TTS Payments Controls and Regulatory Management Risk Director- C15 (Hybrid)

The Payments Controls and Regulatory Management Risk Director is a senior specialist who sits in the Payments business and will work globally to make sure a robust framework exists to manage and mitigate operational, compliance and regulatory risks across the business.

This role will work with Product Managers and Business Heads, Controls teams, partners in Operations and Technology, and second line/functional partners in Risk, Compliance, Operational Risk Management, Fraud Risk Management and Legal.

This role will specifically own and execute risk and control programs and initiatives related to transformation activities, strategic programs, streamlining, standardization, risk read-across to enable safe and sound growth of the TTS Payments business.   

This is a sole contributor role, at a senior level, that requires requisite skills, experience, and ability to build, drive, implement and influence change to remediate gaps in current Payments Controls program. The scope of this role covers the following GRC Risk Stripes as per the Citi Risk Taxonomy.  

Risk Taxonomy Primary Responsibility:

Operations and Compliance Risk:

• Governance & Prudential Risk
• Money Laundering Risk
• Sanctions Risk
• Fraud and Bribery Risk
• Customer Protections Risk
• Data Management Risk
• Processing Risk
• Credit Risk

Risk Taxonomy Ancillary Responsibility:

• Reputation Risk
• Risk Oversight Errors
• Strategic Risk
• Model Risk
• Market Risk
• Reporting Risk
• Physical Damage Risk
• Human Capital Risk
• Liquidity Risk

Key Role Responsibilities

Product Governance

• Drive execution of enhanced Product Governance framework for Payments Controls, ensuring consistent processes across products/clusters to manage risk holistically.
• Drive enhancements to the program to connect product centered tools in Citi Risk and Controls, to client acquisition life cycle components such as client oversight committees and KYC processes;  and ultimately to operational monitoring processes.
• Develop improved oversight processes for Product Inventory, Product Risk Rating, New Activity Reviews, Business Risk Reviews, and the monitoring of conditions and control requirements for our products.
• Lead effort to ensure Payments fully adopting all aspects and requirements. 
• Drive program to enhance Product Approval Programs to ensure identified inherent risks have been appropriately captured in PAP, mitigated and risk is within Appetite.
• Lead read across of front to back risks over emerging and existing key risks, issues, control weaknesses, processes, corrective actions, validations, and enhancements.

Payment Services Controls Lead

• Provide ‘coverage’ to Payments Services team, which owns all strategic initiatives focused on AML, Sanctions, Fraud, Data and Credit.
  • This is a cross-product team building solutions to broader Payments issues
• Role needs to review programs, provide insights and inputs, review corrective action plans, assist with programs/closures, assist with extensive tracking, reporting and escalations.

New Product and Business Reviews

• Lead effort to ensure Payments fully adopting and in compliance with all aspects of the new product and activity program requirements.  (Business Risk Risk Reviews, Project Life Cycle Framework, and New Activity Committee.)

• Drive program to enhance Product Approval Programs to ensure identified inherent risks have been appropriately mitigated and residual risk is within Risk Appetite

Payments Credit Consumption

• Define and implement Controls oversight program for Payments consumption of credit aligned to Wholesale Credit Risk program and Target Operating Model.
• Own oversight of Issues and Risk Stripes related to credit consumption.

Risk and Control Project Management 

• Lead programs in support regulatory, risk and control projects related to Citi’s Transformation and/or the Consent Order. (eg – Booking Models/Controls, Conduct)
• Lead efforts to define control frameworks for new business initiatives (eg – Gaming, Marketplaces, OBO – On Behalf Of, etc)

General Duties

Risk Identification, Analysis, and Management

• Identify, quantify, prioritize, and report key risks across the business
• Ensure mapping back to the Manager Control Assessment.
  

Audits, Franchise Reviews and Regulatory Examination Management

• Support the Business and functions on audits, reviews and exams to ensure appropriate preparation, pre-review assessments and post-review remediation.
  

Training and Awareness

• Perform training on risk and control concepts, processes, tools, and on effective issue self-identification and testing.
• Create Permanent Control Readiness awareness based upon remit.

Education:

• Bachelor’s/University degree or equivalent experience, potentially Masters degree and managerial experience

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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.

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