Senior Quality Assurance Officer - Wealth Credit Management –Citi Global Wealth (CGW)
Citi Private Bank
Citi Global Wealth (CGW) is a trusted advisor to the world's wealthiest, most influential individuals and families. Like Citi's government, institutional and multinational corporate clients, CGW clients receive bespoke service and access to the best ideas and solutions tailored to their unique needs and aspirations. CGW offers a wide range of products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance and banking. Among its select clients are a third of the world's billionaires, many of whom are globally minded entrepreneurs with an expectation of an institutional level of service, who take advantage of Citi's holistic approach to wealth management. CGW is represented by more than 1,000 private bankers, investment professionals and product specialists across a network of 90 offices in 33 countries and over 128 currencies worldwide, making it the most global private bank. Job Background/Context:
The Wealth Credit Management (WCM) business of CGW offers a diverse product range covering margin and security backed finance, commercial real estate and residential real estate finance, aircraft, subscription credit facilities and art backed finance.
The Senior QA Officer role within the CGW division revolves around ensuring established standards and processes are followed and consistently applied, through the use of quality assurance reviews for the entire suite of loan products. Job Purpose:
- Wealth Credit Management (WCM) is an integral part of the credit management organization for Citi Global Wealth (CGW).
- The WCM mandate is to deliver best-in-class credit risk analysis, monitoring, and credit administration to CPB clients globally, partnering with CPB Risk Management.
- The WCM Quality Assurance function (QA) verifies that established standards and processes are followed and consistently applied. CGW Management use the results of the quality assurance reviews to assess the quality of the group's policies, procedures, programs, and practices as relates to risk analysis. The results help management identify operational weaknesses, risks associated with the function, training needs, and process deficiencies.
- The Senior Quality Assurance (QA) Officer executes and participates on Quality Assurance Reviews (QARs), providing feedback, insight, and observations on any deficiency and areas of improvement, engaging with the management of the WCM, Independent Risk, and critical partner stakeholders and regulators.
- The successful candidate will need to be a self-starter, who can successfully work in a team environment often under time constraints and be able to take decisions under pressure in the best interest of the shareholder ensuring adherence to all processes and procedures as well as the integrity and consistency of the supporting data and documentation for a given transaction.
- This role reports to the Citi Global Wealth (CGW) - Wealth Credit Management (WCM) - Senior QA Officer - Head of QA.
- Completion of Quality Assurance (QA) reviews to support loan originations, annual and interim credit reviews of all the CPB's core loan products - Margin and Securities Backed Finance (MSBF), Residential Real Estate (RRE), Commercial Real Estate (CRE), Subscription Credit Facility (SCF), Law Firm Group (LFG) and other tailored loans as required, including Aircraft and Art.
- Detailed knowledge of the Global and Regional Product Programs and CPB Credit Policies which govern the lending criteria for MSBF, RRE, CRE, SCF facilities and other transactions types as required and as specific to each geographic region.
- Detailed knowledge of the core CGW lending systems - Credit Platform and Credit Approval Accelerator. Good working knowledge of supporting systems - OneSource and Document Management Systems (DMS).
- Performance of monthly QA sampling work, to self-test the business's compliance with its own lending standards under the Managed Control Assessment (MCA) framework; reporting of findings as required providing effective credible challenge during QA reviews to WCM Region Heads and Portfolio Managers, Citi Global Wealth Risk Managers and Quality Control Officers
- Identification and escalation of red flags and non-compliance with business procedures, policies, and guidelines to the Head of QA and WCM underwriting teams to ensure timely resolution.
- Production, issue and tracking of monthly and quarterly reports in support of the QA function that communicate and measure and identify negative trends and potential solutions.
- Support the Citi Global Wealth (CGW) - Wealth Credit Management (WCM) - Head of QA in all aspects of running the QA team.
For the right individual this role provides an excellent opportunity to develop new quality assurance and control skills that are applicable in any commercial bank setting, with the added benefit of being in a position to see the entire breadth of the loan product offering in the portfolio management capacity. Person Specification Qualifications:
- BA/BSc or higher degree in Business (MBA), or any other related subject.
- 5-7 years relevant experience in a banking, credit risk management, internal audit, loan review or quality assurance review function at an investment or large commercial bank.
- Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Job Family Group:
- Excellent working knowledge of Excel, Word, and PowerPoint.
- Working knowledge of core CGW systems desirable but not essential.
- Excellent communication (written and verbal)
- Strong interpersonal and organizational skills
- Excellent attention to detail
- Ability to work under pressure to tight deadlines
- Demonstrates initiative with an interactive approach to problem solving
- Team player
Private Client Product Services Job Family:
IF Lending Generalist Time Type:
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