Serves as key credit cards product and unsecured lending compliance risk manager and thought leader for Independent Compliance Risk Management (ICRM) responsible for establishing internal strategies, policies, procedures, processes, and programs to prevent violations of law, rule, or regulation and design and deliver a risk management framework that maintains risk levels within the firm's risk appetite and protect the franchise. In addition, engages with the ICRM product and function coverage teams, to partner to develop and apply CRM program solutions that meet business and customer needs in a manner consistent with the Citi program framework. This role is responsible for developing and executing the strategy for the firm's Independent Compliance Risk Management (ICRM) program for our credit cards products and unsecured lending in line with and supporting the business strategy globally. Oversees the development and implementation of best-in-class ICRM policies and practices, and act as a liaison with key regulators on ICRM issues. In addition to, this role will partner closely with Anti-Money Laundering (AML) Compliance to ensure a strong linkage between core ICRM and AML Compliance. The role represents credit cards products and unsecured lending with internal and external stakeholders, including Citi management, Business, Compliance, and Function executives and regulators. Provides sophisticated compliance and risk management advice, subject matter expertise and participate in and oversee a variety of governance and planning initiatives at the senior level. This role will manage a team of Compliance Officers who provide compliance advisory services, design key risk indicators and compliance monitoring programs, identify reporting metrics associated with regulatory compliance program execution, and develop corrective action plans to address deficiencies.
Responsibilities:
- Overseeing the design, development, delivery, and maintenance of best-in-class Compliance, programs, policies, and practices and sets strategic ICRM direction. Translates ICRM strategy and goals across Citi’s clients, products, and geographies in a succinct and clear manner; provide direction and guidance on the program.
- Leading and managing a staff of Compliance professionals, with direct accountability for hiring and organizational structure. Direct oversight for compensation, performance appraisals, staff development, training, etc. Provides input on performance and compensation recommendations for staff and utilities that provide related services on a matrix basis.
- Providing oversight and guidance over the assessment of broad complex issues, structures potential solutions and drives effective resolution with other senior stakeholders. Provide advice to the businesses on an ongoing basis on new credit cards product and unsecured lending initiatives, new products, business acquisitions, and client-related matters with respect to applicability of policies, resolution of potential red flags or other client/transaction-related compliance escalations.
- Assisting in setting annual individual goals that support overall compliance risk management strategy.
- Coordinating with compliance heads to align individual programs and objectives with compliance strategy and risk appetite.
- Representing Chief Compliance Officer in significant strategic initiatives as requested.
- Collaborate with first line of defense teams to provide compliance advice and guidance on existing and new activity processes, helping to shape a product that is both innovative and compliant.
- Building relationships with stakeholders by exhibiting strong subject matter expertise and bringing a sense of urgency to pro-actively support client groups.
- Building and maintaining strong relationships with other functional heads, working closely with Legal, other control functions, and Internal Audit to create a supportive and seamless culture of compliance, control, ethical conduct, and risk mitigation.
- Providing leadership in collaborating with regional teams to set global direction, standards, and plan execution.
- Providing leadership in creating and implementing policy and establishing the compliance risk management framework supporting the policy.
- Providing guidance to the thematic Compliance programs on the resolution of open issues related to audit and examination findings; report progress to senior ICRM and Business/Function management as appropriate.
- Proactively anticipate and help the business plan for changes in the compliance and regulatory environment.
- Providing counsel to ICRM and credit cards product and unsecured lending management on policy interpretation and “gray area” exposures.
- Establishing professional relationships with relevant regulatory bodies and represent Citi and Compliance on regulatory matters as required.
- Handle any regulatory inquiries or examinations related to the credit card product.
- Serving as the liaison with regulatory examiners, Internal Audit, and external auditors on all significant Compliance issues involving credit cards product and unsecured lending and overseeing implementation of related remediation.
- Conduct and supervise regulatory risk assessments and monitoring/testing thought leadership, creating action plans to mitigate identified risks.
- Stay up-to-date with, and coordinate action plans for, changes in laws and regulations related to credit card products and services, interpreting them and advising the team accordingly.
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- Additional duties as assigned.
Qualifications:
- Highly motivated, strong attention to detail, team oriented, organized
- Strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging
- Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques, structure potential solutions, and drive to resolution with senior stakeholders
- Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
- Experience managing diverse teams, and comfort navigating complex, highly-matrixed organizations
- Extensive experience working with US regulators
- Comfortable acting as an agent for positive change with agility and flexibility
- Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management skills are essential
- Articulate and effective communicator, both orally and in writing, with an energetic, charismatic, and approachable style. Candidates must have effective persuasion skills, the ability to work effectively at the highest levels of the organization, and will display highly effective networking and influencing skills
- Executive presence and a reputation for building strong relationships with stakeholders and leading teams, both direct reports and in peer/influence models
Education:
- Bachelor’s degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; experience and current knowledge of credit cards products and unsecured lending, including interpretation and application of all related laws, regulations, and directives. Experience managing a diverse staff; Advanced degree preferred
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Job Family Group:
Compliance and Control--------------------------------------- ---------------
Job Family:
Product Compliance Risk Management-------------------------------------- ----------------
Time Type:
Full time------------------------------------- -----------------
Primary Location:
New York New York United States------------------------------------ ------------------
Primary Location Full Time Salary Range:
$250,000.00 - $500,000.00
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.
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Anticipated Posting Close Date:
Jul 08, 2024---------------------------------- --------------------
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