Individuals in Operational Risk establish and manage operational risk policies, propose strategies, and governance processes designed to minimize losses from inadequate controls, fraud, and potential bankruptcy. This includes supervision over technology operational risk, cyber risk, and fraud risk. These individuals are also responsible for the development of tools and infrastructure that support fraud monitoring and prevention, using advanced analytical and statistical skills to identify policy gaps and recommend changes to current policies. This role is crucial to the company as it fortifies against potential operational risks, thereby protecting the company's financial stability and reputation, and contributing towards the overall business resilience and success.

Responsibilities:

• Represent business leadership to coordinate and facilitate Third-Party Risk Management activities.
• Evaluate current market conditions and provide insight on trends/issues that could impact the business by external third parties.
• Advise the BAO on risk assessment for third parties and reassess as required; identify significant relationship changes to trigger risk assessment updates.
• Verify compliance of third parties with required policies and controls.
• Partner with business operations, technology teams, and internal functions to conduct on-site visits of third parties, as required.
• Maintain and update Citi’s Exit Strategy Plans as required; collaborate with business contacts to establish risk mitigation activities when the exit strategy poses significant risk to Citi.
• Interact with third parties on escalations of non-performance and contractual issues to drive resolution when appropriate.
• Monitor third party performance and Service Level Agreements (SLAs) through Citi Performance Management Assessment (PMA) process.
• Verify proper execution and upload of Third-Party contracts (e.g., Statements of Work) in Citi’s Contract Management System (e Sourcing), collaborate with the Enterprise Supply Chain (ESC) organization if renegotiations are required.
• Review, prioritize, assess, and act on results of Third-Party Risk Management assessments/controls with support from various internal functions, in conjunction with business and operations teams.
• Facilitate remediation of issues or gaps identified as part of ongoing monitoring.
• Define risk mitigation strategies and risk exceptions based on the business’s risk appetite.
• Provide thought leadership to drive supplier optimization and efficiencies based on third parties' risk profiles, performance, and market trends.
• Standardize SLAs performance monitoring measures for like services, where possible.
• Liaise with the ESC Third Party Utility to review and respond to centrally conducted third-party risk management activities.
• When making business decisions, assess risk, uphold the firm's reputation, and protect Citigroup, its clients, and assets. This involves adhering to laws, rules, and policies, applying ethical judgment, and managing control issues transparently.
• Is an enthusiastic and early adopter of change; takes ownership for helping others see a better future and stay positive during uncertainty.
• Demonstrates and inspires curiosity in seeking new ways to overcome challenges; actively applies learning from failures.
• Challenges self and others to seek out and communicate alternative views even when unpopular; welcomes diverse ideas to improve outcomes.
• Acts as a change catalyst by identifying and helping others see where new ideas could benefit the organization.
• Proactively seeks to understand and act in alignment with organizational decisions; helps others prioritize team and enterprise success over their own personal agenda
• Focuses on highest-priority work aligned to business goals; helps others effectively manage competing priorities.
• Proactively identifies opportunities to streamline work; creates process improvements that enhance efficiency for self and the team.
• Takes personal accountability for escalating, identifying, and managing potential risk; implements controls that enhance the client experience and operational effectiveness.
• Anticipates problems and proactively identifies solutions that address the root causes and result in meaningful improvements.
• Sets high expectations and invests the necessary effort to deliver excellence and exceed performance goals.
• Role-models and helps others to do the right thing for clients and Citi in all situations, even when difficult
• Engages key stakeholders early and often and actively looks for opportunities to improve collaboration in achieving common goals.
• Proactively seeks out opportunities to volunteer in Citi programs that support the community; advocates for solutions that meet the needs of Citi’s clients and the community.
• Enthusiastically promotes the unique needs and preferences of colleagues; makes active commitment to help colleagues achieve balance, well-being, and development.
• Leverages varied networks to recruit diverse talent; advocates for colleagues with diverse skillsets, styles, and experiences to gain career opportunities.
• Empathetically listens and understands others’ positions before acting on issues; works to amplify voices that are minimized in the workplace
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards

Qualifications:

• 6-10 years of experience
• Understanding of Third Party Risk management lifecycle and risk assessment processes.
• Thought leadership and clarity in presenting ideas to senior management.
• Proven technical knowledge of resilience and Third-Party Risk principles and processes, to include up to date knowledge of current technology solutions, including Cloud.
• Experience in implementing risk processes across a large and diverse organization.
• Knowledge of regulatory requirements underpinning resilience and the Third-Party Risk Management and Outsourcing Lifecycle (OCC/FRB/EBA/PRA/MAS, etc.).
• Excellent analytical skills to interpret and present complex data.
• Proficiency in the use of MIS and other risk management tools
• Excellent project management skills to oversee risk reviews and mitigation efforts.
• Strong communication skills to provide counsel and collaborate with various stakeholders
• Ability to challenge and scrutinize established practices.
• Strong collaboration skills to work with different risk SMEs.
• Problem-solving skills to identify and address root causes leading to operational risk losses.

Education:

Bachelor's/University degree, Master's degree preferred

Sourcing Experience is required

Contract & Vendor management is required
Stakeholder management
Advance English
Risk & Control is a plus
ARAVO is a plus

Job Family Group:

Risk Management

Job Family:

Operational Risk

Time Type:

Full time

Most Relevant Skills

Analytical Thinking, Constructive Debate, Controls Design, Escalation Management, Issue Management, Operational Risk, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment.

Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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