Citi · 2 days ago
Clearing House Risk Quantitative Manager - Director
New York New York United States
Full-time
Hybrid
Senior Level, Lead/Staff
$170K/yr - $300K/yr
10+ years expCiti is a global financial services company, and they are seeking a Director of Clearing House Risk to lead their Wholesale Credit Risk framework. This role involves overseeing quantitative risks associated with Central Counterparties and Financial Market Infrastructures, developing robust risk analysis frameworks, and engaging with regulatory bodies.
BankingFinanceFinancial Services
Responsibilities
Develop and refine Citi's quantitative CCP risk management framework and align internal risk appetite, while contributing to overall FMI risk strategy
Proactively identify emerging risks trends related to CCPs and broader FMIs
Collaborate with Markets and Prime Services lines of business more generally to develop internal tools and analytics to forecast and explain margin variances
Conduct in-depth reviews and critical challenge of the margin methodologies (Initial Margin, Variation Margin and Guarantee Fund) applied by CCPs globally
Assess the assumptions, parameters, and calibration of CCP margin models for their appropriateness, robustness, and potential impact on Citi's capital and liquidity
Propose enhancements or alternative approaches to internal stakeholders
Engage externally with CCPs and regulators to discuss methodology analysis, its shortfalls and potential remediation
Conduct in-depth analysis of CCPs’ default resources, recovery and resolution plans, and its potential impact on Citi
Evaluate CCP rule changes, new products, and services for their quantitative risk implications to Citi
Challenge and validate CCP risk models, stress test methodologies, and margining approaches
Act as a primary point of contact for regulatory inquiries and examinations pertaining to quantitative elements of CCP risk
Participate in industry working groups and forums related to CCP risk management and their regulatory developments
Collaborate closely with Front Office businesses (e.g., Equities, Fixed Income, Derivatives, Prime Services), Operations, Technology, Legal, and other Risk functions to ensure integrated and consistent risk management
Provide expert advice and challenge to senior management on clearing-related risk topics
Develop in depth training framework for 1st and 2nd line credit colleagues on the different methodologies applied by CCPs and underlying asset classes
Provide guidance, yet also review and challenge margin methodology analysis by credit officers
Qualification
Required
Bachelor's degree required
10+ years of experience in financial risk management within a large financial institution, with a significant focus on clearing houses, their quantitative models, and trading activity
Deep and demonstrable understanding of CCP margin methodologies, parameters, and their quantitative implications as well as the regulatory environment in which these operate
Experience with various asset classes cleared through CCPs
Exceptional analytical and quantitative skills, with the ability to interpret complex financial data and risk metrics, particularly related to margin methodologies
Strong communication, influencing and presentation skills, with the ability to articulate complex risk concepts to diverse audiences, while also able to manage, train and mentor junior talent
Proficiency in risk management systems and data analysis tools including basic coding and Tableau
Preferred
Master's degree or Ph.D. in Finance, Economics, Quantitative discipline, or related field
Professional certifications (e.g., FRM, CFA)
Experience comparing various asset classes and CCPs globally
Prior experience working with or providing risk insights to lines of business, clients and regulators
Benefits
Medical, dental & vision coverage
401(k)
Life, accident, and disability insurance
Wellness programs
Paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays
Company
Citi
Citi's mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.
10001+ employees
H1B Sponsorship
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Funding
Current Stage
Late StageLeadership Team
James Monahan
Managing Director / Global Head of Asset Servicing
Naveed Sultan
Managing Director, Chairman, Institutional Clients Group
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