Job Summary:

The Director of Clearing House Risk will play a critical leadership role in Citi's Wholesale Credit Risk framework, specifically focusing on the comprehensive oversight and management of quantitative risks associated with Central Counterparties (CCPs) and other Financial Market Infrastructures (FMIs). This individual will be responsible for developing, implementing, and maintaining a robust quantitative risk analysis framework which will aide to mitigate credit and other risks arising from clearing activities across CCPs globally. A core focus will be on critically reviewing and challenging the margin methodologies deployed by CCPs and providing strategic insights in these and their changes, including for both our markets and prime services. The role requires deep expertise in quantitative aspects of CCP margin methodologies, stress testing, coupled with insight in regulatory requirements and markets trading strategies. Given the global nature of our FMI portfolio, experience comparing various asset classes and CCPs globally is preferred.

Key Responsibilities:

• Risk Strategy & Framework Development:
  • Develop and refine Citi's quantitative CCP risk management framework and align internal risk appetite, while contributing to overall FMI risk strategy.
  • Proactively identify emerging risks trends related to CCPs and broader FMIs.
  • Collaborate with Markets and Prime Services lines of business more generally to develop internal tools and analytics to forecast and explain margin variances
• Margin Methodology Review & Challenge:
  • Conduct in-depth reviews and critical challenge of the margin methodologies (Initial Margin, Variation Margin and Guarantee Fund) applied by CCPs globally.
  • Assess the assumptions, parameters, and calibration of CCP margin models for their appropriateness, robustness, and potential impact on Citi's capital and liquidity.
  • Propose enhancements or alternative approaches to internal stakeholders
  • Engage externally with CCPs and regulators to discuss methodology analysis, its shortfalls and potential remediation
• Risk Oversight & Analysis:
  • Conduct in-depth analysis of CCPs’ default resources, recovery and resolution plans, and its potential impact on Citi.
  • Evaluate CCP rule changes, new products, and services for their quantitative risk implications to Citi.
  • Challenge and validate CCP risk models, stress test methodologies, and margining approaches.
• Regulatory Engagement & Compliance:
  • Act as a primary point of contact for regulatory inquiries and examinations pertaining to quantitative elements of CCP risk.
  • Participate in industry working groups and forums related to CCP risk management and their regulatory developments.
• Stakeholder Management & Advisory:
  • Collaborate closely with Front Office businesses (e.g., Equities, Fixed Income, Derivatives, Prime Services), Operations, Technology, Legal, and other Risk functions to ensure integrated and consistent risk management.
  • Provide expert advice and challenge to senior management on clearing-related risk topics
  • Develop in depth training framework for 1st and 2nd line credit colleagues on the different methodologies applied by CCPs and underlying asset classes
  • Provide guidance, yet also review and challenge margin methodology analysis by credit officers

Qualifications:

• Education: Bachelor's degree required; Master's degree or Ph.D. in Finance, Economics, Quantitative discipline, or related field preferred. Professional certifications (e.g., FRM, CFA) are a plus.
• Experience:
  • 10+ years of experience in financial risk management within a large financial institution, with a significant focus on clearing houses, their quantitative models, and trading activity.
  • Deep and demonstrable understanding of CCP margin methodologies, parameters, and their quantitative implications as well as the regulatory environment in which these operate
  • Experience with various asset classes cleared through CCPs
  • Prior experience working with or providing risk insights to lines of business, clients and regulators is highly advantageous.
• Skills:
  • Exceptional analytical and quantitative skills, with the ability to interpret complex financial data and risk metrics, particularly related to margin methodologies.
  • Strong communication, influencing and presentation skills, with the ability to articulate complex risk concepts to diverse audiences, while also able to manage, train and mentor junior talent.
  • Proficiency in risk management systems and data analysis tools including basic coding and Tableau.

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Job Family Group:

Risk Management

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Job Family:

Portfolio Credit Risk Management

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Time Type:

Full time

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Primary Location:

New York New York United States

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Primary Location Full Time Salary Range:

$170,000.00 - $300,000.00

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.

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Most Relevant Skills

Analytical Thinking, Credible Challenge, Governance, Monitoring and Evaluation, Policy and Procedure, Policy and Regulation, Product Knowledge, Risk Controls and Monitors, Risk Identification and Assessment, Risk Remediation.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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Anticipated Posting Close Date:

Feb 13, 2026

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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

 

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