Operational Risk Officer I - US Retail Bank and Mortgage

Citi is a leading global bank with approximately 200 million customer accounts who does business in over 100 countries and jurisdictions worldwide. Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments, and accessing the capital markets on behalf of our clients.

Citi’s Mission and Value Proposition  explains what we do, and our Leadership Principles explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background, and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

POSITION OBJECTIVE 

Reporting to the 2nd Line Independent Senior Operational Risk Officer who has responsibility for oversight of US Personal Banking  and Mortgage coverage, this position works closely with 1st Line of Defense including, in-business Operational Risk and Control Managers, as well as Independent Risk and other control functions (Compliance, Legal) in carrying out job responsibilities.

The Operational Risk Officer is responsible for supporting the effective oversight and challenge of US Retail Banking and Mortgage products with a heavy focus on end-to-end Controls, Monitoring and Risk oversight t of key processes.  This role is expected to evaluate key data elements which inform the risk profile of the business and provide insights specific to trends, themes, control failures or Operational Loss Event drivers in support of reporting and challenge activities (this includes Third Party service providers).  The Operational Risk Officer performs the role through proactive and direct engagement with coverage leads and 1st line business partners through daily interaction and participation in key business risk and control forums.

BUSINESS COVERAGE SCOPE

The scope of this role is confined to US Retail Banking and Mortgage with prime interfaces that include but are not limited to:

• Consumer Operational Risk coverage (Independent Senior Operational Risk Managers and their respective teams who cover other Products in US – e.g., Cards, Operations, etc.)
• Risk Category Owners (RCO) from other Citi level ORM functions such as Third Party, Fraud, Technology & Data Management, etc.
• Independent Credit Risk and Compliance Risk Management
• In-Business Risk and Control partners

KEY RESPONSIBILITIES

Oversight & Challenge

• Foster strong working relationships with business stakeholders in support of establishing rapport and being viewed as a trusted risk resource/ advisor while maintaining and protecting the integrity of an independent, second line of defense coverage model.
• Keep abreast of latest operational risk management techniques, industry best practices and trends using an anticipatory lens.
• Lead the creation and development of risk and control related presentation materials for various governance forums (at many levels of the organization, including Internal Audit and External Regulators)
• Ensure business adherence to operational risk policies, standards, and procedures.
• Understand key or material risks which align with US Retail Bank and Mortgage Product to ensure that the Business is operating within Risk Appetite by leveraging resources and tools to draw accurate and sound conclusions for escalation to business.
• Escalate operational risk events within the Business and within ORM as appropriate with thoughtful approach and insights based on use of data.

Risk Identification, Analysis & Assessment

The Operational Risk Officer leverages all th