Wealth Operations 2nd Line of Defense - Operational Risk Vice President

Location: Getzville

Job d:

Location:

Getzville, New York, United States Salary: $92,000.00 - $Category:
Risk Management Company:
Citi Discover your future at Citi Working at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.

Job Overview Reporting to the 2nd Line Operational Risk Director, who has responsibility for oversight of Wealth Operations 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 Vice President (Operational Risk 2nd Line of Defense Lead) is responsible for supporting effective oversight and independent challenge of Citi’s Wealth Operations functions 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 role is performed through proactive and direct engagement with 1st line business partners via daily interaction, independent assurance, and participation in key business risk and control forums.

Individuals in Operational Risk establish and manage operational risk policies, propose strategies, and oversee the governance of processes designed to minimize losses from inadequate controls, fraud, and other potential operational risk events This includes supervision of 11 different risk categories, inclusive of technology risk, processing risk, cyber risk, and fraud risk, and more. This role is crucial to the company as it fortifies against potential operational risks, thereby protecting the company's financial stability and reputation, and contributing towards overall business resilience and success.

Business Coverage Scope The scope of this role is specific to Wealth Operations. Prime interfaces include but are not limited to:1st line business process/risk owners

Wealth Operations In-Business Risk and Control Heads Wealth ORM HeadORM Independent Senior Operational Risk Manager (ISORM) business coverage leads for other Wealth business and functions

Other ORM Executive Leadership Team(s) – Foundational Programs or Policy Teams Wealth Compliance Officers Wealth Senior Operational Risk Managers Enterprise ORM Risk Category SMEs (e.g., Fraud, Tech & Cyber, Data Management, Model, Third Party Risk, Resilience, Processing Risk, etc.).Responsibilities:
Contribute to oversight  of operational risk policies, technology, tools, and governance processes to create solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.

Oversee and assess the 1

LoD implementation of effective control measures to mitigate identified risks.

Independently assess operational risks in the business to ensure it is within the acceptable risk appetite.

Review and challenge the effectiveness of risk mitigation strategies and control measures implemented by the 1st line of defense.

Build and maintain effective relationships with Business Partners, establishing credibility by understanding the business, their needs, strategic priorities, and challenges.

Support internal and external audits and regulatory examinations, as applicable.

Promote a culture of risk awareness,…