Director - Operations Risk & Control Legal Entity Oversight Head - London

Citi ,
London, Greater London
More Details

Overview

Job Description

The Operations Control Legal Vehicle Oversight team is responsible for maintaining and developing a comprehensive process and governance framework to identify, report and reduce operational risk at Legal Vehicle level within Operations & Technology. As the manager of the Operations Control Legal Vehicle Oversight team, the incumbent will be responsible for the strategic direction of the team, and the framework used to report operational and other risk indicators to Operations & Technology Senior Management Initial focus will be on the governance requirements relating to the UK Senior Manager Regime in direct support of the O&T Senior Management Function holder (Also the EMEA O&T Head) but will expand to cover other Citi's Operating Material Legal Entities (OMLEs) in the future. Risk areas include but are not limited to Operational process, Regulatory requirements, Internal Policy adherence, new business initiatives and infrastructure change management. Partnering with operations line staff, this role will be responsible for assisting in the proactive management of operating risk and remediation of control issues identified through management oversight. This requires co-ordination across multiple internal operations & technology teams, as well as various other support and control groups within the organisation. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. May be doing involved or responsible for diverse (cross-discipline) activities. Will be a direct reporting into the EMEA ICG O&T Risk & Controls head and will be an intergral member of the leadership team within the organisation **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. + Works with colleagues in other areas of Risk Management, Finance, Compliance/Control and the Businesses to assure appropriate management of Operational Risk processes: + Facilitates accurate and appropriate reporting of operational risks to senior management and the Board of Directors. + Promotes the use of risk indicators. + Supports corporate initiatives, including those related to Operational Risk and the alignment of capital assessments with risk management objectives. + Drives the strategic direction of Operational Risk Management for the Consumer group, working with colleagues around the globe to: + Identifies emerging operational risks in the context of the current economic, regulatory and business environment and assure that measures are being taken to mitigate these risks. + Analyzes operational risk data (typically losses, metrics or assessment results) to identify areas of excessive risk and to ensure that mitigation efforts are having the desired effect(s). + Investigates causes for metrics that are deviating from trends and escalate situations that pose excessive risk(s). + Identifies root causes of major internal losses and ensure actions are taken to reduce the risk of loss from similar causes. + Upholds the Operational Risk Policy: + Provides Operational Risk oversight to assure policy and regulatory compliance. + Facilitates adherence to specific regulatory requirements for the Consumer franchise, including the International Convergence of Capital Measurement and Capital Standards ('Basel II'). + Interfaces with Regulators on Operational Risk matters. + 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. **Qualifications:** + 10+ years relevant experience + Experienced in Operational Risk. Knowledge of other risk disciplines a plus + Demonstrated analytical ability; asks insightful questions, break analytical challenges into workable components and draws meaningful conclusions. 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

People also viewed