SVP - Business Risk Group Manager - Volcker Rule Office

Global Markets provides world-class solutions that are as diverse as the needs of the corporates, institutions, governments, and individual investors we serve.

The breadth, depth, and strength of our underwriting, sales and trading, and distribution capabilities span asset classes and currencies, sectors and industries, covering a vast array of products.

The candidate will be a key member of Credit and Price Risk Execution in Citi Global Markets. Markets Credit and Price Risk Execution is mandated to establish and maintain a robust first line of defense designed to minimize risk within the business including leading critical control initiatives to mitigate risk in Trading, Financial Crimes and Conduct while ensuring strong governance to measure, monitor, manage and escalate key risks.

The Volcker Rule Office (VRO) is a first line function which provides overall coordination and monitoring in support of Citi’s Volcker Compliance Program.

Responsibilities include monitoring and maintenance of the central control framework as well as coordinating engagement with Citi’s lines of defense.

The VRO works closely with the Businesses, Independent Risk Management, Compliance, Legal, Finance, and others. The team oversees operation of key processes and controls for the firm including the following areas : Desk structure, Desk mandates, trading / hedging strategies, products, limits, covered funds and metrics reporting to the Volcker Regulators.

As a member of the Volcker Rule Office, you will deliver integrated solutions supporting Citi’s global Volcker Rule compliance program among other regulatory deliverables including but not limited to FRTB.

Responsibilities :

• Responsible for the successful delivery of projects and BAU activities in line with overall Credit and Price Risk Execution book of work on the Volcker Rule Program.
• Partner with key stakeholders to monitor changes in business activity. Assess any Volcker implications and support the business in ensuring Volcker compliance requirements are met on an ongoing basis.

Key subject areas include but are not limited to Trading Desk Mandates, trading and hedging strategies and FRTB.

• Project manage and deliver key changes across a number of Trading Desks and Business Units, engaging functions including Independent Risk, Legal, Finance and Compliance.
• Partner with Technology teams to develop sustainable solutions supporting the Volcker and FRTB Programs including enhanced controls and streamlining / automation initiatives.
• Identify, prioritize and proactively manage dependencies, risks, exceptions and issues.
• Oversee management of Volcker Control Framework across multiple functional areas including : Desk Mandates, Volcker Metrics, Covered Funds, Risk Limits / RENTD.
• Represent the Volcker Rule Office in communications with internal control functions regarding Annual Volcker Independent Testing, Internal Audit reviews, and assist in external regulatory examinations of the VRO to demonstrate ongoing compliance with the Volcker Rule.
• Lead, supervise, coach and develop more junior VRO team members.
• Accountable for management of complex / critical / large professional disciplinary areas.
• Leads and directs a team of professionals.
• Requires a comprehensive understanding of multiple areas within a function and how they interact in order to achieve the objectives of the function.
• Applies in-depth understanding of the business impact of technical contributions. Strong commercial awareness is a necessity.
• Generally accountable for delivery of a full range of services to one or more businesses / geographic regions.
• Ensure that emerging risks identified are socialized with key stakeholders and mitigation strategies are in place.
• Identify areas of engagement based on level of investment, inherent risk, complexity of change and other risk factors
• Execute Risk Control coverage strategy, ensure appropriate risk mitigation actions are in place and escalate to senior management as appropriate
• Provide supervision of Risk Control team's efforts and assist with prioritizing and addressing roadblocks encountered
• Leverage reporting to identify trends, themes and areas requiring improved controls
• Drive Manager's Control Assessment monitoring, quarterly approvals and improvements required
• 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 :

• 10+ years experience in Risk and people management
• Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication may be necessary.
• Experience with regulatory rules and ideally in delivering regulatory initiatives. Knowledge of the Volcker Rule and Basel / FRTB a plus.
• Project management background with experience of project management techniques in a Markets Front Office environment preferable.
• Knowledge of market risk, global markets trading products and services, Fixed Income, Equity, Currencies & Commodities and / or Securities Services Prime, Collateral, Clearing, Custody and Fund Services.
• Understanding of Front Office trading processes and trade lifecycle within a large bank / dealer.
• Experience in designing and implementing business processes and associated business requirements documentation.
• Exposure to analyzing legislative and regulatory texts and associated legal analysis.

Skills and Competencies :

• Strong analytical and problem-solving skills, with high attention to detail.
• Organized, with the ability to manage multiple requests and prioritize accordingly.
• Strong interpersonal and organizational skills to mobilize and motivate delivery in a co-operative and collaborative working environment across trading and support functions.
• Excellent verbal and written communication skills.
• Fluency in MS Office suite
• Knowledge of internal Citi systems a plus.

Education :

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

Job Family Group : Risk Management

Risk Management

Job Family :

Business Risk & Control

Time Type : Full time

Full time

Primary Location :

New York New York United States

Primary Location Full Time Salary Range :

$163, - $245,

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 Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date :

Jun 13, 2024

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.

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