Citigroup provides financings on a global basis to non-investment grade corporate clients for Leveraged Lending. Citigroup's Banking Capital Markets & Advisory (BCMA) group acts as lead arranger for many of these issuers.
Citi's Leveraged Finance Group in the Capital Markets Origination(CMO) group is focused on serving clients in the financing of acquisitions, mergers, buyouts, recapitalizations, and spinoffs. Citi works with private equity clients that have substantial assets under management, an established investment history, as well as public corporates with significant capital markets wallet. Key products include revolving credit facilities, term loans, bridge facilities, bonds, ABLs, and ERBLs. Transactions also include funding of operations, capital expenditure financing, and refinancing. For selected clients, the credit product set is augmented with foreign exchange, derivatives, and cash management.
The Leveraged Finance Credit Risk Director works closely with the Leveraged Finance Credit Risk Manager and the team, Leveraged Finance Underwriting Group (LFU), CMO, Investment Banking, and Corporate Banking to make approval decisions for underwritings and holds on leveraged lending transactions, refinancings, and amendments.
This role is expected to provide leadership on risk and diligence issues, industry trends, capital structure, exposure management, syndication strategy, terms, and returns. A critical objective is to provide management and guidance such that this high-risk business remains within appropriate risk tolerances. Under the expanded regulatory leveraged lending definition, this function serves to coordinate various firm-wide processes for other Non-Investment Grade clients. The lead demonstrates responsible behavior by both tone and actions in daily management while effectively reviewing and challenging the first line of defense.
Key Responsibilities:
- Manage screening/reviews and approvals for non-investment grade holds and underwritings.
- Evaluate complex deal structures across industries in the context of prevailing capital market conditions.
- Make recommendations on transactions above specified amounts to senior management regarding credit approvals and declines.
- Monitor the leveraged loan and high yield portfolio with focus on timely syndication of underwritten positions, performance, and classification of hold book and hedging of outsized or underperforming assets.
- For the hold book, manage and monitor a portfolio of leveraged finance names. Responsibilities include quarterly and annual reviews, risk rating accuracy, ongoing determination of emerging risks and decisioning or recommending of incremental exposure requests (such as derivatives, cash management, and international lines).
- Participate in discussions with senior management on strategic and exposure management decisions.
- Work globally with partners in BCMA and LFU, which are part of Institutional Credit Management (In-Business Risk).
- Support the Leveraged Finance Portfolio Manager on requests from Senior management, Credit Review/Audit, and regulators.
- Assess financings with respect to earning threshold returns on capital.
- Exercise leadership to address due diligence, capital structure, and syndication issues.
- Protect the firm against franchise and reputation risk.
- Oversee underwriting limit compliance and develop solutions to mitigate potential excesses.
- Coordinate with LFU on portfolio management and reporting.
- Co-manage criticized assets with Special Assets colleagues including valuation analysis, amendment approvals, and monthly credit reviews.
- Participate in regulatory interactions, communicate regulatory updates to internal constituencies as required.
- Provide support for stress tests, CCAR, and other internal processes.
- Develop skills of junior staff across the organization through training and transactions.
Competencies/Knowledge:
- Unquestioned ethics and excellent credit judgment on non-investment grade credits.
- Understanding of heightened regulatory expectations of an institution such as Citi.
- Knowledge of high yield syndication markets.
- Appropriate risk appetite with respect to size of individual underwritings, overall book of deals, leverage levels, and hold positions.
- Commitment to independent views and to be transparent in decision-making.
- Discipline in making appropriate risk-reward decisions.
- Robust collaboration across the firm with a wide range of bankers.
- Ability to manage varied teams that are formed on a deal-by-deal basis.
- Strong influencing and negotiating skills.
- Strong conflict management skills.
- Superior verbal and written communication skills.
- Well-developed time management skills for a high volume of transactions, often with short timetables.
- Constructive approach to regulatory interactions and adherence to regulatory guidance.
- High sense of equanimity relative to competing pressures.
Qualifications:
- Current Senior Credit Officer (or external equivalent) approval authority with at least 10 years of experience in credit and structuring.
- Experience in a complex, matrixed organization focused on credit approval, governance, controls, risk management at a top-tier institution.
- Multiple, successful risk management roles over time spanning a range of products, industries, and geographies.
- Strong knowledge of corporate finance concepts. Leveraged finance experience strongly preferred.
- Bachelor's degree required, preferably in business, finance, or related field. Master's degree preferred.
- Excellent oral and written communications skills.
- Capable of prioritizing and multi-tasking in a dynamic, fast-paced environment.
Job Family Group: Risk Management
Job Family: Credit & Portfolio Risk Management
Time Type: Full time
Primary Location: New York, New York, United States
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.
Anticipated Posting Close Date: Sep 11, 2024
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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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