Wealth Operations 2nd Line of Defense - Operational Risk Vice President

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Job Overview

Reporting to the 2nd Line Operational Risk Director, who has responsibility for oversight of Wealth Operations coverage, 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 in fulfilling job responsibilities.

The Vice President (Operational Risk 2nd Line of Defense Lead) is responsible for supporting effective oversight and independent challenge of Citi’s Wealth Operations functions to ensure that the first line of defense can demonstrate effective Risk Management disciplines, which includes strong operational risk identification, controls, and monitoring. This role is expected to independently evaluate key data elements which inform the risk profile of the first line of defense 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 role is performed through proactive and direct engagement with 1st line business partners via daily interaction, independent assurance, and participation in key business risk and control forums.

Individuals in Operational Risk establish and manage operational risk policies, propose strategies, and oversee the governance of processes designed to minimize losses from inadequate controls, fraud, and other potential operational risk events This includes supervision of 11 different risk categories, inclusive of technology risk, processing risk, cyber risk, and fraud risk, and more. 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 overall business resilience and success.

Business Coverage Scope

The scope of this role is specific to Wealth Operations. Prime interfaces include but are not limited to:

• •1st line business process/risk owners
• •Wealth Operations In-Business Risk and Control Heads
• •Wealth ORM Head
• •ORM Independent Senior Operational Risk Manager (ISORM) business coverage leads for other Wealth business and functions
• •Other ORM Executive Leadership Team(s) – Foundational Programs or Policy Teams
• •Wealth Compliance Officers
• •Wealth Senior Operational Risk Managers
• •Enterprise ORM Risk Category SMEs (e.g., Fraud, Tech & Cyber, Data Management, Model, Third Party Risk, Resilience, Processing Risk, etc.).

Responsibilities :

• •Contribute to oversight of operational risk policies, technology, tools, and governance processes to create solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.
• •Oversee and assess the 1LoD implementation of effective control measures to mitigate identified risks.
• •Independently assess operational risks in the business to ensure it is within the acceptable risk appetite.
• •Review and challenge the effectiveness of risk mitigation strategies and control measures implemented by the 1st line of defense.
• •Build and maintain effective relationships with Business Partners, establishing credibility by understanding the business, their needs, strategic priorities, and challenges.
• •Support internal and external audits and regulatory examinations, as applicable.
• •Promote a culture of risk awareness, connectivity across ORM and accountability in the business, escalating risks as appropriate.
• •Report significant risk issues and breaches to executive management.
• •Partner with Sr. management on the reporting and presentation of operational risk status, trends, and key developments to the board, regulators, and other key stakeholders, as applicable.
• •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 :

• •7+ years of experience
• •Robust understanding of operational risk management frameworks, industry standards, regulatory requirements, and risk mitigation practices.
• •Demonstrated leadership in coordinating with business units and senior management to address operational risk issues and implement solutions.
• •Demonstrated track record of effectively assessing and managing competing priorities.
• •Experience interacting with Internal Audit.
• •Previous experience working on complex firm-wide projects or processes.
• •Effective leadership ability to credibly challenge and influence stakeholders.
• •Comfortable in dynamic environments, capable of adapting to change while maintaining focus on risk management objectives.
• •Ability to think strategically and align operational risk management with organizational goals and regulatory obligations.
• •Excellent communication skills, with the ability to interact effectively at all levels, develop strong partnerships across the organization, and present complex information clearly to senior management and stakeholders.
• •Compelling leadership qualities with ability to credibly chal