Regional Retail Bank CBORC Support Lead
Citibank Asia/ EMEA Retail Business serves in more than 120 cities in 17 of the fastest-growing markets in the region. Retail Bank business in the two regions offers diversified range of products ranging from plain vanilla deposit and insurance products to complex wealth management products to 5.4 million customers across 239 branches with a deposit book of US$93 Billion.
Regional Program Overview
Given heightened regulatory focus, expectations and requirements on Wealth Management offerings and Insurance products, a critical function of the role is to ensure adherence with internal procedures and policies and with the different regulatory regimes (covering conduct rules, wealth management offerings, sales processes, surveillance, AML and other operational risks) and mitigation of the associated risks through consistent deployment of the risk and control framework and governance processes across the Retail Bank businesses in 17 countries - focussing on Digitization and Centralization of Control Assessment with roll out of CAATTs for Retail Bank and MCA Restructuring Digitization and Centralization. The incumbent will drive critical enhancements to the Retail Bank Manager's Control Assessment (MCA) program through alignment with evolving risks as well as changing business needs and policies, and ensuring the mapping of the Regulatory Control Matrix to the MCA is comprehensive and importantly introducing CAATTs automated MCA testing across Retail Bank spectrum.
Another key function of the role is to provide control advisory and support to the Regional Retail Bank organization in mitigating Sales Practices related risks that are inherent to Retail Bank businesses ensuring controls are keeping pace with the evolving business landscape. There have been a number of inappropriate sales practice incidents surfacing from various banking institutions globally, of which the sales practice wrong doing by Wells Fargo is the most prominent and widely reported in the media. These incidents included opening bank accounts, provisioning credit cards and moving money between customer accounts and signing customers up for online banking services - all without customer authorisation, in order to meet sales targets. It is understood that these issues reflect serious flaws in the internal culture, compensation models, day to day business controls and the governance and oversight practices at Wells Fargo.
Role of the Regional PMO Support Lead for the Regional Retail Banking CBORC Head would include:
- Managing key Sales Practices program deliverables for the Asia and EMEA region of 17 markets.
- Working with the Retail Bank CBORC Head to ensure that the Sales Practices program is completed on time, on budget and all program deliverables meet the expectations and commitments made by the Program Team.
- This role requires support in the development and execution of Sales Practices program strategies for a large/complex business requiring coordination and integration across regional units (i.e. Customer Franchise / Customer Acquisition / Compliance etc.).
- Roll out of CAATTs for Retail Bank; including mapping all CAATTs to MCA PRCMs and Compliance RCM controls.
- Roll out end to end digital workflow for Retail Bank including KAAC testing through MCA program for critical automated controls ensuring consistent application of these tests across Retail Bank.
- Ring-fencing of manual control testing in MCA with defined digitization / elimination plan.
- Adherence of controls to RCCPM requirements including maintaining a repository of all existing exceptions / deviations.
- The role is accountable for overseeing, facilitating and tracking the development of all key deliverables for the program.
This is a C13 role and reports into the Regional Retail Bank CBORC Head. Key Responsibilities:
Retail Bank Sales Practices :-
- Supporting the Regional Retail Bank CBORC Head in deployment of milestones and key deliverables; ensuring all key stakeholders are up to date with progress and challenges of the SPR review.
- Program communication including regular updates, town hall, conference calls, newsletter and establishing coordination with Global SPR office ensuring consistent implementation across Retail Bank in the region.
- Ensuring all Retail scenarios are established; and operating effectively across all businesses.
- Establish guidance for all Retail Bank scenarios ensuring consistent application of the rules across businesses.
- Collaborate with SME's during quality assurance reviews to ensure the highest standard for all project deliverables.
- Interfacing with Internal Audit and Compliance Assurance during Sales Practices scenario validation.
- Coordinate with Global SPR team including governance and oversight.
Digitization and Centralization of Control Assessment [CAATTs and other Digital Techniques]
- Roll out 2018 Retail target CAATTs across 17 businesses.
- Mapping of all Retail CAATTs to MCA PRCMs and Compliance RCM controls
- Roll out of end-to-end digital workflow, change management and self-service MIS
MCA Restructuring and KAAC:
- Roll out Global Risk and Compliance (GRC) assessment across Retail Bank.
- Ring-fencing of manual control testing across Retail Bank MCA with a defined digitization / elimination plan.
- Introduce CAATTs testing in MCA leading to effective MCA monitoring for Retail Bank.
- Assessment of key customer-facing controls with regards to customer impact [pain points] and calibration of relevant controls [MCA and RCCPM] in partnership with GCB Operations CBORC team.
- Implement KAAC across Retail Banking MCA program and ensure annual testing is effectively conducted.
- Evaluate consistent application of KAAC across Retail Banking businesses in the region.
- Providing specialist risk and control coordination, advice and guidance to ensure a consistent MCA program, PRCs (Processes, Risks and Controls), Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) for risk and control across Retail businesses, including monitoring and reporting processes.
- A university degree is preferable in any subject.
- The ideal candidate will have more than 10 years' experience within banking of which should include:-
- more than 5 years experience leading non IT related projects or large scale change programs
- more than 5 years exposure working in close partnership with Operational Risk Management, Compliance and Audit Functions.
- Any formal qualifications in project management (e.g. PMP, APMP or PRINCE2) will be an advantage but not mandatory.
- Proven experience of managing large and complex PMO's covering complex projects across multiple geographies and multiple work streams
- Strong understanding of regional GCB Retail Bank business landscape, regional customer portfolio and business trends
- Must have extensive experience in managing and executing written program communications for engaging senior staff and broader groups of interested parties - this candidate needs to be very strong in written communication skills.
- A familiarity of regional Retail Bank GCB sales practices in terms of current procedures and on-boarding channels, sales incentives and sales compensation arrangements
- Previous experience should include a multi geography exposure / remit and understanding across Asia and preferably EMEA.
- The ideal candidate should have strong partnering and negotiating abilities / skills and experience in dealing with senior management teams.
- The ideal candidate should have a deep understanding of controls and risks associated with the consumer products
- The individual should have considerable experience in establishing, executing and building governance and controls within the consumer banking space
- Strong and resourceful problem solver who can manage issues including project related defects working with the various partners
- Team player with a strong sense of competing priorities and the interests of various stakeholders with an ability to negotiate, persuade and adapt
- Ability to negotiate with and influence Regional Line of Business Leaders, and In-Country Program Teams to achieve results that will impact the Regional Consumer business significantly
- Excellent communication skills, able to communicate effectively with all senior internal stakeholders.
- Must have excellent writing skills and is able to communicate critical information in writing to a wide variety of different audiences.
- Ability to manage, develop and motivate virtual teams, and delivering results both as an individual and through virtual teams
- Demonstrate through delivery of projects the ability to motivate and influence business partners to deliver on milestones/commitments
- Willingness to travel, as required
- This role requires use of conceptual and innovative thinking
Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - SG ------------------------------------------------------
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