Services Financial Crimes and Fraud Risk Director

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Job Overview

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your skills in analysis, problem solving and communication to Citi’s Services team.

By Joining Citi, you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Team/Role Overview:

Serving clients in 95 countries, Services provides integrated payments and collections, liquidity management, short term financing and trade financing, Investor Services (including Custody, Fund Services and Execution Services) and Issuer Services solutions to multinational corporations, financial institutions, public sector organizations and increasingly mid-sized corporate clients with global needs. These services are supported by our extensive on-the-ground local market expertise, innovative technologies, customized data solutions and a wide range of solutions that can be tailored to meet clients’ needs.

The Financial Crime and Reputational risk team are responsible for ensuring proactive, effective, and sustainable risk management within the Services business which is one of Citi’s five interconnected businesses lines.

The Services Financial Crimes and Fraud Risk Director is a first line role responsible for supporting the Services businesses in managing and mitigating financial crime, and specifically fraud risk end-to-end. This role will work with the global and regional Products, Business Risk, Operations, Technology and Compliance teams to identify and assess emerging risks to ultimately ensure there is an adequate control infrastructure in place to manage fraud risk in an effective manner. The role holder will ensure adequate mapping and ongoing assessment of existing controls, focusing on their effectiveness, as well as their adherence to existing global and local policies, and to applicable regulation.  

The role will assist the prompt identification of control issues, conduct root cause assessment, sustainable and robust issue resolution and appropriate escalation. The individual will also work with counterparts across other Citi lines of business to respond to immediate threats, share control best practices, emerging risks and support management of financial crime and other regulatory risks holistically across the firm.

The role requires a broad and comprehensive understanding of fraud as it manifests in the products offered by Services.  Requires solid conceptual/practical grounding in risk management, compliance, and operational controls, together with industry and peer best practices. 

Key objectives of the Services fraud risk management framework:

Ensure the operating model within Services is clear and consistent with sufficient expertise and accountability, and that it is enabled by structured training and awareness program to effectively manage and oversee fraud risk

Services risk appetite is clearly articulated and aligned to business outcomes to ensure strategic relevance and application at product and country levels and that Services operates within its set risk appetite

Ensure Services’ controls standard and design requirements are clearly articulated, and that control objectives and requirements are defined at appropriate risk category and sub-category levels to ensure consistent control design and effectiveness

Oversee that Management Control Self- Assessment (MCA) is fit for purpose and that it is supplemented by a suite of other fit-for-purpose assessments (e.g., risk category specific assessments, scenario analysis, and lessons learned), ensuring assessment results are communicated through clear reporting with thematic and actionable insights

Oversee that Risk Management practices, insights and tools are consistently embedded in day-to-day business processes and strategic decision-making to enable proactive issue identification and comprehensive remediation

What you’ll do:

• Understand business-owned products, services, as well as corresponding fraud-related controls, and processes (e.g., customer, relationship, and transactional screening).
• Provide fraud compliance/risk management subject matter expertise to the Services businesses to ensure the design and implementation of a coherent and effective control environment.
• Support design and ongoing adaptations of the fraud control framework to ensure effective and robust risk management across Services.
• Drive execution ensuring compliance with applicable laws, rules, and regulations.
• Ensure adequate mapping of risk and processes and clear control ownership.
• Assess Risk Appetite potential and/or actual breaches, ensure risk exposure is well understood and there is a robust Path to Green to avert/remediate breach within an acceptable time frame.
• Create aggregated risk picture for fraud at Services level.
• Engage with 2nd line of defence fraud risk management, to ensure adequate coordination.
• Escalate significant or unaddressed risk issues and control environment concerns to the Services Financial Crimes RCF and BRCC.
• Support the assessment, design and/or implementation of fraud risk tools across Services’ Products.
• Create & maintain a robust partnership with the business heads, operations, technology and the second line of defence.
• Ensure early engagement on new business initiatives to provide timely support of commercial priorities and full adherence to global and regional risk management policies and procedures.
• Conduct reviews of control processes and procedures to ensure that both controls and processes are in keeping with policy and business expectations.
• Assure that controls have been implemented consistently, with appropriate supporting documentation.
• Serve as an escalation point to ensure adequate and timely response to fraud events.
• Work with other Control and in-business risk teams to ensure a consistent holistic approach to fraud risk management.
• Help identify opportunities for streamlining processes and implement efficiencies that will lead to enhanced client experience while ensuring effective fraud risk management
• Support the timely response to regulatory inquiries.

What we’ll need from you:

• Significant direct experience as a senior risk professional in a large financial services organization with responsibility for managing fraud risks and related operational processes.
• Established Fraud subject matter expertise with deep understanding of External Fraud, Internal Fraud, & First Party Fraud and ability to work with other financial crime disciplines.
• Proven subject matter expertise in risk management including process and controls engineering.
• Strong working knowledge of operational risk management frameworks in a global organization.
• Experienced in crisis management and turnaround situations.
• Strong professional experience in Financial Services, in Financial Crime and/or Compliance or Business/Product Operations and/or Risk & Controls.
• Excellent interpersonal skills.
• Able to work independently and deliver according to strict timelines and quality standards.
• Excellent oral and written communications skills; must be articulate and persuasive with the judgement and authority to provide insightful commentary to senior stakeholders.
• Able to drive change to business practices by working effectively across a global organization.
• Proven people and team management skills.
• Project management and change capabilities are essential.
• Self-sufficient, capable of prioritizing and multi-tasking in a dynamic, fast paced environment.
• Demonstrated analytical skills with follow-up and problem-solving capability.
• Bachelor’s/University degree or equivalent required; master’s degree desirable.

Management and Leadership Characteristics:

• Broad experience in risk management including a successful track record of managing large complex enterprise-wide risk management programs at a large financial services organization.
• Business understanding of the products offered by Service and how risk management practices contribute to other work across Citi / understand downstream impacts of decisions made.
• Track record of managing internal relationships and partnering with a range of stakeholders in leading sustained change and change management efforts.
• Ability to create and articulate sense of purpose and common vision for Risk management.
• Well-developed listening skills and a strong ability to communicate and engage at the senior management level, both orally and in writing.
• Strong leadership skills with a proven track record of working with a diverse range of skill sets and perspectives, recognizing that the power of Citi is the sum of its parts.
• Ability to constructively challenge others at all levels and across boundaries to deliver better results.
• Continuous improvement mind-set to solve for root causes, assess impact of actions and adjust as needed; simplify and standardize at every opportunity.
• Strong communication skills.

What we can offer you:

We work hard to have a positive financial and social impact on the communities we serve. In turn, we put our employees first and provide the best-in-class benefits they need to be well, live well and save well.

By joining Citi London, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as: 

• Generous holiday allowance starting at 27 days plus bank holidays; increasing with tenure
• A discretional annual performance related bonus 
• Private medical insurance packages to suit your personal circumstances
• Employee Assistance Program  
• Pension Plan 
• Paid Parental Leave 
• Special discounts for employees, family, and friends 
• Access to an array of learning and development resources 

Alongside these benefits Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self every day.  We want the best talent around the world to be energized to join us, motivated to stay, and empowered to thrive. 

Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.

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Job Family Group:

Risk Management

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Job Family:

Enterprise Risk

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Time Type:

Full time

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Most Relevant Skills

Analytical Thinking, Business Acumen, Constructive Debate, Escalation Management, Issue Management, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment, Stakeholder Management.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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