Operational Risk Management Framework - Operational Risk Group Manager - SVP

Citigroup   •  

Buffalo, NY

Industry: Accounting, Finance & Insurance


8 - 10 years

Posted 250 days ago

This job is no longer available.


About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

The position is in the Operational Risk Management’s (ORM) Framework group. The group is responsible for design and oversight of Citi's Framework for managing Operational Risk, a program designed to identify, assess, monitor, measure and report operational risk on a consistent basis across businesses, regions, and legal entities. In this role the individual will lead activities relating to the development and implementation oversight of the ORM Policy Framework.

Job Purpose
Provide development and oversight of the global operational risk management framework including its Policy and Standards and structure for primary Committees and Working Groups in support of Operational Risk Management’s mission and objectives. Support ongoing operation of selected Committees and Working Groups and ongoing assessment and reporting of Framework implementation.

Job Background/Context

  • Operational Risk Management is an organization within Citi’s independent Risk Management organization
  • Operational Risk’s Mission is to work proactively with businesses and global functions to enhance the effectiveness of controls and to embed a strong operational risk management culture and framework across Citi. Operational Risk is responsible for identifying, anticipating and mitigating risks that could impact business objectives, and minimizing operational riskevents and losses 
  • Operational Risk’s objective is to promote continuous improvement in the design and application of operational risk management activities by: 
    • Establishing and overseeing the application of operational risk policies, technology and tools, and governance processes 
    • Monitoring and assessing the effectiveness of risk mitigation tools including internal controls 
    • Maintaining an enterprise-wide assessment of the most significant, current, and emerging operational risks to business activities, and ensuring appropriate actions are in place to mitigate these risks 
    • Identifying, anticipating, measuring, mitigating and reporting Citi’s operational risk exposure
    • Determining operational risk capital requirements and allocations

Key Responsibilities

  • Coordinate globally with Operational Risk Management staff and In-Business Risk Managers to ensure that the Framework requirements are as needed and fulfilled, and that changes needed in the Policy Framework are drafted, socialized, and reviewed and approved in appropriate governance forums
  • Draft (originate new content) for the ORM Policy and Standards, and edit drafting of others, to ensure that regulatory and business/management objectives and constraints are met, and facilitate achievement of consensus in large, diverse teams
  • Work with partners in ORM and other Risk disciplines to ensure that the Framework design supports integration of various processes / elements (e.g., Key Operational Risks (KORs), Material Operational Risks (MORs), Material Risk Inventory items (MRIs), Risk Appetite, MCA, etc.) 
  • Define user requirements related to technology applications supporting the Framework 
  • Manage and oversee the approval processes for Policy exceptions
  • Define agenda, prepare and/or oversee preparation of materials and minutes for the ORM key governance Committees and selected Working Groups, and lead portions of the meetings in selected forums
  • Conduct annual Policy review and report on results to ORM Management, the Citi Policy Committee, and Risk Management’s Policy Group
  • Develop and maintain standards and/or guidelines for Business / Function compliance with the Framework. Review and ensure processes are in place to maintain sufficient business procedures and maintain central repository, with review, of key documents
  • Support delivery of responses to targeted regulatory and internal audit reviews 
  • Review and report on overall adherence to Policy across Citi and escalate open issues for resolution. Coordinate execution of the program including development and delivery of regular reporting for Management on compliance with program requirements and ensure corrective action plans and/or policy exceptions exist as needed
  • Oversee periodic coordination of gap analyses to regulatory rules/requirements and that gaps have established action plans and are monitored
  • Review and prepare recommendation for consolidated approval of quarterly KORs and MRIs to the Citi head of ORM
  • Drive/ensure timely and complete response to regulatory and audit requests on the Policy Framework and Risk Identification related processes that support CCAR/DFAST
  • Define Policy Framework training needs and design materials to support overall Program delivery
  • Represent ORM on cross functional working groups, as required
  • Manage directly or indirectly one or more officers on the ORM Framework team



  • Experience in communicating effectively, orally and in writing, across large organizations
  • Knowledge of financial services industry products (7+ years of industry experience), with knowledge of the Citi organization and global products a significant plus
  • Knowledge of Operational Risk Management policy, risk identification processes, and risk and control assessment processes highly desired
  • Experience managing projects and disparate, large teams collaboratively
  • Experience specifying technology and reporting requirements from a user perspective


  • Excellent oral and outstanding written communication skills
  • Strong organizational and project planning skills
  • Ability to generate and present new ideas and propose new alternatives for discussion 
  • Ability to manage large, disparate project teams in a collaborative fashion.
  • Strong analytical skills 
  • Ability to manage a high workload and tight, firm deadlines in a dynamic work environment
  • Ability to offer guidance with the judgment to escalate as needed
  • Outstanding attention to detail
  • Self-starter with a high level of initiative and ability to self-manage to deadlines
  • Excellent general computer skills including experience and interest in using MS Word with large complex documents, PowerPoint for effective senior management communication, and Excel for manipulation are large data sets


  • Bachelordegree with a minimum GPA of at least 3.0
  • Masters degree in a relevant field with GPA of at least 3.0
  • 5+ years of relevant industry experience
  • Ability to excel in a fast paced environment, with large workloads and dynamic priorities
  • Commitment to the organization and its mission
  • Commitment to team work 
  • Knowledge of the financial services industry’s regulatory environment
  • Strong people management skills


  • Ability to prioritize as the immediate needs of the business change
  • Resolves and/or escalates effectively
  • Builds relationships effectively
  • Dedication to excellence 
  • Independence, maturity, and communication skills to work in and lead teams that are geographically dispersed 
  • Ability to listen, consider alternatives, originate solutions, and compromise when appropriate
  • Calm and comfortable under pressure

ID: 18025569