SVP, Operational Risk Sr Officer I

Reporting to the 2nd Line Operational Risk Senior Group Manager, who has responsibility for oversight of US Personal Banking (USPB) Operations. Chief Operating Office (COO) and Customer Experience coverage, 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 in fulfilling job responsibilities.

The Operational Risk Senior Officer is responsible for leading effective oversight and independent challenge of Citi’s US Personal Banking Customer Service and Credit Operations functions to ensure that the first line of defense can demonstrate effective Risk Management disciplines which includes strong operational risk identification, controls, and monitoring.  This role is expected to independently evaluate key data elements which inform the risk profile of the first line of defense and provide insights specific to trends, themes, control failures or Operational Loss Event drivers in support of continuous monitoring and oversight of the product, function and impacting external third-party suppliers. The Operational Risk Senior Officer performs the role through proactive and direct engagement with 1st line business partners through daily interaction, independent assurance, and participation in key business risk and control forums

Individuals in Operational Risk establish and manage operational risk policies, propose strategies, and governance processes designed to minimize losses from inadequate controls, fraud, and potential bankruptcy. This includes supervision over technology operational risk, cyber risk, and fraud risk. These individuals are also responsible for the development of tools and infrastructure that support fraud monitoring and prevention, using advanced analytical and statistical skills to identify policy gaps and recommend changes to current policies. This role is crucial to the company as it fortifies against potential operational risks, thereby protecting the company's financial stability and reputation, and contributing towards the overall business resilience and success.

Business Coverage Scope

The scope of this role is specific to US Personal Banking Collections and Recovery Operations. Prime interfaces include but are not limited to:

• 1st line business process/risk owners
• USPB Head of Customer Service & Credit Operations
• USPB Operations In-Business Risk and Control Heads
• USPB ORM Head
• ORM Independent Senior Operational Risk Manager (ISORM) business coverage leads for other US Businesses and Functions
• Other ORM Executive Leadership Team(s) – Foundational Programs or Policy Teams
• USPB Compliance Officers • USPB Senior Operational Risk Managers
• Enterprise ORM Risk Category SMEs (e.g., Fraud, Tech & Cyber, Data Management, Model, Third Party Risk).

Responsibilities: 

• Oversee the application of operational risk policies, technology, tools, and governance processes to create solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.
• Design and oversee the implementation of effective control measures to mitigate identified risks.
• Independently assess operational risks in the business to ensure it is within the acceptable risk appetite.
• Review and challenge the effectiveness of risk mitigation strategies and control measures implemented by the 1st line of defense.
• Build and maintain effective relationships with Business Partners, establishing credibility by understanding the business, their needs, strategic priorities, and challenges.
• Provide strategic risk advisory and support to the business and other stakeholders, guiding in decision-making processes.
• Partner with key stakeholders across the firm to drive operational risk strategy in alignment with organizational objectives and risk appetite.
• Support internal and external audits and regulatory examinations, as applicable.
• Promote a culture of risk awareness, connectivity across ORM and accountability in the business, escalating risks as appropriate.
• Report significant risk issues and breaches to executive management.
• Partner with Sr. management on the reporting and presentation of operational risk status, trends, and key developments to the board, regulators, and other key stakeholders, as applicable.
• Is an enthusiastic and early adopter of change; takes ownership for helping others see a better future and stay positive during uncertainty.
• Demonstrates and inspires curiosity in seeking new ways to overcome challenges; actively applies learning from failures.

• Challenges self and others to seek out and communicate alternative views even when unpopular; welcomes diverse ideas to improve outcomes.
• Acts as a change catalyst by identifying and helping others see where new ideas could benefit the organization.
• Proactively seeks to understand and act in alignment with organizational decisions; helps others prioritize team and enterprise success over their own personal agenda
• Focuses on highest-priority work aligned to business goals; helps others effectively manage competing priorities.
• Proactively identifies opportunities to streamline work; creates process improvements that enhance efficiency for self and the team.
• Takes personal accountability for escalating, identifying, and managing potential risk; implements controls that enhance the client experience and operational effectiveness.
• Anticipates problems and proactively identifies solutions that address the root causes and result in meaningful improvements.
• Sets high expectations and invests the necessary effort to deliver excellence and exceed performance goals.
• Role-models and helps others to do the right thing for clients and Citi in all situations, even when difficult
• Engages key stakeholders early and often and actively looks for opportunities to improve collaboration in achieving common goals.
• Proactively seeks out opportunities to volunteer in Citi programs that support the community; advocates for solutions that meet the needs of Citi’s clients and the community.
• Enthusiastically promotes the unique needs and preferences of colleagues; makes active commitment to help colleagues achieve balance, well-being, and development.
• Leverages varied networks to recruit diverse talent; advocates for colleagues with diverse skillsets, styles, and experiences to gain career opportunities.
• Empathetically listens and understands others’ positions before acting on issues; works to amplify voices that are minimized in the workplace
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards

