Operational Risk Senior Manager - ICG Markets and Securities Services - Director

Citigroup   •  

New York, NY

11 - 15 years

Posted 212 days ago

This job is no longer available.


About CitiCiti, 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 offinancial products and services, including consumerbanking and credit, corporate andinvestmentbanking, securities brokerage, transaction services, andwealth management. Our core activities are safeguarding assets, lending money, making payments and accessing thecapital markets on behalf of our clients.Citi’sMission and Value Propositionexplain what we do andCiti Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providingfinancial 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 samediversity at all levels. Citi has made it a priority to foster a culture where the best peoplewant 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.This role is on a team that provides oversight andrisk management coverage for the ICG Management Segment insupport of the Global Head of ICG ORM, specifically coverage for the Markets and Securities Services business activities. This teamreports to the Global Head of ICG ORM, andworks closely with In-BusinessRisk Management and Control and the ORM Business Coverage teams that cover global products.ORM Framework Implementation Development and Oversight ResponsibilitiesOperational Risk’s primary responsibility is to ensure that Citi has an effective operationalriskframework in accordance with BASEL AMA Sound Practices.  The Business Coverage team interacts with the ORM Foundation Team to execute on this responsibility by:

  • Providing input into operational risk framework program and policy development
  • Facilitating adherence to Op Risk specific regulatory requirements through proper usage of tools and participation in programs (e.g Scenario Analysis)
  • Championing usage of tools for risk management purposes with the business as well as challenging their tool usage
  • Acting as an escalation point to senior management for framework implementation deficiencies and general navigation of the organization
  • Articulating requirements for tool enhancement and creation
  • Participating in delivering operational risk framework training

BusinessRisk Management ResponsibilitiesGovernance & Oversight

  • Meet with business management leadership on a regular basis and build stature and strong relationships to be a valued and respected partner.
  • Represent Operational Risk at senior level governances such as Business Risk Reviews and Business, Risk, Compliance and Control Committees
  • Interface with regulators, Internal Audit and Operations and TechnologyRisk Management (1st Line)
  • Escalate operational riskevents as appropriate
  • Establish minimum risk standards for a product

Risk Identification Analysis & Assessment:

  • Work with other second line of defense functions in the identification, analysis and assessment of operational issues and emerging risks as relevant for individual businesses
  • Identify trends, themes, tendencies that indicate emerging operational risks:
  • Proactively analyze various data sources to form an independent assessment/opinion of operational risk
  • Use leading indicators and metrics to identify areas of potential and emerging risk
  • Leverage knowledge of the current economic, regulatory, and business  environment to proactively identify potential risk and develop specific recommendations for the Business to action
  • Identify changes in business strategy, market conditions, industry trends, regulatory environment, country macro-economic factors, etc. that may lead to an increase in Op Risk
  • Op Loss Analysis: understand how losses were incurred, determine lessons learned, identify root causes and use for risk mitigation activities as outlined below

Risk Approvals:

  • Review and approve new product proposals/product programs as well as the sale or purchase of any business as required as part of or outside the NPAC  process
  • Add other approval examples from Policy

Risk Mitigation:

  • Drive solutions to root causes that potentially can lead to op risk
  • Develop actions or, as appropriate, projects to apply lessons learned across a product, business, segment, country or region. 
  • Work as an independent partner to mitigate risk and improve processes and controls
  • Work with the business to take action to mitigate op risks before they materialize into op losses
  • Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans
  • Make control recommendations based on thematic reviews or event root cause analysis and ensure CAPs developed and implemented

Ongoing Monitoring Activities:

  • For those areas where potential risk has been assessed to have increased or is high, determine if a deep dive and/or specific review is required.
  • Continuously monitor and review relevant data, reports, and trends to support Operational Risk profile assessment and trigger actions such as Capital Top-ups.  In particular, operational riskevents, indicators, assessment and audit results, business strategy, etc.
  • Stay informed and current on news related to financial markets/industry, segment, region, country (depending on area of coverage).  Take into consideration the potential impact from an op risk perspective to re-evaluate the risk profile of the coverage area.



  • Proven leadership skills and ability to lead teams effectively
  • Strong understanding of Operational Risk Management framework and capital considerations
  • Proven ability to drive change the bank initiatives and integrate into business as usual practices at conclusion
  • Strong understanding of standard practices supporting Capital Markets businesses, including clearing and settlement cycles, confirmation processes and industry best practices in Operations.
  • Risk Managementexperience and robust understanding of the construction of an effective control environment.
  • Superior communication, facilitation and consensus-building skills.  Ability to effectively communicate with senior firm leadership.
  • Demonstrated relationship-building skills, with a superior ability to make things happen through the use of positive influence
  • High degree of personal initiative
  • Organizational awareness with an understanding of how to engage the organization to achieve results
  • Strong problem-solving skills; comfortable tackling complex problems and breaking these down into manageable pieces
  • Superior multi-tasking skills and the ability to work in a fast-paced, often deadline-oriented and dynamic environment
  • Craft messages and concepts to Regulators and Internal Audit  
  • Conceptual and practical thinking and implementation skills
  • Process design and analysis skills
  • Research, analysis and judgment skills
  • Strong PowerPoint skills, intermediate Excel skills
  • 12+ years relevant industry or risk management experience and/or accreditation.  Experience in Markets and Securities Services products preferred.
  • Project management experience

Education and Accreditation

  • Undergraduate or graduate degree

Skills Category

  • Analytical skills
  • Business intelligence
  • Effective Communication
  • Interpersonal Skills
  • Organizational Intelligence
  • Relationship Management
  • Time Management

Job ID: 18025896