Operational Risk Management – C15 Processing Risk (Markets Trade Booking & Lifecycle Risk Review and Monitoring) Hybrid

Job Id: 24722497

Processing Risk is a key risk stripe within Operational Risk Management (ORM) at Citi and managing Processing Risk effectively within Citi is a matter of high priority for all key stakeholders including regulators and senior management. Processing risk focuses mainly on the errors arising out of the manual processing of financial transactions (e.g. trades, payments, margin etc.).

The central ORM-Processing Risk (ORM-P) team is a team that is focused on managing Processing Risk firmwide within Citi, partnering seamlessly within ORM as well as with key partners in other lines of defence including internal audit and the first line of defence. Metrics & Analytics, Risk Review and Monitoring and Governance & Framework are key elements and teams to effectively manage Processing Risk within Citi.

The Operational Risk Sr Group Manager (Risk Review and Monitoring) is a strategic professional with ORM. Overall objective of this role is managing Processing Risk within Markets Trade Booking & Lifecycle functioning as a Processing Risk SME. The Risk Review and Monitoring (RRM) team is a team that is focused on effectively managing processing risk within the different high-risk processes and managed segments within Citi and this role will focus on managing this risk within the manual trade booking and associated trade lifecycle processes across the firm, prioritized in a risk appropriate manner

This senior role ensures that aggregate enterprise profile for this risk category adequately reflects the manual trade booking processes across all elements of the operational risk framework including Risk identification, Monitoring, MCA, correct risk taxonomy application etc. The role will work closely with the ORM coverage team to develop and execute a cohesive processing risk management program covering the manual trade booking processing. This role will involve significant interactions with the 1st line teams to ensure appropriate risk identification, adequacy of remediation programs, compliance with the Processing Risk Policy as well as appropriate monitoring and governance of risks

In doing so the team leverages risk metrics and analytics along with SME input and other indicators to identify the key processing risks and issues within the area of responsibility and works with ORM Coverage and the 1st line teams, to ensure the risk is effectively managed. The team also ensures that the Processing Risk Policy is effectively implemented. Where required and as appropriate the team performs deep dive end to end process reviews on areas of most significant risk leveraging industry best practices to identify key process and control design gaps and identify potential solutions. The team acts as subject matter experts around Processing Risk for the managed segment and works to ensures various elements of the risk framework such as lessons learned, Managers Control Assessment, Scenario Analysis and other routines are appropriately reflective of the risk within the relevant area of responsibility.

The Role Is For An

experienced candidate who has an in-depth understanding of Trade booking and associated trade lifecycle processes within Citi’s main businesses such as equities, rates, fixed income and commodities, risk and control and business processes within trade booking that give rise to Processing Risk. 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. 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 an understanding of the aggregate Processing Risk profile for Trade Booking & Lifecycle based on risk metrics, SME judgement and other key indicators. This will require thorough understanding of manual processes that give rise to Processing RiskPartner with/challenge 1st line to understand how present processing risks are being remediated with the various trade booking processes (e.g. Equities, Rates and supporting functions such as Operations) and identify/agree any additional remediation that may be requiredPartner with ORM Coverage to assess / challenge high risk new activities/business which may increase processing riskIdentify any emerging risks as it relates to Processing riskServes as a subject matter expert for processing risks, related risk and control issuesIndependently assess broad risk themes and drive actions to address root causes that persistently lead to processing risk losses by challenging both historical and proposed practicesPerform deep dive risk and control reviews on areas of significant risk across Trade Booking processes as neededAssess and approve requests for Risk Acceptances, Dispensation & Waivers against PolicyEnsures various elements of the risk framework such as lessons learned, Managers Control Assessment, Scenario Analysis and other routines are appropriately reflective of the risk within the managed segmentPartner with first line teams to ensure adequate implementation of the processing risk framework including compliance with the processing risk policyWork with ORM – Governance & Framework to develop minimum control

requirements relating impacting Processing Risk as requiredParticipate in Regional / Business Governance committees/Global Processing Risk Oversight Committee and forums to provide updates as it relates to PBWM processing RiskDevelops 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 environmentAppropriately 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.Communicate to senior management forums as well as to regulators on the progress and risk profile

Qualifications

15+ years relevant

experience with the financial services industryDeep understanding of trade booking and underlying businesses such as Equities, Fixed Income, Commodities, Rates etc and supporting functions such as OperationsIn-depth understanding of risk and control, risk framework and policy/governanceOutstanding 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 / deliverablesDetailed 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 teamStrong influencer with a focus on building relationships with first line SMEs while remaining independent and retaining the ability to challenge effectivelyAdvanced Leadership

skills, operates as a leader, with an understanding and appreciation for diverse backgrounds

Education

Bachelor’s/University degree, Master’s degree preferred

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Job Family Group

Risk Management

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Job Family

Operational Risk

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Time Type

Full Time

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Primary

Location

Tampa Florida United States

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Primary

Location Full Time

Salary Range

$170,000.00 - $300,000.00

In Addition To

salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee

benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee

benefits, please visit citi

benefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Anticipated Posting Close Date

Apr 24, 2024

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