SVP, Operational Risk Sr Officer I (Hybrid)

This primary focus of this role is oversight of US Branded Cards and Lending business, as well as any other responsibilities assigned by the Consumer ORM Business Coverage lead.

The role involves oversight of risks associated with Cards business across end-to-end product delivery lifecycle.

Prime interfaces for this role include :

• USPB Consumer 1st Line of Defense and In-Business Operational Risk and Control organization.
• Other Consumer ORM Business Coverage teams for North America to ensure consistent standards in oversight execution as well as transfer of lessons learnt.
• Consumer ORM Framework and Risk Cycle Management team for expertise in framework requirements, policies and procedures.
• ORM Foundation team who leverage the Business ORM team for expertise and escalation of issues.
• ORM CAO, Governance, Audit and Regulatory Relations team to ensure effective business management and regulatory interactions.
• Franchise Risk Architecture Reporting team to support business risk profiling and reporting.

KEY RESPONSIBILITIES

Governance & Oversight

• Develop strong working relationship with the business within scope to be a valued and respected partner.
• Together with the Business coverage lead establish an appropriate engagement process with the Business to enable meaningful challenge and oversight and participate in risk management focused forums.
• Assist Business Coverage lead / present relevant material as necessary at senior level governance forums such as Business Risk Reviews and Business Risk Compliance and Control Committees.
• Ensure business adherence to operational risk policies.
• Execute responsibilities articulated in the ORM Policy for independent operational risk managers including deep dives into any significant current or emerging risk areas.
• Ensure adherence to Consumer Op Risk procedures for independent Business coverage risk managers and for the Business.
• Understand the linkages, and ensure Business is linking all tools in place for managing the operational risk management cycle.
• Escalate operational risk events within the Business and within ORM as appropriate with relevant context and risk assessment.

Risk Identification, Analysis & Assessment

The Operational Risk Manager leverages all the core tools that are part of the ORM framework 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.

• Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics.
• Proactively analyze various data sources to form an independent assessment / opinion of operational risk.
• Assist the Business coverage lead in developing and implementing the data mining and conceptual approaches necessary to establish robust leading indicators and metrics.
• Continuously monitor Material Operational Risks and related Key Indicators to ensure the Business is taking appropriate action.
• Participate in and lead Risk Reviews to proactively identify significant potential risks in the Business.
• Identify changes in business strategy or relevant regulations that may lead to an increase in Op Risk.
• Analyze losses in the Business to understand how losses were incurred and determine lessons learned.
• Support and lead challenges of MCA entity ratings quarterly and of Annual Risk Assessments.
• Support Scenario Analysis efforts, and track and oversee Business monitoring of triggers and action plans.

Risk Approvals

• Evaluate MOR / KI change proposals from the Business before approval by Business Coverage lead.
• Review ORM Policy / Consumer ORM Exception requests before approval by designated ORM approver.
• Assist in review of transactions proposed to the Personal Banking New Product Approval Committee (PBNAC).

Risk Mitigation

• Drive solutions to root causes that potentially can lead to operational risk.
• Develop actions or projects to apply lessons learned and share across relevant geographies / managed segments.
• Work as an independent partner to mitigate risk and improve processes and controls.
• Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans.

Qualifications

• Bachelors Degree / Masters Degree in Business, Finance, Accountancy, Law, Science, or other relevant fields.
• Training / Certification or experience in database / MIS management tools a plus.

Knowledge and Experience

• Work experience of 10+ years in the financial services industry in risk and controls assessment.
• Leadership positions in Risk Management, Internal Audit, Compliance or related field a plus.
• Experience with CitiRisk and Controls and the Managers Control Framework a plus.
• Business or Risk experience in Credit Card product / business.

Skills

• Strong analytical and conceptual skills.
• Independent thinker and able to perform a credible challenge of the Business.
• Ability to influence and convince without authority.

Job Family Group : Risk Management

Job Family : Operational Risk

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. For additional information regarding Citi employee benefits, please visit citibenefits.com.

Anticipated Posting Close Date : Sep 23, 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.

Read all the information about this opportunity carefully, then use the application button below to send your CV and application.

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Remote working / work at home options are available for this role.