Wealth Controls Monitoring and Testing Senior Analyst

The Wealth Monitoring and Testing is responsible for the testing of controls that are designed and owned by Citi’s Wealth departments.  The Business Risk Officer is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business.

The Citi Wealth business delivers a comprehensive wealth solution to clients across the wealth continuum, with integrated advice and execution, as well as traditional and alternative investments, managed account strategies, world-class research and investment guidance. The Wealth business serves ultra-high-networth individuals and family offices through Citi Private Bank, operates in the affluent and high-net-worth customer relationship tiers of Citigold® and Citigold Private Client and offers wealth management in the workplace through Citi Global Wealth at Work.

This role is responsible for end-to-end control testing for a specific business or products – i.e. controls performance assurance/testing – which includes design, execution, results reporting, and insight sharing related to the above scope of controls testing.  Additionally, this role will support the rollout of the new Control Design Assessment (CDA) and Monitoring Design Assessment (MDA) requirements as per the Manager Control Assessment (MCA) standards.

Excellent management and communication skills required to articulate rationale or explanation on findings.  Diplomacy and partnership required to work through control testing outlier disputes, with focus on improving overall control effectiveness.  Accountable for timely and complete controls testing results and advice regarding the controls execution.  Provide clear written summary of findings and explanation of results from Control Design Assessment and Monitoring Design Assessment. 

This role will ultimately report to the Head of Wealth Monitoring and Testing.

Responsibilities:

• Design and execute monitoring tests against control activities to assess the control effectiveness.
• Review and maintain monitoring activities on a periodic basis to ensure they are “fit for purpose” with the activity, risk, and control.
• Identify, document, and communicate issues as well as recommending appropriate and pragmatic solutions to risk and control issues.
• Develop control testing procedures and other documentation, ensuring approval where necessary, adherence to standards and maintained on regular basis.
• Timely and accurate entry of all controls monitoring test results into the relevant Monitoring and Testing tools.
• Adhere to Control Design Assessment and Monitoring Design Assessment framework as implemented by Team Lead and management across Wealth Controls.
• Partner and cross train on all designed control testing tools and established control testing procedures.  Provide coverage for CDA / MDA to global Monitoring and Testing teams.
• Partner with Business AU Owners, Control Owners, Business Control Heads, and other stakeholders or partners (e.g., Second Line of Defense partners) to ensure adequacy of Control / Monitor Design Assessments
• Identify and escalate emerging risks resulting from controls testing findings and engage with business partners in support of root cause analysis.
• Partner with relevant teams within Risk and Controls for the set-up of new controls and changes to existing controls within the Manager Control Assessment.
• Continually build best practices and improvements into all aspects of assigned controls monitoring work and tests – embrace learning and translate those learnings into improved tests – e.g., digital monitoring, sample size selection, frequency, evidence-gathering process improvements, etc.
• Contribute to the development of monitoring and testing processes improvements – standardization, optimization and automation where possible.
• Decision making approach on controls testing outlier disputes, consulting with appropriate business partners and knowing when to escalate.
• Support other work efforts of the department where needed, including wider Wealth Control initiatives or as directed by their manager.
• Create materials for management as needed and investigates causes for results that are deviating from trends and escalate situations that pose excessive risk(s).
• Make use of data from various systems and repositories to develop a thorough understanding of the business area being tested or monitored, including identification of trends, anomalies, outliers and red flags.
• Develop and maintain effective relationships with business partners, MCA team, and functional management to ensure availability of accurate and complete information so