Citigroup
SVP, Remedial Management Senior Officer
Discover your future at Citi. Working at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you'll have the opportunity to grow your career, give back to your community and make a real impact. Job Overview
Special Assets is a dedicated restructuring and remedial management team in Banking & International Risk (BIR) with approval responsibility for the firm's high risk credit portfolio across all lines of business and industries. The Special Assets team oversees credit exposure with adverse regulatory classifications facing various stages of stress or distress and a heightened probability of default. The primary objective of the team is to provide strategic leadership and drive optimal outcomes to maximize the recovery value of the portfolio, while balancing the interests of internal and external stakeholders. Special Assets is also responsible for determining accurate regulatory classifications, risk ratings, cost of credit and carrying values of the exposure under management. Special Assets, as a unit of Independent Risk, is considered part of the second line of defense, which provides review, challenge, and covering approval authority for activities and decisions generally taken in partnership with the business line counterparts. The role requires an extensive understanding and application of credit and counterparty risk concepts across multiple disciplines, including full understanding of how Citi's credit policies, processes, and procedures should be applied to remedial situations. Special Assets has oversight of the bank's most at-risk portfolio, but also provides early-stage consultation on credits that are just beginning to experience potential weaknesses through a formalized assessment process. The team is responsible for setting the account strategy, exposure strategy and providing continual and proactive management as a situation evolves. For active workouts and restructurings, the Transactor will facilitate the day-to-day execution of the remedial strategy and adjust to dynamic situations. The Transactor also works with internal and external clients and advisors to develop and execute solutions, operating as a proactive and vocal leader for the Risk organization. Citi is seeking a driven, dynamic and experienced credit professional to join North American (NAM) Special Assets team as a Senior Vice President Transactor. The individual should possess excellent technical and interpersonal skills, as well as have significant experience handling stressed credit and remedial situations. This role reports directly to the NAM Director will be based in Irving, TX. Responsibilities
Provide strategic direction, transaction execution, and approval for Special Assets-managed credits Work with Special Assets Senior Transactors and valuation team members in the management and execution of the Special Assets portfolio Recommendation and/or approval for credit decisions and certain work product involving the Special Assets portfolio Timely and proactive execution of portfolio management responsibilities, particularly recurring monitoring requirements Accountable for ensuring appropriate regulatory classifications, internal risk ratings and company/asset valuations are approved and reported accurately and on a timely basis, and are in compliance with all policies, processes and procedures to promote a strong governance and controls environment Work proactively, and in a constructive and diplomatic manner, with internal and external stakeholders to advance favorable resolutions on transactions, including direct interaction with borrowers Communicate effectively with internal and external partners, senior management, regulators and other important stakeholders Mentor and develop Special Assets junior staff to advance their skillset and professional effectiveness Participate and/or provide leadership for special projects and various priority initiatives Recommend changes to improve existing processes, policies, and procedures to achieve greater efficiency, governance and controls Competencies
Strong credit sense and ability to articulate a view, work across a range of credit products, with experience in early problem recognition and crisis resolution skills Capable of thought-leadership with demonstrated experience in prior role(s) Effective interpersonal skills, including an ability to be persuasive and build consensus on complex issues Demonstrated ability to manage conflict and influence internal partners, creditors, debtors and other stakeholders who may not share similar views Negotiation and influencing skills, particularly with developing effective strategies and directing legal documentation Excellent communication (written, verbal, presentation and listening) and organizational skills; ability to complete multiple priorities in a timely manner Leadership, coaching and mentoring skills with ability to motivate others in a demanding environment Highly analytical but also able to act with urgency, synthesize complex situations and make timely and well-supported recommendations or decisions Team player and effective collaborator Possess high character and personal integrity Qualifications
10+ years of extensive experience in a credit-oriented role, preferably with a large multinational financial services firm similar organization Highly-experienced credit professional with a deep and relevant restructuring, distressed or comparable expertise Demonstrated corporate finance, business strategy and debt structuring skills, with ability to manage complex transactions and conduct negotiations Proven track record working with a variety of credit products and/or industries, with experience implementing credit policies and remedial management processes Thorough understanding of the risk profile, structure and governing documentation for various credit and market products Hands on experience in stressed and distressed concepts, processes, and associated internal bank accounting (e.g., valuations, cost of credit, etc.) Senior Credit Officer approver designation or equivalent credit authority preferred. Bachelor's degree; Master's/advanced degree(s) and other certifications considered but not required
