Operational Risk Management, Vice President
The Operational Risk Sr Manager accomplishes results through the management of professional team(s) and department(s). Integrates subject matter and industry expertise within a defined area. Contributes to standards around which others will operate. Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the entire function. Requires basic commercial awareness. 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. Has responsibility for volume, quality, timeliness and delivery of end results of an area. May have responsibility for planning, budgeting and policy formulation within area of expertise. Involved in short-term planning resource planning. Full management responsibility of a team, which may include management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary and terminations and may include budget approval. 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.
- Assesses 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, risk for example.
- Establishes and maintains a robust control environment and culture within the Citi businesses worldwide.
- Assists management in achieving and maintaining strategic objectives, promotes efficiency, reduces the risk of loss and helps ensure compliance with corporate polices, procedures, laws and regulatory requirements.
- Assists in assessing current status of all regulation related controls
- Recommends control enhancements as needed
- Identifies best practices to be shared with global Citi businesses
- Develops and maintains tracking metrics for management reporting and escalation
- Establishes a rapport with Business Managers, Compliance, Internal Audit and Legal.
- Develops a broad and detailed understanding of the organization's landscape, culture and technology.
- Understands the various businesses and the applicable regulations which govern
- Has the ability to operate with a limited level of direct supervision.
- Can exercise independence of judgement and autonomy.
- Acts as SME to senior stakeholders and /or other team members.
- Ability to manage teams.
- 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.
Risk Identification Analysis and Assessment:
- Identify trends and themes, use leading indicators and proactively analyze various data sources to form an independent assessment/opinion that indicate emerging operational risks
- Lead and drive Business across the Hong Kong franchise to review the Global Operational Risk Appetite Framework, identity the risk applicable at the locally-incorporated legal entity level, establish Risk Appetite Statements and set up the appropriate risk metrics / key indicators to monitor and report operational risk.
- Op Loss Analysis: understand how losses were incurred, determine lessons learned, identify root causes and use for risk mitigation activities as outlined below Review and approve new product proposals/product programs as well as the sale or purchase of any business
- MCA, Operational risk reviews, Lessons Learned challenges
- Issue and CAP closure validation for ORM sourced and applicable self-identified issues
- Work as an independent partner with Business to mitigate op risks, improve processes and controls
- Develop actions or, as appropriate, projects to apply lessons learned across a product, business, segment, country or region
- Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans
Governance (including Local Board of Director updates)
- Board presentation of franchise / legal entities operational risk profiles, incl. Independent Non-Exec. Director oversight
- Perform data quality review on the op losses captured in Loss Capture System (LCS) in line with HKMA requirements
- Review indicators and metrics on a regular basis
- Review internal audit and regulatory findings
- Provide operational risk policy framework oversight for Hong Kong Franchise
- Drive operational risk agenda through significant risk and control meetings such as Business Risk Compliance and Control (BRCC) meeting
- Regulatory exam management and key regulatory submissions (e.g. HKMA ORM ICA, HKMA Annual Data Submission Exercise, HKMA Annual Offsite Reviews).
- Support ORM Head / RMCO to drive and engage with other Risk Managers on Risk Management Committee (RMC) and other Franchise Risk related matters
- Provide input, update and cascade the op risk related policies/procedures/processes to adhere to op risk specific internal and regulatory requirements
- Oversee training and application of operational risk and affiliated policies (e.g., Fraud) and technology and tools (CitiRisk, LCS)
- Manage, execute, participate as appropriate in the Resolution and Recovery Plans, Scenario Plan and Scenario Analysis process from an ORM standpoint.
- 6-10 years experience in Operational Risk is a must. Other risk and control disciplines would be a plus - credit, and market.
- Experience in Internal Audit or Financial Control would be desirable.
- Expertise in the following is beneficial: Fraud Awareness and Risk Management Legal and Regulatory Compliance, specifically
- Management of a global operations and a complex environment that includes global teams.
- Excellent communication skills - verbal & written
- Bachelor's/University degree, Master's degree preferred
Key partnership and growth opportunity within the HKSAR hub footprint, in support of the franchise risk and control objectives. Job Family Group:
Risk Management Job Family:
Operational Risk Time Type:
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