Portfolio Credit Risk Management 2nd Line of Defense Lead Analyst

Portfolio Credit Risk Management 2nd Line of Defense Lead Analyst

Job Req :  |

Location:

Warsaw, Mazovia, Poland | Job Type: Hybrid | Posted:
May 21, 2026

The Portfolio Management Group (PMG) is an independent risk management function within Citi's Banking and International Risk (BIR) division. Our group is responsible for establishing and monitoring wholesale risk ratings, credit limits, reserve forecasting, and stress testing.

Within PMG, the Risk Rating team defines and oversees our wholesale risk rating methodologies and the underlying models. A key part of their role is to facilitate the review and challenge of the model lifecycle across the first and second lines of defense, ensuring alignment with our credit expertise and regulatory expectations.

We are looking for an individual to support the Model Sponsor function within the PMG Risk Ratings team, acting as a Model Sponsor Delegate for a designated portfolio of risk rating models. In this position, you will serve as the primary operational point of contact between Model Sponsors, Model Developers, Model Risk Management (MRM), portfolio subject matter experts, and other stakeholders.

You'll be involved throughout every phase of a model’s lifecycle—from initial identification and development, through validation, to ongoing monitoring and retirement.

To succeed in this role, you'll need to develop a thorough understanding of Citi's MRM framework and the specific risk rating methodologies underpinning the BIR PMG model portfolio. The position requires a blend of credit risk expertise, analytical and statistical capabilities, and strong organizational and communication skills to effectively manage a variety of recurring and ad‑hoc model governance obligations on behalf of the Model Sponsors.

• Model Sponsor Delegate Activities & MRM Lifecycle Support
  • Serve as the first‑layer reviewer across all model lifecycle stages for the portfolio of Risk Rating models, including: reviewing and summarizing findings from Model Development Documentation (MDD), assessing model performance outcomes, reasonableness of model assumptions and limitations reflected in ongoing performance assessments and model change documentation.
  • Support timely remediation of model limitations by conducting root cause analysis, engaging in design and documentation of overlay methodologies and their implementation.
  • Ensure Model Sponsor adherence to the model control and governance frameworks, such as semi‑annual model inventory reviews, new model identification attestations, managing policy dispensations, and model decommissioning.
  • Frame recommendations for Model Sponsor action and sign‑off decisions, promptly responding to mandated model deadlines and preventing policy breaches.
• Analysis & Independent Review
  • Support centralized model governance analytics, including benchmarking and root cause analysis, formulating independent views on risk rating models performance.
  • Conduct model and portfolio‑level risk analysis on rating distributions, use of qualitative adjustments and its taxonomy, along with downstream impacts of rating changes on stress testing, reserves, etc.
  • Review annual and multi‑year model enhancement plans, providing assessments to aid Model Sponsors and Senior Management decisions.
• Stakeholder Management & Communication
  • Closely partner with Model Sponsors, Model Developers, Model Risk Management and Model Users across first and second lines of business in addressing the governance activities concerning Wholesale Risk Rating models and methodologies.
  • Liaise with Model Developers and Product / Technology Development teams to ensure proper implementation of model methodology—including inputs, outputs, qualitative components, and model adjustments along with UAT activities.
  • Collaborate with various internal stakeholders and regulators to address model‑related inquiries, reviews and audits.

• 5+ years of experience in the financial industry, with predominant exposure to credit risk, model risk management, or wholesale banking functions.
• Must have 3+ years of direct experience in model risk review and…