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Operational Risk Officer - Risk and Control Assessment VP

직무 ID 22435572 기본 근무지 Irving, Texas, Jacksonville, Florida, Chicago, Illinois, Atlanta, Georgia, New York, New York, Elk Grove Village, Illinois, Tampa, Florida, New Castle, Delaware; 채용 범주 Risk Management
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Job Description – Operational Risk Officer - VP

POSITION OBJECTIVE

Reporting to the 2nd Line Consumer Risk and Control Assessment Head, this position works closely with Consumer ORM Business and Function coverage, Framework & Policy, as well as Independent Risk and other control functions (ORM Fraud/RCSA Global team, Independent Compliance Risk Management (ICRM)) in carrying out job responsibilities. A key success factor is also having an effective working relationship with relevant Business, Product and Function Managers responsible for the Risk Control Self-Assessment execution.

Provide risk and control specific expertise in the form of Credible Challenge of the Business’ risk identification, assessment, monitoring and mitigation processes.  This position includes Challenge coverage across the US Consumer Products, Enabling Functions, Operations and the third parties supporting or used by the entities who own the Risk. The Operational Risk Officer performs the role through intelligent analytics, insightful trigger methodology and documented challenge. The objective is to ensure 1st line of Defense compliance with Citi’s Operational Risk Framework and policies, standards and procedures as well as to meet “Heightened Expectations” from Regulators for the 2nd Line of Defense.  The Consumer RCSA Operational Risk Officer also assists with ongoing development and enhancements to the Operational Risk Framework to include in Consumer ORM specific procedures.  This risk leader is expected to evaluate and monitor all aspects of the Global Consumer RCSA Program through Independent Challenge, identifying gaps and weaknesses in particular businesses, functions and through horizontal risk evaluation. The Operational Risk Senior Officer performs the role through proactive engagement with Independent Risk Partners, Business management and participation in Risk Governance forums.   This role is also expected to assist with the development of enhancements to new or existing Operational Risk Management Policies, Standards and Procedures and take on any other responsibilities assigned by the supervisor.

BUSINESS COVERAGE SCOPE

The scope of this role across the US Consumer Businesses in that it provides oversight and challenge of the Risk and Control Self-Assessment Program across the Managed Segment. Primary interfaces for the role include:

  • Global RCSCA ORM Team
  • Global Consumer Bank RCSA Program and Consumer coverage teams within first line of defense
  • Consumer Operational Risk coverage leads (Independent Senior Operational Risk Managers and their respective teams who cover specific Products, Functions and Regions)
  • Consumer ORM Framework and Policy functions.
  • Subject Matter Experts (SMEs) from other Citi level ORM functions such as Fraud, Third Party. Technology & Data Management and other 2nd Lind of Defense functions
  • Independent Compliance Risk Management

KEY RESPONSIBILITIES

Governance & Oversight

  • Ensure business adherence to operational risk policies and procedures focusing on the Managers Control Assessment Framework (RCSA), ensuring timely corrective actions where non-compliant.
  • Support and execute Challenge of Consumer RCSA entities and associated Assessment Units, both in overall effectiveness and ability to manage residual risk appropriately, ensuring that RCSA entity ratings are representative of the RCSA Entity’s risk exposure.
  • Provide analytical support for Businesses in anticipating and mitigating operational risks.
  • Develop strong working relationship with the 1st line of Defense within scope to secure a valued and respected partnership.
  • In collaboration with ORM Business and Function coverage, establish appropriate engagement process with the Business to enable meaningful challenge and oversight and participate in risk management focused forums.
  • Serve as the Consumer ORM Risk and Control Subject Matter Expert (SME) and provide feedback to ORM Business Coverage Teams on unmitigated significant risks.
  • Ensure adherence to Consumer Op Risk procedures for independent Ops Risk Managers. Assist in the continuous improvement of these procedures to strengthen 2nd line of Defense oversight.
  • Ensure Business is linking all tools in place for managing the operational risk management cycle and evidencing the feedback loop across RCSA, KOR and KI processes, Issue Management, Scenario Analysis, and Operational Loss Analysis results on a continuous basis.
  • Support the annual policy attestation process by providing Business Coverage Product Leads with recommendations on RCSA qualifiers and/or exceptions where applicable.

