Citi Group Senior Operational Risk Manager – Cards - SVP Hybrid 

United States, Delaware, New Castle 

733516561

This primary focus of this role is oversight of US Cards and Lending business, as well as any other responsibilities assigned by the USPB ORM Business Coverage lead. The role involves oversight of risks associated with Card’s business across end-to-end product delivery lifecycle.

Prime interfaces for this role include:

• USPB Consumer 1st Line of Defense and In-Business Operational Risk and Control organization.
• Other Consumer ORM Business Coverage teams for North America to ensure consistent standards in oversight execution as well as transfer of lessons learnt.

• Consumer ORM Framework and Risk Cycle Management team for expertise in framework requirements, policies and procedures.
• ORM Foundation team who leverage the Business ORM team for expertise and escalation of issues.
• ORM CAO, Governance, Audit and Regulatory Relations team to ensure effective business management and regulatory interactions.
• Franchise Risk Architecture Reporting team to support business risk profiling and reporting.

Governance & Oversight

• Develop strong working relationship with the business within scope to be a valued and respected partner
• Together with the Business coverage lead and colleagues establish an appropriate engagement process with the Business to enable meaningful challenge and oversight and participate in risk management focused forums
• Assist Business Coverage lead / present relevant material as necessary at senior level governance forums such as Business Risk Reviews and Business Risk Compliance and Control Committees as well as for meetings with important stakeholders like the Regulators, 3rd Line of Defense and senior management.
• Ensure business adherence to operational risk policies.
• Execute responsibilities articulated in the ORM Policy for independent operational risk managers including deep dives in to any significant current or emerging risk areas.
• Ensure adherence to Consumer Op Risk procedures for independent Business coverage risk managers and for the Business. Assist in the continuous improvement of these procedures to strengthen 2nd line of defense oversight.
• Understand the linkages, and ensure Business is linking all tools in place for managing the operational risk management cycle and evidencing the feedback loop across MCA, MRI and KI process, Scenario Analysis and Loss Analysis results on a continuous basis.
• Escalate operational risk events within the Business and within ORM as appropriate with relevant context and risk assessment.

Risk Identification, Analysis & Assessment

• The Operational Risk Manager leverages all the core tools that are part of the ORM framework viz., the Material Operational Risk Identification and Key Indicator monitoring process, Scenario Analysis, Manager’s Control Assessment Challenge, Internal and External Loss Analysis as well as Risk Reviews to provide effective oversight. Risk identification, analysis and assessment of current and emerging issues also requires working with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product.
• Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics (including MCA and IA data), loss data and external events. Effectively communicate learnings to Business to drive necessary responses and action.
• Proactively analyze various data sources to form an independent assessment/opinion of operational risk.
• Assist the Business coverage lead in developing and implementing the data mining and conceptual approaches necessary to establish robust leading indicators and metrics to identify areas of potential OR exposure and emerging risk to enhance loss anticipation and mitigation.
• Continuously monitor Material Operational Risks Inventory and related Key Indicators to ensure the Business is taking appropriate action to update them and respond to breaches.
• Participate in and lead Risk Reviews to proactively identify significant potential risks in the Business and develop specific recommendations for the Business to action.
• Identify changes in business strategy or relevant regulations that may lead to an increase in Op Risk
• Analyze losses in the Business to understand how losses were incurred, determine lessons learned, identify root causes and use in developing recommendations for risk mitigation.
• Support and lead challenges of MCA entity ratings quarterly and of Annual Risk Assessments on a risk-based frequency cycle.
• Support Scenario Analysis efforts, and track and oversee Business monitoring of triggers and action plans.

Risk Approvals

• Evaluate MRI/ MOR/KI change proposals from the Business before approval by Business Coverage lead.
• Review ORM Policy / Consumer ORM Exception requests before approval by designated ORM approver.
• Assist in review of transactions proposed to the Personal Banking New Product Approval Committee (PBNAC) as well as any other significant transactions, like the sale or purchase of a Business/Portfolio, outside the PBNAC process. Monitor business fulfilment of ORM specified conditions in PBNAC approval.

Risk Mitigation

• Drive solutions to root causes that potentially can lead to op risk.
• Develop actions or, as appropriate, projects to apply lessons learned and share across relevant geographies/managed segments.
• Work as an independent partner to mitigate risk and improve processes and controls before risks materialize into op losses.
• Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans.

Qualifications

• Bachelor’s / Master’s degree in business, Finance, Accountancy, Law, Science, or other relevant fields.
• Training/Certificationor experience in database/MIS management tools a plus

Knowledge and Experience

• Work experience of 10+ years in the financial services industry in risk and controls assessment
• Leadership positions in Risk Management (operational Risk preferred), Internal Audit, Compliance or related field a plus.
• Well versed in breaking down complex matters into core issues and root causes so they can be more readily addressed.
• Experience with CitiRisk and Controls and the Managers Control Framework a plus.
• Business or Risk experience in Credit Card product/ business.
• Training/Certificationor experience in database/MIS management tools a plus

Skills

• Strong analytical and conceptual skills.
• Independent thinker and able to perform a credible challenge of the Business.
• Ability to influence and convince without authority.

Anticipated Posting Close Date:

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