This Operations Business Risk and Control Officer role is in the Risk Mitigation and Execution team supporting SMB&IC Core Operations and is a part of the broader Risk & Control function within the COO organization covering Operations. This role is responsible for analyzing and reporting on horizontal key control metrics within Operations and reporting trends/emerging risks, as well as supporting the compilation of materials for monthly SMB&IC Operations Risk and Controls meetings.
This role will also work in close partnership with Business Aligned Risk and Controls teams within Services, Markets, and Lending Operations Controls, and with other Risk Management areas to assess the risk profile of processes and develop a reporting framework that pro-actively identifies current state and emerging risks.
The individual must have an in-depth understanding of Operational Risk management and a good understanding of the financial industry. The role requires a thorough understanding of the strategic direction of the function, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas.
Excellent communication and diplomacy skills are a must in order to articulate internal issues, action plans, etc., often at a senior level.
Responsibilities:
- Support aggregation of Operational risk information and metrics horizontally across SMB&IC Ops.
- Analyze and report horizontal key control metrics specific to Issues management, MCA/control effectiveness, audit/exam performance, EUC management, Regulatory Change Management, and Operational Risk events such as near miss/losses.
- Identify and escalate, as warranted, trends across Operations indicative of control inadequacies and/or gaps.
- Coordinate with stakeholders across Operations Controls and SMB&IC Operations in order to compile materials for monthly SMB&IC Operations Risk & Control Forum and quarterly regulatory ongoing supervision meetings.
- Help contribute to governance and the facilitation of the execution of the Manager Control Assessment (MCA, i.e. Risk & Control Self-Assessment) as required by the MCA Standard including the assessment and appropriate approval of risk associated with business changes.
- Support teams in 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.
- Assist in performing a detailed analysis on 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 accordance with Issue Management and Escalation Policies.
- Help contribute to the Lessons Learned Policy, including monitoring of control breaches and dissemination of learnings across other business units for process improvement to limit the occurrence of similar future events and where similar risk exposure might exist.
- Support 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.
- Help contribute to the timeliness, accuracy and completeness of the MCA through controls prior to the execution of a process (QC).
- Assist in the monitoring of the adherence to the MCA Standard through controls after the execution of a process (QA).
- Support in dealing with Operational and Compliance Risk in accordance with established Policy requirements.
- Assist in performing a detailed analysis 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.
- Assist in supporting Risk Appetite and monitor/assess exposures against this in accordance with enterprise requirements (if applicable).
- Be part of the process to identify, assess, record and respond to Operational and Compliance Risk events, ensuring these are captured accurately, timely and in accordance with requirements.
- Help ensure that adequate governance and training are in place to support management of Risk profiles.
- Contribute to the risks associated with New Activities and changes to the Business, ensuring these are well understood and adequately controlled (if applicable).
- Support operational risk scenario analysis and stress testing for Operational Risk Capital requirements.
- Support with 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).
- Coordinate risk and control responsibilities and ensure accountabilities are embedded within FLUs, including providing training and leading by example.
- Support with 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:
- 6-10 years of relevant experience in Risk & Controls, preferably in financial services. Specifically experience in controls execution & monitoring; MCA, Issue Management, risk identification, assessment and reporting.
- Experience managing large projects in complex operational environment.
- Experience preparing presentations in PowerPoint for senior management.
- 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 ability to develop and implement strategy and process improvement initiatives.
- 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, consistently demonstrating clear and concise written and verbal communication skills.
- Effective organizational influencing skills required.
- Excellent problem-solving skills, ability to see the big picture with high attention to critical details.
Education:
- Bachelor's/University degree, Master's degree preferred.
Job Family Group: Risk Management
Job Family: Business Risk & Control
Time Type: Full time
Primary Location: Tampa, Florida, United States
Primary Location Full Time Salary Range: $103,920.00 - $155,880.00
In 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: Oct 23, 2024
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