Head of Capital Planning and Management Lead

Citigroup is seeking a highly skilled Head of Capital Planning and Management to lead the development and implementation of enterprise-wide capital planning and management processes. This strategic role is responsible for managing the group's capital planning and management processes, as well as its legal entities.

This important leadership position plays a key member role in the enterprise's Strategic Planning capability. As part of this process, the Head of Capital Management will manage the enterprise's Capital Stress Testing processes, working together with the Enterprise Risk function to design scenarios including macro-economic variables and paths which are critical to understanding the organization's exposures, risks and the inherent strengths and weaknesses of the global business model, which inform the Strategic Plan.

The role is fundamental to ensuring the safety & soundness of Citigroup and the financial system in the US and globally. Therefore, it also plays a key leadership role in the enterprise's Recovery & Resolution Planning. All enterprise decisions material generating a return, affecting risk appetite and risk levels, maintaining Capital levels are within the remit of this leader's role at Citigroup.

The Head of Capital Management role reports directly to the Treasurer of Citigroup, leads Citigroup's Capital Committee, participates in the firm's Enterprise Stress Testing Governance Committee and related Enterprise Forecasting Governance Committee.

This leader presents regularly to the Board of Citigroup, leading topics at the Board Risk Management Committee on a regular basis and presenting at key points in the year to the full Board of Citigroup.

The Head of Capital Management directly manages a team of more than 150 specialist professionals. These professionals fulfill different functions: Capital Forecasting, Capital Risk Analytics, Capital Policy, Governance and Controls, and entity and group Capital Management.

As a part of the direct responsibilities above, the Head of Capital Management has oversight responsibility for finance professionals and executives across the businesses and functions; staff responsible for any part of the Strategic planning, Financial forecasting, Capital Planning, and current Capital position calculation & reporting processes.

The role requires a broad and comprehensive understanding of the different systems and practices relevant to the function as well as practical experience of multiple business cycles. In-depth knowledge of the industry and direct competitors' products/services is also necessary to contribute to the commercial objectives of the business.

The individual should have the ability to gain a thorough understanding of the strategic direction of the function, businesses, and the enterprise. To exercise the influence and have the impact required, the Head of Capital Management is required to have excellent communication, and presentation skills in front of big audiences, and very senior audiences, including the Board of Citigroup and, importantly, its most senior Regulators.

The role requires frequent presentations at the firm's most senior committees including Board committees and the full board, and which comprise the CEO and the leadership team of Citigroup, as well as frequent updates for Regulators and responses to the same on topics of interest to them as they ensure the safety & soundness of Citigroup.

The individual in this role is required to influence a wide range of audiences and partner with a broad spectrum of stakeholders. The Head of Capital Management will be involved in both internal and external negotiations which have a major impact on the both the area managed, and on other areas of Citigroup and the organization as a whole.

The holder of the Head of Capital Management role will provide input into strategic decisions affecting the Capital Management function, including management of budgets and planning for the locations of staff. The Head of Capital Management will also have authority to negotiate and make independent decisions on issues/activities that have critical impact or influence on company revenues, capital or business operations, with oversight from the relevant policy, governance and control bodies.

Key Responsibilities:

1. Capital Planning: Manage the design and execution of Citigroup and Citibank N.A. (CBNA)'s planning process for RWA and capital actions (e.g., dividends and buybacks), including through the Determination of capital targets (e.g., Target CET1 ratios) including calibration of components such as Stress Loss Risk Appetite and Management Buffers Forecasting of Risk Weighted Assets (for Advanced and Standardized Approaches), capital levels and associated capital ratios.

2. Capital Management: Determine and execute actions impacting RWA and/or buybacks/dividends to ensure Citigroup and CBNA meet all required capital targets, including Establishing RWA and GSIB capacities and guidelines consistent with required capital targets, Monitoring business- and firm-level adherence to such capacities/guidelines through appropriate governance forums, Identifying need for changes to such capacities/guidelines due to changes in market/competitive/other factors, Recommending and gaining approval for any such changes through appropriate governance forums, Ensuring compliance with such targets for month and quarter end periods.

3. Stress Testing: Manage design and execution the ICAAP and Quarterly Multi-Quarter, Multi-Scenario Forecasting (QMMF) process, including Determination of scenario objectives and design, Design and development of CCAR/QMMF models and associated infrastructure, process and controls, Execution of forecast calculations including associated review, challenge and governance, Analysis of key risk drivers and determination of implications for balance sheet composition and business and risk management.

Broader Responsibilities:

1. Contributes to the design, roll-out and governance of capital management and the overall CFO Treasury organization globally.

2. Participates in formulating and setting strategic direction for the process, organization and architecture from the perspective of capital planning covering Finance across Citi businesses, products, functions and locations.

3. Full management responsibility for multiple teams of senior professionals through other senior managers, including management of people, budget and planning.

4. Partners with the revenue areas to improve efficiency, effectiveness, productivity and / or control.

5. Frequently involved in a wide range of diverse activities that require strategic vision and analysis.

Qualifications:

1. 15+ years relevant experience; managerial experience and membership in a senior leadership team of an organization or in a core function of a large institution.

2. At a minimum, a Bachelor's degree from a recognized higher education institution.

3. Prefer at least a Bachelor's degree in Finance, Accounting, Business or related field.

4. In-depth knowledge of banking products / systems.

5. Broad and comprehensive knowledge of the different systems, theories and practices relevant to a function as well as practical experience of multiple business cycles.

6. In-depth knowledge of the industry and direct competitors' products/services is also necessary in order to contribute to the commercial objectives of the business.

7. Requires thorough understanding of strategic direction of the function within the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise.

8. Excellent communication skills required in order to influence a wide range of audiences.