POSITION OBJECTIVE 

Reporting to the 2nd Line Operational Risk Senior Group Manager, who has responsibility for oversight of US Personal Banking (USPB) Operations. Chief Operating Office (COO) and Customer Experience coverage, this position works closely with 1st Line of Defense including, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions in fulfilling job responsibilities.

The Operational Risk Senior Officer is responsible for leading effective oversight and independent challenge of Citi’s US Personal Banking Collections and Recovery Operations to ensure that the first line of defense can demonstrate effective Risk Management disciplines which includes strong operational risk identification, controls, and monitoring.  This role is expected to independently evaluate key data elements which inform the risk profile of the first line of defense and provide insights specific to trends, themes, control failures or Operational Loss Event drivers in support of continuous monitoring and oversight of the product, function and impacting external third-party suppliers. The Operational Risk Senior Officer performs the role through proactive and direct engagement with 1st line business partners through daily interaction, independent assurance, and participation in key business risk and control forums.

BUSINESS COVERAGE SCOPE

The scope of this role is specific to US Personal Banking Collections and Recovery Operations. Prime interfaces include but are not limited to:

1st line business process/risk ownersUSPB Head of Collections and RecoveryUSPB Operations In-Business Risk and Control HeadsUSPB ORM HeadORM Independent Senior Operational Risk Manager (ISORM) business coverage leads for other US Businesses and FunctionsOther ORM Executive Leadership Team(s) – Foundational Programs or Policy TeamsUSPB Compliance OfficersUSPB Senior Operational Risk ManagersEnterprise ORM Risk Category Owners (e.g., Fraud, Tech & Cyber, Data Management, Model, Third Party Risk).

KEY RESPONSIBILITIES

Governance & Oversight

Ensure business adherence to operational risk policies, standards, and proceduresInfluence Risk Culture within USPB Collections and Recovery Operations and other product/function Control HeadsFoster strong working relationships with first line stakeholders in support of establishing rapport and being viewed as a trusted risk resource and advisor while maintaining and protecting the integrity of an independent, second line of defense coverage modelUnderstand material risks which align with Collections and Recovery processes to ensure that the Business is operating within Risk Appetite by leveraging existing knowledge, resources, and tools to draw accurate and sound conclusions in support of independent challengeTimely and effective escalation of operational risk events and/or control failures with thoughtful approach and ability to effectively influence business actions based on insights and learningsLead the creation and development of risk and control related presentation materials for various governance forums (at many levels of the organization, including Internal Audit and external regulators)Keep abreast of latest operational risk management techniques, industry best practices and thematic trendsLead oversight routine execution of Collections and Recovery Operations

Risk Identification, Analysis & Assessment

The Operational Risk Senior Officer leverages all the core tools that are part of the ORM framework viz., the Manager’s Control Assessment (RCSA), Risk Identification (Material Risk Inventory, Key Indicators, Scenario Analysis, Internal and External Loss Analysis as well as independent Risk Assessments to provide effective oversight and challenge of first line of defense. Risk identification, analysis and assessment of current and emerging issues also requires collaborating with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product. Specifically, the role will require the Operational Senior Risk Officer to:

Proactively analyze various data sources to form an independent assessment/opinion of operational risk with prompt and effective escalation to business leadershipAssess external Third-Party suppliers – including those which provide technology and servicing solutionsIdentify emerging operational risks by relying on monitoring of trends and mining of relevant metrics including business self-assessment, Internal Audit or Compliance reviews, Regulatory exams, internal and external loss data.Continuously assess, monitor, and effectively challenge Operational Risk metrics in Collections and Recovery Operations to ensure Business is taking appropriate action to establish Path to Green or effective remediation.Independently lead Operational Risk Independent Assurance, Control Testing, and Risk and Control framework assessments with an “anticipatory” approach vs. reacting to risk events and develop specific recommendations for the Business to action.Identify changes in business strategy or relevant regulations that may lead to an increase in Operational Risk with initiative-taking engagement with 1st line of defenseAnalyze horizontal Lessons Learned reports completed by the business to ensure that evidence of risk mitigation is evident where action is requiredSupport USPB Scenario Analysis assessment efforts where there are active and open scenarios which require monitoring

               

Risk Mitigation

Challenge business proposed solutions to root causes of Operational Risk Events or control failuresAssess business changes where improvements are required to strengthen risk identification toolsWork as an independent partner to ensure that the business process controls mitigate risk and propose improvements to controls and/or monitoring proactively to prevent operational losses.Challenge business level Issues and Corrective Action Plans to ensure adequate severity level setting, reasonable target dates and effective corrective action plans.

QUALIFICATIONS

Education

Bachelor’s degree, Master’s degree preferred

Knowledge /Experience

Work experience of 10+ years in the financial services industry with in-depth knowledge of Consumer Operations processes, including:Revolving and Installment ProductsCall CenterCollectionsLoss MitigationRecoveryBankruptcyThird-Party Oversight – specifically Collections/Recovery outsourcing risksMinimum of 5 years prior experience in Risk Management (Operational or Credit) preferably in the 2nd line of defense.Strong understanding of US Consumer product regulations, obligations, and requirementsExpertise and experience with business risk and control self-assessment processes (RCSA)Direct engagement with and routine presentation to Internal Audit function and Regulators

 Risk Management skills

Independent thought leader with focus on key operational risks which are most impactful to Consumer Collections and Recovery Operations.Well-versed in breaking down complex matters into core issues and root causes that can be more readily addressed including insightful analysis of relevant objective dataAbility to identify and prioritize high impact risk issues promptly with senior leadersWell versed in developing innovative ideas and improving current processes to create improved effectiveness and/or efficienciesAbility to successfully influence without direct authority across businesses and functionsClear understanding and ability to articulate the processes supporting a business unit’s function, controls, issues, and risks associated with the operations to identify gaps and proactively help deliver ideas for solutions  

Client Relationships/Business Partnerships

History of establishing an effective voice at the table of the senior most Business leaders to function as a valued and respected independent risk partnerAdaptable to change and can navigate organizational complexity; demonstrates organizational savvy and intuitionEffective collaborator and contributor in dynamic and shifting teams as well as virtual ones.

Leadership

Provides leadership in optimization and efficiencies in control practices for the businessFosters collaboration across businesses and across teams within ORM in the resolution of cross business issuesEffectively influences and engages with business and functional managers to mitigate risks  Thinks strategically and articulates concepts clearly considering all relevant and most viable optionsEffective planning and organization skills to ensure that individual and/or team priorities are delivered timely and are high qualitySupports and willing to assist other priority areas across Consumer ORM coverage Makes well-reasoned decisions under pressure Open to others’ ideas or opinions and has the maturity to own mistakes to support lessons learned for future growthContinuously evaluates organizational design and optimizes to meet ORM needs, business objectives as well as people developmentDevelops bench strength and recruits top talent in support of building high performing team

Competencies

Exceptional organizational, communication and presentation skills with ability to operate in fast-paced operating environment.Ability to produce and deliver high quality presentations to business leaders and/or RegulatorsSuperior writing skills in support of high-quality risk summaries which inform risk assessments and Regulatory updates, or Senior level Governance forumsExpert proficiency MS Office applications – specifically PowerPoint and Excel

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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:

New Castle Delaware United States

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Primary Location Full Time Salary Range:

$144,480.00 - $216,720.00

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

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Anticipated Posting Close Date:

Nov 18, 2024

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