The Global Loan Operations Risk and Control Head is a senior leadership role reporting to the Global Head of Technology Risk and ISG Operations Control. Candidate will be responsible for driving a robust Risk and Control framework and Governance within ISG Loan Operations organization globally.
The Information Services Group (ISG) is responsible for providing authoritative sources of reference data to our clients across the Institutional Client Services (ICG) organization, through implementing state of the art technologies which promote the collection, storage, analysis, and distribution of product, pricing, account and corporate action data. The ISG organization works in partnership with data clients across all ICG business lines, deploying solutions to increase their competitiveness, through restructuring business processes, simplifying information access, and providing business intelligence around critical data. Loan Operations is responsible for handling the cash flows between the lenders and borrower, distributing information received from the borrower for the lenders, and monitoring that the borrower adheres to the terms and conditions of the Credit Agreement. Loan Operations is responsible for making payment to the agent/borrower ensuring receipt of interest, and compliance with all other operational responsibilities as dictated in the CA.Responsibilities:Operational Control
- Independent first line risk role responsible for implementing a robust risk and control governance framework supporting Loan Operations globally. The role will support remediation efforts in response to regulatory matters and Internal Audit findings. This will involve working with Operations, providing guidance and advisory support and assisting in identifying or implementing solutions.
- Self-Assessment of Controls - ensure that all key controls are included in Managers Control Assessment (MCA) process, perform independent MCA conformance and assurance testing in line with Citi policies and standards.
- Assist in designing and implementing additional controls and process to strengthen overall control environment. Recommend appropriate and pragmatic solutions to risk and control issues
- Targeted process reviews - lead global control reviews of high risk or key regulatory processes/functions across the ICG Loans Ops teams to identify gaps in control design of control effectiveness; Develop and execute targeted review plans and schedules
- Collaborate with teams across the business and determine impact on the overall control environment of any noted issues
- Oversight of operations CAP management including tracking operations activity and remediation to ensure sustainable actions are embedded to resolve open issues.
- Audits - assist in planning for an audit, including identifying gaps in critical processes and ensuring CAP are raisedprior to the audit and assist in collation of deliverables
- Assist Loan Operations team in the reduction of End User Computing and reduction of risk using EUCs
- Develop reporting and tracking of key issues, MRA status and Control KRIs. Develop regional / global KRIs and ensure function heads have a Control Dashboard to provide management with a clear view on ongoing risks/issues
- Policy/ Guidelines - Policy/ Guidelines development, standardization, awareness, implementation assistance, and enforcement of related policies globally
- Advisory - Subject matter knowledge (for key requirements such as loan processing controls, End User Computing, escalation process, near miss requirements) and trusted advisor on risk and control issues to management and staff
- Change Management - Review process changes/implementation which may impact controls
- This Director level role will manage a team of control officers and will work in close partnership with each of the Operations functional areas and relevant business functions to assess the risk profile of operations processes and develop a robust risk framework that pro-actively identifies and mitigates emerging risks.
- The role is expected to bring thought leadership to the business and be an integral part of the ICG Global Operations Risk & Control team.
- Excellent communication skills are required in order to articulate issues, action plans, etc., often at a senior level. Some external communication/negotiation may be necessary. The individual will have full management responsibility for multiple teams, including management of people, budget and planning. The individual may also be involved or responsible for diverse (cross-discipline) activities.
- Manage a team focused on operational control, monitoring exception reports, data quality oversight and control reporting
- Innovation - develop methods to make the function more efficient and ensure local processes are considered in global initiatives.
- Use communication skills to influence a wide range of internal audiences including product, function, or regional executive management partners
- Relationship Management - Develop strong partnerships within the ISG Operations & Technology groups, as well as other organizations supporting ISG activities (IA, Compliance, etc.)
- Work with the independent ICG O&T control function, Compliance and Internal Audit to ensure compliance with all requirements and timely responses to queries.
- Training - development of a risk and control training and awareness program, including providing guidance on all aspects
- Approvals - Provide review on process changes/implementation which may impact controls - eg. control change and new process acquisition
- Governance and oversight may include (not limited to) other disciplines such as those tied to Technology operational risk, operational resilience, COB and Cyber/ Information security risk.
- Facilitates accurate and appropriate reporting of operational risks to senior management and various senior risk forums.
- 15+ years relevant experience
- Experienced in Operational Risk with experience in loan operations area. Knowledge of other risk disciplines (market risk, credit risk) a plus.
- Demonstrated analytical ability; asks insightful questions, break analytical challenges into workable components and draws meaningful conclusions. Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed.
- Proficient in developing new ideas to mitigate risk and improve current processes.
- Prioritizes high impact potential problems effectively. Consistently reads different situations accurately and takes appropriate action to gain senior colleague/ client commitment. Articulates clearly how risk technology supports unit's business, as well as the issues due to gaps between the current technology and known business requirements. Ability to measure and assess the impact of stress shocks including fat-tailed risks. Well-versed in reviewing the dimensions of franchise risk.
- Advanced Leadership skills Operates as a leader, with an understanding and appreciation for diverse backgrounds.
- Bachelor's/University degree, Master's degree preferred and managerial experience.
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