Discover your future at Citi. Working at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you'll have the opportunity to grow your career, give back to your community and make a real impact. Job Overview
Special Assets is a dedicated restructuring and remedial management team in Banking & International Risk (BIR) with approval responsibility for the firm's high risk credit portfolio across all lines of business and industries. The Special Assets team oversees credit exposure with adverse regulatory classifications facing various stages of stress or distress and a heightened probability of default. The primary objective of the team is to provide strategic leadership and drive optimal outcomes to maximize the recovery value of the portfolio, while balancing the interests of internal and external stakeholders. Special Assets is also responsible for determining accurate regulatory classifications, risk ratings, cost of credit and carrying values of the exposure under management. Special Assets, as a unit of Independent Risk, is considered part of the second line of defense, which provides review, challenge, and covering approval authority for activities and decisions generally taken in partnership with the business line counterparts. The role requires an extensive understanding and application of credit and counterparty risk concepts across multiple disciplines, including full understanding of how Citi's credit policies, processes, and procedures should be applied to remedial situations. Special Assets has oversight of the bank's most at-risk portfolio, but also provides early-stage consultation on credits that are just beginning to experience potential weaknesses through a formalized assessment process. The team is responsible for setting the account strategy, exposure strategy and providing continual and proactive management as a situation evolves. For active workouts and restructurings, the Transactor will facilitate the day-to-day execution of the remedial strategy and adjust to dynamic situations. The Transactor also works with internal and external clients and advisors to develop and execute solutions, operating as a proactive and vocal leader for the Risk organization. Citi is seeking a driven, dynamic and experienced credit professional to join North American (NAM) Special Assets team as a Senior Vice President Transactor. The individual should possess excellent technical and interpersonal skills, as well as have significant experience handling stressed credit and remedial situations. This role reports directly to the NAM Director will be based in Irving, TX. Responsibilities
Provide strategic direction, transaction execution, and approval for Special Assets-managed credits Work with Special Assets Senior Transactors and valuation team members in the management and execution of the Special Assets portfolio Recommendation and/or approval for credit decisions and certain work product involving the Special Assets portfolio Timely and proactive execution of portfolio management responsibilities, particularly recurring monitoring requirements Accountable for ensuring appropriate regulatory classifications, internal risk ratings and company/asset valuations are approved and reported accurately and on a timely basis, and are in compliance with all policies, processes and procedures to promote a strong governance and controls environment Work proactively, and in a constructive and diplomatic manner, with internal and external stakeholders to advance favorable resolutions on transactions, including direct interaction with borrowers Communicate effectively with internal and external partners, senior management, regulators and other important stakeholders Mentor and develop Special Assets junior staff to advance their skillset and professional effectiveness Participate and/or provide leadership for special projects and various priority initiatives Recommend changes to improve existing processes, policies, and procedures to achieve greater efficiency, governance and controls Competencies
Strong credit sense and ability to articulate a view, work across a range of credit products, with experience in early problem recognition and crisis resolution skills Capable of thought-leadership with demonstrated experience in prior role(s) Effective interpersonal skills, including an ability to be persuasive and build consensus on complex issues Demonstrated ability to manage conflict and influence internal partners, creditors, debtors and other stakeholders who may not share similar views Negotiation and influencing skills, particularly with developing effective strategies and directing legal documentation Excellent communication (written, verbal, presentation and listening) and organizational skills; ability to complete multiple priorities in a timely manner Leadership, coaching and mentoring skills with ability to motivate others in a demanding environment Highly analytical but also able to act with urgency, synthesize complex situations and make timely and well-supported recommendations or decisions Team player and effective collaborator Possess high character and personal integrity Qualifications
10+ years of extensive experience in a credit-oriented role, preferably with a large multinational financial services firm similar organization Highly-experienced credit professional with a deep and relevant restructuring, distressed or comparable expertise Demonstrated corporate finance, business strategy and debt structuring skills, with ability to manage complex transactions and conduct negotiations Proven track record working with a variety of credit products and/or industries, with experience implementing credit policies and remedial management processes Thorough understanding of the risk profile, structure and governing documentation for various credit and market products Hands on experience in stressed and distressed concepts, processes, and associated internal bank accounting (e.g., valuations, cost of credit, etc.) Senior Credit Officer approver designation or equivalent credit authority preferred. Bachelor's degree; Master's/advanced degree(s) and other certifications considered but not required