Job Description

This role will focus on Processing Risk Governance and Framework as well as ownership of Processing Risk strategy and execution. The Governance and Strategy team is responsible for development, implement and management of a robust processing risk framework in order to assist the enterprise manage processing risk. In addition the team would also ensure a robust overall strategy, assist with regulatory engagement, team execution and development of an oversight program related to ORM-Processing Risk. The role is for an experienced candidate who has an in-depth understanding on governance, managing global teams and of how own sub-function contributes to achieving the objectives of the function. A good understanding of the industry, direct competitors' products and services, is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the relevant part of the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary.

Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. Accountable for end results, budgeting, planning, policy formulation and contribution to future strategy of the area(s). Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses. Full management responsibility for multiple teams, including management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval
Responsibilities:

• Develop and maintain an oversight program related to Processing Risk and work across work streams (including teams within ORM-P) to ensure adequate oversight.
• This would involve an in-depth understanding of what good looks like both from an Operational risk perspective as well as from a Processing risk perspective and would involve significant working across various stakeholders across all lines of defense.
• Implement new processes, functions and oversight routines required as a result of the oversight program developed
• Assist Global Head of Processing Risk with development of strategy, communication and execution relating to Processing Risk.
• This would involve obtaining an understanding of all aspects of processing risk, understanding stakeholder requirements, developing the strategy and ensuring robust tracking against the planned strategy
• Help in management of Processing Risk budgets and planning
• Assist in ensuring transparency and communication around Processing risk as required within the organization and responding to senior management requests (e.g. Board or Audit Committee)
• Assists in response to any global regulatory enquiries/exams or reviews around Processing Risk that needs input
• Support oversight of the monthly Global Processing Risk Oversight Committee which is a sub-committee of the Global Business Risk and Compliance Committee
• Lead the development of Regional / Business Governance committees and forums, and build ongoing relationships with First and Second Line Risk Managers, including guiding agenda coverage and escalation pathway to the Global Processing Risk Oversight Committee.
• Oversee and provide guidance on key aspects around framework and governance such as:
  • development and management of a robust and fit for purpose processing risk framework (including processing risk policy) in order to assist the enterprise manage processing risk and uses technology and tools, and governance processes to guide 1st Line to minimizing losses from failed internal processes, inadequate controls, and emerging risks.
  • Identification of any required enhancements to the framework based on feedback from stakeholders or based on self-identification
  • Development and maintenance of control standards relating to Processing Risk
  • Establishing an ongoing working relationship with other Policy owner groups (e.g., ORM, New Activity, Third-party, Data, other) to track alignment of Processing Risk policy framework changes with related frameworks.
• Partner with first line teams to ensure adequate implementation and execution of the processing risk framework as well as governance routines around risk appetite and top risks
• Serve as a subject matter expert for processing risks, related risk and control taxonomies.
• Support ORM Challenge of First Line by providing expertise while processing risks are identified, and risks are mitigated through proper control design and effectiveness.
• Independently assess broad risk themes and drive actions to address root causes that persistently lead to processing risk losses by challenging both historical and proposed practices.
• Collaborates to resolve any issues which fall within the terms of the function. Escalate those that require leadership support.
• Develops and maintains relationships across the business users and Lines of Defense to better understand and deliver stakeholder requirements by responding to changes in the internal and external business environment
• Take accountability for leading multiple internal area programs designed to enhance the operating model supporting Processing Risk Management framework.

Required Knowledge, Skills, and Abilities

• Relevant experience with the financial services industry
• In-depth understanding of risk and control, strategy, planning & budgeting risk framework and policy/governance
• Outstanding communication and influencing skills through all levels of the organization and with external partners.
• Exceptional relationship management skills; must be able to address and resolve conflict while maintaining relationships.
• Ability to effectively communicate complex topics to a broad audience.
• In depth knowledge of Operational processes and technology platforms supporting Operations.
• Experience managing development of approaches and methods, and delivering comprehensive product / deliverables
• Detailed oriented with analytical skills
• Experience in understanding and applying Citi's Operational Risk framework. Knowledge of other risk disciplines (Compliance, AML, technology risk) a plus
• Experience in managing and motivating a global diverse team
• Strong influencer with a focus on building relationships with first line SMEs while remaining independent and retaining the ability to challenge effectively
• Advanced Leadership skills, operates as a leader, with an understanding and appreciation for diverse backgrounds
• Bachelor’s/University degree, Master’s degree preferred