Country Consumer Bank In-Business Compliance Risk Manager
The Compl Bus Control Sr Manager accomplishes results through the management of professional team(s) and department(s). Integrates subject matter and industry expertise within a defined area. Contributes to standards around which others will operate. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the entire function. Requires basic commercial awareness. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Has responsibility for volume, quality, timeliness and delivery of end results of an area. May have responsibility for planning, budgeting and policy formulation within area of expertise. Involved in short-term planning resource planning. Full management responsibility of a team, which may include management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary and terminations and may include budget approval. Responsibilities:
- Manage and drive the incident management process from Start to Finish.
- Produce the weekly Incident Management Report communicated with all senior leaders in supported Lines of Business.
- Facilitates and ensures Issue Management Quality Standards are met for issues documented
- Act as the Single point of Contact for issue metrics.
- Transform raw data into useful metrics and reportable information for senior leadership.
- Develops and produces issue and incident metrics for Senior Leadership on a weekly, monthly and quarterly basis.
- Perform quality assurance over issues being reported on multiple executive level reports to include Monthly Operations Decks and Weekly Control Decks.
- Leverage communication and influencing skills to guide issue and corrective action plan owners and issue managers during times of distress during the issue management process.
- Keeps abreast of the organization's operational processes and best practices for business strategy.
- Build partnerships with supported Line of Businesses Operations leaders, process owners, client experience leaders, control leaders, and Training, so that efforts are aligned with strategy and department efforts, regular two-way communication exists, downstream impacts are considered and business solutions are optimized.
- Appropriately assess 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.
- Ability to run and manage conference calls with business partners, technology and functional peers from multiple disciplines to reach a common goal.
- Prefer experience of Transactions Services functional knowledge
- Proficient with the iCAP system, experience with Cognos is a plus.
- 6-10 years of experience
- Bachelor's/University degree or equivalent experience, potentially Masters degree
Reporting to the Country CBORC Head, the Consumer Bank In-Business Compliance Risk Manager is responsible for guiding the Consumer Bank business to effectively identify and mitigate regulatory risks at every point in the end-to-end process to operate within the approved risk appetite. The scope of this responsibility encompasses all laws, regulations, and internal policies applicable to the Consumer Bank business. Across each area of responsibility, the candidate will operate in close partnership with the 2nd line of defense (in particular, Independent Compliance Risk Management, Legal and Independent Operational Risk Management) responsible for challenging and monitoring business adherence with all laws, regulations and rules and internal policies. The candidate will collaborate with Businesses and Functional Teams to ensure regulation risks are adequately managed end-to-end, rather than within functional silos. Key responsibilities include:
- Actively collaborating with business leaders to identify, evaluate, and manage regulatory adherence risks arising from the definition of business strategy, development of new products and services, changes in regulations or internal policies, or from business-led changes. This involves promoting a culture of responsible business innovation with a strong emphasis on demonstrable regulatory adherence through key risk and controls monitoring.
- Educating and providing guidance to business leaders and process owners on required regulatory obligations and contributing to the end-to-end development of controls and monitoring to ensure they are designed to adhere with applicable regulations. This includes active leadership and engagement during the scoring of inherent risk, and the performance of control and monitoring design assessments to ensure identified regulatory risk is well understood and addressed.
- Continuously evaluating and driving the maintenance of the regulatory inventory linkage to supporting controls in Citi's system of record so that management can effectively demonstrate adherence to applicable laws and regulations through the Manager's Control Assessment program.
- Conducting an annual evaluation of Regulation Risk for inclusion in the MCA Annual Risk Assessment. Evaluating Regulation Risk Control performance to identify and escalate high residual risks and those breaching their defined risk appetite. Creating and publishing a 1st line state of regulatory adherence report for senior management and recommending corrective actions and improvements required to mitigate the identified risks.
- Proactively identifying business opportunities to improve regulation risk management, prioritizing reviews to uncover root causes and unknown drivers of risk. The candidate will analyze data and findings to define and present clear, concise recommendations to business leaders to strengthen their ability to make impactful strategic decisions, policy and procedure improvements, and other business strategies.
- Developing strong relationships with Business, Operations & Technology leadership and partners in 2nd and 3rd lines of defense and engage with them to reduce and mitigate regulation risk. The candidate will also partner with MCA Management Teams in the continuous enhancement of regulation controls and monitoring. This includes engaging with Assessment Unit (AU) leads and process owners to develop requirements to automate controls and digitize monitoring where appropriate.
- Guiding and directing the MCA Management Team and process owners across Business, Operations, and Technology on establishing permanent audit readiness activities that effectively demonstrate adherence to applicable regulatory obligations. This includes providing guidance to or participating in targeted review teams, and engaging with Internal Audit and Compliance Assurance over potential regulatory findings.
- Oversee the implementation of Citi Privacy and Confidentiality Policy and Standards. Coordinate with Privacy Notice owners to maintain inventory of Privacy Notices and Choices, and relevant business procedures, and perform Privacy Impact Assessment. The candidate will also partner with Legal and the Privacy Officer to ensure business adherence to Privacy laws including those with extra-territorial impact, e.g. GDPR and CCPA.
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