The Singapore Chief Risk Officer (CRO) will be a member of the Independent Risk Management organization (Second Line of Defense [LOD]) and serves as the single point of contact for franchise-level risk matters relating to the businesses and legal entities operating in the country. The CRO will have direct reporting to the APAC CRO and matrix reporting line into the Singapore Citi Country Officer (CCO). The CRO is also accountable to the respective legal entity Chief Executive Officer (CEO) and Board of Directors, where the CRO is identified as the senior manager.
The Singapore CRO represents the interests of all Singapore legal entities in Risk Management and regulatory matters, while ensuring timely escalation and resolution of franchise-level risk issues. The Singapore CRO will be principally responsible for establishing and implementing the risk management framework to identify, monitor, and manage risks. The Singapore CRO partners closely with the APAC Chief Risk Officer and other members of the Regional Risk Management senior leadership team on regional projects and initiatives.
The Singapore CRO will be supported by the 2nd LOD risk managers from the respective risk stripes (Credit, Market, Liquidity, and Operational), who will have a matrix reporting to the Singapore CRO, while reporting directly to their respective regional independent risk functional chain as well.
Key responsibilities of the Singapore CRO are as follows.
Serve as the primary 2nd LOD representative of Independent Risk Manager for all franchise-level risk issues, covering Citigroup's key principal risks as defined in the Risk Governance Framework - Credit, Market, Liquidity, Operational, Reputational and Strategic risks (coverage of Compliance risk is led by ICRM).
Provide oversight for the Independent Risk Management organization for all businesses, risk segments, and legal entities in Singapore; support franchise strategy to operate within acceptable risk parameters and appetite and in compliance with Citigroup Risk standards and local regulatory policies and guidelines.
Co-Chair the Country Risk Management Committee (or equivalent) to monitor and address aggregate risk issues across multiple risk stripes
As the CSL CRO, serve as the single point of contact for the CSL Board and be responsible for effectively providing 2nd LOD independent risk oversight for all risk stripes impacting CSL (including credit, market, liquidity, operational, reputational, strategic)
Serve as the primary 2nd LOD representative of Independent Risk Management on applicable local and regional committees, and councils (e.g. CCC, ALCO, BRCC, CRMC, etc.)
Ensure risk oversight at the legal vehicle and subsidiaries levels
Identify and champion cross-sector/product utilities to deliver efficiencies and improve quality of Risk Management support; support re-engineering opportunities for the Risk organization
Coordinate the identification, sharing, and vetting of common risk concerns and sensitivities and the development of coordinated solutions in response to factors such as adverse developments in local regulatory and political landscapes and deterioration in industry lending practices
Act as the primary 2nd LOD Independent Risk Management partner to the Singapore CCO on risk-related regulatory matters
Provide guidance to the Singapore CCO and other senior managers on risk requirements and potential implications on business strategies and initiatives.
Facilitate and coordinate risk-related responses to inquiries and requests from regulators
Ensure involvement of the appropriate local risk experts in vetting and resolving regulatory issues
Engage internal counsel and Government Affairs on advocacy efforts related to regulations that affect the Firm's risk-taking initiatives as needed
Partner with Country CFO on key projects, including BCBS239, MAS610, Basel compliance, etc.
Execute the following duties for comprehensive and independent risk management
Ensure compliance with Risk Management policies, standards, guidelines, and best practices within the relevant Businesses; act as the focal point for best practice and knowledge sharing across the businesses
Ensure compliance with current and future internal governance standards at the legal entity and country levels, as applicable to Risk Management
Responsible for identifying, monitoring, aggregating, and reporting key existing and emerging risks in the businesses and portfolios to the senior Country and Regional management teams
Drive the development and implementation of stress testing for businesses and portfolios to ensure that risk exposure is appropriately sized relative to business size and risk appetite and in compliance with internal stress testing-related frameworks and procedures
Drive the implementation of enhancements to the legal entity framework, including the creation of legal entity-specific risk governance framework documentation and establishment and monitoring of risk appetite and limits
Review and analyze risk limits, controls, and policies; provide information to senior management in a timely manner
Ensure adequate staffing, training, and talent development within the Singapore Risk Management organization
Experience and Qualifications:
15+ years Risk Management or related experience
Bachelors or equivalent, Masters' Degree preferred; relevant certifications such as CPA, CFA, FRM, or similar are desirable
Time Type: Full time ------------------------------------------------------
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