Assistant Vice President, Malaysia Regulatory Change Identification Lead (Hybrid)

Whether you’re at the start of your career or looking to discover your next adventure, your story begins here.  At Citi, you’ll have the opportunity to expand your skills and make a difference at one of the world’s most global banks.  We’re fully committed to supporting your growth and development from the start with extensive on-the-job training and exposure to senior leaders, as well as more traditional learning.  You’ll also have the chance to give back and make a positive impact where we live and work through volunteerism.

We’re currently looking for a high caliber professional to join our team as Assistant Vice President, Malaysia Regulatory Change Identification Lead (Hybrid) (Internal Job Title: Legal Support Officer - C12)based in Kuala Lumpur, Malaysia.  Being part of our team means that we’ll provide you with the resources to meet your unique needs, empower you to make healthy decision and manage your financial well-being to help plan for your future.  For instance:

• Citi provides programs and services for your physical and mental well-being including access to telehealth options, health advocates, confidential counseling and more. Coverage varies by country.
• Citi provides access to an array of learning and development resources to help broaden and deepen your skills and knowledge as your career progresses.

Role Summary:

The Regulatory Change Identification Lead (“ID Lead”) will serve as the primary responsible party for monitoring Regulatory Changes (“RCs”) issued by regulatory authorities as defined in Financial RM Scope in the RM Procedures. ID Leads will identify RCs through multiple channels including, but not limited to, monitoring websites, direct email notification from a regulator, and paper correspondence. Further, ID Leads will work with a third-party subscription service/vendor (via a law firm or aggregator services) to review the RCs identified by the vendor in the External Source Intake queue for assignment for applicability determinations. Responsible for updating content in the Financial Regulations Inventory (FRI) in accordance with minimum standards established in the program documentation

ID Leads provide an initial extra territorial regulation (ETR) designation, that is further confirmed by ETR Advisory.

Upon identification of a RC, ID Leads will create RC records. 

Key Activities include:

• Review LRRs identified by third-party horizon scanning vendors, subscription services and manual monitoring of assigned Regulatory Authorities to identify RCs.
• LRRs identified by third-party horizon scanning vendors are dispositioned as potentially applicable or not applicable
• ID Leads will perform manual identification of RCs when a third-party subscription service/vendor (e.g., CUBE) is not available. 
• Complete scope questions in Reg Intake in CR&C
  • If necessary, seek guidance within Legal or ICRM.
• Upon identification of an applicable RC, create and submit a Regulatory Change Identification Record in CR&C-RC.
• The record will include, but is not limited to, the name of the change, a summary of the change, jurisdiction, regulator, compliance date, GRC Risk Taxonomy, whether the Regulatory Change is an ETR, URL of the regulatory text from the official regulator source (pdf may only be used when an official regulator source URL cannot be found). The system calculates the risk tier based on certain data elements entered by the ID Lead.
• Timely execution of tasks in accordance with Metrics/KPIs due dates
• Where they are the task owner or co-owner, escalate to relevant senior management where these tasks are expected to be and/or are in 'Overdue' status, in accordance with established, Program-defined governance and escalation protocols.
• Modify and submit updates to existing Publication and Obligation data, where applicable, in the FRI resulting from a regulatory change or internal request.
• Create and submit new Publications and Obligations, where applicable, for new laws, rules and regulations resulting from a regulatory change.
• Ensure all modifications to the FRI meet the minimum standards for the Regulations Management program.
• Complete updates to the FRI in accordance with established key performance indicators (quality and timeliness)
• Support remediation projects and re-structure projects of the FRI content.

Knowledge

Minimum Criteria

• Subject matter expertise in known and emerging compliance risks, business products and services, and applicable laws, rules, and regulations.
• Ability to read and assess laws, rules and regulations, breaking them down into underlying obligations.
• Local Language skills is a must.
• Knowledge of Central Controls & MCA Program expectations and the Regulations Management end to end process including the CR&C system.

Skills & Training

• Ability to Identify new laws, rules, and regulations (per CUBE or manual process).
• Understand and Navigate through regulator system when new laws, rules, and regulations are filtered from the CUBE or manual process to proceed with validation research and review.
• Confirm the law, rule or regulation meets the scope of Citi’s Financial Regulation Management Program
• Navigate through the Citi Risk & Control (CR&C) tool to facilitate the regulatory change records and regulatory change summary. Ability to complete the information in the tool correctly (including category & risk taxonomy), and timely.
• Ability to assign the regulatory change record to the respective RCA units, where required, make an initial determination for extraterritorial impact.
• Navigate through the Citi Risk & Control system to write content based on tasks assigned within Workflow Step – Inventory Change.

GENERIC SKILLS

• Experience in reading laws, rules and regulations.
• Identity key components of the laws, rules, and regulations, such as the compliance date, risks, category, etc. to create an accurate record.

• Legal experience preferred.
• Strong legal interpretation and analytical skills.
• Strong oral and written communication skills.
• Ability to prepare plain English summaries of complex financial services laws and regulations.
• High comfort level with using technology and working within deadlines.
• Interest in financial services law and how regulatory developments impact Citi.
• Understanding of Citi’s global regulations management standards preferred

Working at Citi is far more than just a job. A career with us means joining a family of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.

Take the next step in your career, apply for this role at Citi today https://jobs.citi.com/dei

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