The Compliance Business Control Intermediate Analyst is a developing professional role. Deals with most problems independently and has some latitude to solve complex problems. Integrates in-depth specialty area knowledge with a solid understanding of industry standards and practices. Good understanding of how the team and area integrate with others in accomplishing the objectives of the subfunction/ job family. Applies analytical thinking and knowledge of data analysis tools and methodologies. Requires attention to detail when making judgments and recommendations based on the analysis of factual information. Typically deals with variable issues with potentially broader business impact. Applies professional judgment when interpreting data and results. Breaks down information in a systematic and communicable manner. Developed communication and diplomacy skills are required in order to exchange potentially complex/sensitive information. Moderate but direct impact through close contact with the businesses' core activities. Quality and timeliness of service provided will affect the effectiveness of own team and other closely related teams.
Responsibilities:
- Contributes to the resolution of cross-functional or cross business issues designed to ensure business compliance with laws, regulations, and policy requirements across key/complex risk levels.
- Utilizes the Issue Management processes and project management methodology from the initiation, planning, control requirements, execution, and closing phases of each issue.
- May support any area of the business (organizationally, regionally or product-wise) from an issue/project perspective.
- Liaises with Senior Business Level Officers, Legal, Risk, and Compliance regarding complex matters.
- Conducts targeted, mandatory or ad hoc Control Tests & Reviews for a department or group.
- Resolves problems or transactions where expertise is required to interpret problems/transactions against policies, guidelines or processes.
- Analyzes documentation and processes to ensure risks and control points are properly addressed, and are in accordance with Risk and Control Self-Assessments Policies.
- Contributes to work flow or process change and redesign.
- May be accountable for regular reporting or process administration.
- Forms a strong understanding of specific function or area.
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
Qualifications:
- 2-5 years of relevant control and/or project experience
- High attention to detail and quality
- Consistently demonstrates clear and concise written and verbal communication skills
- Proficient in Microsoft Office with an emphasis on MS Excel
- Demonstrated analytical and problem-solving skills.
- Effective planning and organizational skills
- Proven ability to make sound business decisions
- Experience in creating and implementing processes that result in improved business performance
- Ability to present a compelling case for ideas and initiatives through listening and articulating a convincing point of view
Education:
- Bachelor's/University degree or equivalent experience
Job Responsibilities
The Consumer Bank Operational Risk and Control Manager is responsible to develop a strong control and compliance environment for the Retail Banking group to achieve permanent "audit readiness" balancing the business needs and environment and potential sales practice concerns identified from the various control monitoring channels of complaints, surveillance, client surveys, mystery shopping and business escalated staff sales conduct concern cases. You will work with business stakeholders to formulate corrective actions or behavioral controls measures to mitigate the sales practices conduct risk.
SALES PRACTICES CONDUCT RISK GOVERNANCE
- Administer monthly CSL governance forums on Fair Dealing Guidelines, Board of Directors review on CSL Fair Dealing quarterly updates and Regional Sales Practice Review (SPR) case reporting for Retail bank.
- Coordinate with business stakeholders for product launches, surveillance reviews and complaint analysis and trend performance for fair dealing review. Minute the Fair Dealing governance forums and liaise with the business teams on completion of follow up items.
- Conduct investigation and analysis of SPR cases from various channels such as complaints, mystery shopping, surveillance, account opening and upgrades incentives exception review, and prepare case material for SPR review governance forums.
- Formulate corrective action and control procedures with the business to mitigate sales practices conduct risk, including training, monitoring, management reporting and sales platforms communication.
- Responsible for Semi- annual MAS FAA Complaint reporting, Annual MAS FAA questionnaire on FAA Complaints and on investment and insurance sales surveillance.
- Assist the business in all audit reviews by internal and external auditors including regulatory audits.
COMPLAINTS HANDLING
Investigate Retail Banking investment and insurance advisory and service complaints, including FIDREC and MAS escalated complaints and tracked for proper closure within stipulated timeline.
- Review relevant sales documentations, transaction and call contact records, and conduct interviews with client and advisor as part of investigation, to check if sales advisors adhere to the bank's sales process and determine root cause of concerns.
- Track timeliness of logging, update and closure of complaints logs, ensure quality of disposition in the investigation results and prepare management and regional reporting of investment and insurance complaints and statistics for trend analysis.
- Maintain proper documentation and records for each complaint handled with the Sales Complaint Investigation Report form and track for compliance with established Complaint handling procedures.
- Conduct regular review of complaint handling process for effective management of sales complaints handling and update sales complaint handling procedure.
- Identify process control gaps and champion change management initiatives including sending out process reminder emails and process refinement to reduce potential repeat of similar complaints in future.
- Review substantiated complaint cases for preparation of business disciplinary committee review on staff action to be taken or any regulatory mis-conduct reporting to be made. Prepare case report for Complaints Sales Practice Review.
- Prepare all monthly complaint reporting and quarterly self-assessment on timeliness and quality of complaint handling.
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