Head of Capital Management is an enterprise Strategic role for Citigroup, owning the enterprise-wide capital planning and management processes for the group, and its legal entities. This important leadership position is a key member the enterprise’s Strategic Planning capability. As a part of this process, the Head of Capital Management manages the enterprise’s Capital Stress Testing processes, working together with the Enterprise Risk function to design scenarios including macro-economic variables and paths which are critical to understanding the organization’s exposures, risks and the inherent strengths and weaknesses of the global business model, which inform the Strategic Plan.
The role is fundamental to ensuring the safety & soundness of Citigroup and the financial system in the US and globally and therefore also plays a key leadership role in the enterprise’s Recovery & Resolution Planning. All enterprise decisions material generating a return, affecting risk appetite and risk levels, maintaining Capital levels are within the remit of this leader’s role at Citigroup.
The Head of Capital Management role reports directly to the Treasurer of Citigroup, leads Citigroup’s Capital Committee, participates in the firm’s Enterprise Stress Testing Governance Committee and related Enterprise Forecasting Governance Committee. This leader presents regularly to the Board of Citigroup, leading topics at the Board Risk Management Committee on a regular basis and presenting at key points in the year to the full Board of Citigroup.
The Head of Capital Management directly manages a team of more than 150 specialist professionals. These professionals fulfill different functions: Capital Forecasting, Capital Risk Analytics, Capital Policy, Governance and Controls, and entity and group Capital Management.
As a part of the direct responsibilities above, the Head of Capital Management, has oversight responsibility for finance professionals and executives across the businesses and functions; staff responsible for any part of the Strategic planning, Financial forecasting, Capital Planning, and current Capital position calculation & reporting processes.
The role requires a broad and comprehensive understanding of the different systems and practices relevant to the function as well as practical experience of business cycles. In-depth knowledge of the industry and direct competitors' products/services is also necessary to contribute to the objectives of the function. The individual should have the ability to gain a thorough understanding of the strategic direction of the function, businesses, and the enterprise. To exercise the influence and have the impact required, the Head of Capital Management is required to have excellent communication, and presentation skills in front of big audiences, and very senior audiences, including the Board of Citigroup and, importantly, its most senior Regulators. To emphasize, the role requires frequent presentations at the firm’s most senior committees including Board committees and the full board, and which comprise the CEO and the leadership team of Citigroup, as well as frequent updates for Regulators and responses to the same on topics of interest to them as they ensure the safety & soundness of Citigroup.
The individual in this role is required to influence a wide range of audiences and partner with a broad spectrum of stakeholders. The Head of Capital Management will be involved in both internal and external negotiations which have a major impact on the both the area managed, and on other areas of Citigroup and the organization as a whole. The holder of the Head of Capital Management role will provide input into strategic decisions affecting the Capital Management function, including management of budgets and planning for the locations of staff. The Head of Capital Management will also have authority to negotiate and make independent decisions on issues/activities that have critical impact or influence on company revenues, capital or business operations, with oversight from the relevant policy, governance and control bodies.
Specific role responsibilities
Capital Planning
Manage the design and execution of Citigroup and Citibank N.A., (CBNA)’s planning process for RWA and capital actions (e.g., dividends and buybacks), including through the
Capital Management
Determine and execute actions impacting RWA and/or buybacks/dividends to ensure Citigroup and CBNA meet all required capital targets, including
Stress Testing
Manage design and execution the ICAAP and Quarterly Multi-Quarter, Multi-Scenario Forecasting (QMMF) process, including
Broader Responsibilities:
Qualifications:
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Job Family Group:
Finance------------------------------------------------------
Job Family:
Fin Solutions Dsgn & Implement------------------------------------------------------
Time Type:
Full time------------------------------------------------------
Primary Location:
New York New York United States------------------------------------------------------
Primary Location Full Time Salary Range:
$250,000.00 - $500,000.00
In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
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Anticipated Posting Close Date:
May 13, 2024------------------------------------------------------
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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