Markets Business Sanctions Risk Senior Officer I , SVP

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your knowledge of sanctions, skills in analysis and communication to Citi’s Markets Sanctions Financial Crimes Risk and Controls team.

By Joining Citi, you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Team/Role Overview

The goal of the Markets Sanctions Financial Crimes Risk and Controls function is to help establish and maintain a robust sanctions control environment and awareness across Markets globally.  Developing a proactive control approach assists management in achieving strategic objectives, promotes efficiency, reduces the risk of loss, and helps ensure compliance with corporate policies, procedures, laws, and regulations.  In addition, properly functioning internal controls enable management to deal with today’s rapidly changing environment and prepare for future growth.

The Markets Sanctions Financial Crimes Risk team directly supports a sales and trading environment and is looking for a highly energized, dynamic professional who is ready to join a fast-paced, world leader in the financial services industry.  The successful candidate will enhance Markets’ sanctions risk management by developing processes to collect data/information, including sanctions screening metrics, corrective action plans, system inventories, and screening procedures, and analyzing the information to manage sanctions risk and progression of remedial actions.  The candidate will also seek opportunities to enhance management reporting and develop automated solutions where possible.

What you’ll do

The incumbent will interact with key stakeholders including personnel from Business Management/Front office, Sales, Accounts Control, KYC Support Unit, Operations, Technology, and ICRM Sanctions to obtain data/information and develop risk management processes to support Markets sanctions risk management.  The position will report to the Markets Financial Crimes Sanctions Risk Head.

This is a senior role within the first line of defense team that oversees Markets sanctions risk and controls globally, and supports senior regional and global team members who carry on responsibilities established as Business Sanctions Risk Officers (BSRO) for Markets. Key responsibility is to ensure that sanctions risks are properly identified, escalated, and managed, you will also be expected to:

• Work collaboratively with Financial Crimes Risk seniors, Front Office, Operations, and Technology to assess sanctions risks on a client and product basis and evaluate sanctions controls. 
• Design control enhancements over sanctions processes, where needed, and lead projects to execute the controls. Enhance processes for responding to new sanctions programs, including implementation of comprehensive program for communication, assessing touchpoints, and consideration of control enhancements. 
• Maintain current knowledge and understanding of new and changing sanctions requirements and support continuous assessment of the impact on Markets clients, products, and services.
• Participate in initial pre-transaction review for permissibility, including intake, preliminary fact-finding and assessment, tracking, reporting; escalate to Compliance and Legal, where needed.
• Partake in Markets response to new sanctions programs, including communication framework, identification of existing touchpoints and exposures, and consideration of changes to control environment. 
• Document the processes developed and actions taken; track matters to ensure each are addressed and closed.
• Collaborate with ICRM Sanctions Compliance team regularly to ensure correct interpretation and application of sanctions requirements, and to address the annual Enterprise-wide OFAC Risk Assessment (EWORA) results.
• Assess potential changes to compliance policies and procedures regarding sanctions screening, consider impact to MSS of proposed changes, and work with key stakeholders to ensure appropriate implementation.
• Liaise with Compliance Assurance and Internal Audit to facilitate resolution of any issues identified.
• Maintain oversight through review of metrics, monitoring of activity, and tracking of corrective action plans.
• Prepare presentations to update senior management and various governance committees on sanctions developments, emerging risks, control issues and/or enhancements related to sanctions.

What we’ll need from you

• Bachelor’s degree required, MBA or JD a plus.
• Experience at a financial institution, consulting firm, law firm, regulator, or similar experience; Compliance or Legal background preferred.
• Extensive