AddressEnterprise Risk Management (ERM) within Independent Risk Management is responsible for overseeing the implementation of Citi’s Enterprise Risk Management Framework and for specific enterprise-level risk management programs and processes that span the organization, the lines of defense and various risk categories. These include risk identification, enterprise risk analytics, risk appetite & limits, new activity risk management, risk frameworks & policy, strategic risk, digital assets risk and climate risk. The group is headed by the Head of ERM who reports directly to the Citigroup Chief Risk Officer (CRO).
About the Team:
As part of ERM, Enterprise Risk Analytics & Stress Testing is responsible for Enterprise Stress Testing with Legal Entity Oversight (LEO), Material Legal Entity (MLE) Stress Testing and ICAAP execution and oversight, Firmwide Scenario Design and Expansion which cover Enterprise programs and all Legal Entities.
About the Role:
The current opening is for the Head of Legal Entity Framework Oversight and Execution, reporting to the Head of ERA.
Key Responsibilities: Key mandates of the role will include:
Legal Entity (LE) responsibilities for Regions (EMEA, LATAM, APAC):
- Establishing and on-going oversight of Risk Management Frameworks (RMF), Policy, Standards and Procedures in line with minimum baseline standards and local regulatory requirements
- Establishing and on-going oversight of the ERM Policies (e.g. Risk ID, Stress Testing, Risk Appetite etc.) including Risk Category policies, and Standards in line with minimum baseline standards
- Monitoring and reporting of all relevant risk categories and types against appetites set to the relevant Committees/Boards in a timely fashion
LE Project specific
- Implementation of LE RMF, LE RAF and associated Risk Management Information (MI) tools ensuring they meet baseline standards and local regulatory requirements (where relevant) and take responsibility to seek dispensations where minimum standards are not being met.
- Perform gap analysis of LE capabilities against the baseline standards for RMF, RAF and MI
- Establish the necessary remediation plan to ensure a path to green including any interim risk mitigation controls that may be required.
- Participate in risk MI tool development through the provision of detailed requirements to the development team, participation in UAT, gap analysis and remediation through to go-live in production.
LE Maintenance specific
- Transition development of LE RMF, LE RAF and MI from a project to a BAU process including establishing any required annual review processes.
- Engage with regional peers and central resources to perform on-going development to ensure consistency of approach globally to any required enhancements of LE capabilities.
- Participate in LE tiering discussions (for relevant LE entities) including proposals to change in tier ensuring implications are fully considered and appropriate steps are taken to meet minimum baseline standards.
Significant interaction with a wide range of senior bank and risk management colleagues, as well as external stakeholders such as regulators / auditors
Development Value:
The successful candidate will have the opportunity to be part of a significant transformation effort of one of Citi’s foundational risk management programs, with active engagement across different Regions and Legal Entities, multiple business lines and risk stripes. The candidate will have organizational exposure to senior management and subject matter experts across businesses and functions, including the Citigroup CRO and their leadership team.
Qualifications:
- Demonstrable of experience in the financial services industry, preferably with risk management experience or working in Compliance or Audit or Governance role
- Proven experience interacting with senior management, regulators, and internal audit with understanding of Global Regulatory landscape.
- Proven experience in driving strategic, firmwide initiatives, including building stakeholder relationships and influencing / negotiating to achieve outcomes
- Good understanding of regulatory expectations and industry practices in limit management and concentration risk management and/or related areas
- Disciplined approach to execution, focused on making decisions that propel the project forward and avoid negative surprises
- Ability to synthesize complex concepts and effectively persuade senior audiences, orally in in writing
- Bachelor’s degree in financial, economics, mathematics or related field; Master’s degree and/or professional designations preferred
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Job Family Group:
Risk Management-
Job Family:
Risk Analytics, Modeling, and Validation-
Time Type:
Full time-
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