Qualifications: 

• 10+ years of experience
• Robust understanding of operational risk management frameworks, industry standards, regulatory requirements, and risk mitigation practices.
• Demonstrated leadership in coordinating with business units and senior management to address operational risk issues and implement solutions.
• Demonstrated track record of effectively assessing and managing competing priorities.
• Experience interacting with Regulators and Internal Audit.
• Previous experience working on complex firm-wide projects or processes.
• Effective leadership ability to credibly challenge and influence stakeholders.
• Comfortable in dynamic environments, capable of adapting to change while maintaining focus on risk management objectives.
• Ability to think strategically and align operational risk management with organizational goals and regulatory obligations.
• Excellent communication skills, with the ability to interact effectively at all levels, develop strong partnerships across the organization, and present complex information clearly to senior management and stakeholders.
• Compelling leadership qualities with ability to credibly challenge the 1st line and influence stakeholders
• Effective stakeholder management skills, with the ability to understand drivers and overcome barriers.
• Dynamic negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views.
• Robust analytical problem-solving abilities and a high level of integrity to deal with highly confidential data.

Education: 

Bachelor's/University degree, Advanced degree preferred

Knowledge /Experience

Work experience of 10+ years in the financial services industry with in-depth knowledge of Consumer Operations processes, including: Revolving and Installment Products, Call Center, Collections, Loss Mitigation, and Third-Party Oversight – specifically outsourcing risks. Additionally:

• Minimum of 5 years prior experience in Risk Management (Operational or Credit) preferably in the 2nd line of defense.
• Strong understanding of US Consumer product regulations, obligations, and requirements
• Expertise and experience with business risk and control self-assessment processes (RCSA)
• Direct engagement with and routine presentation to Internal Audit function and Regulators  

Risk Management Skills

• Independent thought leader with focus on key operational risks which are most impactful to Consumer Collections and Recovery Operations.
• Well-versed in breaking down complex matters into core issues and root causes that can be more readily addressed including insightful analysis of relevant objective data
• Ability to identify and prioritize high impact risk issues promptly with senior leaders Well versed in developing innovative ideas and improving current processes to create improved effectiveness and/or efficiencies
• Ability to successfully influence without direct authority across businesses and functions
• Clear understanding and ability to articulate the processes supporting a business unit’s function, controls, issues, and risks associated with the operations to identify gaps and proactively help deliver ideas for solutions  

Client Relationships/Business Partnerships

• History of establishing an effective voice at the table of the senior most Business leaders to function as a valued and respected independent risk partner
• Adaptable to change and can navigate organizational complexity; demonstrates organizational savvy and intuition
• Effective collaborator and contributor in dynamic and shifting teams as well as virtual ones.

Leadership

• 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
• Effectively influences and engages with business and functional managers to mitigate risks  
• Thinks strategically and articulates concepts clearly considering all relevant and most viable options
• Effective planning and organization skills to ensure that individual and/or team priorities are delivered timely and are high quality
• Supports and willing to assist other priority areas across Consumer ORM coverage 
• Makes well-reasoned decisions under pressure 
• Open to others’ ideas or opinions and has the maturity to own mistakes to support lessons learned for future growth
• Continuously evaluates organizational design and optimizes to meet ORM needs, business objectives as well as people development
• Develops bench strength and recruits top talent in support of building high performing team

Competencies

• Exceptional organizational, communication and presentation skills with ability to operate in fast-paced operating environment.
• Ability to produce and deliver high quality presentations to business leaders and/or Regulators Superior writing skills in support of high-quality risk summaries which inform risk assessments and Regulatory updates, or Senior level Governance forums
• Expert proficiency MS Office applications – specifically 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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