US Consumer and Commercial Operational Risk Director
Summary:
The Business U.S. Consumer Commercial Bank Risk Management Department is in charge of establishing an effective control environment across all business processes for Retail Consumer Commercial Bank.
The Operational Risk Mgt role will manage Operational Risk across the U.S. Consumer Commercial Bank business. This role will be responsible for building and sustaining the organization and processes to effectively manage Operational Risk, which is a critical aspect to strengthening our culture of Oversight and Control and meeting specific Regulatory requirements.
This role requires an in depth understanding of how these diverse businesses work and how operational practices can mitigate future operational losses. The role documents operational risk procedures, including roles and responsibilities and coverage implementation of the Operational Risk Management (ORM) framework in conformation with the requirements for ORM Policy Standards. Plays a leading role supporting operational risk scenario analysis and stress testing for Operational Risk Capital requirements in conjunction with Finance and Independent Risk.
Interacts with various SMEs across the teams and will influence their focus and commitment to achieve the support needed to effectively manage the role. The individual will need to be adept at managing the organization, but at the same time be able to dive deep in understanding operational nuances that create or minimize future loss potential.
Responsibilities:
- Create regular reporting to Key Risk Indicator metric triggers and thresholds in order to indentify and communicate any emerging issues and develop actions plans with US Consumer and Commercial Leadership.
- Apply knowledge of the business, products and services to identify and implement control points and processes throughout the US Consumer and Commercial Retail Bank.
- Interact and influence key constituents across the various businesses to ensure appropriate focus, awareness and action on Operational Risk Issues.
- Analyze internal/ external data and assess the severity of operational risks (either proposed or current), develop mitigants (internal policy/ guidelines), and ensure appropriate approval and visibility of these risks.
- Documents operational risk procedures, including roles and responsibilities and coverage for implementation of the ORM Framework in conformance with the requirements of the ORM Policy and Standards.
- Assesses severity of operational and other risks associated with proposed changes or issues identified within the business, develops mitigants, and ensures appropriate approval and visibility of these risks within the U.S. Consumer and Commercial Retail Bank organization.
- Manages the Key Operational Risk (KOR) and Key Risk Indicators (KRI) development in coordination with the Independent Risk Mgt Consumer and Commercial ORM team.
- Creates monthly reporting to monitor Key Risk Indicator metric triggers and thresholds in order to identify and communicate any emerging issues and develop action plans with the business owners.
- Ensure completeness, accuracy, and consistency of Operational Loss Event Data in accordance with Citi's ORM Data Quality Standards; including quantifying the financial impacts. Responsible for obtaining management attestation of Operational Loss Events.
- Supports operational risk scenario analysis and stress testing for Operational Risk Capital requirements in conjunction with Finance and Independent Risk (ORM).
- Identifies known weaknesses, gaps or inconsistencies in operational risk data quality and ensure there are appropriate plans to address any shortcomings.
- Creates monthly and quarterly comprehensive operational risk reports to meet policy requirements.
- Develops a comprehensive vendor management process within the U.S. Consumer and Commercial Retail Bank business to resolve control gaps to enable rapid identification of risks and issues.
Skills
Qualifications:
- BA / BS required. MBA/MS is an asset. Regulatory, compliance and/or control experience. Strong research / analytical skills. Process and Project management skills strongly preferred. Communication and organizational skills essential.
- Understanding of and experience in industry research. Ability to grasp, aggregate and synthesize significant amounts of information to draw executive attention to trends and most important findings; Ability to identify trends and proactively advise on impact
- 11+ years of experience in financial services, with Consumer Commercial Retail Bank knowledge (e.g. product, operations and risk management)
- Proven skills in leadership, including strategic planning, project management and organizational skills.
- High level of diplomacy and relationship management skills. Ability to inspire trust and influence others, promote collaboration and motivate. Skilled at building and maintaining relationships.
- Demonstrated ability to work with all levels of internal and external management.
- Exceptionally strong written and oral communication skills; strong interpersonal skills; strong presentation skills.
- Organizational /Franchise awareness/Consumer business orientation.