Operational Risk Officer (VP)
Company: Citi
Location: Dundee
Posted on: May 15, 2022
Job Description:
Citi's Global ATM & Citishare In-Business Control Unit drives to
Operational Risk and Control issues within the Private Bank Wealth
Management (PBWM) Operations & Fraud Prevention. - In-Business
Control is responsible to foster a collaborative control
environment, end to end. - Maintaining a culture of control,
customer centricity and accountability by leading efforts to
identify, anticipate and mitigate regulatory, reputational, and
operational risks.The PMWM Operations & Fraud Prevention
Operational Risk Officer is accountable for control related matters
with respect to business processes within the Global ATM and
Citishare organization. - Whether supporting transformation related
work or directly interacting with process owners to document end to
end processes and identify control automation opportunities, this
role provides critical support and guidance to ensure effective
execution of all Governance, Risk and Compliance (GRC) related
requirements.This role is also integral to the Global ATM and
Citishare governance routines including the timely execution of
governance and oversight activities and ownership or support
successful issue management disciplines.Responsibilities:
- Partner with business teams to effectively define and document
business process and initiatives to assist in risk assessment and
control identification
- Assess the spectrum of risks and how those risks arise
- Leverage available tools and processes to support process
owners in the design and development of effective controls and
monitoring methods, with a focus on automation and efficiency
- Identify key risk indicators and work with the business on
development. - Effectively challenge to ensure correct measures are
in place
- Ensure there is a strong escalation culture within aligned
operational areas. - Partner with peers across North America and
globally to drive consistent execution and learn from incidents
that did not occur within direct operational area
- Execute Manager's Control Assessment (MCA) requirements as
defined in policy and optimize efforts to drive efficiency and
consistency across North America
- Compile evidence and materials for Quarterly and Annual Risk
Assessment Reviews as required
- Work with Operations teams to ensure adequate preparation for
audits and reviews
- Communicate to all stakeholders (including Senior Management)
on a timely basis in a clear manner
- Identify reputational risk and its operational / financial
cause / effects. - Manage situations that create operational
risk
- Develop and maintain strong working relationships with Business
& Function owners. -
- Build strong relationships across all three lines of
defense
- Escalate appropriately and timely any concerns that could put
timeliness and completeness of deliverables at risk
- Understand and articulate the unique needs and risks associated
with Global Operations & Fraud PreventionQualifications:
- Prior experience in Consumer Operations, Controls, Compliance
and/or Risk Management
- General understanding of relevant banking regulation and
supervisory expectations for large complex financial
institutions
- Process re-engineering and improvement mind-set with ability to
identify and solve for root cause rather than symptoms; address
problem solving and opportunities in a holistic way/break down
organization silos
- Proactively seek opportunities to enhance and strengthen
infrastructure and controls in a way that: drives value, enables
better services and balances risks
- Continuously seek out opportunities to improve processes; learn
from mistakes
- Constructively challenge others at all levels and across
boundaries to deliver better results; invite challenge
- Work across teams and boundaries, regardless of titles and
roles, to deliver results
- Track record of managing internal relationships and
demonstrated experience in leading sustained change and change
management efforts
- Demonstrated ability to think strategically, analytically, and
creatively problem solve
- Continuous improvement mind-set - assess impact of actions and
adjust as needed; simplify and standardize at every
opportunity
- Partner across the business in a way that demonstrates
collective obligation on managing risk through appropriate
controls
- Fully commit to decisions once made
- Seek out diverse perspectives and skill sets recognizing that
the power of Citi is the sum of its parts
- Strong interpersonal skills, with evidence of working in
collaboration across large organizations, including a proactive and
'no surprises' approach in communicating issues/requests
- Be comfortable communicating reality - both positive and
negative - honestly, openly, and directlyEducation:
- Bachelor's Degree or equivalent work experience
- Technical proficiencies in MS Office, including Word, Excel,
PowerPoint, Visio, video conferencing.
- Strong judgmental and critical thinking skills. Detail
oriented, with proven ability to challenge and identify
opportunities within existing processes and business practices
- Demonstrated relationship management skills with ability to
deepen relationships and build partnerships across business units
and key functional support areas.
- Ability to apply advanced analysis methodologies, interpret and
present findings in a clear, concise mannerThe Operational Risk
Officer is a strategic professional who stays abreast of
developments within own field and contributes to directional
strategy by considering their application in own job and the
business. Recognized technical authority for an area within the
business. Requires basic commercial awareness. There are typically
multiple people within the business that provide the same level of
subject matter expertise. 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. Significant impact on the area through complex
deliverables. Provides advice and counsel related to the technology
or operations of the business. Work impacts an entire area, which
eventually affects the overall performance and effectiveness of the
sub-function/job family.Responsibilities:
- Establishes and oversees the application of operational risk
policies, technology and tools, and governance processes to create
lasting solutions for minimizing losses from failed internal
processes, inadequate controls, and emerging risks.
- Independently assess' risks and drive actions to address the
root causes that persistently lead to operational risk losses by
challenging both historical and proposed practices.
- Governance and oversight may include (not limited to)
technology operational risk, risk for example.
- Serves as a subject matter expert for Issues Management
(KPI/KRI/Corrective Action Plans)
- Resolves transactional level escalations coming from the vendor
or internal partners
- Analyzes a multitude of scorecards/performance management tools
in an attempt to mitigate exposure (risk/financial/regulatory)
- Monitors goals are met through performance, risk and
relationship oversight of our extended supply chain
- Collaborates to resolve any issues which fall within the terms
of the contract.
- Develops and maintains relationships across the business users
and Lines of Defense to better understand and deliver customer
requirements by responding to changes in the internal and external
business environment
- Has the ability to operate with a limited level of direct
supervision.
- Can exercise independence of judgement and autonomy.
- Acts as SME to senior stakeholders and /or other team
members.
- 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 experience navigating and networking across an
enterprise utilizing internal and external resources Third Party
Oversight/Vendor Oversight experience preferred Business writing
experience preferred
- In depth knowledge of Mortgage Servicing Operational processes
and technology platforms supporting the Operations.Education:
- Bachelor's/University degree, Master's degree
preferred-------------------------------------------------Job
Family Group: Risk
Management-------------------------------------------------Job
Family:Operational
Risk------------------------------------------------------Time
Type:Full
time------------------------------------------------------Citi 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 .View the
"" poster. View the .View the .View the
-----------------------------Effective November 1, 2021, Citi
requires that all successful applicants for positions located in
the United States or Puerto Rico be fully vaccinated against
COVID-19 as a condition of employment and provide proof of such
vaccination prior to commencement of employment.
Keywords: Citi, Elgin , Operational Risk Officer (VP), Executive , Dundee, Illinois
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