Central Review Unit Supervisory Principal

The Business Risk Officer – Central Review Unit Supervisory Principal role in Citi Global Wealth is a seasoned FINRA-licensed securities professional role responsible for executing day-to-day supervisory activities across a group of Registered Representatives.  Applies in-depth disciplinary knowledge, contributing to the development of new techniques and the improvement of processes and workflow within supervision.  Perform daily reviews in support of the OSJ (Office of Supervisory Jurisdiction) and its Registered Representatives; this may include but is not limited to: review and principal approval of insurance and annuity transactions. This review will include an analysis of transactions, including replacement transactions for compliance with Firm policies and procedures, as well as adherence to state and FINRA regulatory requirements (including NY State Regulation 60 and FINRA Rule 2330), and provide pre-trade supervisory/principal approval of these transactions. In addition, the role holder will be expected to work closely with a diverse group of support and control functions including Business Risk, Compliance, Operational Risk, Legal and Internal Audit.

Responsibilities:

• Ensure timely and appropriate escalation of issues and maintain relevant metrics for reporting purposes
• Build partnerships with supported Line of Business operations, Registered Reps, Sales Managers and Supervisory partners.
• Execute on projects and initiatives within agreed timeframes
• Interface, consult and advise Senior Management including, but not limited to, Compliance, AML, Sales Management.
• Assist on ad-hoc projects as assigned by Management.
• Prepare for and assist in internal and external (regulatory) audits, examinations and other compliance testing initiatives
• Maintenance and retention of all relevant files within the functional requirements of the role
• Assist the Business in key policy adherence and monitoring
• Ensure adherence to the Citi Operational Risk Policy in regard to operational loss approvals and reporting.
• Escalate potential errors promptly in accordance with the Citi Escalation Policy.
• Ensure that the Business has a sound control environment including adherence to relevant policies where appropriate.
• Keep Management aware of the risk and control environment of the Business through continuous and open communication with Senior Management to present and follow-up on issues, concerns and corrective action plans.
• Responsible for maintaining knowledge of applicable regulations and ensuring that the various reviews are conducted in compliance with applicable laws, regulations, and internal procedures.
• Review and principal approval for life insurance and annuity transactions, including Replacement/Exchanges and NY State Regulation 60 transactions for completeness of forms, documentation of disclosures to clients, compliance with Firm policies, procedures, and processes.
• Evaluate proposed transaction and determine appropriateness of proposed transaction, including an analysis of any proposed exchange/replacement transaction, including complex exchanges.
• Verify information provided on transaction review forms by contacting the insurance companies, Financial Advisor or by referencing product materials.
• Determine whether a proposed transaction may proceed based on compliance with Firm policies & procedures, analysis of cost/benefit for the transaction and overall transaction suitability determination.
• Evaluate proposed transactions with Financial Advisors and Sales/Supervisory Management and advise them accordingly on appropriateness of proposed investment strategy for the client.
• Maintain accurate records and reporting of cases reviewed and their disposition.
• Responsible for staying informed of annuity and insurance product changes, closures, rate changes and evaluating impact on reviews.
• Responsible for maintaining an awareness of relevant investment products and services, communications with the public rules and regulations, as well as Firm processes and procedures.
• Responsible for maintaining records of approvals as required by regulators and in accordance with Firm policy.

Qualifications:

• Relevant 6-10 years of supervisory experience in the financial industry; compliance or other risk management experience helpful
• Knowledge of Bank and broker-dealer business, regulatory requirements and related policy.
• Ability to work independently, execute on agreed upon timelines and work under pressure
• Ability integrating and balancing diverse priorities
• Strong networking, influencing and negotiating skills
• Excellent written and verbal communication skills
• Strong organizational and time management skills
• Proactive and Resourceful
• Excellent communication skills (oral and written) in English. Bilingual language skills a plus
• Excellent interpersonal and diplomacy skills
• Ability to see the big picture with high attention to critical details
• Proficiency in MS Office (Word, Excel, PowerPoint, Outlook), Pershing NetX360, Actimize Surveillance, Salesforce and other related business applications preferred  
• Knowledge of FINRA, SEC and State Rules and Regulations
• Knowledge and expertise in investment product, with expertise in insurance and annuities (both domestic and offshore)
• Experience as a supervisor with a bank-based or independent brokerage model a plus
• US Registered FINRA Series 7, 63 (or 66), 24 (or 9/10)
• Group 1 Insurance required - a qualified candidate maybe considered if willing to obtain an Insurance License within 6 months of hire

Education:

• Bachelor’s/University degree, Master’s degree preferred

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

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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.

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