tomaintain these standards. 

Qualifications:  

• 6+ years of default 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.  

• Knowledge and expertise in holistic risk management (identification, measurement, monitoring) risk analytics, risk oversight in addition to default servicing (ex. foreclosure, bankruptcy) 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.  

• Ability to work effectively on virtual teams, including across different geographies and time zones preferred. 

• Demonstrated ability to establish strong relationships with senior stakeholders and partner effectively with peers across functional areas and lines of business.   

• Demonstrated ability to synthesize, prioritize and drive results with urgency. 

• Excellent skills with common Microsoft productivity tools including Outlook, Excel, PowerPoint, Word, Visio. Technical capabilities in SAS/Python/SQL considered a plus.  

    

Education:  

Bachelor's degree/University degree or equivalent experience. 

Job Family Group:

Risk Management

Job Family:

Credit & Portfolio Risk Management

Time Type:

Full time

Primary Location:

Wilmington Delaware United States

Primary Location Full Time Salary Range:

$114,720.00 - $172,080.00

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.

Anticipated Posting Close Date:

Sep 17, 2024

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.

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Citi is an equal opportunity and affirmative action employer.

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