Sovereign Credit Management (SCM) is responsible for establishing a consistent view of country risks and sovereign creditworthiness for Citigroup and for underwriting the firm’s sovereign exposures. It is a new organizational construct that is a part of the firm’s broader transformation efforts to make Citi more competitive and stronger in managing risks. Sitting in the 1st Line of Defense, SCM partners closely with Citi’s Franchise Management (Regional CEOs/Chief Country Officers), Banking and Capital Markets Advisory, Global/Local Markets Treasury, and other credit underwriting teams, to ensure that country/sovereign risk views are appropriately reflected in the management of Citi’s international franchises and full spectrum of sovereign exposures across Citigroup.

SCM is looking for sovereign credit analyst to join the Sovereign Analytics team within SCM.

Responsibilities:

• Develop the fundamental risk view and propose the risk settings on a portfolio of countries/counterparts and ensure that this view is adequately reflected in a wide range of sovereign/country exposures
• Propose the Watchlist designation for countries in partnership with CCOs; establish triggers with relevant stakeholders as appropriate
• Propose internal risk ratings for sovereign, cross-border, and central bank exposures for their portfolio of countries
• Propose classification for governments, working with relevant stakeholders to recommend triggers as appropriate
• Ensure that sovereign assessments in annual reviews/credit memos are accurate, reviewing and guiding any sovereign/public sector analysis prepared by in-business risk teams
• Develop scenarios and macroeconomic/financial assumptions as needed for country-specific stress tests
• Conduct research and analysis on a wide range of topics to develop views on global macro conditions and sovereign credit assessments
• Support the Head of Sovereign Analytics to develop and maintain any relevant models that are used by the Sovereign Analytics team; collaborate with 2nd Line of Defense sponsors of relevant models
• Support the Head of Sovereign Analytics to develop a wide range of frameworks/early-warning indicators for anticipating country crises
• Partner closely with stakeholders across the firm (both in business and risk)
• Proactively participate in the ongoing efforts to develop and improve sovereign credit rating models
• Deepen the team’s connectivity with a wide range of market participants/policymakers
• Adhere to controls and governance around SCM’s processes
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards
• Ensure that SCM’s views are effectively disseminated throughout relevant parts of the firm, particularly with regional and country management: regional CEOs/CROs, Citi Country Officers, and Risk Management Country Officers
• More experienced sovereign analysts would be expected to train and develop less experienced sovereign analysts
• Represent Citi on critical regulatory matters as required; serve as liaison with regulatory examiners/Internal Audit and oversee the implementation of related remediation

Qualifications:

• Sovereign credit analyst/macroeconomist with at least 4+ years of experience gained at top-tier global financial institutions, central banks (Fed, BoE, ECB), rating agencies , or the IMF/World Bank.
• Experience in working with finance ministries and central banks
• Experience with developing frameworks for sovereign credit analysis
• Experience with developing quantitative models for estimating sovereign default probability
• Outstanding communication skills (oral and writing), with the ability to convey complex economic concepts to a wide range of audiences
• Outstanding visual presentation skills with ability to tell an economic story via simple charts/visuals
• Highly motivated, team oriented, organized
• Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
• Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses.
• Comfort navigating complex, highly-matrixed organizations and acting as an agent for positive change with agility and flexibility

Education:

• Master’s degree (or equivalent) in macroeconomics, international finance, or related disciplines from a top-tier institution

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