The Business Risk and Control Sr Officer manages multiple staff globally for Wealth Operations. In-depth understanding of how own sub-function contributes to achieving the objectives of the function. A good understanding of the industry, direct competitors' products, and services, is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the relevant part of the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses. Full management responsibility for team, including management of people, and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval. May be doing involved or responsible for diverse (cross-discipline) activities. Typically, a direct report to a C16 role and function as an integral member of the functional leadership team within a country/site location, job family, or line of business.

Responsibilities:

• Work with Global Wealth Investments Operations group (including Securities [Corporate Actions, Mutual Funds, Settlement, Income Processing, Security Pricing], Brokerage Operations, Alternative Investments, Capital Markets.)

• 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.

• Assist in directing 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 review and challenge, 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.

• 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 asses’ 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, cyber risk for example.

• Works with colleagues in other areas of Risk Management, Finance, Compliance/Control, and the Businesses to assure appropriate management of Operational Risk processes:

• Facilitates accurate and appropriate reporting of operational risks to senior management and the Board of Directors.

• Promotes the use of risk indicators.

• Supports corporate initiatives, including those related to Operational Risk and the alignment of capital assessments with risk management objectives.

• Drives the strategic direction of Operational Risk Management for the Consumer group, working with colleagues around the globe to:

• Identifies emerging operational risks in the context of the current economic, regulatory, and business environment and assure that measures are being taken to mitigate these risks.

• Analyzes operational risk data (typically losses, metrics, or assessment results) to identify areas of excessive risk and to ensure that mitigation efforts are having the desired effect(s).

• Investigates causes for metrics that are deviating from trends and escalate situations that pose excessive risk(s).

• Identifies root causes of major internal losses and ensure actions are taken to reduce the risk of loss from similar causes.

• Upholds the Operational Risk Policy:

• Provides Operational Risk oversight to assure policy and regulatory compliance.

• Facilitates adherence to specific regulatory requirements for the Consumer franchise, including the International Convergence of Capital Measurement and Capital Standards ('Basel II').

• Interfaces with Regulators on Operational Risk matters.

• 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, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

• Liaise with ICRM and ORM to support aggregation of risks and determination of adequacy of controls and oversight of control gap remediation.

• Liaise with Internal Audit on upcoming exams, alignment on remediation and closure processes.

Qualifications:

• 15+ years relevant experience

• Experienced in Operational Risk. Knowledge of other risk disciplines (market risk, credit risk) a plus.

• Strong knowledge of Investments including Securities, Corporate Actions, Mutual Funds, Settlement, Income Processing, Security Pricing, Brokerage Operations, Alternative Investments, and Capital Markets.

• Demonstrated sound business judgment. Proven track record in risk and control oversight (including significant experience in identifying risks, control issues, implementing corrective actions and best practices). Track record leading Control related projects and programs.

• Demonstrated analytical ability; asks insightful questions, break analytical challenges into workable components and draws meaningful conclusions. Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed.

• Proficient in developing new ideas to mitigate risk and improve current processes.

• Prioritizes high impact potential problems effectively. Consistently reads different situations accurately and takes appropriate action to gain senior colleague/ client commitment. Articulate clearly how risk technology supports unit's business, as well as the issues due to gaps between the current technology and known business requirements. Ability to measure and assess the impact of stress shocks including fat-tailed risks. Well-versed in reviewing the dimensions of franchise risk.

• Proven ability to drive successful outcomes while leading horizontally across a matrix.

• Advanced Leadership skills Operates as a leader, with an understanding and appreciation for diverse backgrounds.

Education:

• Bachelor’s/University degree, master’s degree preferred and managerial experience.

Job Family Group:

Risk Management

Job Family:

Business Risk & Control

Time Type:

Full time

Primary Location:

Fort Lauderdale Florida United States

Primary Location Full Time Salary Range:

$134,960.00 - $202,440.00

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:

Sep 13, 2024

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