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Our mission is to drive comprehensive and consistent practices designed to identify, measure, monitor, report and manage operational risks while promoting the implementation of actions to address root causes, which may lead to unintended operational risk losses.
The Operational Risk Manager is accountable for management of complex/critical/large professional disciplinary areas. Supports ORM Country head to enable leading and directing a team of professionals. Requires a comprehensive understanding of ICG business in order to achieve the objectives of the function.
Applies in-depth understanding of one or more ICG products ( MSS/TTS/CPB) business impact of technical contributions. Generally accountable for delivery of a full range of services to one or more businesses/ geographic regions. Good communication skills required in order to negotiate internally, often at a senior level. Some external communication may be necessary. Accountable for the end results of an area. Exercises control over resources, policy formulation and planning. Primarily affects a sub-function. Involved in short- to medium-term planning of actions and resources for own area.
The ideal candidate will have strong leadership and communication skills, in-depth detailed knowledge on a ICG products products and processes, and robust understanding of local business practices and associated regulatory requirements.
To qualify for this position, individuals must have a minimum of 10-12 years of work experience. It is preferable for the ideal candidate to have at least 5 years of Operational Risk Management experience
Key Responsibilities :
1. Partner with business and functional heads in enhancing the risk management practices and operational risk framework, and further strengthening our control environment. A key area of this role will also be to provide perspectives and advice to products and business functions on existing and emerging operational control risks and helping build a strong risk culture. Also establishes and oversees the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.
2. Work closely with ORM Head to participate in conduct operational risk challenges in the form of Operational Risk Reviews (ORR), new product reviews, MCA/GRC reviews, etc.in order to assist business in mitigating their operational risks.
3. Independently assess risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices to avoid re-occurrence.
4. To participate in regional ORM review or challenges to support operational risk management effort for the region.
5. To obtain data/material and arrange BRCC, preparing minutes of meeting and follow up actions noted.
6. To prepare Operational Risk monitoring report (operational losses, CAP management, GRC, etc.) for various committees meeting such as CCC, CLCC etc., Assist ORM Head to discuss and identify the top franchise concerns/issues through various controls and risk forum.
7. Be back up for ORM Head to attend Committees / Forums meeting conducted by the franchise and/or by Business
8. Ensure to provide oversight in the implementation of operational risk management framework. Work with the businesses, regional management and ORM when operational losses arise to understand the root causes and influence process changes to avoid re-occurrence.
9. Governance and oversight may include (not limited to) technology operational risk, cyber risk for example. Serves as an oversight function working with the In-Business OR and Independent Risk Teams
10. Liaises with In-Business OR on breaches and action steps to correct breaches .
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, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Providing senior management with an independent view of the firm's operational risk profile.
Review & Approve the content of Product Approval documents that significant operational risks relating to the New Product/Service have been identified and that adequate controls to mitigate these risks have been identified and documented within the Product Approval document. Document the justification for ORM approval and the rationale if any follow up conditions (one time or ongoing) are deemed necessary.
Attend Post Implementation Review to ensure that execution and implementation of a proposal approved by New Product Approval Committee (NPAC) or existing business or service is proceeding as intended.
Driving initiatives aimed at strengthening controls to enable effective decision making about products and services.
Report operational risks (including Risk Appetite KI breaches) as part of ORM's regular management reporting and briefings to the appropriate Country Audit / Risk Committees.
Challenge selection, development, and execution of scenario analysis.
Challenge the effectiveness of BRCCs and other operational risk and control forums
Bachelor's/University degree, Master's degree preferred (majors in in Economics, Finance, Statistics or related areas are preferred, but different majors are also of interest if other experience demonstrates quantitative and analytical skills)
Extensive knowledge of financial markets and products; extensive work experience in the financial services industry
Analytical inquisitiveness and problem solving ability; an ability to ask insightful questions, break analytical challenges into workable components and draw meaningful conclusions
10-12 years of work experience
Solution-oriented, consensus builder, strong leadership, influencing and negotiation skills
Well-versed in breaking down complex matters into core issues and root causes that can be more readily addressed
Proficient in developing new ideas to mitigate risk and improve current processes. Ability to prioritize high impact potential problems effectively
Leading, or co-leading, all regulatory discussions
Strong analytical skills applicable across ICG business and products
Strong Leadership Skills:
Focuses and guides the priorities of others. Makes well-reasoned decisions under pressure
Experienced - Able to identify and influence key decision makers across various levels and functions within the organization; diffuse conflict and work toward agreement
Acts as a leader with an understanding and appreciation for diverse backgrounds.
Provides leadership in optimization and efficiencies in control practices for the business as well as the resolution of cross business issues. Engages business and functional managers to mitigate risks.
Excellent Communication Skills:
Both verbal and written
Experienced in using active listening techniques on a consistent basis.
Builds partnerships across functions and regions; collaborates well with others.
Networks regularly and builds relationships across Risk disciplines and with businesses.
Job Family Group: Risk Management
Job Family: Operational Risk
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