FMI Risk team’s responsibilities include setting the Membership Risk Rating (MRR) and Obligor Risk Rating (ORR), and preparing loss estimates as well as ongoing reviews on a periodic basis. Assess and provide approval recommendation for new FMI Memberships and Material Changes in existing FMIs.The role primarily involves assessing and managing Citi's membership exposure to FMIs across APAC. FMI Risk also serves as a direct liaison with regulators (for example the OCC, Fed, Bank of England, and HKMA) on FMI risk matters. A key focus forįMI Risk is to assess the impact of ongoing regulatory changes, for example Dodd-Frank, EMIR, MIFID IIĪnd Basel III regulations, particularly in reference to the growing use of Central Counterparty (CCP)Ĭlearing for post-trade processing and counterparty risk mitigation.įMI Risk works with Businesses and Credit teams across the Institutional Credit Management and Global Consumer Group and offers subject matter expertise to internal business and risk partners. FMI Risk establishes risk management parameters and methodologies to assess the risks associated with an FMI membership. Management (TSRM) in the Wholesale Credit Risk (WCR) group, is the responsible second line ofĭefense team for managing risks associated with FMIs globally. Consumer networks (credit card associations and ATM networks)įinancial Market Infrastructures Risk Management (FMIRM), part of Transaction Services Risk.
Energy (Power/Gas) transmission networks.Securities and derivatives clearinghouses.Equities, fixed income, derivatives exchanges.FMIs are external entities Citi relies on for payments, trading, clearing, settlement, and depository services.
Citigroup is a member of over 600 Financial Market Infrastructures (FMIs) in more than 90 countries.
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