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C15 – Capital Planning Quality Assurance, CCAR & RRP Engineering Head

Citigroup Inc.

This is a Full-time position in New York, NY posted June 11, 2021.

Citi’s technology team is growing at lightning speed, and we’re looking for talented technologists to help build the future of global banking. Our teams are creating innovations used across the globe – we’re changing the way people bank and how the world does business. Citi’s technology team supports business operations in 100+ countries, across multiple lines of business spanning both Institutional and retail businesses. The group works to optimize the IT environment by standardizing production platforms, reducing complexity, and introducing innovative solutions that provide new business capabilities, reduce total cost of ownership, and create a competitive advantage for Citi. Join an environment with a laser focus on growth and progress, and take your career to the next level through the power of Citi’s unmatched globality and vast expertise.C15 – Capital Planning Quality Assurance, CCAR & RRP Engineering HeadThe Capital Planning team within Citi Treasury is responsible for all aspects of capital analysis, forecasting, and planning for Citi, including providing programmatic leadership for the firm’s capital ratios; Risk Weighted Assets (RWA); CCAR; and Recovery & Resolution Planning (RRP). The organization spans the full capital planning continuum, with the Head of Capital Planning reporting to the Citi Treasurer.The Capital Planning team has created a dedicated Quality Assurance function, headed by a Managing Director, that articulates how and why Citi can take confidence in the outputs of its capital planning processes. This is an essential function to maintain the requisite level of transparency and accountability throughout the end-to-end capital planning processes, which over time must be harmonized between all points of the stress continuum, from BAU (including spot RWA) to stress (CCAR) to severe stress (Recovery), to the ultimate resolution of the firm. The Capital Planning Quality Assurance (CPQA) function is responsible for two key aspects of capital planning: 1) understanding, contextualizing, aggregating, synthesizing and reporting the key Assumptions, material model Limitations and Weaknesses (collectively, ALWs) across Citi’s capital planning processes, with a specific and immediate focus on CCAR and RRP; and 2) ensuring sufficient quality assurance and other compensating controls are in place to effectively mitigate the impact of any such key Limitations and Weaknesses.This role will support the Head of CPQA Engineering by crafting a strategic, firm-wide process to design and substantively test CCAR and RRP in a sustainable way, including solutions to the relevant Weaknesses in the control environment currently present in Citi’s CCAR and Recovery & Resolution Planning processes. The candidate will partner with the CPQA Assumptions & Limitations Lead to articulate the compensating controls necessary to ensure overall soundness and adequacy of Citi’s capital planning. This role will make recommendations to management for improvements to the CCAR and RRP production processes, and coordinate with Capital Planning, Treasury and Finance Transformation Office leadership to ensure the discovered issues are appropriately prioritized and addressed.This role will play an integral part in executing the firm-wide, cross-functional plans necessary to close the gaps identified by the Consent Order and other relevant regulatory-focused deliverables over a multi-year timeframe.This is a highly strategic “build the bank” and “run the bank” role that will provide significant exposure to senior management and will partner extensively with colleagues across Finance/FRSS; the CCAR and RRP workstreams; technology and data governance teams; 2nd line of defense functions including the Capital Planning Review Group; and front office business lines. Ability to work under pressure to meet tight deadlines and excellent interpersonal skills are required given the high level of interaction with senior managers, auditors and regulators.Reporting StructureandResponsibilitiesThe CPQA CCAR & RRP Engineering Head will be responsible for:* Supporting the Head of CPQA Engineering to “tell the story” as to how and why Citi can take confidence in its capital planning processes and outputs, and how those processes can improve over time, particularly as they relate to the compensating controls necessary to mitigate the risk of control weaknesses found in the current process.* Delivering thought leadership and supporting the implementation of changes necessary to enhance Citi’s capital planning processes and satisfy evolving regulatory developments, including criticisms articulated in the recent Consent Orders* Enabling continuous improvement by partnering with workstream leads and senior stakeholders to proactively design solutions for identified weaknesses or gaps in compensating controls* Developing a strong working relationship with process owners across the organization in support of their individual responsibilities and in support of creating a holistic framework in which the firm executes its collective capital planning responsibilitiesQualifications* Strong background in public accounting or internal audit, with demonstrated understanding of internal controls.* Exceptional communication skills, including well-developed verbal, written and presentation skills. Must be able to quickly create concise, informative executive summaries for internal and external stakeholders that convey a well-developed “story” and advocate for a well-reasoned point of view.* Creative skills necessary to craft persuasive, well-researched narratives for senior consumption.* Aptitude for translating strategy into execution in a complex and cross-functional organization.* Strong attention to detail with proven ability to distil complex ideas into simple stories.* Previous experience in Treasury or Controllers functions is preferred.* Understanding of capital markets and/or institutional banking is a must.* Minimum 15 years of proven experience in driving results with a strong understanding of the financial services industry.* Strong audit instincts and ability to apply independent judgment to historical business practices, with a proven ability and willingness to challenge the status quo.* A self-starter with ability to independently manage work and drive multiple deliverables concurrently.* Ability to gain consensus and agreement across disparate functions, products and geographies.* Must have ability to stay ahead in a constantly changing environment. Must be a change agent, ensuring others understand current direction.* Background in CCAR and FR Y-14 reporting is preferred. Also, background in recovery and resolution planning is preferred.* An undergraduate degree is required. A MBA, CPA or CFA is preferred.