VP USPB ORM Framework & Reporting Analyst (Hybrid)

Citi is a leading global bank with approximately 200 million customer accounts who does business in over 100 countries and jurisdictions worldwide. Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments, and accessing the capital markets on behalf of our clients.

In this role, Operational Framework & Reporting Analyst Officer will support the U.S. Personal Banking & Wealth Management in monitoring adherence to ORM Framework Policy and Standards including but not limited to New Activities Policy and Standards and overall Risk Management and Operational Risk Management Framework.

The candidate will partner with USPB ORM Framework team across key elements including but not limited to Product Risk, New Activity, Line of Defense Assessment, Key Risk Indicators, Risk Appetite Assessment to analyze, measure, track, and report on operational risk metrics and indicators. Accountable for developing and communicating thematic conclusions related to unmitigated operational risks (outside of risk appetite) and drivers of potential risk events and operational losses. The ideal candidate will have a demonstrated ability to learn quickly, navigate ambiguity, and manage their work independently.

Reporting to the 2nd Line Independent Senior Operational Risk Officer (ISORM) who has responsibility for oversight of U.S. Personal Banking Framework, this position works closely with 1st Line of Defense including, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Enterprise Risk Management, Compliance, Legal) in carrying out job responsibilities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background, and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

KEY RESPONSIBILITIES

Risk Identification, Analysis & Assessment

The Operational Risk Officer leverages all the core tools that are part of the ORM framework viz., the Material Risk Inventory (MRI), Key Risk Indicators monitoring process, Scenario Analysis, Manager’s Control Assessment Challenge (RCSA), Internal and External Loss Analysis as well as Independent Risk Reviews to provide effective oversight and challenge of first line of defense. Risk identification, analysis and assessment of current and emerging issues may also require collaborating with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product. Specifically, the role will require the Risk Officer to:

• Proactively analyze various data sources to form an independent assessment/opinion of operational risk with prompt and effective escalation to business leadership.
• Assess and monitor external Third-Party suppliers risk taking – including those which provide technology solutions.
• Identify emerging operational risks by relying on monitoring of trends and mining of relevant metrics including business self-assessment, Internal Audit reviews, Regulatory exams, internal and external loss data.
• Support Operational Risk Reviews as well as Risk and Control framework assessments to proactively identify significant risks in the Business and develop specific recommendations for the Business to action.
• Monitor and identify changes in business strategy or relevant regulations that may lead to an increase in Operational Risk
• Analyze horizontal Lessons Learned reports completed by the business to ensure that evidence of risk mitigation is evident where action is required.
• Support broader US Personal Banking Scenario Analysis assessment efforts where there are active and open scenarios within the coverage remit which require monitoring.

Risk Mitigation

• Challenge business proposed solutions to root causes of Operational Risk Events or control failures.
• Assess business changes where improvements are required to strengthen risk identification tools.
• Work as an independent partner to ensure that the business controls mitigate risk and propose improvements to controls and/or monitoring proactively to prevent operational losses.
• Challenge business level Issues and Corrective Action Plans to ensure adequate severity level setting, reasonable target dates and effective corrective action plans.

Oversight & Challenge

• Foster strong working relationships with business stakeholders in support of establishing rapport and being viewed as a trusted risk resource/ advisor while maintaining and protecting the integrity of an independent, second line of defense coverage model.
• Keep abreast of latest operational risk management techniques, industry best practices and trends using an anticipatory lens.
• Lead the creation and development of risk and control related presentation materials for various governance forums (at many levels of the organization, including Internal Audit and External Regulators)
• Ensure business adherence to operational risk policies, standards, and procedures.
• Understand key or material risks which align with U.S. Personal Banking Products to ensure that the Business is operating within Risk Appetite by leveraging resources and tools to draw accurate and sound conclusions for escalation to business.
• Escalate operational risk events within the Business and within ORM as appropriate with thoughtful approach and insights based on use of data.

Qualifications:

Education

• Bachelor’s degree in business, Finance, or another relevant field preferred

Knowledge/Experience

• Work experience of 7+ years in the financial services industry with deep knowledge of Operational Risk Management, Risk & Control
• Creation, deployment and managing of Operational risk analysis and reporting.
• Well versed in breaking down complex issues   and challenging root causes that can be more readily addressed and effectively remediated.
• Foundational knowledge of business self-assessment processes (RCSA/MCA) viz. bottoms up risk assessment program experience.

Competencies

• Risk & Control knowledge across Operational Risks including but not limited to Processing, Third Party, Data, Technology, Reporting and Model Risk.

• Superior writing skills in support of high-quality risk summaries which inform presentations that feed into Operational Risk Reviews, Regulatory updates, or Governance forums.
• Outstanding communication and influencing skills through all levels of the organization and with external partners and vendors. Exceptional relationship management skills; must be able to address and resolve conflict while maintaining relationships.
• Ability to lead credible challenge and effectively influence and convince business to improve Controls where gaps are identified.
• Effective partner with demonstrated ability to work collaboratively across different teams, functions, and Lines of Defense.
• Detailed oriented with analytical skills, as the role requires a large amount of data manipulation and presentation/story telling.
• Demonstrated ability to prioritize, drive and manage multiple initiatives in parallel with compressed time limits.
• Exceptional organizational, communication and presentation skills.
• Proficient in MS Office applications necessary for executing on job responsibilities – especially PowerPoint and Excel.

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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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Anticipated Posting Close Date:

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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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