SVP - Risk Governance Manager – Hong Kong CRO Office
Country Chief Risk Officers (CROs) serve as the single point of contact for franchise-level Risk matters in each country. They play a critical role in oversight of review and challenge performed by Independent Risk Management and serve as key Risk partners to the respective Citi Country Officers (CCOs/CEOs).
Country CROs oversee all Risk verticals, regulatory issues, and the effects of internal developments and external events on their countries’ exposures, liquidity, and operations. They build and maintain networks within countries and regions, foster teamwork among Risk teams in the countries, participate actively in regional and global Risk Management forums, and promote awareness of issues and concerns specific to their countries and regions. Country CROs opine on franchise-level issues on behalf of Risk Management in addition to acting as the senior Risk Management representative at country-level governance forums, in discussions with Internal Audit, and with external stakeholders such as regulators, industry organizations, auditors, and rating agencies. They provide critical second line of defense challenge in line with the Risk Governance Framework and embody the independence of the second line of defense in their countries.
The Hong Kong CRO reports to the APAC CRO and partners closely with the Hong Kong CCO. The Risk Governance Manager will report directly to the Hong Kong CRO and have the unique opportunity to work in the fast-paced environment of a franchise-critical team, contributing significantly to regulatory and governance initiatives that are critical to Citi’s regulatory compliance and risk management framework.
The Risk Governance Manager will help oversee all Risk-related regulatory and governance matters across all legal entities in the country and ensure timely escalation and resolution of Risk issues from all Risk segments through established escalation channels to the appropriate country, regional or global governance committees. He/she will work closely with the Office of the APAC CRO on regular, ad hoc, and crisis management-related requests for audiences that include senior management, the Citigroup Board of Directors, rating agencies, and regulators.
Other key responsibilities are as follows.
- Review and understand all applicable Risk regulations issued by HKMA and other relevant regulators; design and oversee timely and comprehensive implementation of such regulations by all businesses and product groups by writing, reviewing, and/or approving the required local policies and procedures, taking into consideration relevant Citi policies, guidelines, and frameworks
- Coordinate regulatory audits, reports, requests, surveys, projects, and presentations on behalf of Risk Management; oversee gap analyses of new regulations and guidance
- Represent the Hong Kong CRO in all initial and working level meetings with onshore regulators; review all Risk-related regulatory reports to ensure completeness, consistency, and accuracy; provide inputs and review Risk contribution to other regulatory reports
- Act as the primary and initial interface on behalf of the Hong Kong CRO with all in-country, regional, and global teams on all regulatory and governance matters; coordinate and lead all applicable in-country responses to modified and/or new regulations
- Review, challenge, and approve product programs and policies prepared by other local functions and businesses; participate in the new product approval process as needed on behalf of the Hong Kong CRO
- Coordinate global and regional policies and initiatives that impact the country, collaborating with country/legal entity-based Risk teams and the Office of the APAC CRO; oversee gap analyses and appropriateness of corrective action plans (CAPs) as needed
- Monitor Internal Audit, regulatory, and other Risk-related CAPs in the country; ensure that enterprise risk component of relevant audits, inspections, and reviews are completed successfully. Ensure that follow up actions raised by internal and external audits are diligently completed
- Ensure that risk and control assessment reporting process (including updates to senior management) is well defined and effective
- Coordinate the Risk-related governance committees; supervise execution of regulatory and Board deliverables
- Research, synthesize, and present topics related to emerging country risks and headwinds; summarize findings in succinct presentations and written reports for senior audiences
- Responsible for presentations and documentation relating to regulatory and strategic deliverables
- Oversee other projects and initiatives such as stress tests, deep dives, country crisis management, and process reengineering
- Oversee preparation of Risk Management component of ICAAPs and stress tests in compliance with internal governance and policy requirements
- Support Hong Kong CRO on budget, expense, and headcount processes for Hong Kong Risk Management
- Serve as point of contact for the Office of the APAC CRO for all country-specific governance matters
- Promptly communicate and escalate any significant issues and breaches that may materially affect Citi’s risk profile
- Mentor and coach junior analysts in team
Experience and Qualifications
- Bachelor’s degree; Master’s degree preferred
- 10-12 years Risk experience in a global organization
- In-depth knowledge of risk policies, regulatory frameworks, and banking products and services
- Experience with coordinating regulatory reviews and responding to regulatory requests and surveys
- Experience in production of reports, presentations, or pitch books for senior audiences
- Experience in synthesis of large amounts of data and written information
- Excellent English verbal and written communications skills; ability to succinctly present issues and status to managers
- Proven time management skills, ability to work under pressure, and ability to cope with unpredictable but time sensitive requirements
- Experience in supervising or coaching junior analysts
- Demonstrated ability to effectively partner with key constituents and stakeholders
- Demonstrated direct and indirect influence abilities
- Experienced in partnering with global and/or regional peers to leverage and implement best practices
- Demonstrated ability to distill technical concepts and results into intuitive, impactful, and easily digested messages for senior management, auditors, and regulators
- Demonstrates strong ethics and integrity
- Demonstrated ability to effectively voice and defend independent views and handle conflict
- Excellent interpersonal and communication skills for interaction with senior management
- Ability to effectively navigate organizational complexity, break silos and build partnerships across functional and business peers
- Makes decisions using well-reasoned judgment under pressure and in a timely manner; identifies and assesses alternatives as part of the decision-making and escalation processes
- Ability to adapt and perform well under pressure and through rapidly developing situations
- Strong leadership skills and ability to influence and initiate change
Job Family Group:Risk Management
Job Family:Country Risk
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