Counterparty Credit Risk Underwriter, Citi

Citi

Location:
United Kingdom, London

Category:
Finance

Contract Type:
Employment contract

Salary:

Not provided

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Job Description:

The Counterparty Credit Underwriter supporting and working on coverage of a global portfolio of sophisticated Institutional Family Office (IFO) clients within Citi Wealth. The role focuses on managing risks, underwriting credit, and working within Citi’s Wealth Management business for key clients globally.

Job Responsibility:

Implementing and applying the Credit Risk Framework for IFOs
Working closely with the IFO UW team lead to maintain and develop further the Wealth IFO governance framework, including the running and administration of regional IFO Forums, the stewardship of the Wealth IFO List, and the provision of advice as needed
Credit manage an assigned portfolio of IFOs globally
Lead, coordinate, or join due diligence (DD) meetings to understand the risk profile and dominant strategy of the IFOs and ensure risk appetite at the Citi level remains adequate
Assess key risks including portfolio concentration and diversification, liquidity, redemption risks if any
Assign Risk Ratings by using appropriate risk methodologies and scoring sheets
Assess risk rating methodology on a periodic basis
Decide client margin tiering and apply appropriate tiering guidelines and margins
Understand key risk dynamics and assessments at a fund/entity level as well as at the investment manager level
Understand the IFOs holding structure and investors base
Understand the client’s investment approach and the resulting portfolio composition
Ensure that facilities are re-underwritten at least annually as part of the annual review process
Assess stress testing (NSE) outcomes and ensure these remain within risk appetite. Investigate and resolve true and technical excesses
Where appropriate and based on specific events occurring, consider classification upgrades, downgrades and triggers
Negotiate credit-related terms in ISDA/CSA, MRA, MSFTA, GMRA and GMSLA and other lending documentation
Build a working relationship network with the origination functions (Banking, Lending Advisors, Investment Counselors, Capital Market Credit Solutions, Global Family Office Group)
Preparation of Credit Applications and packages ensuring accuracy and completeness of data
Financial Analysis including balance sheet and cash flow statements
Collateral Evaluation covering Marketable Securities, Property and other asset classes
Preparing and negotiating credit documentation for facilities, including liaison with external counsel as required as well as undertaking the annual review of documentation
Preparing and reviewing facility covenants (including sourcing applicable covenant certificates, NAV statements etc)
Assisting in Portfolio Management, including CA Annual reviews, facility excesses, covenant monitoring and compliance, waivers and extensions and all related system maintenance
Interacting with clients, trading desks, credit risk, operations and legal
Providing guidance as needed to supporting underwriting and other colleagues

Requirements:

Good track record of experience in Hedge fund credit or related experience
Good knowledge of hedge fund/family office/private equity structures/operations and strategy types, prime brokerage and derivatives/capital market products, ISDA/other trading agreements, securities based lending (margin lending)
Strong grasp of current technologies including stress testing is highly beneficial
Knowledge of capital markets and securities based lending products
Strong analytical skills and ability to decompose transactions into the core risks
Good quantitative skills a plus
Solid Risk and Business judgment on the full spectrum of risk issues including Operational and Franchise Risk
University Degree/Graduate Degree in Business, Finance or Economics or equivalent is a plus

What we offer:

Best-in-class benefits
Work-life balance

Additional Information:

Job Posted:
March 22, 2025

Employment Type:

Fulltime

Work Type:

Hybrid work

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Counterparty Credit Risk Underwriter