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Senior Operational Risk Director – Consumer Operations

Locations: Irving, Texas Job Function: Operations Employee Status: Regular Job ID: 19143451


Operational Risk Management is an independent function whose mission is to reduce operational losses in the firm through preventive actions and solutions to effectively manage and mitigate significant operational risks and vulnerabilities. At enterprise level the function is responsible for the implementation of an operational risk management framework that sets out enterprise level governance, policies and practices to proactively identify, assess, measure and report on, mitigate and control operational risk exposures associated with Citi’s businesses and operations at all levels of the organization.

ORM accomplishes its mission by:

  • Independently assessing risk, challenging both our historical and proposed practices and working as independent partners with businesses to improve processes; 
  • Establishing and overseeing the application of operational risk policies, technology and tools, and governance processes;
  • Monitoring and assessing the effectiveness of risk mitigation tools including internal controls;
  • Maintaining an enterprise-wide assessment of the most significant, current, and emerging operational risks to business activities, and ensuring appropriate actions are in place to mitigate these risks;
  • Identifying, assessing, anticipating, measuring, reporting and mitigating Citi’s operational risk exposure;
  • Determining operational risk capital requirements and allocations; and
  • As needed, driving projects aimed at strengthening controls to enable better decision making about products and service offers. 


Provide segment and function specific expertise in order to execute effective oversight of the Business’ risk identification, assessment, monitoring and mitigation process.  “Business” in this context means Operations functions and vendors supporting or used by the P&L owners who own the Risk. The Operational Risk Manager performs the role through proactive engagement with the Business management, and through effective challenge - in formal governance forums and in day-to-day management processes.  The objective is to ensure compliance with Citi’s Operational Risk Framework and policies as well as to meet “Heightened Standards” from Regulators for the 2nd Line of Defense.  

Independent Senior Operational Risk Managers also assist with the development and enhancement of the Operational Risk Framework and coordinate with Regional ORM teams for resolution of issues and/or emerging risks that have global implications.

Reporting to a direct of Global Head of Consumer ORM, Business / Function Coverage Independent SORMs work closely with Business Heads, Product Managers, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Compliance, Legal, HR) in carrying out job responsibilities.


The primary focus of this role is oversight of Global Consumer Operations function at a strategic level. This role will be the primary Consumer ORM interface with the Global Head of Operations for GCB  (a Direct Report to the GCB CEO) and the relevant Global in-Business SORM, and will represent Consumer ORM in any global initiatives or issues in the Consumer Ops area. Other responsibilities may be assigned to the role by the Global Head of Consumer ORM or their direct as needed.

Prime interfaces for Independent Senior Operational Risk Manager – Consumer Operations:

  • Global Consumer Operations Head who is a Direct Report to the CEO of GCB.
  • Direct Reports of the Consumer CRO – particularly Collections and Credit Operations Function Specialist- and other Control Functions seniors to leverage their expertise.
  • Central enterprise level ORM Foundation team that reports to Citi ORM Head. 
  • ORM 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.
  • Consumer ORM Framework and Risk Cycle Management team for expertise in framework requirements, policies and procedures.
  • Other Consumer ORM Business Coverage teams for North America and for Managed Segment coverage to ensure consistent standards in oversight execution as well as transfer of lessons learnt.


Governance & Oversight

  • Meet with Function leadership on a regular basis and build stature and strong relationships as a valued and respected partner.
  • Represent Consumer ORM and drive ORM agenda at senior level governance forums such as BRCCs and other Business Review forums as well as senior management meetings with Regulators or IA.
  • Work with Business to define and implement “Getting to Strong” and meeting Heightened Regulatory Standards.
  • Ensure business adherence to operational risk policies and standards.
  • Execute responsibilities articulated in the ORM Policy for independent operational risk managers
  • Ensure adherence to Consumer Op Risk procedures for independent Business coverage risk managers and for the Business. Contribute to the continuous improvement of these procedures to strengthen 2nd line of defense oversight.
  • Ensure linkage of all tools or parts of the ORM framework used for management of Operational Risk and ensure tangible evidence across 1st and 2nd line risk management of the continuous feedback loop across MCA, KOR and KRCI process, Scenario Analysis and Loss Analysis.
  • Work with Business in defining key risk indicators and setting thresholds for review or action that are informed by its risk appetite for different risk types.
  • Escalate operational risk events to the Head of Consumer ORM and directs as appropriate - with relevant context and risk assessment
  • Facilitate adherence to Op Risk specific regulatory requirements

Risk Identification Analysis & Assessment

The Operational Risk Manager leverages all the core tools that are part of the ORM framework viz., the Key Operational Risk Identification and Key Risk Indicator monitoring process, Scenario Analysis, Manager’s Control Assessment and Ratings Challenges, Internal and External Loss Analysis as well as Risk Reviews 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 as relevant for individual risk types associated with the business or product.

  • Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics, loss data and external events. Effectively communicate learnings to Business in order to drive necessary responses and action.
  • Proactively analyze various data sources to form an independent assessment/opinion of op risk.
  • Take the lead in developing and implementing (latter with the Risk Analysis unit) the data mining and conceptual approaches necessary to establish robust leading indicators and metrics to identify areas of potential OR exposure and emerging risk to enhance loss anticipation and mitigation. For specific risk types engage the relevant specialists from the 2nd line to develop leading risk indicators.
  • Continuously monitor Key Operational Risks and related Key Risk Indicators and ensure the Business is taking appropriate action to respond to breaches.
  • Leverage knowledge of the current economic, regulatory and Business environment to proactively identify potential risk and develop specific recommendations for the Business to action.
  • Identify changes in business strategy, market conditions, industry trends, regulatory environment, macro-economic factors  etc. that may lead to an increase in Op Risk
  • Use risk analysis to understand how losses were incurred, determine lessons learned, identify root causes  and use in developing recommendations for risk mitigation

Risk Mitigation

  • Lead Operational Risk Reviews in Operations areas as relevant coordinating with other ORM teams as necessary
  • Drive solutions to root causes that potentially can lead to op risk
  • Develop actions or, as appropriate, projects to apply lessons learned and share across relevant geographies/managed segments.   Coordinate with ORM colleagues to determine applicability on a global basis.
  • Work as an independent partner to mitigate risk and improve processes and controls to take action before risks materialize into op losses.
  • Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans.

Ongoing Business Monitoring Activities

  • For those areas where potential risk has been assessed to have increased or is high, or there has been a significant recent loss, determine if a deep dive and/or specific review is required.
  • Continuously monitor and review relevant data, reports, and trends to develop and maintain an Operational Risk profile assessments for the Business.
  • Review op losses (including external / industry events) and MCA results (execution quality and ratings) quarterly
  • Stay informed and current on news related to financial markets/industry, segment, region, country as relevant. Consider the potential impact from an op risk perspective to reevaluate the risk profile of the coverage area


Knowledge / Experience

  • Work experience of 10+ years in the financial services industry with in depth knowledge of Retail Consumer products and operations across products. Knowledge of core banking operations is a plus. 
  • Expertise in working with complex and rapidly changing, technology enabled businesses with a strong understanding of associated risks, cyber threats and risks of reliance on third parties.
  • Leadership positions in high volume Business Operations, Risk Management, IA, Compliance or related fields with experience of interfacing with senior management
  • Good knowledge of US Consumer product related regulations and industry standards including infrastructure requirements and related controls


  • Bachelors or Master’s degree in Business, Finance, Law, Engineering or Science disciplines.
  • Experience / knowledge of data base or MIS management tools a plus


Risk relevant skills 

  • Strong analytical and conceptual skills applicable across Consumer businesses, products and customer classes.  
  • Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed. 
  • Able to prioritize high impact potential problems effectively.
  • Innovative and independent thought leader.  Well versed in developing new ideas and improving current processes.
  • Ability to successfully influence without authority across functions and geographies. 
  • Consider broad implications of decisions on different functions and units.
  • Can clearly articulate the processes supporting a business unit’s function, controls,  issues and risks associated with the operations and IT infrastructure; can identify gaps and proactively help develop solutions.  

Client Relationships/Business Partnerships

  • Establishes an effective voice at the table of the senior most Business leaders to function as a valued and respected independent risk partner. 
  • Navigates organizational complexity; demonstrates organizational savvy.
  • Builds partnerships across Business seniors and in business control functions; collaborates well with others.   
  • Networks regularly and builds relationships across Risk disciplines.
  • Effective team player and contributor in dynamic and shifting teams as well as virtual ones.

Strong Leadership Skills:

  • Provides leadership in optimization and efficiencies in control practices for the business.
  • Fosters collaboration across businesses and across teams within ORM in the resolution of cross business issues. 
  • Engages business and functional managers to mitigate risks.   
  • Thinks strategically and articulates concepts clearly.
  • Plans and organizes very well to ensure individual and team efforts closely and efficiently tracked and delivered in a timely fashion.
  • Focuses and guides the priorities of others.  Makes well-reasoned decisions under pressure. 
  • Continuously evaluates organizational design and optimizes to meet business objectives as well as people development.
  • Sets high standards of performance for staff / team and conducts objective performance reviews
  • Develops bench strength and talent and builds high performing team

Excellent Communication Skills:

  • Both verbal and written – particularly well versed in executive level communication
  • Experienced in using active listening techniques on a consistent basis.
  • Strong Presentation skills – comfortable with public speaking across various forums and able to effectively and logically communicate when ideas are being challenged in an open forum.


  • Proficient in MS Office applications necessary for executing on job responsibilities
  • Excellent quantitative analysis skills with the ability to design and develop effective risk measurement indicators and concepts
  • Superior writing skills with the ability to direct and oversee development of high quality policy / procedure documentation


Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - US


Time Type :Full time


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