Wealth (CGW) Manager's Control Assessment (MCA) Transformation Manager
Location: Singapore, Singapore
Type: Full Time
Internal Number: 20384561
Citi Wealth is an integration of Citi Private Bank and the Consumer Wealth organization into a single platform enabling Citi to serve its clients across the wealth spectrum and capitalize on Citi's industry leading capabilities to support the goal of Wealth, which is to be the leading wealth management provider globally. As we embark on this journey, it is imperative to have a strong Risk & Control framework, supporting this goal through an independent but integral Internal Control organization.
Citi's Wealth CAO organization enables to achieve sustainable client-driven growth within risk appetite, champion business compliance with laws, rules, regulations and policies, Identify, assess and manage risk of sustained impact to business strategic objectives, provide oversight to mitigate negative public opinion impacting financial condition and resiliency and Drive optimization of controls and monitoring through industrial scale of automation.
Reporting to Wealth MCA & Control Architecture & In-Business Regulatory Risk Management Lead, this role is responsible for driving execution of Global Transformation activities across Manager's Control Assessment (MCA) program to fulfill OCC and FRB Consent Order (CO) requirements across Asia Wealth (SG, HK, IPBSG, Asia Citi Private Bank).
This is a high visibility individual contributor role requiring extensive interaction with Business Heads, Risk & Control teams and cross functional partners at Global, Region and Country teams to ensure effective identification and management of operational risks and effectual implementation and monitoring of controls, and managing country resources to drive focused execution on regulatory and policy requirements and deliver best-in-class standardized, streamlined and simplified MCA capabilities across the organization to strengthen the control environment
Be a key contributor in the implementation of a highly centralized Wealth GRC team to restructure, simplify and standardize the content of our MCA and related operational risk disciplines across CGW in line with Global CGW MCA Simplification and Transformation Program. The designed targeted operating model will provide a greater focus on top-down guidance on the restructuring and execution of GRC framework components with a specific focus on the following activities:
Adoption of CEAM and Control Taxonomy across all the Assessment Units
MCA Content Uplift including content hygiene and end to end process reviews
Alignment to Minimum Control Design requirements, Adoption of CARAM procedures and alignment of controls to CARAM requirements
Adoption of new Inherent Risk Rating Methodology
Alignment of Control Assessment Methodology including Citi Control Standards
Assisting in review and reporting of the MCA results in the various governance forums.
Any other Transformation milestones
Leading MCA data normalization and stabilization efforts including Quality Control (QC) program execution by engaging the relevant stakeholders in countries and region. Overall improve the quality of Wealth MCA execution to ensure that MCA program accurately assesses and reports the effectiveness of the control environment, identify weakness in internal control design and execution. This includes improvements to Activity, Risk, Control and Monitoring (ARCM) data quality and a strategic review on evaluation of the granularity of the activities captured in MCA and taxonomy adherence.
Driving effective oversight of Wealth Management Governance Entity and Assessment Unit architecture- creation, deletion, and maintenance of Assessment Units (AUs) and MCA Governance Entity (MGEs) and migration to Global Assessment Unit Structure.
Manage and monitor the performance of multiple programs of work and collaborate with the Transformation Lead to ensure program scope is aligned with target state to reduce risk and close identified gaps.
Provide consistent monitoring, escalation and diligent check and challenge from conception to closure of critical milestones
Manage and prioritize projects based on business needs and identify opportunities to improve efficiencies and drive continuous improvement
Ensure all stakeholders are identified and included in scope definition activities, and communication of execution timeline and key milestones. This includes the ability to effectively work internal audit and compliance independent validation to confirm a common understanding of the artifacts and deliverables need to support related testing and validation activities.
8-10 years relevant work experience in Business Risk & Controls
Good knowledge of Consumer / Private Bank product offering, services, policies, procedures, regulations, systems, and technologies.
Proven experience with process simplification, reengineering, and automation efforts.
Track record of successful implementation of complex control programs and process improvement initiatives across multiple geographies
Good understanding of operational risk and control processes and procedures.
Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
Strong influencing and negotiation skills. Ability to explore alternatives and positions to reach outcomes that are supported and accepted by various parties.
Proactive and Dynamic with a strategic mindset. Able to identify and resolve issues quickly and effectively.
Ability to work effectively in situations requiring analytical, interpretive, and problem-solving techniques.
Strong interpersonal skills, situational awareness, and emotional intelligence
Bachelor's/University degree or equivalent experience, potentially Masters degree
Job Family Group: Risk Management -------------------------------------------------
Job Family: Business Risk & Control ------------------------------------------------------
Time Type: Full time ------------------------------------------------------
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