ICG Risk & Controls Head of Cross Operational Risk Measurement and Assessment

Company: Citigroup Inc.
Location: New York
Posted on: May 28, 2023

Job Description:

The Head of ICG Risk and Controls Cross Risk Measurement and Assessment will be a direct report to the Global Head of ICG Risk and Control and serve as an integral member of the leadership team. This executive will also serve as a key partner to support each of the ICG Lines of Business to measure and assess the Operational Risk profile relative to ICG, with an expectation to help drive delivery and clear communication of operational risk reduction.This professional will be expected to establish a deep understanding of the Risk Identification, Appetite and Assessment processes to drive a consistent and coordinated Operational Risk profile for ICG. This will involve close partnership with the Lines of Business, Risk Stripe Owners, Functional stakeholders, and Second Line Risk Management teams.A key component of developing the cross ICG Risk Assessment is bringing clarity and understanding to the cross-risk stripe dynamics. This executive is expected to work with the individual risk stripe subject matter experts to identify and draw out the risk drivers across stripes to enable and support the Lines of Business in proactive operational risk management and the development of a comprehensive risk profile.Additionally, given the cross-risk stripe dynamics inherent of the Processing and Reporting Risk stripes and to further support the ICG Lines of Business in managing and reducing the operational risk profile, this executive will also take the lead for the ICG Processing Risk, Regulatory and Management Reporting Risk and Financial Statement Reporting Risk stripes.The Head of Cross Risk Assessment will also be expected to partner with the risk stripe leads and Lines of Business to agree and develop consistent and objective key indicator metrics and scenarios that inform both inherent and residual risks, which will be leveraged to form substantiated assessments of risk appetite and demonstrable risk reduction.Key to residual risk assessment will be a comprehensive appreciation of the ICG control framework and as such, this executive is expected to partner with the cross ICG and Lines of Business control assessment teams to bring effective challenge and substantiation to residual risk determination and reduction.This role requires a broad and comprehensive understanding of operational risk management including risk identification, appetite, assessment, and scenarios. Also necessary will be in-depth industry knowledge to contribute to the commercial objectives of the business while applying sound, practical risk management policy and procedure.Responsibilities:* Lead the ICG Cross-Risk measurement and assessment of Operational risk as it relates to new and existing businesses and drive changes when appropriate.* Lead ICG Risk stripe coverage of Processing Risk, Regulatory and Management Reporting Risk and Financial Statement Reporting Risk.* Identify and develop cross risk stripe drivers to enable a comprehensive ICG Operational Risk profile.* Support the ICG Lines of Business with proactive operational risk management and demonstrable risk reduction.* Review and monitor existing key risk indicators, develop new risk indicators as appropriate and report trends to ICG Risk and Control management.* Develop an understanding of control framework to Assess, challenge and substantiate residual risks.* Monitor industry trends and articulate Citi's position to Senior Management. This includes providing ongoing updates to Chief Risk Officer's, Product Managers and Sr. Management related to ICGs Operational Risk profile.* Identify new tools and capabilities to mitigate current and anticipated operational risks.* Develop strategic vision for future management and mitigation of operational risk, to include re-engineering of work-streams, communication, and detection capabilities.* Assess and build the appropriate support structure to understand, manage and mitigate operational risk and ensure sustainability.* The position requires substantial interaction and collaboration with Policy, Operations, and other functional business partners to optimize operational risk management.* 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.Qualifications:* 15+ years of experience in financial services industry.* Significant experience in Operational Risk and other risk and control disciplines.* Experience leading and managing teams, program management and an understanding of operational risk.* Experience managing teams with broad accountability in a complex environment is critical as well as an ability to work effectively in a cross-functional organization.* Ability to balance strategic priorities with tactical actions.* Proven track record and accountability in making quick, but thoughtful, decisions that have an immediate impact on business financials.* Excellent communication skills required to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary.Education:* Bachelor's/University degree or equivalent experience, potentially Master's degree and managerial experience* ------------------------------------------------Job Family Group:Risk Management* ------------------------------------------------Job Family:Business Risk & Controls* -----------------------------------------------------Time Type:Full time* -----------------------------------------------------Primary Location:New York New York United States* -----------------------------------------------------Primary Location Salary Range:$300,000.00 - $500,000.00* -----------------------------------------------------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.View the "EEO is the Law" poster. View the EEO is the Law Supplement.View the EEO Policy Statement.View the Pay Transparency Posting

Keywords: Citigroup Inc., New York , ICG Risk & Controls Head of Cross Operational Risk Measurement and Assessment, Other , New York, New York