- New York, NY, USA
- Permanent, Full time
ICG Regulatory Affairs Market Risk Lead
ICG Regulatory Affairs Market Risk Lead
- Primary Location: United States,New York,New York
- Education: Bachelor's Degree
- Job Function: Business Management and Admin
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 18076118
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 are widely available to all.
The Risk Governance function within the Chief Operating Office of Independent Risk Management is responsible for the design and implementation of firm-wide frameworks and practices that are integral and fundamental to Risk Management within Citi. The Risk Governance group is divided into 9 areas: 1) Risk Frameworks & Identification; 2) Risk Policies; 3) Product Approval Framework; 4) Risk Controls and Issue Management; 5) Model Risk Governance; 6) Regulatory Affairs, Governance Committees & Quality Assurance; 7) Strategic Analysis & Cross-Risk Initiatives; 8) Risk Learning & Development; and 9) Risk Headcount and Budget Management. As part of this function, the Regulatory Affairs, Quality Assurance Review and Governance Committee workstream leads proactive oversight of Risk Management efforts to deliver timely and best-in-class outcomes against regulatory expectations in addition to supporting firm-wide risk governing committees
The Regulatory Affairs team ensures the Risk organization maintains strong and productive regulatory relationships with US Prudential Regulators, with a focus on the FRB, OCC and FDIC. The team partners closely with subject matter experts within risk segments to:
• Oversee and coordinate regulatory examinations and reviews to ensure the risk organization proactively addresses regulatory requests and concerns;
• Manage regulatory interactions, including reoccurring liaison meetings and ad hoc information requests, to strengthen regulatory relations from an Independent Risk Management perspective; and
• Support the development of appropriate and diligent responses and remediation plans when regulatory issues and concerns are identified.
Members of the team are expected to promote strong coordination across the Risk organization, working closely with partners in other Control Functions and Businesses, to ensure consistent, insightful and clear communications to regulators.
The objective of this role is to support the Regulator Affairs Lead for ICG Risk in the execution of predominantly market risk regulatory interactions to ensure the organization is responsive, agile and well-prepared for unique and demanding regulatory requests. The role primarily focuses on leading market risk and other ICG risk related interactions, however there will also be the need to work across risk segments when needed.
• Manage regulatory exams that require significant program management across risk teams, with a focus on ensuring regulatory expectations are addressed on a holistic and consistent basis.
• Build working relationships and effectively partner with key stakeholders and subject matter experts across the ICG organization and more broadly within Risk and Businesses to promote a more integrated approach to regulatory relations.
• Attend regulatory meetings to represent the organization on regulatory matters and record meeting summaries and follow-up actions.
• Review and provide quality assurance of risk management deliverables submitted to regulators.
• Synthesize regulatory feedback and key findings in reports provided to senior management, the CRO and key stakeholders.
• Assist in high priority regulatory ad hoc projects across their lifecycle by identifying and structuring problems, analyzing root causes, developing solutions, communicating project results, and obtaining buy-in for change.
• Partner with the Risk Issues and Controls team on regulatory issue oversight to ensure responses to regulatory concerns are well-informed and appropriately address concerns raised.
The position provides the opportunity to work closely with stakeholders across Independent Risk Management with a focus on ICG Risk Management and the various risk disciplines within the function. The position allows the opportunity to cultivate meaningful professional relationships with ICG risk seniors while providing guidance and support during critical regulatory exams and interactions to ensure well-managed, productive and insightful communications. The role also allows the opportunity to broaden experience across other risk segments as the roles within the team are fungible depending on regulatory demands in particular segments.
• Bachelor's degree with 6-10 years relevant experience
• Awareness of general concepts/ principles of risk management with a background in market risk preferred.
• Strong verbal and written communication skills, able to effectively present in text or slide format
• Excellent problem solving abilities and organizational / time management skills
• Attention to detail and willingness to "roll up sleeves"
• Ability to work independently as well as collaboratively
• Ability to network and interact with a broad range of risk teams and senior management
• Intellectually curious and willing to invest time in researching areas outside current knowledge base/ skill set
• Experienced in project management with excellent organizational, follow-up and time management skills
• High proficiency in MS Office (Excel, Word, PowerPoint)