• Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Citi-US
  • 2018-10-17

Risk Quality Assurance Review Lead

Risk Quality Assurance Review Lead

  • Primary Location: United States,New York,New York
  • Education: Bachelor's Degree
  • Job Function: Risk Management
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: Yes, 25 % of the Time
  • Job ID: 18054126


About Citi:

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.

Function Overview:

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 8 areas: 1) Risk Frameworks 2) Risk Policies 3) Product Approval Framework 4) Risk Identification 5) Risk Controls and Issue Management 6) Regulatory Affairs, Governance Committees & Quality Assurance 7) Strategic Analysis & Cross-Risk Initiatives and 8) 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.

Quality Assurance Reviews are in-depth Risk Management peer reviews to assess the adequacy, appropriateness and effectiveness of a specific risk function. These reviews are an industry-leading practice which identify potential gaps and areas for improvement and support the development of self-identified corrective action plans to ensure sustained improvement across Independent Risk Management.

The core Quality Assurance team manages and oversees the end-to-end review process from review topic and team selection, scoping and due diligence, review fieldwork, final report development and corrective action plan monitoring. The team works with the Risk Management Executive Council to select focus areas for review and the broader review team comprised of a diverse set of risk professionals. During review planning, the team engages in critical fact-finding sessions with key subject matter experts and conducts analysis to refine the review scope. In managing the fieldwork, the team drives identification of thoughtful observations and development of insightful and strategic recommendations, while ensuring there is a collaborative review environment and promoting a robust challenge of existing frameworks and practices. In completing each review, the team manages effective communication of review results to relevant internal and external stakeholders, including the Risk Management Executive Council and regulators.

Members of the team partner with other senior risk management professionals to execute the Quality Assurance Review program, a critical risk tool, and drive continued enhancement across the Risk organization.

Key Responsibilities:
  • Lead the execution and oversight of Quality Assurance Reviews (at least 4 a year) within Independent Risk Management which requires significant program and process management expertise
  • Guide due diligence activities during review preparation, including research, analysis and interviews with key stakeholders to develop the appropriate review scope
  • Lead review teams (~10-15 members) in fieldwork activities, driving thoughtful discussions amongst the team, formulating initial observations, findings, and recommendations
  • Consult with a broad range of areas under review in creation of corrective action plans
  • Author final reports which clearly summarize review activities and communicate key themes, findings, recommendation and corrective action plans
  • Drive effective communication of final review results with internal stakeholders and regulators
  • Direct strategic infrastructure projects to support the sustainability of the Quality Assurance Review program including resourcing and associated tools, topic selection frameworks, and development and maintenance of supporting budgets
  • Interface with the Risk Management Executive Council and other senior risk stakeholders in the selection of review focus areas and guest review leads and team members
  • Build strong working relationships and effectively partner with key stakeholders and subject matter experts across the Independent Risk Management organization and across the Businesses and Control Functions
Development Value:

The position provides the opportunity to work closely with stakeholders across Independent Risk Management and the various risk disciplines within the function to develop critical enhancement initiatives. The position allows for gaining in-depth knowledge around review focus area and also provides opportunity to develop the strategic vision for the review function and execute to the target end state.


  • 15+ years of experience in the Financial Services industry, preferably in a review-focused or process reengineering role that requires excellent oral/written communication and superior program management skills (e.g. Regulatory, Internal Audit, Fundamental Credit, Compliance Reviews, etc.) or management consulting experience
  • Excellent influencing, facilitation, and partnering skills. Ability to build a strong internal and external networks
  • Ability to develop and execute against a strategic vision
  • Proven experience in leading medium sized project teams (~10-15 people) to successful outcomes
  • Exceptional writing skills, with ability to synthesize complex concepts and translate into effective presentations to external regulators and Senior Executives
  • Strong attention to detail, willingness to "roll up sleeves"; ability to work under pressure and tireless work ethic
  • Autonomous and highly motivated with the ability to multi-task productively and to work independently as well as collaboratively
  • Conversant across risk types (i.e. Credit, Market, Liquidity, Strategic, Operational, Compliance, and Reputational risk)
  • Experienced in project management with excellent organizational, follow-up and time management skills
  • Business management or analytical background (Master's degree in business or relevant discipline preferred; Bachelors in a concentration with analytic focus, e.g. business, finance, economics, management information systems, etc.)