ORM REGIONAL OPERATIONAL RISK OFFICER - LATAM

Background

Operational Risk Management (ORM) is an enterprise level independent risk management function responsible for enterprise-wide oversight and aggregation of operational risk. Its mandate covers all business lines (PBWM, ICG, Global Functions & EO&T) spanning all geographies.

The ORM function oversees the design and implementation of the non-financial risk management framework. Key objectives of the risk management framework are:

Operating model, staffing and culture: Ensure the operating model across lines of defense is clear and consistent with sufficient resources, expertise, accountability and stature, and that it is enabled by structured training and awareness program to effectively manage and oversee operational risk Operational risk appetite: Clearly articulate risk definitions and appetite and make sure they are aligned against the most critical business outcomes to ensure strategic relevance and application at business, country and entity levels and that Citi operates within its set risk appetite Control objectives and standards: Ensure Enterprise Control Standard and controls design requirements are clearly articulated and implemented  and that control objectives and requirements are defined at appropriate risk category and sub-category levels to ensure consistent control design and effectiveness Operational risk and control assessments and reporting: Oversee that MCA is fit for purpose and is owned with full buy-in from the 1st line, and that it is supplemented by a suite of other fit-for-purpose assessments (e.g., risk category specific assessments, scenario analysis, lessons learned, targeted deep dives/peer reviews). Ensure assessment results are communicated through clear reporting with thematic and actionable insights Strategic decision making: 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

Key Responsibilities

The Regional Operational Risk Officer’s key responsibilities includes:

Drive implementation and maintenance of the operational risk management framework including: policies, standards, technology and tools, monitoring and governance for the businesses and Legal vehicles operating in the region.

Review and agree with 1LOD the Appetite or Tolerance levels for Operational Risk categories together with the key indicators and thresholds for warning and breach.

Manage the Ops Risk for the Region (including country/business/LV, as appropriate) to defined Risk Appetite or Tolerance levels. In case risk levels are in potential and/or actual breach of defined thresholds, ensure risk exposure is well understood and there is a robust Path to Green to avert/remediate breach within an acceptable time frame.

Review and confirm appropriateness of first line risk identification, assessments (i.e. KORs, MCA, scenario analyses, third party reviews) Where necessary, conduct independent second line risk assessments (e.g., reviewing control design and effectiveness of key processes, end to end deep dives of significant control breaks that impact multiple risk categories, lessons learned and near misses) and root cause assessments (e.g. reviewing themes of issues across businesses and regions) Create aggregated risk picture for the Region (including country/business/LV, as appropriate), using a combination of first line and independent second line assessments Evaluate the quality and execution of the Region (including country/business/LV, as appropriate) control design and effectiveness assessments and drive business efforts as needed to strengthen risk management, controls and other risk mitigation efforts. Escalate significant or unaddressed risk issues and control environment concerns to Region Region (including country/business/LV, as appropriate) and Risk Leadership Ensure appropriate skills and experience and capacity for managing non-financial risks within the Region (including country/business/LV, as appropriate). In partnership with the 1LOD Enterprise Risk and Control function, provide the Region (including country/business//LV, as appropriate) with operational risk guidance and advice through proactive engagement in strategic business initiatives / transactions and large remediation efforts.

Qualifications & 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 and services Citi offers 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 (e.g., business, functions) 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 regulatory engagement/ communication skills

Education, Knowledge, Experience and Qualifications:

• 15+ years of domain experience in the Institutional or Retail banking businesses with at least 5+ years in 2nd or 3rd line senior positions.

• Proven subject matter expertise in operational risk management including controls engineering

• Working knowledge of operational risk management frameworks in a global organization preferred

• Experienced in crisis management and turnaround situations

• Subject matter expertise in at least 2 of the L2s risk types

• Demonstrated success in managing risk policy/strategy

• Masters Degree/specialized training in risk management and/or engineering related fields highly preferred

• Spanish language proficiency a plus

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