Citi Group Business Risk Control Officer Vice President 

United States, District of Columbia, Washington 

836732461

Organization Overview:

We are a dynamic, global and diverse organization, with a presence in over 80 Countries covering all post execution Operations teams including product-aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & Commodities Operations. We support an extensive range of Capital Markets products and services including:

• Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market
• Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and
• Syndicates where we support both FI and EQ new issues and IPOs.

Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace. We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls - to protect our clients, the firm, and our reputation. We work closely with our external global peers, partners, and regulators, and play an integral part in leading an agenda at the forefront to optimize and streamline processes and drive strategy across our industry.

TheMarkets Operations COO Controls and Regulatory Managementfunction is comprised of:

• Deeply embedded Control Officers supporting product-aligned global Middle Office & Operations teams to support KPI/KRI oversight & challenge, ORE deep dive & escalation, proactive Control Reviews, MCA oversight & challenge, Enterprise & Ops specific Risk Initiatives, Audit Interface and oversight, Issues & CAP analysis/remediation, and Control Advisory
• A Centralized Controls function comprised of Regulatory Control & Governance, Control Solutions & Risk Remediation, and Risk Identification & Monitoring teams who partner to support operational risk related matters across functions and products.

Job Purpose:

The incumbent will be responsible for central engagement with 3rd line of defense (internal/ external audit), 2nd line of defense (e.g., compliance functions, legal and enterprise risk management, Financial and Regulatory Risk Management, etc.), to ensure effective cross-product Issue & Corrective Action Plan Management, Operational Risk Event management including Escalation, and Internal & External Audit exam participation for Markets Operations globally.

Partnering with Markets Operations line staff, this role will be responsible for assisting in the proactive management of operational risk and remediation of control issues, Manager’s Control Assessment (MCA), SOX Governance/Adherence, Policy and Communication. The team enables Markets Operations to comply with Enterprise risk management policies and standards. The incumbent will be responsible for developing and maintaining comprehensive processes to identify and reduce operational risk. This requires co-ordination across numerous internal operations teams, as well as various other support and control groups within the 2nd and 3rd lines of defense within the organization.

Key Responsibilities:

• Partner with Markets Operations globally to ensure we are set up to succeed. Execute vs a strategy that fosters a culture and environment where processes, risks and controls are continually monitored, and potential risks escalated on a timely basis as well as acting as a central initial point of escalation.
• Support efforts to embed an effective supervisory control framework that fully meets Audit, Compliance and Regulatory requirements. Implementing daily control framework for line managers.
• Partner with Audit and Line Control to ensure global consistency and perform independent spot checks.
• Manage high prioritycross-product Audit, Compliance, Regulatory and self-identifiedIssues for Markets Operations to ensure timely completion of corrective action plans and issues remediation.
• Support Embedded Control Officers and the Markets Operations functional heads in the quality, completeness, and accuracy of the implementation of the Control Framework, including Risk Control Policy, Control Standard, Issue Management Policy, Lesson Learned Policy, and Control Inventory.
• Perform detailed analysis for identification of issue root cause, partnering with control and process owners to recommend holistic corrective actions and improvements, provide check and challenge and ensure appropriate escalation in accordance with firm Issue Management and Escalation Policies, Standards and Procedures.
• Maintain strong working relationships with Markets Operations functional heads and their teams, Embedded Control Officers, In-business Risk Controllers, as well as the second and third lines of defense to support stakeholders in the definition of cross-product issues and corrective action plans (CAPs).
• Support Internal Audit (IA) reviews to ensure effective audit coordination, driving factual accuracy of findings independently and managing conflicts. Also support efforts to ensure that appropriate IA CAPs are raised with right-placed issue and CAP ownership.
• Proactively collaborate with Markets Operations and other cross-functional, global stakeholders to ensure audit readiness.
• Apply knowledge of the business, products, or services to identify and implement control points and processes throughout the business.
• Review Issue and CAP closure documentation to ensure adequate evidence of risk mitigation and control design and operational effectiveness.
• Proactively identifies emerging risks and assists the control team with resolving control gaps and issues and helps to create corrective action plans, inclusive of root cause identification and resolution.
• Accomplishes results through the management of professional team(s) and department(s).
• Integrates subject matter and industry expertise within a defined area.
• Contributes to standards around which others will operate.
• Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the entire function.
• Requires basic commercial awareness.
• 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.
• Partners with the team on all new or modified processes to review through the appropriate governance routines and launch adequate controls which can be monitored and reported.
• Contribute to the governance and oversight of the Manager Control Assessment (MCA) execution inclusive of SOX (i.e. Risk & Control Self-Assessment)working closely with Markets and Finance stakeholders and their Teamsto identifyprocesses, risks, and controls relevant to financial reporting and in scope SOX processes.
• Partners stakeholders on all new or modified processes to review through the appropriate governance routines and launch with adequate controls which can be monitored and reported.
• Ensures internal reviews and external examinations are well managed with clearly evidenced controls.
• Serve as partner on Manager Control Assessment (MCA) Quarterly Risk Assessment and the Annual Risk Assessment process.
• Actively focus on process improvement, creating efficiencies, and ensuring proactive approach and partnership to audit management
• Has the ability to operate with a limited level of direct supervision.
• Can exercise independence of judgement and autonomy.
• 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.

