Markets and Securities Services Global Head of Sanction In-Business Risk and Control (Director/C15) New York, NY
The goal of the Markets and Securities Services Business Risk & Control function is to help establish and maintain a robust control environment and culture across Citi Markets and Securities Services businesses worldwide. Developing a proactive control approach assists management in achieving strategic objectives, promotes efficiency, reduces the risk of loss, and helps ensure compliance with corporate policies, procedures, laws, and regulations. In addition, properly functioning internal controls enable management to deal with today’s rapidly changing environment and prepare for future growth.
The Markets and Securities Services Risk & Control Financial Crimes team is looking for a highly energized, dynamic professional who is ready to join a fast-paced, world leader in the financial services industry. The successful candidate will oversee the global in-business risk and control function focused on Sanctions risk for the Markets and Securities Services businesses.
The incumbent will manage a team in New York and Tampa and oversee a regional network of individuals who support the global Sanctions risk management functions. This individual will work across a broad range of stakeholders including Sales and Trading, Business Management, Operations, Technology, Compliance, Internal Audit and Legal.
In order to support the business in meeting their Sanctions risk management obligations, this role is responsible for:
- Effectively managing Sanctions risk. Communicating and supporting business management in communicating a strong culture of compliance and control by promoting adherence to Sanctions Policies and procedures.
- Provides periodic reports and updates to business management regarding the Business’s execution of Sanctions compliance requirements.
- Drives the identification, escalation, and management of Sanctions risk, including plans and projects related to remediating identified significant Sanctions exposures and control gaps.
- Escalates potential Sanctions -related compliance gaps, issues, or emerging risks to independent control functions and identifies instances where policy waivers/dispensations requests should be raised with the owners of relevant Sanctions policy documents.
- Ensures that issues are properly owned, have appropriate target dates, and are created timely.
- Understands Sanctions compliance risks inherent in the Business and the regulatory environment in which the Business operates and, where appropriate, reviews and utilizes Citi’s Enterprise-Wide OFAC Risk Assessment (“EWORA”) to monitor the Business’ risk and enhance the control environment.
- Drives the business to design risk mitigants into new and modified products and services, including driving and as needed participating in the New Product Approval (NPA) Process for Sanctions related matters, as required for their region/business
- Reviews key risk & performance indicators such as metrics,Risk Appetite Key Indicators (“KIs”), Manager Control Assessment results, etc., and periodically reports to Governance structures (Sanctions /OFAC Global/Regional/Business Governance and Business Risk Committees and Business Risk, Compliance and Control (“BRCC”) as appropriate).
- Leads and /or participates in Sanctions governance committees and other related meetings.
- As necessary, provides information and data to respond to Sanctions specific regulatory inquiries and exams.
- Consults with the relevant Citi Sanctions team regarding Sanctions -related requests that arise as part of Markets and Securities Services specific regulatory inquiries and exams.
- Incorporates standards and requirements set by Citi‘s Sanctions Policy into business policies, procedures, and processes. Driving for appropriate business controls and MCAs to test them.
- Proactively engages other independent control functions regarding changes in relevant business operational processes and practices with Sanctions -specific regulatory implications.
- Oversees that necessary in-business resources exist to effectively and efficiently manage Sanctions compliance risks, and escalate when issues arise.
Qualifications and Skills
- Undergraduate degree in business administration, economics, finance, accounting, or computer science (other fields to be considered as well). Advanced degree (Masters/JD) preferred
- At least 15 years of securities / banking industry expertise
- Excellent knowledge of Trading, Custody and Structured Finance products
- Excellent knowledge of Sanctions Regulations
- Excellent Project Management skills
- Experience with Matrix Management structures
- Excellent written and verbal communication skills
- Strong people management / team development skills, including ability to manage remote teams
- Strong desktop/PC skills, including strong knowledge of MS suite of applications, particularly PowerPoint and Excel.
- Capable of multi-tasking, recalibrating as priorities change, and focused on managing expectations and meeting deadlines
- Attention to detail with focus on accuracy and quality
Job Family Group:Risk Management
Job Family:Business Risk & Controls
Time Type:Full time
Citi is an equal opportunity and affirmative action employer.
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.
Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.
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