Operational Risk Manager

Job Description

The Enterprise Operations and Technology (EO&T) Third Party Utility (TPU)provides operational support, process guidance, and quality assurance and quality control oversight to businesses across Citi, leveraging a central utility infrastructure, standardized processes, and operating procedures to execute robust risk management activities throughout the third-party management life cycle.

The Operational Risk Manager provides full leadership and supervisory responsibility. Provides operational/service leadership and direction to team(s). Applies in-depth disciplinary knowledge through provision of value-added perspectives or advisory services. May contribute to the development of new techniques, models and plans within area of expertise. Strong communication and diplomacy skills are required. Generally, has responsibility for volume, quality, timeliness of end results and shared responsibility for planning and budgets; Provide guidance to internal stakeholders; monitoring the timely and effective completion of activities related to Third Party lifecycle; and ensuring data accuracy for the reporting of third-party related metrics. They also ensure to keep the motivation and development of team through professional leadership to include duties such as performance evaluation, compensation, hiring, disciplinary and terminations as well as direction of daily tasks and responsibilities.

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 assess risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
• Looks for ways to improve the current process and share best practices with senior leadership.
• Participates in senior leadership meetings to analyze documentation and processes to ensure risks and control points are properly addressed.
• Assists senior level management in gathering data and information for executive level reporting and to take ownership of specified projects and tasks.
• Can exercise independence of judgement and autonomy.
• Acts as SME to senior stakeholders and /or other team members.
• Ability to manage larger teams and drive them to deliver the highest quality work on Third Party Management.
• Demonstrate Strong knowledge about Third Party Lifecycle Management, Regulatory guidelines Contract Terms & conditions, Information Security, Regulations (OCC, GDPR, Data Privacy Laws, and Country specific Local Laws etc.)
• Providing process guidance and support to Third Party Officers (TPOs), Business Activity Owners (BAOs) and other business stakeholders on end-to-end Third-Party Management requirements and set up periodical review meeting with all the stakeholders.
• Facilitating and coordinating with various Policy Owners in areas such as Data Privacy, Export Licensing, Information Security and Continuity of Business (CoB) to complete required due diligence and ongoing monitoring activities
• Execute various third-party risk assessment controls as identified by the Third-Party Risk Assessment Process and provides guidance to TPU Process Analysts on process execution.
• Verify if third parties’ policies and procedures are complaint to Citi’s policies and procedures. Identify and report gaps if any, to senior management.
• Drive team to identify opportunities for better control and productivity enhancement through various process reengineering initiatives and automation projects including but not limited to Robotic Process Automations.
• Analyzing the data and forecast trends with respect to inherent risk associated with third parties and build controls to mitigate such risks
• Work with Operations standards team to layout framework of new process, obtaining clarification on ambiguous areas. Raise proposals for streamlining processes as per change management procedure
• Coordinate with Internal and external Auditors and ensure timely and accurate submission of all deliverables and ensure that all comments are addressed, observations are reported correctly, and corrective action is taken accordingly
• Drive and implement process changes in line with new emerging risks and regulatory requirements.
• 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:

• Minimum 12+ years of working experience in financial services / Banking industry
• Preferred 6+ years of direct, relevant experience in third-party risk management or operational risk management or Audit related work
• Minimum 3 year of Operational Leadership Experience including delivering in a high-volume, goal-based production/operations-based environment
• Knowledge of third-party management risk and control methodologies and best practices
• Team management skills preferred
• Supply chain management experience preferred

Education:

• Bachelor’s degree required.
• Master’s Degree preferred.
• Professional Qualifications including CA/ICWA/ACS etc.
• Project Management and experience in process standardization & Automation
• Preferred external certification – CISA / CIA / CSCP / CPSM.

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