Business Risk Senior Group Manager - US Citigold/Citi Private Client Wealth Supervision

The Head of US Citigold/Citi Private Client Wealth Supervision manages a team of over 50 FINRA-licensed colleagues responsible for the supervisory oversight of investments sales activity and client suitability across Wealth’s Citigold/Citi Private Client Retail Branch Network. Candidate is responsible for establishing, maintaining, and supervising compliance with applicable securities laws and regulations to prevent and detect violations thereof.  As the Head of US Citigold/Citi Private Client Wealth Supervision, candidate has oversight of locally registered Relationship Professionals’ investments sales activity and client suitability of those products in compliance with Citi’s Retail Distribution of Investment Products and Services (“RDIP”) Policy and associated standards. Oversight also includes applicable regulations as outlined by the SEC, FRB, OCC, NYSE, FINRA and state regulatory rules and regulations, as well as the Firm’s policies and procedures. Regulations include but not limited to: SEC Regulation Best Interest, DOL PTE 2020-02, Reg S, Reg D, Reg W, Reg 9, Cross Border Activities (non-US securities regulatory regimes), Servicemembers Civil Relief Act (SCRA), FINRA 2090 (Know Your Customer), FINRA 2111 (Suitability), FINRA 2121 (Fair Practices and Commissions), FINRA 3110 (Supervision) including importantly 3110(a) Supervisory System and 3110(b) Written Procedures.

Candidate will drive strategic direction of the team and requires solid conceptual/practical understanding of supervisory processes and systems leveraged within US Citigold/Citi Private Client Wealth. Candidate requires excellent communication skills to drive process enhancement across the Business, Control Partners, Second and Third Lines of Defense.  Some external communication/negotiation may be necessary. Position is accountable for end results, budgeting, planning, policy formulation and enhancements and contribution to future strategy within Wealth Supervision.  Full management responsibilities of multiple teams, including management of people, budget and planning, performance evaluation, compensation, hiring, disciplinary actions and budget approval.

Responsibilities include:

• Escalation-point for Product-Function Compliance, Compliance Surveillance, regulatory, litigation, disciplinary, and HR matters

• Business SME and/or working group Supervision lead: Regulation Best Interest, RDIP, OCC RNDIP, Actimize supervisory platform, Heightened Supervision, Sales Practice Incident, Mutual Fund/UIT, Non-traditional ETF, Structured Products, Alternative Investments, Non-Traded REIT, Low Priced Securities, Digital Asset Investment Product, Margin and Securities-Backed Lending, Servicemembers Civil Relief Act, Gifts & Entertainment, Pricing, Vulnerable Adult, and others

• Authors and implements Written Supervisory Procedures in accordance with FINRA 3110(b) and their associated monitoring routines

• Owns Issues and Corrective Action Plans (CAPS) resulting from self-identified issues, and those identified through periodic monitoring routines and exams by the 2LOD and 3LOD, and external regulators

• Frequent weekly interaction with the Field, Compliance, Legal, Risk & Control Partners in the preparation and delivery of relevant firm and regulatory content

• Accountable for management of complex/critical/large professional disciplinary areas.

• Oral presentations to regulators when required

• Define Business & Functional specifications for technical enhancements and write the associated requirements documentation

• Ability to identify automation and efficiency opportunities

• Requires a comprehensive understanding of multiple areas within a function and how they interact in order to achieve the objectives of the function.

• Applies in-depth understanding of the business impact of technical contributions. Strong commercial awareness is a necessity.

• Generally accountable for delivery of a full range of services to one or more businesses and geographic regions.

• Ensure that emerging risks identified are socialized with key stakeholders and mitigation strategies are in place.

• Identify areas of engagement based on level of investment, inherent risk, complexity of change and other risk factors

• Execute Risk Control coverage strategy, ensure appropriate risk mitigation actions are in place and escalate to senior management as appropriate

• Provide supervision of Risk Control team's efforts and assist with prioritizing and addressing roadblocks encountered

• Leverage reporting to identify trends, themes and areas requiring improved controls

  • Drive Manager's Control Assessment monitoring, quarterly approvals and improvements required and regulatory cha