Citigroup provides financings on a global basis to investment grade and non-investment grade corporate clients for Leveraged Lending - Traditional Leveraged Finance, High Grade, Other Non-Investment Grade, Asset Based Lending (ABL), and Energy Reserve Based Lending (ERBL) clients that come under the expanded regulatory definition of 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, asset-based loans, and energy reserve-based loans. Transactions also include funding of operations, capital expenditure financings, and refinancings. For selected clients, the credit product set is augmented with foreign exchange, derivatives and cash management.
The EMEA Leveraged Finance Portfolio Manager works closely with Leveraged Portfolio Group (LPG), 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 High Grade and other Non-Investment Grade clients. The lead demonstrates responsible behaviour by both tone and actions in daily management. The position reports directly to the Global Head of Leveraged Finance and Structured Credit.
Act as Senior approver for the Leveraged Finance Core transactions in EMEA
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 to make decisions on large underwiring and hold risk.
Manage the EMEA leveraged loan and high yield portfolio with focus on timely syndication of underwritten positions, performance of hold book and hedging of outsized/underperforming assets.
Lead discussions with senior management on strategic and exposure management decisions.
Work globally with partners in BCMA and LPG, which is part of Institutional Credit Management (In-Business Risk)
Make recommendations, on transactions above specified amounts, to senior management regarding credit approvals and declines
Assess financings with respect to earning threshold returns on capital
Handle requests for ancillary facilities such as derivatives, cash management, and international lines
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 LPG on portfolio management and reporting
Manage regulatory interactions, communicate regulatory updates to internal constituencies
Provide updates to EMEA management committees
Provide support for stress tests, CCAR, and other internal processes
Develop skills of junior staff across the organization though training and transactions
Unquestioned ethics and excellent credit judgment on non-investment grade credits
Understanding of heightened regulatory expectations of an institution such as Citi
Solid 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
Decisive leadership for developing solutions for client requests
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
Outstanding conflict management skills
Superior verbal and written communication skills
Well-developed time management skills for a high volume of transactions, often with short timetables
Ability to handle escalated discussions
Constructive approach to regulatory interactions and adherence to regulatory guidance
High sense of equanimity relative to competing pressures
Current SCO 2 (or external equivalent) approval authority
Significant 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
Bachelor's degree required, preferably in business, finance or related field. Master's degree preferred.
Excellent oral and written communications skills; must be articulate and provide direction with judgement and authority to enable effective validation with senior stakeholders.
Capable of prioritizing and multi-tasking in a dynamic, fast paced environment.
Candidates applying for this role must be aware that it is a Certified Role, subject to the FCA and PRA Certification Regime. The Certification Regime is one element of the Individual Accountability Regime which came into effect on 7 March 2016. Under the Certification Regime, Citi UK regulated entities (Citi entities) must ensure that employees working in certain roles categorised as specified significant harm functions (Certified Roles) are assessed as fit and proper to carry out their role. Under the guidance provided by the FCA and PRA, firms should have regard to the following when assessing fitness and propriety:
Honesty, integrity and reputation
Competence and capability
In order to comply with the requirements of the Certification Regime, Citi entities must take reasonable care to ensure that an employee does not perform a Certified Role without first being certified as Fit and Proper. For this reason, you will be assessed for this role against the Fit and Proper requirements, as described above. This assessment will be carried out through extensive interviews, self-disclosures, permitted criminal record checks, regulated reference checks, credit checks and other background screening checks.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
------------------------------------------------- Job Family Group: Risk Management ------------------------------------------------- Job Family: Credit Decisions ------------------------------------------------------ Time Type: Full time ------------------------------------------------------ Citi is an equal opportunity and affirmative action employer.
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