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Operational Risk Officer - Global Consumer Operations - VP

Job Req ID 21359506 Primary Location New Castle, Delaware; Tampa, Florida Job Category Risk Management
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Provide risk management expertise in order to execute effective oversight of the Business’ risk identification, assessment, monitoring and mitigation processes.  “Business” in this context means the Global Consumer Operations and Fraud Prevention (GOFP) functions leveraged  by the P&L owners who own the Risk.  The Operational Risk Management (ORM) VP performs the role through proactive engagement with Business management and effective challenge in formal governance forums and day-to-day management processes.  Our objective is to ensure compliance with Citi’s Operational Risk Framework and related policies and procedures as well as to meet “Heightened Standards” expectations from our Regulators for the 2nd Line of Defense.  

The ORM VP will also assist with the development and enhancement of the Operational Risk Framework (as applicable) and coordinate with Regional ORM teams for resolution of issues and/or emerging risks that have global implications.

Reporting to the Consumer ORM Director for GOFP Function coverage, this position works closely with Business Managers, Product Managers, In-Business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Compliance, Legal, HR) in carrying out job responsibilities.


The primary focus of this role is oversight and challenge of specific GOFP Business processes and governance activities.  Specifically, oversight and challenge of risks and controls associated with all aspects of aforementioned Business function. Primary interfaces for GOFP coverage lead include:

  • GOFP Business and Risk teams, Operational Risk and Control (CBORC) managers
  • Consumer ORM Business Coverage teams for North America and other Regions (Asia and Mexico) to ensure consistent standards in oversight execution as well as lessons learned
  • ORM Foundation team who leverages Business Coverage ORM teams for expertise and escalation of issues
  • ORM ICRM, Governance, Audit and Regulatory Relations teams to ensure effective Business management and regulatory interactions and response
  • Global ORM MCA Team for expertise in framework requirements, policies and procedures and to provide proactive input into evolution of the same


Governance & Oversight

  • Foster and maintain strong working relationship with the Business as a valued and respected partner
  • Keep abreast of latest risk management techniques and industry best practices
  • Together with the Business and Functional coverage leads, establish an appropriate engagement model with the business to enable meaningful challenge and oversight
  • Assist business or functional coverage leads in preparing/presenting relevant materials at senior level governance forums such as Business Risk Reviews,  Business Risk Compliance and Control Committees and/or Operational Risk Forums as well as meetings with key stakeholders, such as Regulators, 3rd Line of Defense, and Senior Management
  • Ensure Business adherence to Operational Risk Policies (MCA, Lessons Learned, Scenario Analysis, Internal/External Loss reviews, KOR/KI challenge)
  • Execute against all challenge responsibilities articulated in the ORM Policy, including Operational Risk Reviews (ORR) on any significant or emerging risk areas
  • Ensure adherence to Consumer Operational Risk procedures; provide feedback for the continuous improvement of these procedures to strengthen 2nd line of defense oversight
  • Ensure the Business is leveraging required tools to manage operational risk and provide evidence of  MCA, KOR and KI process, Scenario Analysis and Loss Analysis results on a continuous basis.
  • Escalate operational risk events to ORM senior leaders as appropriate with relevant context and risk assessment
  • Analyze and report on systemic or thematic risks across GOFP to inform management of areas for improved monitoring

Risk Identification, Analysis & Assessment

The ORM VP leverages all of the core tools that are part of the ORM framework, Key Operational Risk Identification and Key Risk Indicator monitoring processes, Scenario Analysis, Manager’s Control Assessment Challenges, Internal and External Loss Analysis, and Operational Risk Reviews to provide effective oversight.  Risk identification, analysis and assessment of current and emerging issues also requires working with specialists in other lines of defense as relevant for individual risk types associated with the Business or product.

  • Identify trends or themes that indicate emerging operational risks by relying on mining trends in relevant metrics (including MCA, Compliance and IA results), loss data and external events
  • Proactively analyse various data sources to form an independent assessment/opinion of operational risks within the Business
  • Challenge the Business to establish robust leading and lagging key risk indicators that identify areas of operational risk exposure/emerging risks for mitigation
  • Continuously monitor Key Operational Risks and Key Indicators to ensure the Business is taking appropriate action to respond to and mitigate breaches
  • Participate in and/or lead risk reviews as well as ORM Framework assessments to proactively identify risks in the Business and develop specific recommended actions
  • Identify changes in Business strategy or relevant regulations that may lead to an increase in Operational Risk
  • Analyze issues and loss events to understand how losses were incurred,  identify root causes, assess linkage to MCA, and determine if a lessons learned is applicable
  • Effectively communicate learnings to Business leaders to drive necessary responses and action
  • Support Scenario Analysis efforts where required for GOFP

Risk Approvals

  • Assist in the review of ORM Policy / Consumer ORM exception requests and make recommendations prior to approval by designated ORM Director

Risk Mitigation

  • Evaluate control related issues and ensure the Business has properly identified and documented the root cause and that corrective action plans are completed timely
  • Assess the adequacy and effectiveness of first line identification of root causes to prevent repeat issues and/or operational risk events


Knowledge /Experience

  • Bachelor’s Degree in Business, Finance, Accountancy, Law, or related experience
  • Work experience of 7+ years in the financial services industry in a risk related field, such as Operational Risk Management, Compliance, Audit, Control, Business Risk
  • In depth knowledge of Consumer banking products and Operations Businesses. Knowledge of Retail and Core Banking Operations is a plus
  • Working knowledge of US Consumer Protection related regulations and industry standards
  • Experience working in complex and rapidly changing Businesses
  • Ability to synthesize complex issues/root causes into plain language that can be more readily addressed
  • Experience with the Managers Control Framework (also known as RCSA) a plus.
  • CRCM or other risk related certifications a plus


  • Strong analytical and conceptual skills.
  • Ability to work independently and perform credible challenge of a Business
  • Effective team player and contributor in dynamic and shifting teams
  • Excellent communication and interpersonal skills
  • Ability to work collaboratively within and across functions and Lines of Defense


  • Proficient in MS Office applications necessary for executing job responsibilities (Excel and PowerPoint)
  • Excellent data / quantitative analysis skills
  • Strong presentation skills (ability to draft and present to senior audience)


Job Family Group:

Risk Management


Job Family:

Operational Risk


Time Type:

Full time


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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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