CEP Market Risk Manager (VP)

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CEP Market Risk Manager (VP)-17081740

Role Background:



As a major international banking organisation, Citi manages its business activities across a number of important dimensions such as Product, Geography and Legal Vehicle (LV).  Following the successful merger of Citibank International Plc entity into the Citibank Europe Plc at the start of 2016, CEP is now the main EU banking entity for Citi in EMEA.  It has a presence in 21 countries in Europe, covering several key business lines including Markets & Securities Services, Treasury & Trade Services, Corporate & Investment Banking, and Consumer, with Revenue of approx. $2bn and total assets of $50 billion.  Given the size and importance of CEP in the European Banking arena, CEP is considered a European “Significant Institution” with primary responsibility for prudential regulation of CEP transferring from the Central Bank of Ireland to the Single Supervisory Mechanism of the European Central Bank.

This position is therefore a critical role given the increased systemic importance of the new banking entity, heightened regulatory focus and importance of this strong risk management to the broader entity strategy.


Job Purpose:


•Working with the Head of Market & Liquidity Risk, the CEP Market Risk Manager will be responsible for day to day second line of defence review and challenge of Traded Products and IRRBB businesses in CEP.  This includes independent risk management of market risk, ensuring that it is maintained within approved limits and that there are no un-identified or un-mitigated risks.
•The Market Risk Manager will also be responsible for assisting in new product reviews and ensuring that CEP complies with appropriate Citi policies and procedures, industry best risk management practices, and regulatory requirements in respect of market and accrual book risk.


Key Responsibilities:


•Day to day responsibility for market risk management in CEP, to include Traded Products, CVA and IRRBB
•Close co-operation with product market risk managers responsible for individual CEP products / desks / branches (currently 10 trading desks, multiple banking / accrual businesses and 21 branches).
•Support CEP Head of Market & Liquidity Risk to evaluate Legal Vehicle market risk controls and framework for any new business or strategic initiatives.
•Review / recommend CEP legal vehicle market risk positions, limits, mandates and Pre-approved Product Lists.  Escalate any issues, with appropriate suggested mitigations, to CEP Risk Senior Management without delay.
•Oversee the delivery of market risk reports/commentary to the Board, Risk, ALCO & Market Risk Committees, Regulators and Senior Management
•Assess market risk of New Products for CEP working in close co-operation with senior business sponsors and risk chairs for New Products Committees.
•Prepare market risk component of ICAAPs, ILAAPs, Risk Appetite Statements, Stress Testing and other ad-hoc regulatory or legal entity governance projects drawing in appropriate regional/global Market Risk resources as required.
•Work closely with Global Risk Management to ensure CEP LV risk issues are being identified and addressed
•Ensure that market risk component of relevant audits, inspections and reviews are completed successfully.  Ensure that any market risk follow up actions raised by internal and external audits are diligently performed

Development Opportunity:


Individuals in this role will gain a deep understanding of the market risk management of a major European Commercial Bank, interacting with product heads, senior management and regulators, reporting to ALCO and other key governance forums.  The individual will  participate in developing the markets strategy for the bank, assessing new products and reviewing new opportunities from a market risk perspective, while at all times complying with regulatory requirements.  It is also envisaged that the individual would be cross-trained on liquidity risk management as part of the Liquidity and Market Risk Management Team.



•Authority to command attention with Markets Trading Desks and enforce risk decisions in a relevant commercial manner but in a way which also meets Citi’s risk related policies
•Extensive years of market risk experience in an international banking organisation with a diverse product set across both Trading and Banking book.  Knowledge of liquidity risk would be advantageous.
•Stature and standing to impress the ALCO and Risk Committee of the bank and readily partner with Trading, Business and Risk Management colleagues at a regional level
•Interaction with auditors / regulators and understanding of applicable best practice guidelines and regulations


•Post-graduate education in Finance, Financial Risk Management, or other quantitative discipline.

Skills and Competencies:

•Strong interpersonal and communications skills (written / verbal) at all organisational levels
•Excellent teamwork and project management skills
•Excellent planning and execution skills
•Expresses complex or detailed issues simply so that others understand principals of risk issues despite complexity of models or volume of information
•Sufficient grasp of relevant detail, to escalate when appropriate and to question uncertainties
•Strong tenacity and resilience



Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.


Valuing Diversity:


Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.


Citi is an Equal Opportunities Employer


4 April 2018
Location: Ireland Dublin
Work type:
Full time
Banking and Financial Services
PLEASE! No enquiries from Recruitment Agencies or Headhunters.

Only direct applications will be considered.

This career opportunity is no longer open.
Please search for current vacancies here.

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