Citi Operational Risk Senior Mgr. in Irving, Texas

  • Primary Location: United States,Texas,Irving

  • Other Location: United States,Florida,Jacksonville

  • Education: Bachelor's Degree

  • Job Function: Risk Management

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: Yes, 10 % of the Time

  • Job ID: 16068550


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.


· Strategic leader in first line of defense operational risk management to Retail Bank, enhancing senior management's ability to dimension, anticipate and manage operational risks effectively;

· Designs, implements and sustains the Operational Risk Framework throughout CitiMortgage and Retail Bank, ensuring alignment with the enterprise-wide ORM strategy for the management of operational risk (ORM), including articulation of the operational risk profile and risk appetite for Retail Bank;

· Leads the Operational Risk governance committees from the business level (chaired by the CEO) to the Board level;

· Ensure the effective implementation and execution of Operational Risk programs in CitiMortgage and Retail Bank including event data collection, key risk indicators, scenario analysis, and risk and control identification and assessment

· Proactively identify, measure, and analyze operational risks in Retail Bank, providing mitigation strategies where appropriate

· Oversees the adequacy and strength of the control environment throughout Retail Bank and recommends management action to ensure the operational risk profile supports the achievement of business objectives

· Provide leadership on operational risk reviews and feedback on the operational risk impact of major change initiatives, process improvements and transformational projects

· Align operational risk activities with other assessment activities to ensure Retail Bank business units receive a fully coordinated assessment of operational risks.

· Drives the effort to ensure the Retail Bank Operational Risk Program is in full compliance with the Global Operational Risk Framework, Policy, and Standards and will implement specific Policies/Standards/Procedures as necessary in support of the Enterprise requirements.


Strategic Drivers:

· Lead role in performing an enterprise-wide risk role, “joining the dots” on disparate areas of the risk profile allowing management to make strategic decisions informed by risk information;

· Actively design, implement and manage the strategy and programs for operational risk management along with senior Retail Bank unit leaders;

· Manage all levels of governance including direct interaction with CEO, CRO as well as Board level committee;

· Full development of Operational Risk Management programs in Retail Bank, ensuring it is fit for purpose in a Retail business while adhering to the Operational Risk Framework;

· Develops Risk Appetite statement and helps the business to proactively manage to this standard;

· Implement the Operational Risk Framework in CitiMortgage and Retail Bank (and where applicable, i.e. for specific jurisdictions, ensures operational risk framework components meet regulatory expectations);

· Provide risk mitigation strategies to Retail Bank and/or the assigned businesses within the Segment;

· Implement operational risk analytics with insight into their key risk areas both on a current basis as well as on a predictive basis;

· Implement operational risk tolerance limits for CitiMortgage and Retail Bank and Key Risk Indicators. Partner effectively with the business line to resolve tolerance breaches leading to a stable risk profile;

· Represent Citi at operational risk industry events and provide visibility to Citi as an industry leader.

Program Management:

· Lead the design, implementation and sustainability of operational risk management programs and practices (Scenario Analysis, Event Data Collection, Risk and Control Assessment, Key Risk Indicators)

· Key driver in the design of op risk policies and lead in the implementation of the policies within Retail Bank

· Creates and maintains standards and processes for the execution of operational risk programs in Retail Bank

· Works with Senior OR Directors across Citi to determine appropriate requirements for policies, standards, technology tools and processes necessary for the effective execution of ORM programs

· Maintains documentation on program execution outcomes

· Establishes and implements appropriate oversight to ensure that policies and standards are being adhered to and exceptions are escalated as appropriate

Risk Identification, Assessment and Measurement:

· Promote a strong culture of control awareness and risk mitigation in all dealings with the business and additional risk partners (e.g. ERM and IR).

· Identify and quantify key operational risk exposures within Retail Bank

· Oversee operational loss event data collection within CitiMortgage and Retail Bank, maintain log of all events and report results to senior management

· Key role in performing operational risk assessments in a fully coordinated manner with other groups and in accordance with Citi Enterprise Operational Risk Management Framework.

· Facilitates assessment and analysis work as required on Product Risk Review, problematic processes, outsource arrangements, key initiatives, significant loss events, what if scenarios for industry events, etc.

· Analyze external events and liaise with the business to ascertain if similar exposures exist within Retail Bank, assess the impact on the risk profile and develop mitigation strategies if required.

Risk and Control Governance:

· Assesses the adequacy and strength of controls in Retail Bank, analyzes the risk reward trade-off, and recommends management action to ensure a stable risk profile.

· Provide management oversight, analysis, and monitoring of all control environment information pertaining to Retail Bank

· Report operational risk profiles, analysis and exposures to Senior Management on a regular basis which is actionable by senior leaders. Reporting should include existing and emerging areas of risk, implications for operational risk appetite, and the ability of the risk management and control infrastructure to support business activities

· Ensures dissemination of information on Retail Bank operational risk management practices and programs to foster sound operational risk management at Citi leading to embedding an operational risk mindset in the business

· Serve as first line of defense in working with individual business units and control teams in order to provide feedback as to operational risks residing within those areas

· Oversees the Policy/Standard/Procedure program ensuring all enterprise policies are tracked, reported, and approved with tracking of implementation and appropriate reporting to senior management

· Ensures there are effective operational risk management programs and/or controls in place at each of the Retail Bank significant or material vendors



· Bachelor's or Master's (preferred) Degree, or equivalent

· Minimum 15 years of experience in financial services industry

· Minimum of 10 years of experience in Risk Management, with specific experience in ORM

· Sound understanding of risk management principles

· Proven leadership qualities partnering with both 1LOD units and 2LOD functions

· Experience of running senior level committees and enhancing a risk governance structure

· Strategic mindset, with excellent knowledge and understanding of Citi businesses and organization

· Excellent communication and presentation skills

· Proven track record of building strong relationships across business functions

· Maturity level and skill/judgment to be able to deal effectively with senior managers within CitiMortgage and Retail Bank

· Strong problem solving, analytical (including qualitative analysis), research, and quantitative skills