Markets Operations Risk and Controls Oversight

3 weeks ago

Belfast, United Kingdom Citi Full time

**Overview of Citi**

Citi is a world-leading global bank. We have approximately 200 million customer accounts and a presence in more than 160 countries and jurisdictions worldwide. We provide 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. We enable clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.

Citi Belfast is one of the largest employers in Northern Ireland with a diverse and talented team of over 3000 people from over 40 different nationalities across our four Belfast offices.

We are the only global investment bank operating in Northern Ireland. Every day, our local experts interact with global teams in over 100 countries developing and supporting next-generation technology solutions for the enterprise and delivering critical services to the bank and its customers, to make sure we are a stronger and safer organization for our clients. You will have a truly global reach, which will provide you with new experiences and development opportunities right here in Belfast’s iconic Titanic Quarter.

**Job description**

The goal of the Operations Risk & Controls Oversight team is to develop and maintain a comprehensive process to proactively identify and reduce operational risk. As a senior member of the Markets Operations Line Control team, the incumbent will be responsible for developing and maintaining comprehensive processes to identify and reduce operational risk; their main focus will be
on the Global Markets Cash Securities Settlements Operations team. Risk areas include but are not limited to BAU Operational process, Regulatory requirements, Internal Policy adherence, New Business initiatives, Issue & Corrective Action Plan Management and Internal & External Audit exam participation. Partnering with operations line staff, this role will be responsible for assisting in the proactive management of operating risk and remediation of control issues. This requires co-ordination across numerous internal operations teams, as well as various other support and control groups within the 2nd and 3rd lines of defence within the organisation.

**Key Responsibilities**:

- Point of contact for Global Markets Cash Securities Settlements Operations staff for Control related activities Overseeing and coordinating a Regional Control team to focus on initiatives in partnership with Senior Operations officers
- Proactive review of Global Markets Cash Securities Settlements Operations related control processes and reporting Participate in evaluating critical; Strategic and Tactical Change; Policy and Process updates; Regulatory requirements etc.
- Support and interface to Internal and External Control organisations (Internal/external audit, Regulatory, ORM, Compliance, Finance etc.)
- Management and oversight of Corrective Action Plans (CAPs) ensuring Issues are sufficiently remediated and lessons learned are shared across the Global Operations unit
- Complete detailed reviews of Operational Risk Events ensuring lessons learned are shared across applicable business lines.

**Other responsibilities**:

- independently asses risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
- Governance and oversight may include (not limited to) technology operational risk, cyber risk for example.
- Serves as an oversight function working with the In-Business OR and Independent Risk Teams
- Drives - Operation Risk Anticipation, Mitigation and Loss Recovery (and respective Recovery Plans)
- Ensures Operation Risk Policy implementation and exception approvals
- Informs Operational Risk Council on Sub-Segment Level OR related matters
- Attends In Business Risk Committees
- Leads
- oversees the annual Key Risk Indicator (KRI) reviews
- Monitors KRCIs triggers and thresholds and the analysis by the Business
- Liaises with Business ORM on breaches and action steps to correct breaches
- Communicates and Escalates breaches in KRCIs at the Segment Level
- Works on T-10 (deep dive - root cause analysis) with support of In-Business ORM and drive corrective actions
- Exports best practices and common risk, controls and corrective actions through Framework Papers
- Ensures that Citi wide KORs and KRCIs are communicated and understood by Businesses

**Qualifications**:

- Relevant experience
- Significant experience in Operational Risk is a must. Other risk and control disciplines would be a plus - credit, and market.
- Strong people management skills with prior experience of leading teams located in multiple locations
- Willingness to question/challenge existing processes and ensure a satisfactory outcome with Sen

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