Citigroup Looking For A Digital Assets Risk Manager
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Citi Wants To Increase Focus On Digital Assets
The banking giant Citigroup is hiring two digital asset risk managers at director levels. One of the managers should have expertise in decentralized finance, cryptocurrencies, and stablecoins. The other manager will handle digital securities, CBDCs, and enterprise blockchain. As per the job postings, the role of the digital managers will be assembling "a robust, risk-sensitive and unified risk management view and response" to initiatives, pilots, proof of concepts, and strategic partnerships.
Founder and CEO of crypto financial risk modeling tool Gauntlet, Tarun Chitra, said,
"Risk management in decentralized finance is really much more complex than what you see in traditional finance - this is why they [Citi] need a person dedicated to simply understanding and reasoning about it," he added, "However, the roles seem quite non-technical, so I suspect this is more of an investigation into how to support these markets."
DeFi, he said, would be a better option than traditional yields in a crypto market.
Citigroup Stepping Towards Decentralized Finance
The company will be increasing its focus on decentralized finance, which most mainstream banks do not pursue. Besides the digital asset risk manager post, Citigroup has numerous other open positions focused on digital assets.
Hiring for multiple product positions and the head of platforms role within the digital assets division of Citi's Institutional Client Group (ICG) is also open. There are also vacant positions in the treasury trade solutions and the custody technology teams. These job postings will feed the company with fresh talents for the company. Back in November 2021, Citigroup planned to hire up to 100 individuals to grow its ICG digital assets division.