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Investment Products Risk (IPR) within Global Risk Management is responsible for managing the risks associated with the manufacture and distribution of investment and insurance products and services to retail clients.
Investment products include products such as mutual funds, bonds, listed equities and ETFs, structured products, derivatives, alternative investments, and other capital markets products. Insurance products include credit/creditor insurance and all life and general insurance products.
The candidate is expected to have working knowledge of investment and/ or insurance products, markets, and issues that impact our clients and the firm. IPR professionals are expected to keep abreast of developments in the wealth management and insurance industries, macroeconomic environment, and the financial markets. The candidate will be involved in key aspects of investment/ insurance products and related businesses - from product development and approval through product performance analysis and ongoing monitoring.
The candidate will be a critical member of IPR and will be heavily engaged in a wide range of initiatives to manage investment and insurance products risk across Citi. The role will report into the Asia IPR Head and will require frequent interaction with representatives from businesses and other functional areas.
Investment Products (Time Allocation: 70%)
Review and assign product ratings as required based upon product attributes and due diligence review.
Review and intervene as required on product rating changes.
Work closely with businesses to ensure country systems accurately reflect investment product ratings assigned in IPR's rating repository.
In collaboration with the Global IPR team, establish processes for consistent and ongoing investment product/ advisory risk monitoring across Asia and EMEA businesses.
Liaise with regional control functions, in-business control and surveillance functions.
Investigate anomalies found through monthly and quarterly business monitoring, liaise with businesses and IPR Reporting and Analysis team for root cause identification of key issues, along with agreement and oversight of corrective action plans thereafter.
Planning and Consultation
Engage with other Global IPR Chairs of Global and Regional DPACs as well as other control functions and business heads across regions to identify and resolve emerging issues.
Advise businesses on implementing, improving and maintaining risk management best practices, and identify, address and resolve issues. Where necessary, ensure escalation to Senior Management.
Assist with advising businesses on product development and innovation to ensure compliance to Citi policies pertaining to distribution of investment products, and in consideration of country and global regulatory requirements.
Insurance Products (Time Allocation: 30%)
Work with the team to review and monitor risk metrics for insurance products and services across retail channels.
Evaluate risk tools in place or needed to effectively identify, address and monitor risk issues with appropriate escalation. Enhance these tools with business participation, as needed.
Assist in the ongoing review of Insurance Product Programs and Providers, liaising with the business to provide feedback and inputs, as needed.
Advise businesses on implementing, improving and maintaining risk management best practices, and identify, address and resolve issues. Where necessary, ensure appropriate escalation.
3-4 years' work experience.
Bachelor's degree. Advanced degree in business, finance, law or economics desirable.
Exposure to wealth management and/ or insurance products.
Strong communication skills - oral and written presentation. Proficiency in Microsoft Office tools (Word, PowerPoint, Excel).
Ability to drive tasks through to completion. Open to expanding responsibilities outside of direct experience.
Intellectually curious. Eager to learn about insurance and investment products and services.
Team-player with ability to connect with people across functions and create and maintain strong relationships.
Strong quantitative and analytical capabilities.
Flexibility in thought and approach; Ability to see the "big picture" without losing attention to detail
Strong ethical and moral compass.
Attuned to macro-economic, industry and regulatory events/trends