Citi Group Operational Risk Officer - US Retail Bank Mortgage 

United States, Texas, Houston 

391542883

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POSITION OBJECTIVE

Reporting to the 2nd Line Independent Senior Operational Risk Officer who has responsibility for oversight of US Personal Banking and Mortgage coverage, this position works closely with 1st Line of Defense including, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Compliance, Legal) in carrying out job responsibilities.

The scope of this role is confined to US Retail Banking and Mortgage with prime interfaces that include but are not limited to:

• Consumer Operational Risk coverage (Independent Senior Operational Risk Managers and their respective teams who cover other Products in US – e.g., Cards, Operations, etc.)
• Risk Category Owners (RCO) from other Citi level ORM functions such as Third Party, Fraud, Technology & Data Management, etc.
• Independent Credit Risk and Compliance Risk Management
• In-Business Risk and Control partners

Oversight & Challenge

• Foster strong working relationships with business stakeholders in support of establishing rapport and being viewed as a trusted risk resource/ advisor while maintaining and protecting the integrity of an independent, second line of defense coverage model.
• Keepabreast of latest operational risk management techniques, industry best practices and trends using an anticipatory lens.
• Lead the creation and development of risk and control related presentation materials for various governance forums (at many levels of the organization, including Internal Audit and External Regulators)
• Ensure business adherence to operational risk policies, standards, and procedures.
• Understand key or material risks which align with US Retail Bank and Mortgage Product to ensure that the Business is operating within Risk Appetite by leveraging resources and tools to draw accurate and sound conclusions for escalation to business.
• Escalate operational risk events within the Business and within ORM as appropriate with thoughtful approach and insights based on use of data.

The Operational Risk Officer leverages all the core tools that are part of the ORM framework viz., the Material Risk Inventory (MRI), Key Risk Indicators monitoring process, Scenario Analysis, Manager’s Control Assessment Challenge (RCSA), Internal and External Loss Analysis as well as Independent Risk Reviews to provide effective oversight and challenge of first line of defense. Risk identification, analysis and assessment of current and emerging issues may also require working with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product. Specifically, the role will require the Risk Officer to:

• Proactively analyze various data sources to form an independent assessment/opinion of operational risk with prompt and effective escalation to business leadership.
• Assess and monitor external Third-Party suppliers risk taking – including those which provide technology solutions.
• Identify emerging operational risks by relying on monitoring of trends and mining of relevant metrics including business self-assessment, Internal Audit reviews, Regulatory exams, internal and external loss data.
• Continuously assess, monitor, and effectively challenge US Retail Bank and Mortgage Key Operational Risks and related Key Indicators to ensure the Business is taking appropriate action to establish Path to Green or effective remediation where control failures are a driver.
• Support Operational Risk Reviews as well as Risk and Control framework assessments to proactively identify significant risks in the Business and develop specific recommendations for the Business to action.
• Monitor and identify changes in business strategy or relevant regulations that may lead to an increase in Operational Risk
• Analyze horizontal Lessons Learned reports completed by the business to ensure that evidence of risk mitigation is evident where action is required.
• Support broader US Personal Banking Scenario Analysis assessment efforts where there are active and open scenarios within the coverage remit which require monitoring.

• Challenge business proposed solutions to root causes of Operational Risk Events or control failures.
• Assess business changes where improvements are required to strengthen risk identification tools.
• Work as an independent partner to ensure that the business controls mitigate risk and propose improvements to controls and/or monitoring proactively to prevent operational losses.
• Challenge business level Issues and Corrective Action Plans to ensure adequate severity level setting, reasonable target dates and effective corrective action plans.

Qualifications:

• Bachelor’s Degree in Business, Finance, or another relevant field preferred

• Work experience of 7+ years in the financial services industry with deep knowledge of Retail Banking or Mortgage products and prior experience in Operational Risk Management
• Well versed in breaking down complex issues and challenging root causes that can be more readily addressed and effectively remediated.
• Foundational knowledge of business self-assessment processes (RCSA/MCA) viz. bottoms up risk assessment program experience.

• Independent thought leader with ability to effectively identify key operational risks which are most impactful to US Retail Banking and Mortgage business with an anticipatory approach.
• Ability to lead credible challenge and effectively influence and convince business to improve Controls where gaps are identified.
• Effective partner with demonstrated ability to work collaboratively across different teams, functions, and Lines of Defense.

• Exceptional organizational, communication and presentation skills
• Proficient in MS Office applications necessary for executing on job responsibilities – especially PowerPoint and Excel
• Excellent data / quantitative analysis skills
• Superior writing skills in support of high-quality risk summaries which inform presentations that feed into Operational Risk Reviews, Regulatory updates, or Governance forums.
• Demonstrated ability to prioritize, drive and manage multiple initiatives in parallel with compressed time limits.

Anticipated Posting Close Date:

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