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Assistant Vice President - Third Party Risk Oversight Analyst

Job Req ID 23627246 Location(s) Mumbai, India Job Category Risk Management
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Third Party Risk Oversight (TPRO) is part of the USPB CAO Risk & Control organization, which supports Citi Enterprise by creating and implementing methodologies including process & procedures to measure, monitor and escalate Third Party related key operational and other risks.  USPB CAO Risk & Control is a First Line of Defense Control function that aids in the assessment of risk evaluation for Consumer Banking.  The Third-Party Risk oversight function is responsible to identify, assess, evaluate, monitor, and report the key operational risks for governing the risks associated with Citi’s use of and reliance upon third parties.

The individual in this role will report to the Senior Vice President of Third-Party Risk Oversight team in India and will specifically focus on ‘gap validation’ type efforts that enhance firm’s ability to proactively measure and manage Third Party Operational Risks.  This role requires an individual with a legal acumen, with strong understanding of Contract construct/ elements & MCA/ GRC framework, with a strong desire to work in a fast pace, dynamic function. 

Key Responsibility Overview:

The person in this role will be required to:

  • Perform QC validation for contractual obligations (requirements) mapping of high-risk tier contracts and material change contracts for USPB.
  • Possess good understanding of MCA/ GRC framework and knowledge of ARCM, EMP/SMP structure & monitoring is preferred.
  • Have sound understanding of contract constructs and should be able to identify & evaluate the key obligations (requirements) from contracts/ agreements for Third Parties and SLAs tracking.
  • Have analytical & legal mindset to perform gap analysis and validation exercise of key contractual obligations (requirements) for completed templates (received from Business Activity Owners) against key obligations (requirement) identified from agreements for relationships (Master Service Agreement, Statement of Work, Work orders, addendums, data sharing agreements, etc.)  to ensure the requirements and associated controls are accurately, correctly, and comprehensively covered in the submitted template.
  • Proactively work with Business Activity Owner (BAO) and related parties, as needed, to ensure that completed templates are received as per standard procedures (SOPs), Obligations (requirements) and associated controls are cited in the template and perform follow-ups, as needed, to ensure timelines of gap validation exercise.
  • Actively partner with Business Control Heads (BCHs) and their teams to ensure controls are mapped for the contractual obligations.
  • Act as a lead to evaluate, document, and escalate potential gaps/ findings arising of gap validation exercise and ensure those gaps/ findings are covered & actioned up on as part of Corrective action plan (CAP) and remediation efforts, when applicable.
  • Partner with other key stakeholders to monitor material changes in contract terms, language, and obligations (requirements) to ensure that gap validation exercise is performed against the latest contractual obligations (requirements) as may be required
  • Create MIS, dashboard reporting to Senior Management team on a regular basis including reporting of gap validation results as part of MCA monitoring program (to ensure that USPB level results are consolidated, and controls are working as designed).
  • Support Third Party Risk Oversight Onsite Review activities.
  • Perform any other activities needed to support the needs of TPRO and / or Citi as may be needed by Management.

Additional Responsibilities Include:

  • Gain thorough knowledge and understanding of Citi Third Party Risk Management program requirements.
  • As appropriate, interact with larger TPO community, BAOs, BCHs and/or ESC category leads for sharing of best practices and coordination of services.
  • Draft and present succinct executive briefs; prepare and present high-level metrics to applicable Citi senior management and stakeholders when needed.
  • 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 others and create accountability with those who fail to maintain these standards.
  • Validate remediation of issues or gaps identified as part of ongoing monitoring.
  • Perform quality validation check, implement lessons learnt framework (taking into consideration observations, recommendations, peer review findings, CAPs etc.) for Onsite reviews (Onshore + Offshore) to further strengthen TPRO overall review process.

Job Skills/Qualifications

  • 8+ years of relevant experience in Legal, Contract Risk management, Third Party risk management and/or regulatory compliance in one or more of the following risk disciplines: Contractual risk, operational risk, supplier risk, or audit and controls. Broad knowledge of other risk areas, with strong understanding of supplier or third-party risk impact in a financial services company is a plus.
  • Demonstrates knowledge of in-scope business and product areas.
  • Excellent communication skills in English, both oral and written, with the ability to articulate complex and sensitive issues to management. Local language requirements as applicable.
  • To organize and prioritize multiple deliverables while working with minimal supervision in a large, global corporate environment.

Education:  Minimum Bachelor’s Degree and/or commensurate Experience, CA/CS/LLB/ LLM degree would be preferred.


Job Family Group:

Risk Management


Job Family:

Operational Risk


Time Type:

Full time


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