Citi Retail Services Wins Institute of Risk Management's Global Risk Award

London – Citi's private label credit card unit, Citi Retail Services, won the "Risk Management Solution of the Year" award at The Institute of Risk Management's (IRM's) award on Thursday, February 19, in London, England. The 2015 Awards, which recognize innovation, creativity and achievement in risk management, attracted entries from across the Americas, Asia, Africa, Europe and the Middle East. Now in their third year, the Awards are known for their global reach, caliber of entrants and rigorous judging process.

"As the risk profession continues to increase in importance, the sophistication of the entries in the Global Risk Awards continues to rise," said IRM Director Clive Thompson. "Two of Citi's entries became finalists this year, and they exemplified the exceptional projects and teams entered."

Citi won in the "Risk Management Solution of the Year" category for developing a unique multi-product scoring system and comprehensive credit-risk scorecard. This new, more sophisticated scoring system enhanced client and customer satisfaction, through more effective risk-level decisioning, allowing for lower overall risk and higher sales for our partner.

Citi was also a finalist in the "Innovation in Technology" category for its credit scoring model management system. The capabilities of this industry-leading technological innovation exceeded commercially available solutions. The system created more consistent, higher quality tracking than the previously used one, while enabling expanded modeling capabilities and increased efficiencies.

"This recognition will be shared by everyone in our group," said Debra Stabile, Chief Risk Officer for Citi Retail Services. "Their creativity and diligence produces extraordinary results, and I'm thrilled that the teams are being acknowledged by such a respected organization."

IRM's ceremony to celebrate the "world's best risk management talent" and announce the winning entries attracted nearly 400 risk leaders from 20 countries. More than 30 leading risk management figures from 16 countries across five continents judged the final shortlist.

Citi Retail Services provides consumer and commercial credit card products, both private label and co-branded, to national and regional retailers and their customers across the U.S. It also provides its partners fully integrated marketing and loyalty programs, unparalleled data analytics and retail industry expertise. In the last two years, it renewed eight contracts with existing partners and added four new relationships. The business services 88 million accounts for a number of iconic brands, including The Home Depot, Best Buy, ExxonMobil, Macy's, Sears and Shell.