ASIA & EMEA GCG Head of Operational Risk Management - Director
ORM mission is to drive comprehensive and consistent practices designed to identify, measure, monitor, report and manage operational risks while promoting the implementation of actions to address root causes which may lead to unintended operational risk losses.
We drive our organization's understanding, anticipation and management of operational risk, so we can stay ahead of barriers to progress and keep Citi moving forward safely.
- Support intelligent risk decisions that enable responsible growth for Citi and our clients
- Provide a unique perspective that helps teams thoughtfully navigate the operational complexities they face every day
- Provide deep and relevant expertise to address today's vulnerabilities and forward-looking perspective to prepare for what's next
- Assist in protecting the firm and its reputation as we enable progress more effectively
ORM works with Citi's Business and Functions to provide a strong foundation for safe and sustainable progress, to provide:
- Expertise to set and drive high standards
- Perspectives that fosters intelligent decision-making
- A commitment to transparency and learning that builds a strong risk culture.
Reporting to the Regional Head of ORM, the candidate will work closely with EMEA & Asia Regional Business Consumer Head, CBROC Head & functions managers, to provide leadership for all aspects of ORM responsibilities. The role covers 17 markets in Asia. This includes 5 markets in EMEA. Key Responsibilities
Ensuring compliance with ORM Policy and Standards and local regulatory ORM requirements for all legal vehicles in EMEA & Asia. Key aspects of the responsibilities include :
Authorities and Areas of Challenge
- Establishing and overseeing the implementation and maintenance of the operational risk management framework including: local policies, standards, technology and tools, monitoring and governance
- Independently challenging the management of operational risk including existing and proposed practices and working as independent risk managers to drive improved control processes
- Providing an enterprise-wide assessment framework for significant current and emerging operational risks, including monitoring that actions are in place to mitigate exposure within risk appetite
- Identifying, assessing, anticipating, measuring, reporting and mitigating Citi EMEA & Asia's operational risk exposure
- Driving initiatives aimed at strengthening controls to enable effective decision making about products and services
- Providing senior management and the Board of Directors with an independent view of the firm's operational risk profile
- Review & Approve the content of Product Approval documents that significant operational risks relating to the New Product/Service have been identified and that adequate controls to mitigate these risks have been identified and documented within the Product Approval document.
- Liaise with related country ORM team and relevant subject matter expert in the review
- Document the justification for ORM approval and the rationale if any follow up conditions (one time or ongoing) are deemed necessary.
- Attend Post Implementation Review to ensure that execution and implementation of a proposal approved by Consumer Product Approval Committee (CPAC) or existing business or service is proceeding as intended.
- ORMs responsibilities include specific authorities, areas of challenge and approvals shown below.
- Challenges are expected to be addressed by an appropriate response or action.
Reporting & Escalation
- Report operational risks (including Risk Appetite KI breaches) as part of ORM's regular management reporting and briefings to the appropriate Country Audit / Risk Committees.
- Escalate unresolved challenges, significant differences in risk opinion versus 1st line and/or gaps in 1st line adherence to the operational risk management framework
- Challenge the identification of Key Operational risks including emerging/evolving risks and the appropriateness of KIs & thresholds.
- Challenge controls and actions taken to address Significant Residual Operational Risks (SRORs)
- Challenge 1st line risk and control assessments including their use of MCA, ratings and path-to-effective
- Challenge Risk Appetite statements, KIs and the adequacy of actions to address KI threshold breaches.
- Challenge internal /external event capture monitoring and response, corrective action plans, risk treatment and risk exceptions.
- Challenge and mandate specific Lessons Learned reviews conducted by 1st line
- Challenge selection, development, and execution of scenario analysis.
- Challenge the effectiveness of BRCCs and other operational risk and control forums
- Identify areas for Thematic risks and conduct Operational Risk reviews of specific risks and controls
- Approve New Product Approvals .
- Authority to downgrade an Entity's MCA rating
The ideal candidate will have strong leadership and communication skills, in-depth detailed knowledge on a wide range of Consumer Bank financial products and processes, and robust understanding of local business practices and associated regulatory requirements. Prior experience in previous roles may include but not limited to front/middle/back offices, Operations, Compliance, Audit and Risk Management in Consumer Banking. To qualify for this position, individuals must have a minimum of 13-15 years of work experience. Ideal candidate would have at least 7 years of domain experience in Consumer banking businesses in the front, middle, and/or back office capacities. Specific Risk Experience:
Strong Leadership Skills:
- Strong analytical skills applicable across businesses, products and customer classes.
- Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed.
- Able to eliminate chaos and confusion. Prioritizes high impact potential problems effectively.
- Innovative. Well versed in developing new ideas and improving current processes.
- Has led and/or successfully influenced cross-functional and/or geographically diverse initiatives.
- Considers broad implications of decisions on different functions and units.
- Can clearly articulate the processes supporting a business unit's function, controls, business priorities, impact on financial reporting, issues and risks associated with the IT infrastructure; understands limitations, can identify gaps and proactively help develop solutions.
- Experience in Operational Risk with knowledge of credit risk and/or market risk a plus.
- Familiarity with a wide range of businesses; understands capital markets and retail products.
Excellent Communication Skills:
- Provides leadership in optimization and efficiencies in control practices for the business as well as the resolution of cross business issues. Engages business and functional managers to mitigate risks.
- Thinks strategically and articulates concepts clearly.
- Focuses and guides the priorities of others. Makes well-reasoned decisions under pressure.
- Experienced negotiator - able to identify and influence key decision makers across various levels and functions within the organization; diffuse conflict and work toward agreement.
- Acts as a leader with an understanding and appreciation for diverse backgrounds.
Client Relationships/Business Partnerships:
- Both verbal and written.
- Experienced in using active listening techniques on a consistent basis.
- Strong Presentation skills - comfortable with public speaking across various forums and be able to effectively and logically communicate when ideas are being challenged in an open forum.
- Navigates organizational complexity; demonstrates organizational savvy.
- Builds partnerships across functions and regions; collaborates well with others.
- Networks regularly and builds relationships across Risk disciplines and with businesses.
Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - SG ------------------------------------------------------
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