The Risk & Control Lead for the Regulatory & Risk Mitigation and Execution team supporting Services, Markets, Banking & International and Client (SM&IC) Core Operations is part of the broader Risk & Control Function within the COO Organization.This role will work in close partnership with other SMB&IC Operations and Controls areas to assess the risk profile and develop a robust risk and reporting framework that pro-actively identifies and mitigates current state and emerging risks. The role is also expected to bring thought leadership to the business and be an integral part of the R&C team and work in close partnership with Citi's Regulatory Engagement team on regulatory matters for SMB&IC Operations.The individual must have an in-depth understanding of Operational Risk management and a good understanding of the financial industry. The role requires thorough understanding of the strategic direction of the functions, combined with a solid conceptual/practical grounding in both the functions and/or area of expertise and related subject areas.Excellent communication and diplomacy skills are a must in order to guide, influence and convince others, in particular colleagues in other areas, and articulate issues, action plans, etc., often at a senior level. Also responsible for leading the compilation of materials for monthly SMB&IC Operations Risk and Controls meetings and quarterly regulatory ongoing supervision meetings for the head of SMB&IC Operations.Responsibilities:
Lead aggregation of Operational Risk information and metrics horizontally across SMB&IC Ops and work with Management on governance and the facilitation of the execution of the Manager Control Assessment (MCA, i.eRisk & Control Self-Assessment) as required by the MCA Standard including the assessment and appropriate approval of risk associated with business changes.
Accountable for the quality, completeness, and accuracy of the implementation of the Control Framework, including Risk Control Policy, Control Standard, Issue Management Policy, Lesson Learned Policy and Control Inventory.
Ensure the identification of issue root cause, partnering with control and process owners to recommend holistic corrective actions and improvements, provide check and challenge to ensure appropriate escalation in according with Issue Management and Escalation Policies.
Direct teams in the implementation of the Lessons Learned Policy, including monitoring of control breaches and dissemination and learnings across other business units for process improvement to limit the occurrence of similar future events and where similar risk exposure might exist.
Support management in the review and challenge process, within the FLUs, on the effective design and management of controls to mitigate risks as required by the Control Standards, including implementation and operation, conducting the control monitoring, handling deficiencies, and escalating issues for resolution.
With management, direct teams on the timeliness, accuracy and completeness of the MCA through controls prior to the execution of a process (QC).
Assess, with management, the adherence to the MCA Standard through controls after the execution of a process (QA).
Assist management in exercising control over Operational and Compliance Risk in accordance with established Policy requirements.
Help management allocate resource to identify, assess, escalate, and manage risk exposures across Risk Categories (Operational Compliance, Strategic, Reputational, etc), including material, emerging and concentration risks in accordance with enterprise Policies and the establishment of Key Indicators to monitor risk exposures.
Assess, with management, Risk Appetite and monitor / assess exposures against this in accordance with enterprise requirements (if applicable).
Take ownership to identify, assess, record and response to Operational and Compliance Risk events, ensuring these are captured accurately, timely and in accordance with requirements.
Responsible that adequate governance and training are in place to support management of Risk profiles.
Assess, with management, the risks associated with New Activities and changes to the Business, ensuring these are well understood and adequately controlled (if applicable).
Support management on operational risk scenario analysis and stress testing for Operational Risk Capital requirements.
Be responsible of risk and control assessments or coordination for programs within various risk stripes and ensure sufficient subject matter expertise exists to enable management of these risks within the Business (e.g. third party, fraud, sanctions etc) (if applicable).
Take ownership to ensure that risk and control responsibilities and accountabilities are embedded within FLUs, including providing training and leading by example.
Assist management in guiding and influencing standards and procedures that conform to enterprise requirements and support sound operational and compliance risk management.
Apply knowledge of the business, products or services to identify and implement control points and processes throughout the business.
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Qualifications:
10+ years of experience in Risk & Controls, preferably in financial services
Experience managing large projects in complex operational environments.
Ability to work effectively in a cross-functional organization. Ability to balance strategic priorities with tactical actions. Proven track record and accountability in making quick decisions that have an immediate impact on business financials.
Demonstrated understanding of business procedures, financial services, control and regulatory industry knowledge.
Excellent communication skills required in order to facilitate reviews with senior stakeholders and control partners.
Effective organizational influencing skills required.
Excellent problem-solving skills, ability to see the big pictures with high attention to critical details.
Demonstrated ability to develop and implement strategy and process improvement initiatives.
Education:Bachelor's/University degree, Master's degree preferred.Job Family Group:Risk ManagementJob Family:Business Risk & ControlTime Type:Full timePrimary Location:Tampa Florida United StatesPrimary Location Full Time Salary Range:$130,880.00 - $196,320.00In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.Anticipated Posting Close Date:Jan 07, 2025Citi is an equal opportunity and affirmative action employer.Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm) .View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf) .View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeoaapolicy.pdf) .View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp%20EnglishformattedESQA508c.pdf)Citi is an equal opportunity and affirmative action employer.Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
