Primary Location: United States,Illinois,Elk Grove Village
Other Location: United States,Georgia,Atlanta
Education: Bachelor's Degree
Job Function: Risk Management
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 19034329
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop to are widely available to all.
Reporting to the Regulatory & Compliance Risk Management Director, the Regulatory & Compliance Risk Management Officer is responsible for supporting the end-to-end CRS Business in effectively managing regulatory & compliance risks within the approved risk appetite. The scope of this responsibility encompasses all laws & regulations and internal policies applicable to the CRS Business. Across each area of responsibility, the candidate will operate in close partnership with the 2 nd line of defense (in particular, ICRM and Legal) that is responsible for challenging and monitoring compliance with rules & regulations and policies. The candidate will partner with CBORC and In-Business Risk counterparts in Operations & Technology to ensure risks are adequately managed end-to-end rather than within functional silos. Key responsibilities include:
To support the execution of the regulatory inventory & control mapping project (RIIM) across the CRS direct business, in close alignment with Operations and Technology. This initiative falls within the Comprehensive Strategic Plan (CSP) and must be completed within the tight timeline and with the standard committed to the US Regulators. It includes developing the project plan and leading the execution to ensure identification and validation of controls & monitoring (CMDA) for all rules within all applicable US rules & regulations.
To partner with functional and process owners in the identification and management of regulatory & compliance risks arising from business-led changes. This requires that the candidate advise process owners in the assessment of impact and contribute to the design of controls & monitoring as integral components of the process engineering.
To drive the execution of the regulatory change management procedures for the CRS direct business, in close alignment with Operations & Technology. The candidate will manage the execution of the routines that ensure assessment of impact from new regulations and consequent design of controls & monitoring as dictated by the Regulatory Change Management policy.
To partner with the MCA Management Teams - in both CRS Business and Operations & Technology - in the continuous enhancement of controls & monitoring for regulatory & compliance risks. This requires engagement with Assessment Unit (AU) leads and process owners in the definition of requirements for automation of controls and the digitization of monitoring, in alignment with the Bold Goal set by GCB CBORC Leadership.
To support MCA Management Teams and process owners across Business, Operations, and Technology as subject matter expert in US rules & regulations and policies e.g. partnering in the execution of the activities designed to ensure permanent audit readiness, providing guidance to (and as needed, participating as member of) the Targeted Review team, assisting in the engagement with Internal Audit and Compliance Assurance over potential regulatory findings.
To assist CBORC, Business, Operations, and Technology leadership teams in the engagements with US Regulators on regulatory & compliance matters. The candidate will provide guidance on the approach to each regulatory engagement and will own the format & content of the documentation that will be leveraged by the leadership team.
Subject matter expertise in US regulations as applicable to the business (in particular, US federal banking regulations)
Working-level knowledge of all core end-to-end processes in the CRS business
Proven skill at facilitating balanced assessment of experience, efficiency, and risk mitigation priorities
Experience engaging with 2 nd / 3 rd lines of defense and US Regulators (preferred, not required)
Demonstrated ability to lead by influence, engaging across multiple functions and seniority levels
Ability to move from granular detail to strategic level, with effective executive presentation skills
Comfortable operating with limited guidance and under significant time pressure
Internal Number: 6092075
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