VP - Risk Governance Officer – 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 Officer 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 Officer will support 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. He/she will support the Hong Kong 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 applicable Risk regulations issued by HKMA and other relevant regulators; assist in design and oversight of timely and comprehensive implementation of such regulations by all businesses and product groups by drafting and reviewing the required local policies and procedures, taking into consideration relevant Citi policies, guidelines, and frameworks
- Support coordination of regulatory audits, reports, requests, surveys, projects, and presentations on behalf of Risk Management; execute gap analyses of new regulations and guidance
- Support the Hong Kong CRO and Risk Governance Manager in 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
- Support the Hong Kong CRO and Risk Governance Manager on all regulatory and governance matters; coordinate all applicable in-country responses to changes and/or new regulations
- Assist in review of product programs and policies prepared by other local functions and businesses; support the new product approval process as needed on behalf of the Hong Kong CRO
- Help 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; support gap analyses as needed
- Help monitor Internal Audit, regulatory, and other Risk-related CAPs in the country; assist in ensuring 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
- Help ensure that risk and control assessment reporting process (including updates to senior management) is well defined and effective
- Help coordinate the Risk-related governance committees and 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
- Support production of presentations and documentation relating to regulatory and strategic deliverables
- Participate in projects and initiatives such as stress tests, deep dives, and country crisis management
- Support preparation of Risk Management component of ICAAPs and stress tests in compliance with internal governance and policy requirements
- Support coordination with 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
Experience and Qualifications
- Bachelor’s degree; Master’s degree preferred
- 8-10 years Risk experience in a global organization
- In-depth knowledge of risk policies, regulatory frameworks, and banking products and services
- Experience with 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
- 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
- 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
- Ability to influence and initiate change
Job Family Group:Risk Management
Job Family:Country Risk
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