ORM Head for ORM Global Functions

Operational Risk Management (ORM) is an enterprise level independent risk management function responsible for enterprise-wide oversight and aggregation of operational risk. Its mandate covers all business lines (USPB, Wealth, Markets, Services, Banking, Clients, Global Functions, COO and Technology) and legal vehicles spanning all geographies.

The ORM function oversees the design and implementation of the non-financial risk management framework. Key objectives of the risk management framework are:

Operating model, staffing and culture: Ensure the operating model across lines of defense is clear and consistent with sufficient resources, expertise, accountability and stature, and that it is enabled by structured training and awareness program to effectively manage and oversee operational risk.

Operational risk appetite: Clearly articulate risk definitions and appetite and make sure they are aligned against the most critical business outcomes to ensure strategic relevance and application at business, country and entity levels and that Citi operates within its set risk appetite. Control objectives and standards: Ensure Enterprise Control Standard and controls design requirements are clearly articulated and implemented and that control objectives and requirements are defined at appropriate risk category and sub-category levels to ensure consistent control design and effectiveness.

Operational risk and control assessments and reporting: Oversee that MCA is fit for purpose and is owned with full buy-in from the 1st line, and that it is supplemented by a suite of other fit-for-purpose assessments (e.g., risk category specific assessments, scenario analysis, lessons learned, targeted deep dives/peer reviews). Ensure assessment results are communicated through clear reporting with thematic and actionable insights.

Strategic decision making: Oversee that Risk Management practices; insights and tools are consistently embedded in day-to-day business processes and strategic decision-making to enable proactive issue identification and comprehensive remediation

Key Responsibilities

Reporting directly to the Global Head of ORM, the responsibilities for the ORM Head for ORM Global Functions include:

Leads the strategy, approach and drive 2LoD oversight of the Bank’s progress on Consent Order remediation – this includes active engagement/coordination with IRM and ICRM 2LoD partners to enable formulation of an informed comprehensive view of the enterprise-wide progress on CO remediation and corresponding risk reduction.

Provides independent operational risk management oversight over the Citi Functions including (not limited to) Chief Operating Office, Enterprise Services and Public Affairs, Citi Security and Investigative Services, Legal, Independent Risk Management, and Independent Compliance Risk Management. Evaluates aggregated risk profile for each of the Global Functions.

Across all the dimensions of responsibility, evaluates the quality and execution of the Function control design and effectiveness assessments and drive business efforts as needed to strengthen risk management, controls and other risk mitigation efforts. Escalates significant or unaddressed risk issues and control environment concerns to Business/Function and Risk Leadership. Assesses that the Function has the appropriate skills and experience and capacity for managing operational risks, and for implementing the operational risk framework.

Leads development and oversees execution of the operational risk strategic policies and frameworks for independent review and challenge of the Functions’ control environment in close coordination with Operational Risk and other Independent Risk leadership, in-Function risk and control leadership, and Internal Audit.

Facilitates accurate and appropriate reporting of operational risks to senior management, the Board of Directors, and regulators.

Contributes to the strategic direction of Citi Operational Risk Management in developing and promoting the adherence to and use of best operational risk management policies, practices and metrics.

Oversees the execution of the operational risk reviews, quality of artifacts, and appropriateness of findings with impact assessments, severity ratings and corrective actions.

Appropriately assesses 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.

Serves as a point of escalation for key issues or time sensitive decisions. Acts decisively in high risk scenarios, assessing a situation based on available data, experience, intuition, and judgment.

Qualifications & Leadership Characteristics:

• Broad experience in risk management including a successful track record of managing large complex enterprise-wide risk management programs at a large financial services organization.

• Strong analytical and strategic thinker

• Experienced risk challenger who balances risks vs. rewards aligned with corporate risk culture

• Understanding of the products and services Citi offers and how risk management practices contribute to other work across Citi / understand downstream impacts of decisions made.

• Consistently reads diverse situations accurately and takes appropriate action to gain senior stakeholder commitment.

• Strong leadership skills with a proven track record of working with a diverse range of skill sets and perspectives, recognizing that the power of Citi is the sum of its parts.

• Track record of recruiting and managing talent and driving change.

• Ability to constructively challenge others at all levels and across boundaries to deliver better results.

• Continuous improvement mind-set to solve for root causes, assess impact of actions and adjust as needed; simplify and standardize at every opportunity.

Education, Knowledge, Experience and Qualifications:

• 15+ years of domain experience in operational risk management in the banking/financial services industry with at least 5+ years in 2nd or 3rd line senior leadership positions.

• Extensive experience managing, overseeing and effectively challenging large remediation/transformation programs to achieve intended results

• Strong, direct experience in regulatory engagement

• Ability to respond to challenges with creative solutions, adapts to changing business needs.

• Demonstrated ability to make sound judgment calls on issues that can be both quantitative and qualitative in nature.

• Acts as a role model for managing people, coaching, and serving as a mentor.

• Champions diversity and seeks to recruit, retain, and develop talent. Supports mobility.

• Excellent communications skills verbal & written. Active listening skills.

• Masters’ Degree/specialized training in risk management, business and/or engineering related fields highly preferred .

• Extensive experience in communicating with senior audiences including Boards -both written and verbal.

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In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Anticipated Posting Close Date:

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