**POSITION OBJECTIVE** Reporting to the 2nd Line Operational Risk Senior Group Manager, who has responsibility for oversight of US Personal Banking (USPB) Operations. Chief Operating Office (COO) and Customer Experience 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 in fulfilling job responsibilities. The Operational Risk Senior Officer is responsible for leading effective oversight and independent challenge of Citi’s US Personal Banking Collections and Recovery Operations to ensure that the first line of defense can demonstrate effective Risk Management disciplines which includes strong operational risk identification, controls, and monitoring. This role is expected to independently evaluate key data elements which inform the risk profile of the first line of defense and provide insights specific to trends, themes, control failures or Operational Loss Event drivers in support of continuous monitoring and oversight of the product, function and impacting external third-party suppliers. The Operational Risk Senior Officer performs the role through proactive and direct engagement with 1st line business partners through daily interaction, independent assurance, and participation in key business risk and control forums. **BUSINESS COVERAGE SCOPE** The scope of this role is specific to US Personal Banking Collections and Recovery Operations. Prime interfaces include but are not limited to: + 1st line business process/risk owners + USPB Head of Collections and Recovery + USPB Operations In-Business Risk and Control Heads + USPB ORM Head + ORM Independent Senior Operational Risk Manager (ISORM) business coverage leads for other US Businesses and Functions + Other ORM Executive Leadership Team(s) – Foundational Programs or Policy Teams + USPB Compliance Officers + USPB Senior Operational Risk Managers + Enterprise ORM Risk Category Owners (e.g., Fraud, Tech & Cyber, Data Management, Model, Third Party Risk). **KEY RESPONSIBILITIES** **Governance & Oversight** + Ensure business adherence to operational risk policies, standards, and procedures + Influence Risk Culture within USPB Collections and Recovery Operations and other product/function Control Heads + Foster strong working relationships with first line stakeholders in support of establishing rapport and being viewed as a trusted risk resource and advisor while maintaining and protecting the integrity of an independent, second line of defense coverage model + Understand material risks which align with Collections and Recovery processes to ensure that the Business is operating within Risk Appetite by leveraging existing knowledge, resources, and tools to draw accurate and sound conclusions in support of independent challenge + Timely and effective escalation of operational risk events and/or control failures with thoughtful approach and ability to effectively influence business actions based on insights and learnings + 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) + Keep abreast of latest operational risk management techniques, industry best practices and thematic trends + Lead oversight routine execution of Collections and Recovery Operations **_Risk Identification, Analysis & Assessment_** The Operational Risk Senior Officer leverages all the core tools that are part of the ORM framework viz., the Manager’s Control Assessment (RCSA), Risk Identification (Material Risk Inventory, Key Indicators, Scenario Analysis, Internal and External Loss Analysis as well as independent Risk Assessments to provide effective oversight and challenge of first line of defense. Risk identification, analysis and assessment of current and emerging issues also requires collaborating with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product. Specifically, the role will require the Operational Senior Risk Officer to: + Proactively analyze various data sources to form an independent assessment/opinion of operational risk with prompt and effective escalation to business leadership + Assess external Third-Party suppliers – including those which provide technology and servicing solutions + Identify emerging operational risks by relying on monitoring of trends and mining of relevant metrics including business self-assessment, Internal Audit or Compliance reviews, Regulatory exams, internal and external loss data. + Continuously assess, monitor, and effectively challenge Operational Risk metrics in Collections and Recovery Operations to ensure Business is taking appropriate action to establish Path to Green or effective remediation. + Independently lead Operational Risk Independent Assurance, Control Testing, and Risk and Control framework assessments with an “anticipatory” approach vs. reacting to risk events and develop specific recommendations for the Business to action. + Identify changes in business strategy or relevant regulations that may lead to an increase in Operational Risk with initiative-taking engagement with 1st line of defense + Analyze horizontal Lessons Learned reports completed by the business to ensure that evidence of risk mitigation is evident where action is required + Support USPB Scenario Analysis assessment efforts where there are active and open scenarios which require monitoring **_Risk Mitigation_** + Challenge business proposed solutions to root causes of Operational Risk Events or control failures + Assess business changes where improvements are required to strengthen risk identification tools + Work as an independent partner to ensure that the business process controls mitigate risk and propose improvements to controls and/or monitoring proactively to prevent operational losses. + Challenge business level Issues and Corrective Action Plans to ensure adequate severity level setting, reasonable target dates and effective corrective action plans. **QUALIFICATIONS** _Education_ + Bachelor’s degree, Master’s degree preferred _Knowledge /Experience_ + Work experience of 10+ years in the financial services industry with in-depth knowledge of Consumer Operations processes, including: + Revolving and Installment Products + Call Center + Collections + Loss Mitigation + Recovery + Bankruptcy + Third-Party Oversight – specifically Collections/Recovery outsourcing risks + Minimum of 5 years prior experience in Risk Management (Operational or Credit) preferably in the 2nd line of defense. + Strong understanding of US Consumer product regulations, obligations, and requirements + Expertise and experience with business risk and control self-assessment processes (RCSA) + Direct engagement with and routine presentation to Internal Audit function and Regulators _Risk Management skills_ + Independent thought leader with focus on key operational risks which are most impactful to Consumer Collections and Recovery Operations. + Well-versed in breaking down complex matters into core issues and root causes that can be more readily addressed including insightful analysis of relevant objective data + Ability to identify and prioritize high impact risk issues promptly with senior leaders + Well versed in developing innovative ideas and improving current processes to create improved effectiveness and/or efficiencies + Ability to successfully influence without direct authority across businesses and functions + Clear understanding and ability to articulate the processes supporting a business unit’s function, controls, issues, and risks associated with the operations to identify gaps and proactively help deliver ideas for solutions _Client Relationships/Business Partnerships_ + History of establishing an effective voice at the table of the senior most Business leaders to function as a valued and respected independent risk partner + Adaptable to change and can navigate organizational complexity; demonstrates organizational savvy and intuition + Effective collaborator and contributor in dynamic and shifting teams as well as virtual ones. _Leadership_ + Provides leadership in optimization and efficiencies in control practices for the business + Fosters collaboration across businesses and across teams within ORM in the resolution of cross business issues + Effectively influences and engages with business and functional managers to mitigate risks + Thinks strategically and articulates concepts clearly considering all relevant and most viable options + Effective planning and organization skills to ensure that individual and/or team priorities are delivered timely and are high quality + Supports and willing to assist other priority areas across Consumer ORM coverage + Makes well-reasoned decisions under pressure + Open to others’ ideas or opinions and has the maturity to own mistakes to support lessons learned for future growth + Continuously evaluates organizational design and optimizes to meet ORM needs, business objectives as well as people development + Develops bench strength and recruits top talent in support of building high performing team _Competencies_ + Exceptional organizational, communication and presentation skills with ability to operate in fast-paced operating environment. + Ability to produce and deliver high quality presentations to business leaders and/or Regulators + Superior writing skills in support of high-quality risk summaries which inform risk assessments and Regulatory updates, or Senior level Governance forums + Expert proficiency MS Office applications – specifically PowerPoint and Excel ------------------------------------------------------ **Job Family Group:** Risk Management ------------------------------------------------------ **Job Family:** Operational Risk ------------------------------------------------------ **Time Type:** Full time ------------------------------------------------------ **Primary Location:** New Castle Delaware United States ------------------------------------------------------ **Primary Location Full Time Salary Range:** $144,480.00 - $216,720.00 In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire. ------------------------------------------------------ **Anticipated Posting Close Date:** Nov 18, 2024 ------------------------------------------------------ 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 veteran. 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