Svp Senior Operational Risk Manager Orm Sales Practices Jobs Vacancy in Citi Irving
- Svp Senior Operational Risk Manager Orm Sales Practices
- Irving TX
- 13 Jan, 2018 30+ days ago
Citi Irving urgently required following position for Svp Senior Operational Risk Manager Orm Sales Practices. Please read this job advertisement carefully before apply. There are some qualifications, experience and skills requirement that the employers require. Does your career history fit these requirements? Ensure you understand the role you are applying for and that it is suited to your skills and qualifications.
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Svp Senior Operational Risk Manager Orm Sales Practices Jobs Vacancy in Citi Irving Jobs Details:
- Primary Location: United States,Texas,Irving
- Education: Bachelor's Degree
- Job Function: Risk Management
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 17065472
About Citi Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients. Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities. Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all. POSITION OBJECTIVE Provide segment and risk specific expertise in order to execute effective oversight of the Business’ risk identification, assessment, monitoring and mitigation process. “Business” in this context means US Based Consumer Businesses with specific focus on Sales Practices and Conduct risk for the relevant lines of business. The Senior Operational Risk Manager performs the role through proactive engagement with the Business management, and through effective challenge - in formal governance forums and in day to day management processes. The objective is to ensure compliance with Citi’s Operational Risk Framework and policies as well as to meet “Heightened Expectations” from Regulators for the 2nd Line of Defense. Business Operational Risk Managers also assist with the development and enhancement of the Operational Risk Framework. Reporting to the Function Coverage Lead Op Risk Group Manager, this position works closely with Business and Product Managers, Business Heads, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Compliance, Legal, HR) in carrying out job responsibilities. BUSINESS COVERAGE SCOPE Initially, 75% of the time of the risk manager will be spent on the ORM action plan related to the OCC MRAs but the broader responsibility will include assisting the Risk lead to cover Customer Conduct Risk as a risk category and to work with Compliance and other control functions as needed to develop the policies, procedures and governance needed. Provide ORM oversight and challenge of relevant elements of the 5 OCC MRAs and related work streams including the expanded scope to cover Consumer Businesses in Asia and EMEA as well as GCB partners and third party employees. Prime interfaces for Senior Operational Risk Manager – Sales Practices:
- US Retail Bank (including Private Wealth Management and International Personal Banking, US), Mortgage, Branded Cards and Citi Retail Services leaders.
- Central enterprise level ORM Foundation team.
- ORM Governance, Audit and Regulatory Relations team to ensure effective business management and regulatory interactions.
- Franchise Risk Architecture Reporting team to support business risk profiling and reporting.
- Consumer ORM Framework and Risk Cycle Management team for expertise in framework requirements, policies and procedures.
- All US Based Consumer ORM Business Coverage teams for North America to ensure consistent standards in oversight execution as well as transfer of lessons learnt. KEY RESPONSIBILITIES Sales Practices Oversight
- Develop a detailed plan and milestones (including engagement with other functions) for executing on the ORM Plan for strengthening oversight of Sales and Marketing Practices
- Work with the ORM Foundation team, Compliance and Business to craft GCB Risk Appetite statement for Customer Conduct Risk – focusing initially on Retail Sales and Marketing Practices Risk. Develop necessary procedures and oversight processes around governance and monitoring of the Risk Appetite including Business response and corrective actions in the event of breaches ;
- Review and challenge the design and development by 1st LOD of sales practices surveillance methodology and recommend enhancements as needed – in particular if there are any gaps related to meeting the requirements of the MRAs
- Understand and have a good line of sight to end to end monitoring practices put in place across functions – HR, Ethics Office, Businesses, Compliance.
- Evaluate escalation standards developed by the Business and require modifications as necessary.
- Review enhanced controls developed by the Business and evaluate if adequately reflected in the MCAs of US Businesses. Collaborate with Asia ORM to drive consistency across Consumer MCA entities and Regions. Drive corrective action as required.
- Re-evaluate Sales Practices related KORs and KRIs including breach trigger thresholds at Segment and Sub-Segment level, recommend enhancements and drive change as needed.
- Review and enhance Consumer ORM oversight procedures at sub-segment level, coordinate with International regions and Private Bank ORM to facilitate adoption of consistent procedures. Risk Identification Analysis & Assessment The Operational Risk Manager leverages all the core tools that are part of the ORM framework viz., the Key Operational Risk Identification and Key Risk Indicator monitoring process, Scenario Analysis, Manager’s Control Assessment and Ratings Challenges, Internal and External Loss Analysis as well as Risk Reviews to provide effective oversight. Risk identification, analysis and assessment of current and emerging issues also requires working with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product.
- Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics, loss data and external events. Effectively communicate learnings to Business in order to drive necessary responses and action.
- Proactively analyze various data sources to form an independent assessment/opinion of op risk.
- Take the lead in developing and implementing (latter with the Risk Analysis unit) the data mining and conceptual approaches necessary to establish robust leading indicators and metrics to identify areas of potential OR exposure and emerging risk to enhance loss anticipation and mitigation. For specific risk types engage the relevant specialists from the 2nd line to develop leading risk indicators.
- Continuously monitor Key Operational Risks and related Key Risk Indicators and ensure the Business is taking appropriate action to respond to breaches.
- Leverage knowledge of the current economic, regulatory and Business environment to proactively identify potential risk and develop specific recommendations for the Business to action.
- Identify changes in business strategy, market conditions, industry trends, regulatory environment, macro-economic factors etc that may lead to an increase in Op Risk
- Use risk analysis to understand how losses were incurred, determine lessons learned, identify root causes and use in developing recommendations for risk mitigation Risk Mitigation
- Drive solutions to root causes that potentially can lead to op risk
- Develop actions or, as appropriate, projects to apply lessons learned and share across relevant geographies/managed segments. Coordinate with ORM colleagues to determine applicability on a global basis.
- Work as an independent partner to mitigate risk and improve processes and controls so as to take action before risks materialize into op losses.
- Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans. Ongoing Business Monitoring Activities
- For those areas where potential risk has been assessed to have increased or is high, or there has been a significant recent loss, determine if a deep dive and/or specific review is required.
- Continuously monitor and review relevant data, reports, and trends to develop and maintain an Operational Risk profile assessments for the Business.
- Review op losses (including external / industry events) and MCA results (execution quality and ratings) quarterly
- Stay informed and current on news related to financial markets/industry, segment, region, country as relevant. Consider the potential impact from an op risk perspective to reevaluate the risk profile of the coverage area
Knowledge and Experience
- Work experience of 7+ years in the financial services industry in risk and controls assessment.
- In depth knowledge of Consumer NA businesses, products and the banking industry globally including major regulatory themes a plus.
- Leadership positions in Risk Management, Internal Audit, Compliance or related field a plus.
- Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed.
- Experience with Citi Risk and the Managers Control Framework a plus.
- Business or Risk experiences in Credit Card, Retail Banking or Personal Wealth Management a plus. Skills
- Strong analytical and conceptual 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 and shifting teams as well as virtual teams.
- Superior communication and interpersonal skills. Competencies
- Proficient in MS Office applications necessary for executing on job responsibilities.
- Excellent data / quantitative analysis skills.
- Superior writing skills to develop high quality policy / procedure documentation.
- Executive presentation skills. Qualifications
- Bachelor’s Degree / Master’s Degree in Business, Finance, Accountancy, Law, Science, or other relevant fields.
- Training/Certification or experience in database/MIS management tools a plus.