Operational Risk Management / SVP (C14), ORM Controls

Operational Risk Management (ORM) as part of Citi is focused on establishing an embedded, industry-leading operational risk culture across the enterprise that results in exceptional execution and strengthens franchise value. As a member of the ORM Controls Team, the Operational Risk SVP, ORM Controls will be responsible for management and oversight of ORM’s Risk & Control Self Assessments (RCSA), particularly Control Design, Monitoring and Testing. 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. The Operational Risk SVP, ORM Controls will also have the responsibility for pulling together reporting, communicating a holistic narrative related to ORM’s Controls.

Key Responsibilities:

• Participate in the transformation of Citi’s RCSA program (called Managers Control Assessment, or MCA).

• Execute adoption and migration of MCA controls to the future state.

• Build target state process models for ORM-owned processes.

• Oversee and support the application of operational risk policies and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.

• Assess risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.

• Develop and maintain strong working relationships with in-Business & Function Risk / Control Leads and other key stakeholders.

• Build control monitoring procedures, including quality testing and reviews of operating effectiveness and sustainability.

• Facilitate control monitoring, including communication of expectations to control owners.

• Partner with control owners on inherent risk rationale and reassessment of rationale in accordance with monitoring results.

• Maintain controls for processes impacting ORM, including ongoing evolution of controls in alignment with risk profile changes.

• Identify control weaknesses and assess root cause, partnering with control owners to determine appropriate risk response.

• Raise issues as appropriate to improve control design and execution, including determination of issue ownership.

• Support development and discussions related to annual, quarterly, and monthly risk assessments, residual risk analysis, and action plan creation.

• Produce analytics, status updates and monthly reporting to inform decision-making regarding control performance and potential enhancements.

• Recommend areas of focus for automation of manual controls.

• Contribute to a robust control environment and culture.

Qualifications:

• 10+ years of experience in financial services with experience in Operational Risk and knowledge of relevant financial regulations.

• Fast learner with excellent communication skills, both verbal and written.

• Experience with change management programs/projects and initiatives to improve risk and control management at a large financial institution.

• Experience with design, re-design, or enhancing of control environments and risk and control self-assessment processes.

• Demonstrated capability to confidently raise issues, escalate early, and engage in constructive credible challenge independently.

• Good understanding of Business Analysis and Project Management best practices preferred.

• 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.

• Strong interpersonal skills, with evidence of working in collaboration across large organizations, including a proactive and 'no surprises' approach.

• History of proactively seeking opportunities to enhance and strengthen controls in a way that enhances risk management and oversight.

• Process re-engineering and improvement mindset with ability to identify and solve for root cause rather than symptoms; track record of problem-solving and approaching opportunities in a holistic way that breaks down organization silos.

• Experience constructively challenging others at all levels and across boundaries to deliver better results, as well as inviting constructive feedback.

• Proven results working across teams and boundaries, regardless of titles and roles, to deliver value to internal and external clients.

• Understanding of best-practice risk management techniques across the financial services industry.

• Proficiency in Word, Excel, PowerPoint & SharePoint. Good understanding of Data Concepts and experience using Business Process Management, Reporting & Analytical Tools.

Education:

• Bachelor’s/University degree and relevant certifications/advanced degrees preferred.

Job Family Group:

Risk Management

Job Family:

Business Risk & Control

Time Type:

Full time

Primary Location:

Irving Texas United States

Primary Location Full Time Salary Range:

$144,480.00 - $216,720.00

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 26, 2024

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