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Third Party Risk Assessment Oversight Lead

Job Req ID 22572511 Location(s) Budapest, Hungary Job Category Risk Management
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The mandate of the Independent Operational Risk Management function to drive comprehensive and consistent practices designed to identify, measure, monitor, report and manage risks while promoting the implementation of actions to address root causes which may lead to unintended losses.  This position will be part of a high-caliber team challenging Citi’s effort to mitigate Third Party Operational Risk.

As a member of the broader Operational Resilience and Third Party Risk team within Operational Risk Management, the role applicant will be a proactive and pragmatic risk manager who understands the risk of supply chain, third party, and outsourcing exposure and can expertly articulate views, provide challenge and risk opinions at various levels in the organization.  Excellent communication skills are required to guide, influence and build relationships across all line of defense. The role also requires attention to detail and comprehensive experience in all aspects of Third Party Risk Management and the Third Party Lifecycle.

The role is to serve as an Independent Third Party Risk leader focused on oversight of Citi’s Global Third Party Risk Management Control/ Due Diligence/ Risk Assessment framework. 

Responsibilities:

  • Implement program to challenge effectiveness of Citi’s Third Party Risk Control and Due Diligence program at the Enterprise level
  • Oversee challenge of Third Party Risk Due Diligence assessment considerations and tiering, assessment execution
  • Oversee challenge of application/execution of assessments by type of vendor service (SaaS, Business Process Outsourcing, etc.), both for new and existing services (on-going monitoring)
  • Oversee challenge of enterprise processes for accepting risk associated with adverse assessment outcomes
  • Partner with relevant ORM SMEs to challenge methodology and design of specific assessment (TPISA, Cob, Fraud, etc.)
  • Challenge adoption of evolving risks (Cloud, Environmental/Social Risks, etc.) within the assessment program
  • Develop methodology for assigning aggregate control design and effectiveness rating across various assessment based on outcomes
  • Conduct and participate in various end to end third party risk management reviews across the global portfolio.
  • Develop, implement, and analyze MIS reports to identify areas of excessive risk and to ensure that mitigation efforts are having the desired effect(s).
  • Guide and assist in the implementation of sound and effective third party risk processes across the enterprise, sectors, and regions
  • Provide counsel on third party related risk issues, ensuring an independent review of policy compliance. 
  • SME challenge in Third Party risk-related scenarios
  • Collaborate with other horizontal Risk SMEs (Compliance Risk, Credit Risk, Fraud, Technology, etc.) as needed to manage risks across the Third Party Risk Lifecycle
  • Facilitate and disseminate best practices across all LoBs
  • Assist Third Party Risk Oversight management and their teams to manage staff including training and career development plans and to ensure high morale among prevention, detection, and recovery staff.
  • Champion third party risk awareness and best practice sharing with various stakeholders and aid in the development of third party risk management training modules.
  • Raise the level of third party risk awareness among global, sector, and country third party risk officers and other related staff.

Requirements:

  • 12+ years in Operational Risk Management, Third Party Risk Oversight, Information Security, or Business Continuity/Operational Resiliency
  • Thought leadership and clarity in presenting ideas to senior management.
  • Experienced Operational Risk and Third Party Risk Management practitioner with extensive first Line and/or second Line experience
  • Understanding and management of various drivers and metrics and the impact on Citi’s ability to manage third party risk 
  • Capable of prioritizing and multi-tasking in a dynamic, fast paced environment.
  • Demonstrated effectiveness across all components within Third Party Risk management and the TP Lifecycle.
  • Ability to communicate complex analytical ideas effectively and persuasively
  • Ability to influence and establish relationships with key stakeholders from remote locations
  • Project management
  • Understanding of consumer banking business , systems and processes
  • Ability to analyze a process and recommend ways to improve quality, controls, and efficiency
  • Thorough understanding of global Third Party Risk practices and industry trends
  • Operational Risk skills and understanding
  • Strong business drive and ability to mobilize organizational commitment and support for Global Programs
  • Regulatory Risk and Compliance
  • Leadership skills and ability to deliver results, working with cross-functional and virtual teams
  • Good business understanding and working knowledge of Risk, Legal, Operations, Technology and Finance
  • University degree; Graduate or postgraduate in Business Administration, Finance, Risk, or any other computationally intensive discipline.
  • Certification within Third Party Risk Management, Information Security or Operational Resilience a plus (CTPRP, CISM, CRISC etc.)

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Benefits:

  • Competitive compensation package with a wide range of benefits:
    • Cafeteria Program
    • Home Office Allowance - for colleagues working in hybrid and remote work models
    • Paid Parental Leave Program - maternity leave and paternity leave
    • Private Medical Care Program and onsite medical rooms at our offices
    • Pension Plan Contribution to voluntary pension fund
    • Group Life Insurance
    • Employee Assistance Program
  • Access to a wide variety of learning and development programs, online course libraries and upskilling platforms, such as Udemy and Degreed
  • Flexible work arrangements to support colleagues’ in managing work - life balance
  • Continuous career progression opportunities across geographies and business lines
  • Inclusive and friendly corporate culture
  • Socially active employee communities with diverse networking opportunities

Apply to join the world’s most global bank and discover the true extent of your capabilities!

#RiskAndControlCareers

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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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