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Private Bank Remedial Management ("PBRM") specializes in the risk management of the Citi Private Bank's classified portfolio. Cases managed by PBRM exhibit a heightened probability of default during varying stages of stress. PBRM works closely with Business and Risk partners to formulate and execute strategies that maximize the value of distressed cases, balancing risk, returns and recovery appropriately.
The PBRM Remedial Officer will be responsible for the day-to-day management of the portfolio within the Private Bank's APAC & EMEA regions. This includes:
For Special Mention names, completion of assessments to determine appropriate classification and agree triggers
For the Classified portfolio, risk management of the classified portfolio including monitoring performance of assigned accounts and forecasting exposures for capital and asset quality purposes
Analyze, formulate and implement strategies geared toward the satisfactory remediation of deteriorated credit situations
Performs initial evaluation of assigned accounts, including business issues, likely loss or recovery, and documentation deficiencies, if any.
Manages account on an ongoing basis until workout is complete and account is resolved via payment (in full or as a compromised settlement), bankruptcy plan is approved, returned to the originating business unit, liquidated, or abandoned.
Coordinates the retention of legal counsel and manages the relationship on an ongoing basis, including directing the parties' involvement in the workout and managing fee expenses.
Negotiate repayment / restructure terms either directly with clients or through legal counsel
Interact with the Business and Risk teams and internal partners including Legal, Governance, Risk Reporting and Compliance in proactively handling deteriorating credit situations
Manage aspects of collateral monitoring, legal documentation, valuation and overall compliance
Conduct liquidation analysis and prepare timely individually assessed reserve recommendations and write-off justifications
Litigation management including foreclosure, DPC sale, liquidation and bankruptcy
Prepare periodic Classified Reports with accurate remedial plans and timely actions
Represents Citi in discussions with internal/external auditors and reviewers on issues relevant to their daily role, e.g., IA, FCR and OCC
Assist in preparing and updating policies, standards and procedures
Assist in designing and leading training sessions on remedial related topics
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Extensive credit analysis skills
Senior Credit Officer (SCO designation) or with expectation to gain designation in short-term
10+ years experience in credit analysis and remedial management
Exceptional ability to communicate views both verbally and in writing
Demonstrate sound understanding of credit issues and is able to establish and process risk mitigation plans from inception to implementation to resolution aimed at maximizing recoveries while minimizing cost of credit build and franchise risk
Sound understanding of credit issues and is able to establish and process risk mitigation plans from inception to implementation to resolution
Proficient in collateral analysis and valuation, including real estate appraisals
Excellent negotiating skills with customers and internal partners
Capable of collecting information from various parties with potential opposing views/agendas in an efficient and detail-oriented manner
Ability to communicate and influence in a cross functional environment in settings that could involve conflicting priorities and timetables
Knowledge of typical risk policies and procedures
Demonstrate experience in applicable national and local regulations, guidelines, and practices
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required. ------------------------------------------------- Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - SG ------------------------------------------------------ Time Type : ------------------------------------------------------ Citi is an equal opportunity and affirmative action employer. Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity. Citigroup Inc. and its subsidiaries ("Citi") invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity CLICK HERE . To view the "EEO is the Law" poster CLICK HERE . To view the EEO is the Law Supplement CLICK HERE . To view the EEO Policy Statement CLICK HERE . To view the Pay Transparency Posting CLICK HERE .