CITI Hiring for Operational Risk Manager at Mumbai, Maharashtra, India Full Time

Job Description

The Operational Risk Sr Officer I is a strategic professional who closely follows latest trends in own field and adapts them for application within own job and the business. Typically a small number of people within the business that provide the same level of expertise. Excellent communication skills required in order to negotiate internally, often at a senior level. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Accountable for significant direct business results or authoritative advice regarding the operations of the business. Necessitates a degree of responsibility over technical strategy. Primarily affects a sub-function. Responsible for handling staff management issues, including resource management and allocation of work within the team/project.

Responsibilities:

• 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.
• independently asses risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
• Governance and oversight may include (not limited to) technology operational risk, cyber risk for example.
• Serves as a subject matter expert for all performance issues that surface.
• Issues Management (KPI/KRI/Corrective Action Plans)
• Resolves transactional level escalations coming from the vendor or internal partners
• Analyzes a multitude of scorecards/performance management tools in an attempt to mitigate exposure (risk/financial/regulatory)
• Monitors goals are met through performance, risk and relationship oversight of our extended supply chain and ensures compliance
• Collaborates to resolve any issues which fall within the terms of the contract. Escalate those that require commercial or legal support.
• Develops and maintains relationships across the business users and Lines of Defense to better understand and deliver customer requirements by responding to changes in the internal and external business environment
• 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:

• 10+ years relevant experience
• Outstanding communication and influencing skills through all levels of the organization and with external partners and vendors. Exceptional relationship management skills; must be able to address and resolve conflict while maintaining relationships. In depth knowledge of Mortgage Servicing Operational processes and technology platforms supporting the Operations. Ability to effectively communicate complex topics to a broad audience.
• Detailed oriented with analytical skills, as the role requires a large amount of data manipulation and presentation. Expert in Microsoft Office Tools.
• Third Party Oversight/Vendor Oversight experience preferred

Education:

• Bachelor’s/University degree, Master’s degree preferred

Core Responsibilities:

• Provide ORM coverage for ICG businesses across all legal vehicles in India, covering BCMA, Markets, Treasury Trade Solutions, Securities Services, including related back office and support functions. Work in tandem with key stakeholders in the country to proactively identify, analyze and mitigate risks, implement, and assess controls, prevent losses and assist recoveries, improve effectiveness of MCA, and support the first line in managing operational risk situations as they arise.
• Providing ORM coverage for the Bangladesh Franchise as Head of ORM.

Key responsibilities include: Ensuring compliance with ORM Policy and Standards and local regulatory ORM requirements for all legal vehicles in India & Bangladesh . Key aspects of the responsibilities include :

• Establishing and overseeing the implementation and maintenance of the operational risk management framework including: local policies, standards, technology and tools, monitoring and governance
• Independently challenging the management of operational risk including existing and proposed practices and working as independent risk managers to drive improved control processes
• Providing an enterprise-wide assessment framework for significant current and emerging operational risks, including monitoring that actions are in place to mitigate exposure within risk appetite
• Identifying, assessing, anticipating, measuring, reporting and mitigating operational risk exposure
• Reviewing country operational risk capital assessments and allocations as well as stress testing loss projections.
• Driving initiatives aimed at strengthening controls to enable effective decision making about products and services
• Providing senior management and the Board of Directors with an independent view of the firm’s operational risk profile.

Skills:

• The candidate must have in-depth, detailed knowledge of ICG products and services; and domain experience in at least one of the key operational risk areas (such as Regulatory, Risk Governance, Framework, Risk capacity / stress testing, Risk Appetite, Risk policies, Risk culture, Risk identification life cycle – identification, control design assessment, Risk reporting, Capital etc.)
• Broadened knowledge in general financial services regulations and application of law
• Self-Starter who can work without close supervision, proactive and entrepreneurial
• Adaptive – demonstrates flexibility and a positive attitude change. Ability to deal with ambiguity and work in a non-structured environment
• Enthusiasm and Energy – combined with a clear sense of how to ‘make it happen’ through teamwork and senior management engagement and commitment
• Cognitive skills – able to employ strong analytical skills; thinks strategically about complex problems and how to solve them; thinks creatively to find unconventional solutions
• Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed
• Has led and/or successfully influenced cross-functional and/or geographically diverse initiatives
• Considers broad implications of decisions on different functions and units
• Prior experience in Operational Risk management, Risk Assurance, Risk Consulting, Project Management, or Process Management roles. (preferred)

Strong Leadership Skills:

• Proven ability to interact credibly with senior stakeholders; regulatory interaction
• Able to provide concrete examples of Citi leadership standards in their role
• Makes well-reasoned decisions under pressure
• Experienced negotiator – 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

Excellent Communication Skills:

• Executive presence, Strong communication skills – ability to craft compelling presentations, to a very high standard, together with the ability to present and communicate issues clearly and convincingly
• Experiences in using active listening techniques on a consistent basis

Client Relationship/Business Partnerships:

• Navigates organizational complexity; demonstrates organizational savvy
• 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 – Time Type: Full time – Citi is an equal opportunity and affirmative action employer. Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Citigroup Inc. and its subsidiaries (“Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi. View the “EEO is the Law” poster. View the EEO is the Law Supplement. View the EEO Policy Statement. View the Pay Transparency Posting