CGW Investments (CGWI) Regional Head of Risk and Controls - Director

Citi Global Wealth (CGW) is an integration of Citi Private Bank and the Consumer Wealth organization into a single platform enabling Citi to serve its clients across the wealth spectrum and capitalize on Citi’s industry leading capabilities to support the goal of CGW, which is to be the leading wealth management provider globally. As we embark on this journey, it is imperative to have a strong Risk & Control framework. The role is responsible for leading the development and implementation of a robust risk and control environment across CGW Investments. This includes leading efforts to identify, anticipate and mitigate operational, regulatory and reputational risks, while driving transformation efforts to simplify and modernize CGW Investments. This role will report to CGWI CAO, Global Head of Risk and Controls.

  Key Responsibilities:

• Strategic leadership in harmonizing, enhancing, and creating CGW Investments policies, standards, and procedures aligned with CGW Investments business activities.
• Responsibility for business impact assessment and mapping of regulatory changes to assessment units and controls to ensure compliance with applicable laws, rules, and regulations.
• Development of strong relationships with key stakeholders.
• Proactive engagement with control functions to ensure understanding of the CGW Investments governance program.
• Focus on continuous control improvements across all business lines to ensure continued improvement of the control framework in an efficient, cost effective, streamlined, and value-add manner.
• End-to-end Process Management - review and update of policies and unit procedures, as required
• Support the design and implementation of the MCA Framework defined for Citi.
• Oversee and manage teams dedicated for MCA enhancements ensuring all key activities are delivered on time
• Active participation in relevant forums to support initiatives relating to the enhancements of CGWI’s MCA Framework
• Partner with relevant Risk and Control leads and business management to ensure an effective MCA is in place for the business and proactively used as a tool to measure and manage risk.
• Support the actions relating to MCA as part of key regulatory commitments including tracking of deliverables and providing status updates for senior management reporting.
• Focus on continuous improvements of CGWI’s MCA framework.
• Manager’s Control Assessment (MCA) Oversight – ensure governance of testing and failed tests are documented and subsequent corrective action plan put in place
• Responsible for the oversight of the appropriate integration of Operational Losses and Issues into GRC.
• Assist with Internal Audit or Compliance queries in relation to CGW Global MCA/GRC Program.
• Build strong relationships with key stakeholders.
• Define and produce key risk indicators and control metrics to ensure strong governance and oversight Mapping of applicable regulations to controls, ensure data quality, reporting,
• Timely completion of Quarterly Risk Assessment and Annual Risk Assessment (ARA).
• Continuous review/ adoption of FX Consent Order related Market Conduct Risk Taxonomy (MCRTs)
• Subject Matter Expert in Designated Market Activities (DMA) related activities
• Develop and deliver key presentations, reporting, and communications on CGW Investments control environment for Business Risk committees / forums.
• Partner with relevant leads from CGW CAO to ensure an effective control reporting framework is in place for the business and proactively used as a tool to measure and manage risk.
• Lead coordination of Regulatory, Internal Audit and/or Compliance inquiries in relation to the CGW Investments Businesses.
• Ensure Businesses Operating Procedures, Plan of Supervisory Procedure, Volcker Mandates are approved and current
• Third Party Management on Outsourcing, Service support to Citi affiliates & Service Providers
• Oversight of Issue and Corrective Action Plan (CAP) coordination and execution of ‘Deep Dive’ Reviews
• Execute ORM Policy requirements including Error capture, escalation, reporting, reconciliation, approvals, Internal and External Lessons Learned and Scenario Analysis
• Ensure the group’s compliance with training requirements and mandatory absence

Qualifications and skills:

• 10-15 years of Financial Services and analytical / control work experience
• Strategic thinker with strong analytical skills and the ability to translate complex concepts in a concise manner
• Demonstrated leader capable of driving change
• Meaningful knowledge of the risk management framework, including risk identification, risk appetite and strategy, risk-related decisions, processes and controls, risk analytics and governance.
• Experience working horizontally across an organization and participating in enterprise-wide implementations of major policy and relevant risk programs.
• Broad understanding of relevant banking regulation and supervisory expectations for large complex financial institutions
• Well-developed listening skills and a strong ability to engage at the executive management level by providing proactive support and advice on a variety of risk matters.
• Excellent oral and written communication skills, and in particular ability to assess and contribute to the content of key risk and control reporting.
• Ability to lead by example, strong influential and interpersonal skills, used to deliver results and push the organization agenda in a complex environment
• Strong ability to engage at the senior management level and demonstrated communication experience at different levels of organization
• Ability to set priorities and manage multiple projects simultaneously in a fast paced, highly matrix, dynamic environment
• Self-motivated, highly adaptive, collaborative and able to work well under high stress
• Excellent oral and written communication skills
• Attention to Detail
• Project Management, Change Management, Problem Solving
• Relationship Building, ability to influence without authority
• High Ethical Standards, Risk Awareness
• Teamwork Skills
• Valuing Diversity:
  • Demonstrates an appreciation of a diverse workforce.
  • Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organizational success.

Education:

• Bachelor’s degree; experience in ORM, Risk and Control, Compliance or other control-related function in the financial services firm, regulatory organization, consulting firm, or a combination thereof; extensive experience in area of focus
• Advanced degree preferred

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