Qualifications:

• 7-10years of experiencein Banking, Finance industry with a focus on Capital Markets, Operations, Risk and Controls governance, regulatory and audit engagement responsibilities.
• Internal Audit expertise especially as related to issue and corrective action plan (CAP) remediation validations, measuring, and evidencing risk reduction, and control design and operational effectiveness testing (DEA/OET).
• Knowledge of Financial Markets Traded Products, and Front to Back trade lifecycle activities.
• Experience in Operational Risk Management is highly desirable.
• Financial Control and SOX Governance is also desirable.
• Strong risk management and control mindset with anaffinity for storytelling using data and visualizations to socialize findings and insights to key executives and stakeholders.
• Excellent interpersonal skills andability to work collaboratively and with people at all levels of the organization within and across functions, business units, and project teams under tight timelines.
• Ability to effectively communicate technical and business issues and solutions to multiple organizational levels internally and externally as needed to support strategic goals.
• Strong verbal, written, presentation, andcommunications skills including the ability to track deliverables, and articulate complex problems and solutions through concise and clear messaging; developed communication and diplomacy skills are required to guide, influence, and potentially convince others, in particular colleagues in other areas of the firm (i.e.,Internal Audit,Citi’s Regulatory Agencies, Compliance, Finance, etc.).
• Must have outstanding leadership and influencing skills as will work with senior leaders and audit partners on a regular basis.
• Demonstrated judgement and critical thinking skills.
• Ability to effectively prioritize complex projects and the skills to adapt quickly to new challenges and concepts, capable of navigating ambiguity and problem-solving issues in a heavily matrixed corporate environment.
• Highly organized and motivated self-starter with strong attention to detail and a teamwork-oriented approach
• Self-reliant, good problem solver, results-oriented
• Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint.
• Proficiency in MS Office applications (advanced expertise in Excel, PowerPoint, SharePoint, Teams a plus).

Education:

• Bachelor’s/University degree, Master’s degree preferred

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Transformation to Target State:

• Review our suite of controls and suggest change to uplift the risk profile throughout the Organisation and its products
• Drive standardization of controls across regions and suggest opportunities for harmonisation across teams
• Implement plans and execute vs milestones ensuring we meet deadlines
• Ensure our infrastructure and tools meet the needs in order to manage risk. Develop and suggest operating model changes in order to pivot the operations Organization towards digitization and a robust control environment
• Drive and support the delivery of strategic platform re-engineering initiatives, with conscious intent to standardize and industrial flow, reducing manual touch points and aligning tech delivery vs. business goal and wallet share optimization
• Support the implementation of initiatives to continuously improve Straight Through Processing (STP) rates
  

Story Telling:

• Help drive comprehensive risk KPIs/Metrics for senior executive consumption – for each product and function, working in close partnership with the Product Leaders
• Analyze risk metrics for trends and lessons learned
• Partner with the Ops product leaders to understand and update process flows, challenges and potential solutions and present opportunities to senior Management
• Articulate solutions vs current state for digitization, automation, low code solutions and straight-through processing

People Agenda:

• Promote a culture of continuous improvement and cultivating a robust service and control environment
• Champion diversity and inclusion to create a working environment which allows our People to thrive and excel

Anticipated Posting Close Date:

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