SVP, Senior Operational Risk Officer - Consumer Operations - Collections
Location: Flower Mound
Posted on: January 26, 2023
This primary focus of this role is oversight of NAM Consumer
Operations with focus across businesses, including Cards and Retail
Bank, as well as any other responsibility assigned by the Consumer
ORM Business Coverage lead. The role involves oversight of risks
associated with Operations activities.
Prime interfaces for this role include:
Consumer ORM Framework and Risk Cycle Management team for expertise
in framework requirements, policies and procedures.
Other Consumer ORM Business Coverage teams for North America to
ensure consistent standards in oversight execution as well as
transfer of lessons learnt.
ORM Foundation team who leverage the Business ORM team for
expertise and escalation of issues.
ORM CAO, Governance, Audit and Regulatory Relations team to ensure
effective business management and regulatory interactions.
Franchise Risk Architecture Reporting team to support business risk
profiling and reporting.
NA Consumer 1st Line of Defense and Citi Business Operational Risk
and Control (CBORC) organization.
Governance & Oversight
Develop strong working relationship with the business within scope
to be a valued and respected partner
Together with the Business coverage lead establish an appropriate
engagement process with the Business to enable meaningful challenge
and oversight and participate in risk management focused forums
Assist Business Coverage lead / present relevant material as
necessary at senior level governance forums such as Business Risk
Reviews and Business Risk Compliance and Control Committees as well
as for meetings with important stakeholders like the Regulators,
3rd Line of Defense and senior management.
Ensure business adherence to operational risk policies
Execute responsibilities articulated in the ORM Policy for
independent operational risk managers including deep dives in to
any significant current or emerging risk areas
Ensure adherence to Consumer Op Risk procedures for independent
Business coverage risk managers and for the Business. Assist in the
continuous improvement of these procedures to strengthen 2nd line
of defense oversight.
Understand the linkages, and ensure Business is linking all tools
in place for managing the operational risk management cycle and
evidencing the feedback loop across MCA, KOR and KI process,
Scenario Analysis and Loss Analysis results on a continuous
Escalate operational risk events within the Business and within ORM
as appropriate with relevant context and risk assessment
Risk Identification, Analysis & Assessment
The Operational Risk Manager leverages all the core tools that are
part of the ORM framework viz., the Key Operational Risk
Identification and Key Indicator monitoring process, Scenario
Analysis, Manager's Control Assessment Challenge, Internal and
External Loss Analysis as well as Risk Reviews to provide effective
oversight. Risk identification, analysis and assessment of current
and emerging issues also requires working with Specialists in other
second lines of defense as relevant for individual risk types
associated with the business or product.
Identify trends, themes, tendencies that indicate emerging
operational risks by relying on mining trends in relevant metrics
(including MCA and IA data), loss data and external events.
Effectively communicate learnings to Business in order to drive
necessary responses and action.
Proactively analyze various data sources to form an independent
assessment/opinion of operational risk.
Assist the Business coverage lead in developing and implementing
the data mining and conceptual approaches necessary to establish
robust leading indicators and metrics to identify areas of
potential OR exposure and emerging risk to enhance loss
anticipation and mitigation.
Continuously monitor Key Operational Risks and related Key
Indicators to ensure the Business is taking appropriate action to
update them and respond to breaches.
Participate in and lead Risk Reviews to proactively identify
significant potential risks in the Business and develop specific
recommendations for the Business to action.
Identify changes in business strategy or relevant regulations that
may lead to an increase in Op Risk
Analyze losses in the Business to understand how losses were
incurred, determine lessons learned, identify root causes and use
in developing recommendations for risk mitigation
Support and lead challenges of MCA entity ratings quarterly and of
Annual Risk Assessments on a risk based frequency cycle.
Support Scenario Analysis efforts, and track and oversee Business
monitoring of triggers and action plans.
- Evaluate KOR/KI change proposals from the Business before
approval by Business Coverage lead.
- Review ORM Policy / Consumer ORM Exception requests before
approval by designated ORM approver.
- Assist in review of transactions proposed to the Consumer New
Product Approval Committee (CPAC) as well as any other significant
transactions, like the sale or purchase of a Business/Portfolio,
outside the CPAC process. Monitor business fulfilment of ORM
specified conditions in CPAC approval. Risk Mitigation
- Drive solutions to root causes that potentially can lead to op
- Develop actions or, as appropriate, projects to apply lessons
learned and share across relevant geographies/managed
- Work as an independent partner to mitigate risk and improve
processes and controls before risks materialize into op
- Evaluate control issues and ensure adequacy of Event Root Cause
Analysis and corrective action plans.
- Bachelor's Degree / Master's Degree in Business, Finance,
Accountancy, Law, Science, or other relevant fields.
- Training/Certification or experience in database/MIS management
tools a plus Knowledge and Experience
- Work experience of 10+ years in the financial services industry
in risk and controls assessment
- Leadership positions in Risk Management, Internal Audit,
Compliance or related field a plus.
- Well versed in breaking down complex matters into core issues
and root causes so they can be more readily addressed.
- Experience with CitiRisk and Controls and the Managers Control
Framework a plus.
- Business or Risk experience in Credit Card Collections is a
- Training/Certification or experience in database/MIS management
tools a plus Skills
- Strong analytical and conceptual skills.
- Independent thinker and able to perform a credible challenge of
- Ability to influence and convince without authority. -
Job Family Group:
Risk Management -
Irving Texas United States
Primary Location Salary Range:
$134,310.00 - $201,470.00
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to
their race, color, religion, sex, sexual orientation, gender
identity, national origin, disability, or status as a protected
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interested applicants to apply for career opportunities. If you are
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Effective November 1, 2021, Citi requires that all successful
applicants for positions located in the United States or Puerto
Rico be fully vaccinated against COVID-19 as a condition of
employment and provide proof of such vaccination prior to
commencement of employment.
Keywords: Citi, Flower Mound , SVP, Senior Operational Risk Officer - Consumer Operations - Collections, Accounting, Auditing , Flower Mound, Texas
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