A risk management oversight person is required to oversee and coordinate interaction with the business for EMEA Risk Management, specifically related to remote booking activities on all UK legal vehicles.
The role will be part of the EMEA Chief Risk Officer Risk group, working alongside others responsible for implementation and governance of control frameworks for second line of defense for UK Legal Vehicles.
The role will be the UK Senior Management Delegate for Remote Booking, reporting as delegate of the UK Risk Senior Manager.
The completeness and accuracy of such frameworks is important to evidence adherence to Citi's governing standards and regulatory expectations and obligations. This includes the UK regulatory regime - IAR (Individual Accountability Regime) and EU regulations with pending Brexit impacts. The person will work closely with the Risk Senior Managers to support regulatory compliance of their respective Risk businesses and interact with the regulators as and when needed.
The person will represent the Risk business and management in various franchise and legal entity governance forums and support the regional management team to fulfil its centralised governance and oversight role.
This role reports into the UK CRO and is a critical part of the EMEA franchise given the significance of the legal entities covered, most notably CGML the international broker-dealer based in the UK which has assets of $140B / net income of $312mm and CBNA London Branch with assets of $120B / net income of $707mm.
The role is responsible for managing the remote booking process for Risk Management and is a direct interface with the business (first line of defense) and the rest of the Risk management function and other relevant functions in the UK, so the ability to manage via influence is a key prerequisite.
Responsibilities include liaising with all businesses, relevant Risk segments, managing reporting, escalation and governance and development MIS in relation to remote booking model and developing robust Risk governance framework for CBNA London Branch.
The implementation of the Senior Manager Regime (SMR) has brought significant changes to businesses control oversight and regulatory expectations of such firms and in particular identified Senior Managers. Whilst the FCA and PRA focus on our main UK legal entities - CGML, CBNA London branch and CEP UK branch, the Risk function has a wide-reaching regional remit incorporating many other regulators, particularly the Citibank Europe Plc (CEP) network across the region and pending CGME infrastructure post Brexit. The introduction of increased regulatory standards, particularly where SMR personal accountability is involved, has created a very challenging environment in which the need for highly skilled practitioners becomes even greater.
Key focus will be placed on identifying Senior Manager regulatory oversight as it pertains to their responsibilities for activities conducted from offshore on the UK legal entities.
The role-holder will:
Be a key member of the regional Risk management team and possess management and leadership qualities so they may constructively participate in the daily operation of the Risk management function. They will be capable of supporting the UK CRO and EMEA CRO in their duties. They will also be expected to work across the senior leadership team, as appropriate, to deliver a consistent framework for UK legal vehicles.
Develop MIS specifically for activities conducted from offshore the UK legal entities.
Develop CBNA Risk Governance.
As a delegate for the UK CRO, this role will be involved in reviewing and, based on the materiality and delegation, approve/reject notable transactions, Permitted Product List changes, NPAC affecting the UK legal entities as a result of offshore activity.
As a delegate for the Senior Manager and in accordance with the delegation framework, this role will:
- Serve as the liaison with regulatory examiners, Citigroup (IA), and external auditors as required - Participate in key regional and legal entity forums - Oversee the Risk remote booking framework for UK Legal Vehicles - Develop and Manage MIS
This role will provide unique visibility, cross-functional and cross-Risk experience and knowledge. The position involves a significant amount of interaction with senior management and direct involvement in a variety of the critical strategic projects within Citi in the EMEA region.
The role will provide a strong understanding of the UK regulatory environment, the EMEA businesses and Risk governance. It will prominently be involved in delivering and fronting risk to local management and market risk across market, credit, operational, liquidity and franchise risk processes.
Opportunities also exist to broaden the breadth of cross firm experience across the products and functions in a general senior management leadership role.
Significant relevant experience and applied knowledge in UK and EU regulations.
Knowledge of Citi's markets businesses
Risk management background, covering market, credit and operational risk
Experience of legal entity risk
Substantial experience in strategic planning, and project management
Senior leadership experience of teams in different locations, preferably in a global / complex / matrix organisation
Recognised leader who embraces change and has proven experience of delivering strategic initiatives
A proven track record of advocacy and liaison across diverse stakeholder groups; including regulators, senior managers, legal entity mgmt., and large firm networks.
Considerable experience in the field of financial services and/or banking
Candidates without the depth of technical expertise required but with an extensive organisational knowledge of regulated activities and products and a detailed knowledge of the firm's management and operating structure will also be considered.
Excellent written and oral communications skills, with a commanding and convincing delivery and the ability to synthesize complex concepts, translate into 'user friendly' language and effectively present in text or slide format.
Excellent stakeholder management skills, with the ability to understand drivers and overcome barriers.
Analytical, with the ability to comprehend complexity and engage strategically, analysing and interpreting large volumes of data
Will be conversant in the organisational skills demanded in order to operate in a large global company
Strong organisational skills and the ability to multi-task effectively in a high-volume and complex environment with changing priorities with a practical solutions-driven approach
Strong quantitative skills, particularly around statistics and strong attention to detail
Likely to be educated to degree level with a post degree and/or professional qualification.
Self-starter, ability to quickly assimilate and analyse large amounts of information across a variety of topics
Proven ability to partner and collaborate across the Firm, excellent influencing, facilitation, and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organisation
'Process Improvement' mind-set to increase the effectiveness and efficiency of the services offered
Strong tenacity and resilient under pressure and self-motivated in a fast paced and demanding environment
Highly engaged, strong attention to detail, and outcome oriented
The role demands a strong work ethic, willingness to 'roll up sleeves', with a tireless work ethic.
Strong analytical problem solving and the person should have a high level of integrity to deal with highly confidential data.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.
Citi is an Equal Opportunities Employer
Internal Number: 6125085
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