VP, Asset Sales Recovery Risk Strategist

5 - 7 years experience  •  Financial Services

Salary depends on experience
Posted on 10/19/17
Wilmington, DE
5 - 7 years experience
Financial Services
Salary depends on experience
Posted on 10/19/17

Description

About Citi
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 Proposition explains what we do and Citi Leadership Standards explain 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.
Description
The Collections and Recovery Risk Team’s mission is to help customers bring their accounts current or fairly resolve their debt. The Collections and Recovery Risk team owns strategy and policy and partners closely with the Operations and Technology teams on implementation and execution.
Position objective:
• Asset sales (charged-off debt sales) are a major driver of Credit Risk Actions and a key component of Citi’s bottom line. The Branded Cards Collections and Recovery Risk team is seeking a candidate to develop asset sales strategy that maximizes revenue while balancing credit risk, policy and regulatory considerations.
Development value:
• You will have the opportunity to influence and shape strategy; develop and implement transformative analytics to drive the company’s long term success in credit risk management. You will have opportunities to collaborate and communicate independently with senior leaders.
Core Responsibilities:
• Develop valuation based short and long term asset sales strategy by analyzing available inventory and sizing opportunity in the context of broader Loss Mitigation strategies. Includes collaborating with Operations, MIS and other data / financial support teams to review, assess and validate financial assessments (e.g. NPV calculator and scenario forecasts).
• Partner with broader Recovery Strategy team to develop advanced analytical frameworks to optimize mix between asset sales and other strategies such as agency placements and litigation.
• Partner with MIS / Reporting and Operations to streamline dashboards to answer most commonly asked questions.
• Partner with forecasting team on quarterly sale planning and estimation, outlook tracking and variance analysis.
• Provide analytical support during regulatory exams, internal audits and compliance/policy reviews.
• Review specific asset sales transactions including sale criteria, sale price trends, NPV assessment, etc. and collaborate with Branded Cards Risk management team to develop sale approval recommendations.
• Provide strategy/risk oversight for sale process execution owned by Recovery Operations; e.g. sale scrub analytics, recall volume, control group performance monitoring, etc. to ensure analytical rigor and robust execution monitoring.
Keys to success:
• Own advanced analytical frameworks (e.g. account flow analytics) and partner with MIS / management reporting team to define and implement enhancements.
• Balance purely quantitative analysis with business priorities, industry trends, risk, local / global policy and regulatory considerations (e.g. state regulations including statute of limitations).

Qualifications

• Undergraduate degree in Statistics, Economics, Engineering, Finance, Mathematics, or related quantitative field.
• Minimum of 5 years analytic experience using quantitative analysis, preferably in a risk management context, coupled with strong financial acumen.
• Experience with SQL programming (preferably in a Unix environment), SAS experience preferred.
• Credit card experience preferred, but not required.
• Collections / Recoveries / Asset sales experience highly desirable.
• Strong interpersonal, influencing and written/verbal communication skills + ability to synthesize information and prioritize actions.
• Ability to independently lead strategy and analytical projects from idea to implementation to post-implementation validation and performance monitoring.
• Ability to establish cross-functional partnerships (especially with Operations, Finance and Loss Forecasting) to drive implementation of Asset sales strategy.

  • Job ID: 17067273

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