Compliance Sanctions Director (Advisory) – Payments/Treasury & Trade Solutions
Serves as a senior compliance risk manager for Independent Compliance Risk Management (ICRM) to Citi’s Treasury and Trade Solutions (TTS) businesses. Responsible for establishing internal strategies, policies, procedures, processes related to monitoring and fostering awareness of sanctions regulatory requirements that Citi must comply with; assessing related sanctions risk exposure, overseeing the quality of sanctions control processes and setting global standards to manage and mitigate those sanctions risks and protect the franchise. In addition, provides support for the collation of potential breaches of sanctions from across the firm and work with contacts in the Business and Compliance to ensure consistent and effective application and implementation of, and controls to evidence adherence to, relevant sanctions related global standards, policies and procedures.
Key Activities include:
- Designing, developing, delivering, and maintaining best-in-class Sanctions Compliance policies and practices, providing a mechanism for identifying key sanctions risks and how the mitigation of those risks would be monitored and measured through a robust control framework. Ensuring that reviews are conducted consistently across each entity on a regular basis to ensure that the controls identified are operating effectively. Acting as an Economic Sanctions Subject Matter Expert responsible for overseeing the bank’s risk-taking activities.
- Managing specialized teams of Compliance professionals responsible for providing sanctions advisory support to the TTS businesses – Payments, Receivables, Commercial Cards, Digital Channels, Liquidity Management Services, and Global Trade. Responsible for the execution of Program activities. Developing, attracting, and retaining talent; recommending staffing levels required to carry out the unit’s role and responsibilities effectively while establishing and adhering to talent management processes and compensation and performance management programs.
- Providing review, oversight and guidance over the assessment of complex transactions, deals and issues, structuring potential solutions and driving effective resolution with other senior stakeholders. Providing advice to the businesses on an ongoing basis on new business initiatives, new products, business acquisitions, and client-related matters with respect to applicability of policies, resolution of potential red flags or other client/transaction-related compliance escalations.
- Acting as the main point of contact for US and foreign regulators and Citi internal audit staff for Sanctions matters, as appropriate, including coordinating Sanctions-related examinations, audit and reviews, document production, and issue responses. Reviewing and approving OFAC Administrative Subpoenas, Voluntary Self-Disclosures and relevant regulatory correspondence.
- Monitoring adherence to Citi’s Global Sanctions Policy and relevant procedures; staying current on key Sanctions regulatory changes, key enforcement actions and related industry trends. Identifies and escalates to the Chief Sanctions Officer material risks and significant instances of non-adherence to the Framework by accountable front line units; directs investigations in coordination with GIU, CSIS, Legal, HR or as appropriate.
- Interacting with Senior Management to raise awareness of Sanctions trends, emerging issues, remedial actions or enhancements to the program; supervises the preparation of materials for the Board or relevant management/risk committees.
- Participating in and managing or coordinating, as appropriate, various internal assurance processes, e.g. Regional Enterprise wide and Horizontal risk assessments, self-assessment, internal audit or compliance assurance reviews.
- Additional duties as assigned.
Knowledge and Skills:
- Must have strong product knowledge of payments and receivables, digital payment trends, operations, and technologies.
- Extensive knowledge and expertise of Sanctions and AML regulations, risks and typologies
- Experience in the design and implementation of Sanctions technology
- Experience in managing regulatory exams and relationships with examiners, auditors, etc.
- Awareness of regulatory requirements including local and US laws, international and industry standards
- Highly motivated, strong attention to detail, team oriented, organized
- Excellent written, verbal and analytical skills
- Strong communication and interpersonal skills; strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging
- Ability to interact and communicate effectively with senior leaders
- Significant knowledge and expertise of Compliance laws, rules, regulations, risks and appropriate controls
- Experience in the design and implementation of Compliance programs
- Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
- Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
- Experience with and previous exposure to internal or external control functions and regulators (incl. the US)
- Ability to challenge business management and escalate issues when appropriate
- Strong track record of effectively assessing and managing competing priorities
- Experience managing diverse teams, and comfort navigating complex, highly-matrixed organizations
- Comfortable acting as an agent for positive change with agility and flexibility
- Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management skills are essential
- Bachelor’s Degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; previous experience managing a diverse team; Advanced degree a plus
Job Family Group:Compliance and Control
Time Type:Full time
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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.
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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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