BACKGROUND

Operational Risk Management (ORM) is an enterprise level independent risk management function responsible for enterprise-wide oversight and aggregation of operational risk. Its mandate covers all business lines spanning all geographies.

The ORM function oversees the design and implementation of the non-financial risk management framework. Key objectives of the risk management framework are:

**Operating model, staffing and culture:** Ensure the operating model across lines of defense is clear and consistent with sufficient resources, expertise, accountability and stature, and that it is enabled by structured training and awareness program to effectively manage and oversee operational risk

**Operational risk appetite:** Clearly articulate risk definitions and appetite and make sure they are aligned against the most critical business outcomes to ensure strategic relevance and application at business, country and entity levels and that Citi operates within its set risk appetite

**Control objectives and standards:** Ensure Enterprise Control Standard and controls design requirements are clearly articulated, and that control objectives and requirements are defined at appropriate risk category and sub-category levels to ensure consistent control design and effectiveness.

**Operational risk and control assessments and reporting:** Oversee that MCA is fit for purpose and is owned with full buy-in from the 1st line, and that it is supplemented by a suite of other fit-for-purpose assessments (e.g., risk category specific assessments, scenario analysis, and lessons learned). Ensure assessment results are communicated through clear reporting with thematic and actionable insights

**Strategic decision making:** Oversee that Risk Management practices, insights and tools are consistently embedded in day-to-day business processes and strategic decision-making to enable proactive issue identification and comprehensive remediation

POSITION OBJECTIVE

Reporting to the Operational Risk Executive Group Manager (who heads Cards Oversight across Branded Cards and Lending, Citi Retail Services, Enabling Functions Marketing; and Analytics), the **Operational Risk Senior Group Manager will lead Operational Risk Oversight of business activities/ functions across both Cards Businesses.** Within Citi, Cards businesses have the largest retail customer base by far out of all products and spans multiple complex regulatory and operating environments. The role will also own any other responsibilities assigned from time to time by the Operational Risk Executive Group Manager or the USPB ORM Head. This role provides oversight of USPBs implementation of key pillars of the ORM framework viz. risk identification, assessment, monitoring and mitigation of risk across all operational risk categories for the two Cards organization and activities in USPB. This role works closely with ORM teams like Operations and SMEs like Fraud, Technology and Cyber, Data Management, Third Party risk in both risk identification and risk appetite responsibilities.

The Operational Risk Senior Group Manager performs the role through proactive engagement with Front Line Business Units, and through effective oversight and challenge - in formal governance forums and in day-to-day management processes. **The objective is to ensure compliance with Citis Operational Risk Framework and policies as well as to meet regulatory Heightened Standards for the 2nd Line of Defense.**

BUSINESS COVERAGE SCOPE & INTERFACES

The 2nd Line Operational Risk Senior Group Manager leads the Independent ORM function across the Cards and Lending Product line lifecycle. The role has primary responsibility for independently assessing the operational risk profile of the Business as well as providing oversight and effective challenge across all elements of the operational risk management framework including MCA, identification of material risks, risk monitoring, the adequacy of risk mitigation as well as comprehensiveness of tail risk estimation for the Product through Scenario Analysis. The role plays a pivotal role in providing internal stakeholders as well as regulators with an aggregated and holistic assessment of operational risk and controls across the product.

The roles mission is to ensure 1st line creates lasting and sustainable solutions for minimizing losses from failed internal processes, inadequate controls, and emerging operational risks. Business coverage Op Risk Senior Group Managers accomplish this by

independently assessing risk, and challenging both historical and proposed practices,

monitoring and assessing the effectiveness of risk mitigation tools including internal controls leveraging data /analytics

maintaining a business lifecycle specific assessment of the most material and emerging operational risks to business activities and ensuring appropriate mitigation plans are in place,

assessing and reporting on the Business operational risk exposure/profile internally and externally,

appropriately assessing risk of new product and service initiatives

As a manager and leader, the Operational Risk Senior Group Manager is also responsible for

Recruiting, developing, and retaining a highly effective diverse team

Promoting a culture of transparency, integrity and well-founded decision making

Fostering a result oriented, accountable environment within the team and ensure alignment with ORMs overall strategy and priorities.

Driving efficiency and simplification of processes to be cost effective, streamlined and value add

The incumbent partners with the Business leadership, as well as the in Business Operational Risk function, to ensure effective implementation of the ORM Framework through pre-scheduled policy driven challenges as well as ad hoc monitoring through operational risk reviews.

To support this role, the lead will interact directly with several key interfaces which include, but are not limited to the following:

Branded Cards and Lending CEO and the Executive Leadership Team

Citi Retail Services CEO and Executive Leadership Team

Cards and Lending Product Owners and directs.

US Personal Banking Senior Operational Risk Manager and Business Control Head team (1st Line Risk)

Cards Extended Leadership including US Operations Entities Leadership

Consumer ORM Independent Senior Operational Risk Manager (ISORM) business coverage leads for US Businesses.

ORM Subject Matter Experts (e.g., Fraud, Tech & Cyber, Data Management, Model, Third Party Risk, Processing Risk)

KEY RESPONSIBILITIES

Responsible for end-to-end Cards and Lending from an operational risk perspective:

**1. Risk Identification Analysis and Assessment** : Identify trends and environmental developments that indicate emerging operational risks, proactively analyze multiple data sources to develop independent assessment of Product op risk profile, anticipate and assess the risks of changes in Business strategies across the Region as well as the Operating Plan, perform thematic risk assessments as required and develop an aggregated view of risk in the Product line, evaluate the risk associated with new product program approvals.

