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Operational Risk Officer - NA CBORC

Job Req ID 21251263 Primary Location New York, New York; Wilmington, Delaware; O'Fallon, Missouri; Jacksonville, Florida; Tampa, Florida; Charlotte, North Carolina; Irving, Texas; Taiwan Job Category Risk Management
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The Operational Risk Officer is a key role within the NAM Consumer Business Operational Risk & Control Organization reporting to the Business Operational Risk Manager.  . The Operational Risk Officer role is responsible for performing the key risk governance routines aligned to the Manager’s Control Assessment (MCA) program.  The MCA standards establish a comprehensive self-assessment program, methodology and tools to mitigate risks.  This role is responsible for executing the MCA standards, performing the activities and utilizing the tools associated with MCA for risk and control identification, assessment, monitoring and for residual risk management of all Governance,

Risk, & Compliance (GRC) Risks supporting the following:

•    Manager’s Control Assessment (MCA) Program
•    Standard MCA Profiles (SMP) and Enterprise MCA Profiles (EMP)
•    Annual Risk Assessment (ARA)
•    Inherent Risk Scoring
•    Dependencies
•    Continuous Risk Management & Monitoring
•    Quarterly Risk Assessment (QRA)
•    Regulatory Inventory Mapping (RIM)

The Operational Risk Officer role is responsible quality and consistency in execution of standard MCA program activities, including ARCM descriptions, SMP/EMP adoption and decline rationale, and Inherent Risk scoring across all USRB assessment units (AUs).  Additional responsibilities include preparation of materials for the AU control performance through Quarterly and Annual Risk Assessment activities and processes, providing a view of the business’s inherent and residual risk level overall and in relation to specified taxonomy. 

This role will work as a part of a broader team to maintain GRC linkage within Citi Risk and Control.  Role will collaborate with SORM, BORM, CBORC Monitoring, and where applicable, the Business MCA teams to strengthen and drive consistency in the execution of MCA.

Role is responsible for supporting Governance, Risk & Compliance requirements that are applicable to the US Consumer businesses and functions.  Governance, Risk & Compliance (GRC) programs comprise the policies, procedures and processes through which Citi identifies, assesses, manages, and reports operational and compliance risks – as part of Citi’s Risk Governance Framework.  The role will interface with Business Process Owners, CBORC Senior Operational Risk Management Team members, and ICRM.  


Performs standard MCA program activities and effective challenge of:

•    ARCM Management

  • Partners with the BORM on the set up of new ARCMs
  • Partners with BORM to execute changes/ updates to existing ARCMs including adding/ updating/ removing of ARCM language/ taxonomy and/ or inherent risk scoring
  • Partners with BORM to accept/ reject SMPs/EMPs and ARCM dependencies ensuring consistency across AUs
  • Ensures Operational Risk Events and Issues are linked to ARCMs in Citi Risk & Controls
  • Supports the design of monitoring including helping to define and decide on monitoring statement language and updating monitoring language in Citi Risk & Controls

•    QRA/ ARA

  • Prepares the Assessment Unit level QRA and ARA decks
  • Supports the evaluation of results and produces the rationale/ commentary for outliers
  • Validates control performance and residual risk ratings
  • Validates inherent risk rating
  • Reviews results with BORM

•    CMDA

  • Supports CMDA planning and exercises on ARCMs
  • Partners with BORM to review Control Inventory and Standard/Enterprise Profiles
  • Records CMDA results in Citi Risk & Controls

•    Governance

  • Reviews Citi Risk & Controls weekly to ensure consistency of MCA application and to identify opportunities for improvement
  • Confirms continuous monitoring results have been uploaded to Citi Risk & Controls based on defined frequency; Raises gaps/ issues for resolution
  • Partners with BORM to perform frequency reviews
  • Develop and maintain processes and tools to support the MCA Execution team and drive consistency

•    Regulatory Inventory Mapping

  • Partners with the RIM Lead and team to support the completion of RIM activities
  • Manages gap tracker to ensure resolution/ closure of gaps
  • Completes required updates to tracker in Citi Risk & Controls
  • Works with BORM to map new ARCMs to rules/ regulations

•    Applies operational risk policies, technology and tools, and governance processes to ensure lasing solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.
•    Contributes to risk assessments and drives actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
•    Provides governance and oversight, which may include (not limited to) technology operational risk.
•    Evaluates the control environment by ensuring appropriate controls are in place.
•    Coordinates audits, examinations, and deliverable requirements from internal and external reviewers by supporting coordinating activities.
•    Ensures project completion, special assignments, and other ad hoc activities as required.
•    Ensures work products and activities comply with all regulatory policies and procedures.
•    Additional duties as assigned.

•    5-8 years relevant experience
•    Experience navigating and networking with internal stakeholders to support an implementation, process analysis and / or process improvement
•    Excellent verbal and written communication skills
•    Customer focused with excellent interpersonal skills and ability to work well in a team environment collaborating across diverse group
•    Demonstrated understanding of operational risk and gap identification
•    Ability to multi-task and manage multiple priorities simultaneously
•    Ability to present a compelling case to influence others where appropriate
•    Demonstrated ability to engage across multiple functions and organization levels
•    Well versed in breaking down complex matters into core issues and root causes so that they can be readily addressed
•    Comfortable working in a dynamic, problem solving, collaborative environment
•    Strong analytical skills and knowledge of Excel and other analytical tools across large data sets
•    General knowledge of primary end-to-end processes performed in the U.S. Consumer Bank businesses
•    Understanding / familiarity with new product development processes (e.g. 1st and 2nd line of defense risk/control mechanisms)
•    CBORC regulatory policies and procedures knowledge a plus
•    Experience with Citi Risk & Controls and knowledge of Manager’s Control Assessment/ ARA QRA a plus
•    Business or risk experience in credit card, retail banking or personal wealth management a plus
•    Experience in Risk Management, Product Management, Internal Audit, Compliance or related field a plus
•    Experience with governance, risk and control management, risk approvals, as well as engaging with 2nd/3rd lines of defense and U.S. Regulators (preferred, not required)
•    Familiarity with U.S. regulations as applicable to the banking industry (US Federal consumer and banking regulations) desired

Skills/ Competencies:
•    Proficient in MS Office applications necessary for executing job responsibilities
•    Strong analytical and conceptual skills
•    Superior writing skills to support MCA and the development of ARMCs
•    Superior communication and interpersonal skills
•    Independent thinker and able to perform a credible challenge of the Business
•    Ability to influence and convince without authority
•    Ability to work collaboratively within and across functions and Lines of Defense
•    Effective team player and contributor in dynamic environment
•    Ability to work effectively in virtual team

•    Bachelor’s/ University degree; Master's degree preferred


Job Family Group:

Risk Management


Job Family:

Operational Risk


Time Type:


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