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