**2. Risk Challenge:** Perform effective challenge and oversight of the Business/Product with respect to MCA entities. Challenge both Risk Assessment and control effectiveness as well as quarterly entity ratings. Evaluate the identification of Key Operational Risks. Ensure the adequacy of KRIs to monitor operational risk across Branded Cards.

**3. Risk Mitigation** : Drive corrective actions to deal with root causes that can potentially lead to Op losses. Develop actions to apply lessons learnt and coordinate across regions for applicability. Work with 1st Line Operational Risk to implement corrective action and control recommendations to reduce risk.

**4.** **On going Risk Monitoring** : Continuously monitor relevant data, reports, and environmental and regulatory trends to support operational risk profile assessment for the Business/Product. Review op losses and MCA quarterly results including the identification of significant residual operational risks, review KRIs and breaches, IA and regulatory findings, and keep abreast of business developments and initiatives.

**5.** **Risk Escalation** : Evaluate escalation standards developed by the Business and require modifications as necessary. Ensure escalation of significant risk issues to the Consumer ORM Head and CRO.

**6.** **Governance and Oversight** : Represent independent ORM in all senior op risk Governance forums and be the prime 2nd line Op Risk interface for the Business/Product with the Regulators, IA, and Senior Risk Management.

**7.** **Risk Measurement** : Understand and communicate to business leadership the major drivers of Op Risk capital. Serve as the lead independent ORM challenger for Product relevant management overlays of recurring loss assessment in the CCAR process.

**8** . **Risk Appetite** : As applicable understand the contribution of NAM Businesses/Products to the metrics and monitoring of GCB Risk Appetite statements across risk categories and drive Business corrective action as needed for the product.

**9** . **Talent and People Management** : Recruit, coach, retain talent and foster a culture of collaboration and teamwork within and across ORM teams

QUALIFICATIONS & LEADERSHIP CHARACTERISTICS:

Job Experience

* Work experience of 15 years in the financial services industry with in-depth knowledge of Retail Consumer products and operations across products.

* Experience of managing operational risk or controls in 1st or 2nd Line of Defense - preferably in a financial institution.

* Sound knowledge of US Consumer product related regulations and industry standards including infrastructure requirements and related controls.

*Expertise in working with complex and rapidly changing, technology enabled businesses with a strong understanding of associated risks including tech, cyber and third party risks

*Track record of leadership positions in high volume Business Operations, Risk Management, IA, Compliance or related internal control fields with experience of interfacing with senior management.

*Experience of interfacing with US / International Regulators

Managerial Experience

* Experience of recruiting, retaining, and coaching a highly effective and diverse team of risk professionals.

*Successful track record of ability to influence and drive action without authority especially at senior levels of Business leadership in an oversight capacity.

* Evidenced record of innovative and independent thought leadership.

* Experience of driving efficiency and simplification of processes to be cost effective, streamlined and value add

* Fostering a result oriented, accountable environment within the team and ensure alignment with broader functional and enterprise level risk strategy and priorities.

Other Experience (Technical, etc.)

* Strong analytical and conceptual skills applicable across Consumer businesses, products, and customer classes.

* Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed and synthesizing conclusions fit for executive communication.

* Ability to design and develop effective risk measurement indicators and concepts.

* Proficient in MS Office applications necessary for executing on job responsibilities to design and develop effective risk measurement.

* Broad and in-depth experience in operational risk management including a successful track record of evaluating complex enterprise-wide risk management programs at a large financial services organization

* Business understanding of the products and services PBWM offers and how risk management practices impact downstream decisions made

* Track record of managing internal relationships and partnering with a range of stakeholders (e.g., business, functions) in leading sustained change and change management efforts

* Ability to create and articulate sense of purpose and common vision for Risk management

* Well-developed listening skills and a strong ability to communicate and engage at the senior management level, both orally and in writing

* Strong leadership skills with a proven track record of working with a diverse range of skill sets and perspectives

* Ability to constructively challenge others at all levels and across boundaries to deliver better results

* Continuous improvement mind-set to solve for root causes, assess impact of actions and adjust as needed; simplify and standardize at every opportunity

* Strong communication skills verbal and written- and ability to develop high quality executive communication materials

EDUCATION, KNOWLEDGE, EXPERIENCE AND QUALIFICATIONS:

15 years of domain experience in Credit Cards and Lending businesses with at least 5 years in 2nd or 3rd line senior positions preferably

Proven subject matter expertise in Operational Risk management including controls engineering

Subject matter expertise and firsthand experience of sound risk management in Product/New Activity governance

Track record of success in implementing / managing risk management and governance related to product and activity change

Masters Degree/specialized training in risk management preferred

Effective management of operational risk requires the ability to connect the dots and understand a variety of operational risk category exposures that are inherent in business strategies and operations. Even within the same product or process risks can range from fraud and technology risk to third party and processing risk with potential compliance related implications across all risk types. This requires a sound knowledge of the most important regulations applicable to consumer products and operations, good working knowledge of high-volume retail operations, basic knowledge of major technology platforms used by the Business as well as the credit risk cycle.

------------------------------------------------------

**Job Family Group:**

Risk Management

------------------------------------------------------

**Job Family:**

Operational Risk

------------------------------------------------------

**Time Type:**

Full time

------------------------------------------------------

**Primary Location:**

Irving Texas United States

------------------------------------------------------

**Primary Location Full Time Salary Range:**

$170,000.00 - $300,000.00

In addition to salary, Citis 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:**

Jun 11, 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.

Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review **Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm)** .

View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeo_aa_policy.pdf) .

View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp_ English_formattedESQA508c.pdf)

Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.