The Business Risk and Control Sr Officer I is a strategic professional who closely follows latest trends in own field and adapts them for application within own job and the business. Typically, a small number of people within the business that provide the same level of expertise. Excellent communication skills required in order to negotiate internally, often at a senior level. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Accountable for significant direct business results or authoritative advice regarding the operations of the business. Necessitates a degree of responsibility over technical strategy. Primarily affects a sub-function. Responsible for handling staff management issues, including resource management and allocation of work within the team/project
Responsibilities:
- Work with Management on 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.
- 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 behaviour, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Qualifications:
- 13+ years of experience
- Familiarity with 3rd party risk models.
- Consistently demonstrates clear and concise written and verbal communication skills
- SQL, Perl or Python, Matlab or R, Excel VBA. Database administrator experience is a plus.
Education:
Bachelor's/University degree, Master's degree preferred.
The Chief Operating Office (COO) Chief Administrative Office (COO CAO) is a driving factor in delivering value to our organization, our businesses, regulators, and stakeholders. With responsibility for Risk and Control, Quality Assurance, Transformation, Regulatory Standards and Communication. COO CAO enables the organization to execute on Citi’s Vision and Strategy.
The COO Quality Assurance (QA) is a newly created team in COO CAO function and is responsible to provide strong oversight, facilitate reviews and support Citi’s effective management of operational and technology risks. This is a senior role reporting to the Global Head of COO Quality Assurance based in London, UK. This role is responsible for reviewing and evaluating internal strategies, processes, procedures, monitoring activities and programs to ensure consistency in delivery of risk remediation activities across COO.
Key Responsibilities:
- Design and lead COO QA reviews to provide independent assurance on the design and operating effectiveness of an area, at a global or regional level.
- Implement common standards, procedures, and governance processes to create and maintain consistent and best in class QA protocols.
- Review the identified issues, gain agreement on planned actions and provide strategic remediation paths for key issues.
- Support COO QA Senior Management in fostering a strong partnership across CAOs, Global Business Risk and Controls, 2nd, and 3rd line functions to drive accountability to deliver on remediation activities.
- Implement future state strategies over 1st Line of Defense Quality Assurance, Control and Monitoring activities.
- Support COO QA Senior Management to implement escalation criteria and practices to ensure issues and risks are escalated timely and reporting to senior management occurs appropriately, consistently and at the right levels.
- Support and endorse the Quality Assurance function, and drive issue resolution for issues identified by QA, improving processes and coverage.
- Implement strong monitoring routines across COO to ensure consistency and compliance with risk and control requirements.
- Implement quality assurance and control processes across COO including:
- Issue lifecycle management
- Issue remediation quality assurance reviews
- Adverse issue reviews
- Thematic analysis of high severity issues
- Path to Green monitoring over remedial activities
- MCA quality assurance reviews
- Be proactive and self-motivated in driving quality and timely reviews/assessments end-to-end.
- Contribute to continued improvement in COO QA methodology/procedures and coverage through the delivery of QA products.
- Assist COO QA Lead on day-to-day basis with ad-hoc projects, review of COO QA internal and external deliverables.
- This is a global role and involves interaction with stakeholders across APAC/EMEA and NAM. Work timings accordingly will remain flexible.
Qualifications:
- 13+ years of experience in risk and control, supervision, quality assurance / control and monitoring processes.
- Specific subject matter expertise regarding risk and control disciplines within Operations and Technology processes
- Demonstrated success in business, functional and people management
- Meaningful knowledge of the risk management framework, including risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance.
- Experience working horizontally across an organization and participating in enterprise-wide implementations of major policy and relevant risk programs.
- Experience in risk and control (including regulatory) remediation activities.
- Broad understanding of relevant banking regulation and supervisory expectations for large complex financial institutions
- Well-developed listening skills and a strong ability to engage at the executive management level by providing proactive support and advice on a variety of risk matters.
- Superior oral and written communication skills, and in particular ability to assess and contribute to the content of key risk and control reporting.
- Strong ability to engage at the senior management level and demonstrated communication experience at different levels of organization
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Job Family Group:
Risk Management
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Job Family:
Business Risk & Control
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Time Type:
Full time
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