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Years of Experience
Date Last Verified
Director - NA Operational Risk & Control Assessment (ORCA) Duties: Provide segment and function specific expertise to execute effective oversight and challenge of the Business’ risk and control assessment at the MCA entity level, drive improvements in the design and effectiveness of controls in order to reduce the probability and severity of operational risk events, and provide an independent assessment of the path to strong ratings at the entity and Business level to ensure the Business meets Regulatory Standards. Reporting to the Global Head of Consumer ORM, the ORCA head works closely with MCA Entity owners, in-business Operational Risk and Control Managers, as well as Independent SORMs, Independent Risk and other control functions (Compliance, Legal, HR, TPRM) in carrying out job responsibilities. Prime interfaces for Independent Senior Operational Risk Manager – ORCA: NA GCB Consumer Business and Function MCA Entity owners and CBORC. Direct Reports of the Consumer CRO and other Control Functions seniors to leverage their expertise as “guest challengers”. Consumer ORM Business Coverage teams for North America to ensure consistent standards in oversight execution, good coordination and communication with Business leadership, leverage product expertise as well as transfer of lessons learnt in terms of cross geography themes emerging out of challenges. Global MCA Program head and team for providing input to standards and keeping abreast of issues and changes in the MCA Framework as well as infrastructure and training. Other functions within the Consumer ORM Framework and Risk Cycle Management team for expertise in framework requirements, policies and procedures as well as to provide input for overall Risk Profile of each business as well as Policy reporting requirements. Ensure high quality and consistent challenge and oversight of all MCA entities within scope viz. all US Business and functional entities as well as any US based global entities as designated over time. Ensure 1st and 2nd Line of Defense are linking all key elements of Citi's Operational Risk Framework and Standards (KORs, Internal and External Events, Scenario Analysis and changes in the operating environment including regulatory developments) at the MCA entity level. Lead the ongoing development and embedding of best practices for successful execution of the Manager’s Control Assessment both in the Business (1st LOD) and in the 2nd LOD execution of effective challenge. Lead the development and production of regular management reporting and metrics that provide a robust assessment of the quality and effectiveness of MCA execution by the 1st LOD and measures of effectiveness of 2nd LOD oversight. Provide continuous evaluation on a thematic basis of risks and issues that emerge out of the ARA and Entity Ratings challenges as well as ORCA scrutiny of PRCs to feed into the assessment of key residual operational risks at a Business level. Use oversight and challenge process to independently identify control environment issues / areas of focus that need attention from NA management and escalate to Independent SORMs / Consumer ORM head for highlighting in appropriate governance forums. Monitor best practices in the area of ORM MCA governance across ORM teams covering other geographies and sectors in order to continuously enhance ORCA practices. Serve as the Consumer ORM SME on all matters related to MCA and represent Consumer ORM in the Global MCA Policies and Standards Working Group. Serve as the prime interface with the GCB MCA Champion and drive resolution of MCA related issues of a global nature. Work closely with Independent Risk and other Control functions in carrying out job responsibilities and in identifying opportunities for leveraging relevant subject matter expertise. GCB Consumer NA MCA Governance and oversight. Develop and implement strategy for timely execution of all Consumer NA MCA ARA challenges as well as Quarterly Outlier Analysis process per the ORM policy and standards. Coordinate and lead the annual risk assessment challenge for all Consumer NA MCA entities and align with current Key Operational Risk and Key Risk Indicator inventories to ensure all key elements of framework incorporate MCA ARA outputs. Establish best practice process for Quarterly Outlier Analysis to include execution strategy, communication of results to 1st and 2nd lines of defense and ratings change challenge proposal. Drive improvements to change management processes and communicate results when updates are presented by Global MCA Program. Lead and coordinate Business Coverage input for ORM MCA Standards and Procedures. Conduct business impact analysis and provide effective challenge to 2nd line risk partners where appropriate when changes are introduced. Provide ORCA relevant input to Consumer ORM procedures and ensure that it is current at all times. Oversee and facilitate all proposed Consumer NA entity changes should they be necessary with coordination efforts aligned between 1st line and Global MCA program team. Assist in preparation of regular updates to regulators and senior governance forums including GCB Global BRCC, GCCF, CRO Regulatory updates, Board Audit Committee etc. where Business Coverage MCA activities are represented. Develop PRCs for ORCA activities and incorporate into Consumer ORM MCA entity appropriately. Develop and maintain a robust capacity plan for the unit and identify and implement process efficiencies – if necessary with the engagement of the Global MCA Program to make any changes required at Program level. Identify and coordinate Operational Risk training topics specific to MCA for the broader Consumer ORM team and assist in facilitation of training where appropriate so as to keep the Business Coverage teams regularly updated on policy and procedure changes. Coordinate with the central ORM teams for ORM Internal Audits, Consumer ORM Internal Audits and ORM AMA regulatory exams which may impact execution against current MCA policy, standards and procedures. Develop key messages and materials for ORM regulatory exams and internal audits describing Consumer NA MCA risk capabilities, work products and effective challenges. Responsible for ORM Consumer NA MCA Op Risk Reporting. Ongoing monitoring and review of Global MCA COE MIS for identification of opportunities or adverse trends across Consumer NA Entities. Support Product Leads in alignment of the MCA ARA outputs to Key Operational Risk (KOR)/Key Risk Indicators (KRI) and Scenario Analysis. Contribute to development of the Business Operational Risk Profile/Monitor. Utilize back-testing results and make recommendations or changes where necessary if there are indications of weakness in controls and in the MCA program (e.g. PRC library updates, Controls adequacy, Monitoring method enhancements, etc.).
Qualification and Experience
Qualifications: Bachelor's or Master’s degree in Business, Finance, Law, Engineering or Science disciplines. Work experience of 10+ years in the financial services industry with in depth knowledge of Consumer products and operations. Leadership positions in high volume Business Operations, Business Operational Risk Management, IA, Compliance or related control fields with experience of interfacing with senior management. Expertise in working with complex and rapidly changing, technology enabled businesses with a strong understanding of associated risks and areas of vulnerability. Solid knowledge of US Consumer product related regulations and industry standards including infrastructure requirements and related controls. Risk relevant skills. Strong analytical and conceptual skills applicable across Consumer businesses, products and customer classes. Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed. Able to prioritize high impact potential problems effectively. Innovative and independent thought leader. Well versed in developing new ideas and improving current processes. Ability to successfully influence without authority across functions and geographies. Consider broad implications of decisions on different functions and units. Establishes an effective voice at the table of the senior most Business leaders to function as a valued and respected independent risk partner.
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