- Primary Location: United States,Texas,Irving
- Education: Bachelor’s Degree
- Job Function: Finance
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 18010339
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Propositionexplains what we do and Citi Leadership Standardsexplain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
Objective: The Economic Forecasting Team under the Quantitative Risk and Stress Testing(QRS) is responsible for defining the scenarios and projecting the macroeconomic variables related to internal financial planning and the stress-testing required by US regulators (including the Comprehensive Capital Analysis and Review—CCAR). EFT is also responsible for scenario design and forecasting for other major global regulators such as the European Banking Authority, Prudential Regulatory Authority and Hong Kong Monetary Authority, and the IFRS 9 Forward Looking Indicators, and the new FASB’s Current Expected Credit Loss (CECL) Regulatory Project. Additionally, EFT is an integral part of the Quantitative Risk and Stress Testing that serves as an important link between Citi’s quantitative modeling groups, risk appetite, risk limits and capital planning.
The current position in housed in the CECL/IFRS Macro/Finance Modeling Team is responsible for the projection of several thousand macroeconomic and financial variables that are used as inputs into different loss models to project losses of the banks US-GAAP assets. The candidate will be responsible for extracting historical macroeconomic and financial variables from large centralized databases of economic and market variables, manage the database, and ensure consistency and accuracy, ensuring that all governance, control and oversight points are adequately developed, implemented and monitored. These activities are the crucial foundations of the CECL team which would enable them to prepare reasonable and supportable macro/financial forecasts. Economic variables are overwhelmingly macroeconomic, industry and sector variables, whereas capital market variable includes but not limited to treasury rates, various benchmark rates such as LIBOR, Swaps, CDS, VIX, sovereign credit spread, central bank policy and discount rates, equity indices, FX rates, FX volatilities, commodities, and term structure of Corporate Bond spread by ratings grade.
- Work closely with statisticians and macro-econometricians and country risk subject matter experts to identify and address issues and opportunities on-the-ground, and provide a link to global products and functions.
- Superior problem-solving skills, the ability to think creatively and multi-task while maintaining an uncompromising attentiveness to detail and commitment to excellence.
- Strong interpersonal skills and the ability to foster a collaborative environment. Strong database, analytical, and reporting, including the ability to work with large databases and perform statistical analysis by working closely with the seasoned quantitative modelers.
- Proficiency with personal computers, UNIX servers, software packages, advanced spreadsheet and database knowledge strongly preferred.
- Outstanding communication skills (oral, written) with the ability to clearly articulate complex ideas.
- Ability to learn on his/her own in a non-formal training environment. Feel comfortable proposing new methodological approaches and being proactive.
The ideal candidate will have the following attributes/skills:
- Work closely across multiple work-streams and or line of business in performing end to end project delivery activities.
- Business analysis – determining, verifying and documenting business requirements.
- Data analysis – analyzing, validating and documenting model, system feeds and calculated results.
- Identify and communicate key project risks, define mitigation strategies and manage to resolution.
- Track and maintain change request documentation to ensure that all additional requirements are traceable and delivered accordingly to internal clients.
- Ensure overall end to end process meets all compliance, audit, MCA and any relevant governance, oversight and control requirements.
- Previous experience in a role requiring managing/analyzing large data sets and presenting the data visually to senior management is highly desired.
- Proficiency in Microsoft Office applications (Excel, PowerPoint, Word), SharePoint, Bloomberg Terminal.
- Understanding of business line drivers for a large size global financial institution.
- Skilled at articulating methodological issues in a manner that is understandable for non-technical stakeholders.
- Strong interpersonal, organizational, analytical, problem-solving, project management and verbal and written communication skills.
Core Duties and Responsibilities:
- Develop, Execute, Implement and Track macroeconomic and financial forecasts that impacts Citigroup’s global portfolios of line of business.
- Participate in work-streams on Methodology and Policy to define approaches.
- Support Model Development Team during internal and external reviews.
- Support implementation of model results on common risk platform.
- Partner with other work-streams such as Accounting, Retail, Wholesale on Modelling, Scenario forecasting and on any key methodology decisions.
- Maintains Citigroup’s internal control standards, including timely implementation of internal and external audit points, MCA, corrective action plan, internal process flows, technical model development group, together with any issues raised by internal oversight & external agencies.
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