Citi Global Wealth (CGW) Operations Operational Risk Officer

Reporting to the 2nd Line Senior Operational Risk Officer who has responsibility for oversight of Operations, this position works closely with 1st Line of Defense including, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Compliance, Legal) in carrying out job responsibilities.The Operational Risk Officer is responsible for effective oversight and challenge of Operations across all client tiers and products with heavy focus on end-to-end Controls, Monitoring and Risk Management of key processes. This role is expected to evaluate key data elements which inform the risk profile of the business and provide insights specific to trends, themes, control failures or Operational Loss Event drivers in support of continuous monitoring and oversight of the product, function and impacting external third-party suppliers. The Operational Risk Officer performs the role through proactive and direct engagement with 1st line business partners through daily interaction and participation in key business risk and control forums.Risk Identification, Analysis & AssessmentThe Operational Risk Officer leverages all the core tools that are part of the ORM framework viz., the Key Operational Risk Identification and Key Risk Indicator monitoring process, Scenario Analysis, Manager’s Control Assessment Challenge, Internal and External Loss Analysis as well as Risk Reviews to provide effective oversight and challenge of first line of defense. Risk identification, analysis and assessment of current and emerging issues also requires working with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product. Specifically, the role will require the Risk Officer to:Proactively analyze various data sources to form an independent assessment/opinion of operational risk with prompt and effective escalation to business leadership

Assess external Third-Party suppliers – including those which provide technology solutions

Identify emerging operational risks by relying on monitoring of trends and mining of relevant metrics including business self-assessment, Internal Audit reviews, Regulatory exams, internal and external loss data.

Continuously assess, monitor, and effectively challenge CGW Key Operational Risks and related Key Indicators to ensure the Business is taking appropriate action to establish Path to Green or effective remediation where Product control failures are a driver.

Support Operational Risk Reviews as well as Risk and Control framework assessments to proactively identify significant potential risks in the Business and develop specific recommendations for the Business to action.

Provide support to the CGW Global Operations ORM Lead in relevant New Activity assessments from an operational risk perspective

Identify changes in business strategy or relevant regulations that may lead to an increase in Operational Risk

Analyze horizontal Lessons Learned reports completed by the business to ensure that evidence of risk mitigation is evident where action is required.

Support CGW Scenario Analysis assessment efforts where there are active and open scenarios which require monitoring

Analyze client complaints to identify trends and emerging risks

Risk MitigationChallenge business proposed solutions to root causes of Operational Risk Events or control failures

Assess business changes where improvements are required to strengthen risk identification tools

Work as an independent partner to ensure that the business process controls mitigate risk and propose improvements to controls and/or monitoring proactively to prevent operational losses.

Challenge business level Issues and Corrective Action Plans to ensure adequate severity level setting, reasonable target dates and effective corrective action plans.

​ Qualifications:Knowledge /ExperienceWork experience of 7+ years in the financial services industry with deep knowledge of private banking products, Operations lifecycle including areas such as loans, payments, corporate actions and prior experience in Operational Risk Management

Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed and effectively articulated

Foundational knowledge of business self-assessment processes (RCSA/MCA) viz. bottoms up risk assessment program experience

SkillsIndependent thought leader with ability to effectively identify key operational risks which are most impactful to Operations across the products and services offered in a Private Banking or wealth management business

Ability to lead credible challenge and effectively influence and convince business to improve Controls gaps are identified

Effective partner with demonstrated ability to work collaboratively across different teams, functions, and Lines of Defense.

CompetenciesExceptional organizational, communication and presentation skills

Proficient in MS Office applications necessary for executing on job responsibilities – especially PowerPoint and Excel

Excellent data / quantitative analysis skills

Superior writing skills in support of high-quality risk summaries which inform presentations that feed into Operational Risk Reviews, Regulatory updates, or Governance forum summaries

Demonstrated ability to prioritize, drive and manage multiple initiatives in parallel with compressed timeframes

Education:Bachelor’s/University degree, Master’s degree preferred

Job Family Group:Risk ManagementJob Family:Operational RiskTime Type:Full timePrimary Location:New York New York United StatesPrimary Location Salary Range:$158,140.00 - $237,200.00Citi 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 (https://www.citigroup.com/citi/accessibility/application-accessibility.htm) .View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf) .View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeoaapolicy.pdf) .View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp%20EnglishformattedESQA508c.pdf)Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.Citi is an equal opportunity and affirmative action employer.Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.