Job Background/context:

Climate risk has recently emerged as a top priority risk for the banking sector.

The team has been established within Independent Risk Management charged with building out second line Climate Risk management capabilities, in terms of risk identification, measurement and integrating these into governance and existing risk processes. Scenario analysis and stress testing represents a key pillar of the team’s core mandate.

This role will support required enhancements to existing risk scenario design and expansion capabilities in line with emerging industry practices and regulatory expectations.

Key Responsibilities:

Support the development of scenario design and expansion approaches including:

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  Following and analyzing climate developments in key developed and emerging market economies, assessing vulnerabilities, and making economic forecasts.

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  Conducting research to identify causal drivers and to support scenario design methodological approaches

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  Analyzing climate scenarios and suggesting different potential forward looking paths using either judgement or models

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  Engaging in model development efforts to build best-in-class models to translate climate variables into macroeconomic and microeconomic variables

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  Interpreting scenario variable pathways and ensuring variable projections are consistent with scenario assumptions, model assumptions and statistical and econometric foundation assumptions

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  Ensure methodological consistency and coherency across scenarios developed and used across the organization (both businesses and regions)

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  Support the communication of scenario narratives, key underlying assumptions, and climate drivers to internal stress testing delivery teams and presentations in senior governance forums

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Development Value:

This role provides a unique opportunity to be part of building Citi’s capabilities in an exciting and rapidly evolving area.

It would provide visibility, be cross-functional in nature and provide exposure to different businesses, products and risk types. The position involves a significant amount of interaction with senior management and subject matter experts.

Knowledge/Experience:

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  Experience with scenario expansion and/or econometric modeling for scenario analysis and stress testing purposes; Experience as a model developer preferable

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  Solid understanding of NGFS, IPCC, and IEA scenarios and translation of climate risks into financial system impacts

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  Familiarity with industry leading climate risk models and physical risk data providers, with fluency in the scope, capabilities, and limitations of each tool and platform

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  Strong familiarity with the increasing regulatory expectations facing banks with respect to climate risk

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  Experience in dealing with change projects and/or building / delivering new capabilities

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  A proven track record of liaising across diverse stakeholder groups; including senior managers, and large firm networks

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Qualifications:

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• Postgraduate degree in economics, statistics, finance, or other quantitative discipline preferred
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Skills:

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  Strong organizational skills and the ability to multi-task effectively in a high-volume and complex environment with changing priorities with a practical solutions-driven approach

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  Econometric model development and testing expertise, particularly in a financial services / banking industry usage context

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  Excellent written and oral communications skills, with a commanding and convincing delivery and the ability to synthesize complex concepts, translate into ‘user friendly’ language and effectively present in long-form documents or slide format

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  Excellent stakeholder management skills, with the ability to understand drivers and overcome barriers.

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  Will be conversant in the organizational skills demanded in order to operate in a large global company

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  Strong quantitative skills and strong attention to detail

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Competencies:

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  Self-starter, ability to quickly assimilate and analyze large amounts of information across a variety of topics

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  Proven ability to partner and collaborate across an organization, excellent influencing, facilitation, and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organization

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  Strong tenacity and resilient under pressure and self-motivated in a fast paced and demanding environment

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  Highly engaged, strong attention to detail, and outcome oriented

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  The role demands a strong work ethic, willingness to ‘roll up sleeves’, with a tireless work ethic

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  Strong analytical problem solving and the person should have a high level of integrity to deal with highly confidential data

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This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Job Family Group:

Risk Management

Job Family:

Regulatory Risk

Time Type:

Full time

Primary Location:

New York New York United States

Primary Location Full Time Salary Range:

$176,720.00 - $265,080.00

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.

Anticipated Posting Close Date:

Dec 09, 2024

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Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.