Regulatory Requirements and Obligations Identification Lead - Vice President

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your skills in legal, compliance, audit and risk management to Citi’s Legal Regulatory Requirements and Obligation (RRO) 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

This is an exciting opportunity to join a team with regional and global footprint in a global banking environment. The role will give the candidate the opportunity to expand knowledge of Middle East and Africa’s (MEA) / EU financial services regulations and make a significant contribution to key deliverables of the team.

Identification Lead/RCA is a critical role to deliver applicable laws, rules regulations to be assessed for applicability and actions. The Regulatory Change Identification Lead (“ID Lead”) will serve as the primary responsible party for monitoring Regulatory Changes (“RCs”) issued by regulatory authorities as defined in RM Scope in the RM Procedures in Middle East and Africa cluster. ID Leads will identify RCs through multiple channels including, but not limited to, monitoring websites, direct email notification from a regulator, and paper correspondence. Further, ID Leads will work with a third-party subscription service/vendor (via a law firm or aggregator services) to review the RCs identified by the vendor in the External Source Intake queue for assignment for applicability determinations.

Upon identification of an RC, ID Leads will create RC records. In instances where an ID Lead is also the RCA (non-NAM jurisdictions), the ID Lead will preliminarily assess the RC to identify Assessment Units (“AUs”) that may be impacted by the RC and the associated ICRM Regulation Coverage Leads. For RCs categorized as potential extra-territorial regulations (“ETRs”), the RC will automatically route to the Global ETR RCA Unit (managed by 2nd Line of Defense) and will be assigned to the Global & appropriate Regional RCA for review at an ETR Governance Forum. The output of the forum will include a determination if the RC is an ETR and guidance on how to interpret applicability which will be appended to the RC record for reference. The ID Lead will be responsible for applying the confirmed ETR Flag to the RC record, while the ETR Coordinator for the respective RC will assign the RC to the impacted RCA units for AU assignment based on the ETR Guidance material. Role covers multiple jurisdictions and hence requires other language skills (in addition to English) like French, Russian/Ukrainian.

What you’ll do

• Review LRRs identified by third-party subscription vendors and monitor assigned Regulatory Authorities to identify RCs in External Source Intake to disposition as applicable or not applicable.

• ID Leads will perform manual identification of RCs when a third-party subscription service/vendor (e.g., CUBE) is not available.

• Complete Scope Assessment questionnaire with consultation from P/F ICRM to determine scope, if needed.

• Upon identification of an applicable RC, create and submit a Regulatory Change Identification Record in Citi applications.

• The record will include, but is not limited to, the name of the change, a summary of the change, jurisdiction, regulator, compliance date, GRC Risk Taxonomy, whether the Regulatory Change is an ETR, URL of the regulatory text from the official regulator source (pdf may only be used when an official regulator source URL cannot be found), and the calculated risk tier. In addition, Regulatory Changes that are initiated manually must be linked to the automated (CUBE) source record.

• For non-NAM jurisdictions where ID Leads and RCAs are the same person, identify and assign RC to potentially impacted GAUs and their associated ICRM Regulation Coverage Leads.

• Regulatory Change Administrators (“RCAs”) would serve as a responsible party for reviewing RCs identified by the ID Lead for accuracy. RCAs are aligned based on expertise and enhance the accuracy of the RC assignment. RCA units subscribe to specific GRC Taxonomies and/or jurisdictions, and the RCAs aligned to those RCA units subsequently receive a notification for every RC record created that impacts the GRC Risk Taxonomies their RCA unit has subscribed to. RCAs can, if deemed necessary, (i) confirm the scope of the RCs, and (ii) assign additional potentially applicable AUs to the RC which would then be reviewed by the AU’s ICRM Regulation Coverage Leads.

• Timely execution of tasks in accordance with Metrics/KPIs due dates.

• Where they are the task owner or co-owner, escalate to relevant senior management where Program-d