Citi Controllers Interview “Killer Deck Flashcards by Agnieszka Wajs

Q

What is the role of Controllers in a bank like Citi?

A

Controllers ensure accuracy of financial reporting, regulatory compliance, governance over reporting processes, and integrity of financial data used for regulatory submissions.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What are the key responsibilities of a Finance Reporting Lead Analyst?

A

Drive preparation, analysis and submission of regulatory reports, ensure data quality, manage regulatory relationships and improve reporting processes.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Why is regulatory reporting critical for global banks like Citi?

A

It ensures compliance with regulatory frameworks, transparency for supervisors and supports financial stability monitoring.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What regulators oversee Citi’s German legal entities?

A

BaFin, Deutsche Bundesbank, the European Central Bank under the Single Supervisory Mechanism and the Single Resolution Board.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is the Single Supervisory Mechanism (SSM)?

A

The ECB-led system supervising significant banks in the Eurozone in cooperation with national regulators.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is the Single Resolution Board (SRB)?

A

The authority responsible for resolution planning and crisis management for banks in the Banking Union.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is the main difference between FINREP and COREP?

A

FINREP reports financial statements under IFRS while COREP reports capital adequacy and risk exposures under CRR.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Why must FINREP reconcile to the General Ledger?

A

Because FINREP is based on IFRS financial statements derived from accounting systems.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

How should FINREP and COREP be reconciled?

A

Through reconciliation between accounting data, capital calculations, exposure data and RWA calculations.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Why is reconciliation between FINREP and COREP important?

A

It ensures consistency between financial reporting and prudential capital calculations.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F01 represent?

A

Statement of financial position (balance sheet).

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F02 represent?

A

Profit and loss statement.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F03 represent?

A

Statement of changes in equity.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F18 report?

A

Non-performing exposures and related credit risk information.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F19 report?

A

Forbearance measures applied to exposures.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F20 report?

A

Collateral and guarantees received.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does FINREP template F21 report?

A

Breakdown of performing and non-performing exposures.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is the key accounting standard used in FINREP?

A

IFRS accounting framework.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What drives impairment reporting in FINREP?

A

IFRS 9 Expected Credit Loss methodology.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is IFRS 9 Stage 1?

A

Performing exposures with 12-month expected credit loss.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is IFRS 9 Stage 2?

A

Exposures with significant increase in credit risk requiring lifetime expected credit loss.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is IFRS 9 Stage 3?

A

Credit impaired exposures classified as non-performing.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What defines a Non-Performing Exposure (NPE)?

A

An exposure that is more than 90 days past due or unlikely to be repaid without collateral realization.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What is Risk Weighted Assets (RWA)?

A

Assets weighted according to risk to determine capital requirements.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Which risks contribute to RWA?

Credit risk, market risk and operational risk.

What is CET1 capital?

Highest quality regulatory capital consisting of common equity and retained earnings.

How is CET1 ratio calculated?

CET1 capital divided by Risk Weighted Assets.

What is Tier 1 capital?

CET1 plus Additional Tier 1 instruments.

What is Tier 2 capital?

Subordinated debt instruments used to absorb losses in resolution.

What is the Total Capital Ratio?

Total regulatory capital divided by Risk Weighted Assets.

What is the leverage ratio?

Tier 1 capital divided by total exposure without risk weighting.

What is COREP template C01?

Own funds breakdown including CET1, AT1 and Tier 2 capital.

What is COREP template C02?

Capital requirements and RWA by risk type.

What is COREP template C07?

Detailed breakdown of RWA by exposure class.

What is COREP template C43?

Leverage ratio exposures and capital.

What is the Capital Conservation Buffer?

A 2.5 percent CET1 buffer above minimum capital requirements.

What is the Countercyclical Capital Buffer?

Capital buffer set by regulators depending on credit cycle conditions.

What is Pillar 2 Requirement (P2R)?

Mandatory additional capital requirement imposed by supervisors.

What is Pillar 2 Guidance (P2G)?

Supervisory expectation for additional capital above minimum regulatory requirements.

What is an O-SII buffer?

Additional capital requirement for systemically important institutions.

What is data lineage in regulatory reporting?

The ability to trace data from source systems to final regulatory reports.

What is a maker-checker control?

A two-step review process where one person prepares and another validates the report.

What are validation rules?

Automated checks ensuring consistency and completeness across regulatory templates.

Why is documentation important in regulatory reporting?

Regulators require clear documentation of processes, controls and data sources.

What is regulatory reporting governance?

Framework ensuring accountability, controls and oversight of regulatory submissions.

What is a service center reporting model?

Centralized team responsible for preparing reporting outputs for multiple jurisdictions.

How would you ensure data quality in regulatory reporting?

Implement reconciliations, validation rules, strong governance and clear ownership of source data.

How would you manage reporting produced by an offshore service center?

Define procedures, perform oversight reviews, maintain communication and ensure quality controls.

How would you handle a regulator query about incorrect data?

Investigate root cause, reconcile data sources, document explanation and respond transparently.

How would you manage a reporting error discovered after submission?

Investigate immediately, inform management, correct the report and strengthen controls.

How would you implement a new regulatory reporting requirement?

Perform impact assessment, update processes, coordinate with IT, test outputs and document changes.

How would you improve regulatory reporting efficiency?

Increase automation, improve data sourcing and strengthen reconciliation frameworks.

How would you ensure collaboration between Finance and Risk teams?

Establish clear data ownership, reconciliation checkpoints and regular communication.

How would you prepare for a regulatory inspection?

Ensure reconciliations, documentation, controls and data lineage are fully documented.

What leadership qualities are required for a VP regulatory reporting role?

Strategic oversight, stakeholder management, regulatory expertise and strong analytical skills.

How would you manage tight reporting deadlines?

Prioritize critical tasks, coordinate across teams and escalate issues early.

Citi regulatory reporting interview concept 57?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 58?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 59?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 60?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 61?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 62?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 63?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 64?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 65?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 66?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 67?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 68?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 69?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 70?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 71?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 72?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 73?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 74?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 75?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 76?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 77?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 78?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 79?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.

Citi regulatory reporting interview concept 80?

Ensure regulatory compliance through strong governance, reconciliations, data validation and collaboration between Finance and Risk teams.