Counterparty Credit (CCR) Underwriters within 1LOD are responsible for the underwriting, approval and extension of credit within the Margin Lending and Capital Markets business of Citi Private Bank (CPB). Citi Global Wealth (CGW) is a single, integrated platform serving clients across the wealth continuum, from the affluent segment to ultra-high net worth clients. Underwriters typically have experience in underwriting plain-vanilla as well as tailored credit solutions to Private Bank clients with a focus on margin lending and derivatives.

Job Summary:

• Credit structuring and underwriting of Capital Markets (PFE) and Margin & Securities-Backed credit facilities for the North America region. Underwriting will focus principally on Exposure limits for derivatives and foreign exchange trading, as well as underwrite Brokerage and Bank Margin Lending facilities and Standby Letters of Credit (SBLCs).
• Manage existing portfolio of Private Bank credit relationships.
• Coordinate margin call deferrals/approvals.

Major Job Responsibilities:

• Responsible, working in partnership with CPB Banker teams, Banking and Lending Originators and Global Capital Markets (GCM) Credit Solutions Team to initiate and underwrite the credit approval of new margin loans and derivative transactions, interim credit applications, and timely completion of annual reviews of existing assigned credit relationships
• Manage the Private Banker teams’ expectations, setting workflow schedules and priorities to ensure timely completion of credit transactions within standard turnaround timeframes and to support Greenlight Memo’s and approvals.
• Ensuring the framework of Wholesale Credit Risk (WCR) Credit Risk Policies, Standard, Procedures and Operating Manuals are followed with respect to Underwriting
• Conducting due diligence, including; risk ratings, borrower, financial and collateral analysis, identifying off-Underwriting Terms and off-Target Market counterparties, and ensuring minimum mandatory disclosures are met for all credit applications.
• Recommending and providing CCR UW credit approval (may provide 1LOD covering initial) for each extension of credit, confirming that each credit approval meets all minimum requirements, including risk rating attestation, and that it’s within the appetite. This includes approvals for interim and new credit approvals, annual reviews, CCMs and any other items which require 2LOD credit approval.
• Preparing and monitoring of borrower compliance with ATE, EOD and other approval conditions
• Participate in document negotiations, and ensuring derivative, margin loan and other associated legal documentation is executed in line with credit approval
• Notifying Special Assets group of potential changes in classification, proposing classification changes and timely completion of CCMs
• Process owner for CCR close-out situations, responsible to ensure that process participants effect the close-out in line with CGWs procedures
• Working with Margin Lending Origination and GCM Credit Solutions Team in coordinating margin call deferrals and approvals
• Monitoring and remediation of obligor and facility level limit excesses in conjunction with Bankers, Transactors and Origination.
• Participating in Rapid Stress Testing to identifying obligors who risk ratings may require adjustment and proposing risk mitigation action plans in conjunction with Bankers, Transactors and Originators.
• Ensuring that Citi is in compliance with all relevant regulations when conducting due diligence.
• Coach and advise banker teams on basic WCR credit policies, standards, procedures, and product structure.
• Working and navigating across all of Citi’s risk and reporting infrastructure to ensure exposures and risks are accurately reported and monitored appropriately
• Working closely with quality assurance to ensure all controls related to the credit applications are adhered to

Knowledge/Skills Required:

• Experience in managing counterparty credit risk and obligor analysis
• Thorough knowledge and experience underwriting Marketable securities backed lending and/or capital markets transactions.
• Experience and working knowledge of standard derivatives and securities backed loan documentation.
• Strong oral and written communication skills.
• Strong organizational skills and ability to manage time effectively in a fast-paced, high volume environment.
• Good working knowledge of systems/MIS such as Word, Excel, PowerPoint, standard credit databases.
• Ability to effectively negotiate with bankers, internal peers, and occasionally external clients, as well as coordinate with outside counsel when necessary.

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