Risk Identification, Analysis & Assessment

The Operational Risk Officer leverages core tools that are part of the ORM framework viz., the Key Operational Risk Identification and Key Indicator monitoring process, Scenario Analysis, Manager’s Control Assessment Challenge, Internal and External Loss Analysis 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 appropriate for individual risk types associated with the business or product.

  • Identify trends, themes, tendencies that indicate emerging operational risks by creating/relying on intelligent analytics and metrics. Effectively communicate learnings to ORM Business Coverage Leads in order to drive necessary responses and action.
  • Proactively analyse various data sources to form an independent assessment/opinion of operational risk in the relevant business or function within the scope of Challenge responsibility.
  • Understand and articulate alignment of Business level KORs and KIs within the RCSA Entities that constitute / support Consumer Businesses.   
  • Validate through assessment that Significant Inherent and Emerging Operational Risks are adequately incorporated into the RCSA program.
  • Assessment and Challenge of Inherent and Residual Risk Ratings, including management actions  to determine “reasonableness” for entities out of risk tolerance.
  • Develop RCSA metrics reporting for presentation to executive leadership and inform various Consumer ORM Quarterly reporting as well as the GCB BRCC.
  • Continuously monitor risk and control health to determine if off cycle/ad hoc RCSA challenges are required based on external events, internal operational risk events, partner (ICRM, Ind. Credit Risk, etc.) challenge, regulatory change, business strategy shift, etc.
  • Participate in and execute Challenges to proactively identify gaps in risk mitigation frameworks (e.g. RCSA). Identify changes in business strategy or relevant regulations that may lead to an increase in operational risk exposure and ensure that the risks and controls are adequately reflected in the relevant RCSA entity or entities.
  • Incorporate Operational  Losses, KOR/KIs, Independent Audit Exams, Compliance Testing results, Regulatory Exam results, and QA results to ensure linkage and coverage in applicable RCSA Units.
  • Provide RCSA analytical support for Operational Risk Reviews, Lessons Learned Challenge, Horizontal/Thematic Risk Reviews conducted by the GCB ORM RCSA Team or jointly with ORM Product/Function coverage.

Risk Mitigation

  • Drive mitigation of Issues through partnership with 1st line stakeholders to ensure that all ORM sourced issues are properly documented in the formal system of record (iCAPS).  Ensure appropriate timeliness, accuracy and adequacy of corrective action plans in line with CAP management standards.
  • Develop actions to apply lessons learned and share across relevant geographies/managed segments.  
  • Work as an independent partner to ensure that controls mitigate risk and propose improvements to controls and/or monitoring proactively to prevent operational losses.
  • Evaluate control issues and ensure adequacy of Event Root Cause Analysis. Collaborate with ORM Business/Function in ensuring adequate corrective action plans.
  • Challenge business proposed solutions to root causes of Operational Risk Events or control failures
  • Challenge business level Issue and Corrective Action Plans addressing out of tolerance risks to ensure adequate severity level setting, risk categorization, reasonable target dates and effective management action plans.

Qualifications

Education

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

Knowledge /Experience

  • Work experience of 5+ years in the Consumer Finance space with specific focus on Risk and Control Assessment Oversight
  • Deep knowledge of controls, Consumer products with prior experience in Operational Risk Management a plus
  • Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed
  • Foundational knowledge of business self-assessment processes viz. bottoms up risk assessment program experience with focus on risk mitigation and effective control monitoring

Skills

  • Independent thought leader with focus on key operational risks which are most impactful to Consumer business
  • Ability to effectively assess risks and lead credible challenge to influence and partner with ORM Product/Function coverage teams to improve Risk Governance, Controls, Self-Assessment programs, standards and/or procedures
  • Ability to partner and work collaboratively across different ORM teams, functions, and Lines of Defense.

Competencies

  • Exceptional organizational, analytical, 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 forum summaries

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Grade :Salary Range-Level: C13

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Time Type :Full time

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Referral Bonus :

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Job Level : C13

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Job Family Group:

Risk Management

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Job Family:

Operational Risk

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Time Type:

Full time

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Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View the "EEO is the Law" poster. View the EEO is the Law Supplement.

View the EEO Policy Statement.

View the Pay Transparency Posting

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

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