Director-Operational Risk Management Head- India and South Asia

4 weeks ago

mumbai, India Citi Full time

The Operational Risk Management Head- India and South Asia (Sri Lanka and Bangladesh) is in the second line of defense. The job holder manages team of senior operational risk professionals and will report to cluster head of ORM for Asia South. The candidate will be responsible for driving the Risk and Control framework and through challenges and recommendations ensure process design, control enhancements are improved in operations across business, products. In addition to providing inputs through credible challenges the job will also require contributing for the overall governance of the franchise to be further strengthened across India and Indian sub-continent. The role is expected to bring thought leadership to the business.

The job requires a broad and comprehensive understanding of the different systems, theories and practices relevant to a function as well as practical experience of multiple businesses. In-depth knowledge of the industry is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the business, combined with a solid conceptual/practical grounding in both the function and/ or area of expertise. Excellent communication skills and leadership skills are key to influence a wide range of audiences. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Develops medium- to long-term plans and executes functional strategies for a large/complex country, and business requiring coordination and integration across units. Provides input into strategic decisions affecting job family or function within a region or business. Responsible for handling staff management issues, including resource management and allocation of work within the team/project. Has authority to negotiate and make independent decisions on issues/activities that have critical impact or influence on company revenues, capital or business operations.
Responsibilities:

Provide ORM coverage for ICG businesses across all legal vehicles in India, covering BCMA, Markets, Treasury Trade Solutions, Securities Services, including related back office and support functions. Work in tandem with key stakeholders in the country to proactively identify, analyze and mitigate risks, implement, and assess controls, prevent losses and assist recoveries, improve effectiveness of MCA, and support the first line in managing operational risk situations as they arise. Establishes and oversees the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks. independently assess 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. Works with colleagues in other areas of Risk Management, Finance, Compliance/Control and the Businesses to assure appropriate management of Operational Risk processes: Provide senior management and the Board of Directors with an independent view of the firm’s operational risk profile. Promotes the use of risk indicators. Supports corporate initiatives, including those related to Operational Risk and the alignment of capital assessments with risk management objectives. Drives the strategic direction of Operational Risk Management for the group, working with colleagues around the globe. Identifies emerging operational risks in the context of the current economic, regulatory and business environment and assure that measures are being taken to mitigate these risks. Analyzes operational risk data (typically losses, metrics or assessment results) to identify areas of excessive risk and to ensure that mitigation efforts are having the desired effect(s). Investigates causes for metrics that are deviating from trends and escalate situations that pose excessive risk(s). Identifies root causes of major internal losses and ensure actions are taken to reduce the risk of loss from similar causes. Upholds the Operational Risk Policy: Provides Operational Risk oversight to assure policy and regulatory compliance. Facilitates adherence to specific regulatory requirements for the franchise, including the International Convergence of Capital Measurement and Capital Standards ('Basel II'). Interfaces with Regulators on Operational Risk matters. 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.

Qualifications:

15+ years relevant experience The candidate must have in-depth, detailed knowledge of ICG products and services; and domain experience in Operations and/or Risk & Controls Adaptive – demonstrates flexibility and a positive attitude towards change. Ability to deal with ambiguity and work in a non-structured environment. Enthusiasm and Energy – combined with a clear sense of how to ‘make it happen’ through teamwork and senior management engagement and commitment. Builds partnerships across functions and clusters; collaborates well with others. Outstanding communication and influencing skills through all levels of the organization and with external partners and vendors Exceptional relationship management skills; must be able to address and resolve conflict while maintaining relationships. Prior people management experience with demonstrated ability to coach, mentor and guide the team. Experience in dealing with managers / stakeholders within cluster and at global level. Well versed in breaking down complex matters into core issues and root causes that can be more readily addressed. Has led and/or successfully influenced cross-functional and/or geographically diverse initiatives. Detailed oriented with analytical skills, as the role requires a large amount of data analysis and presentation. Consistently reads different situations accurately and takes appropriate action to gain senior colleague/ client commitment. Acts decisively in high-risk scenarios, assessing a situation based on available data, experience, intuition, and judgment. Ability to respond to challenges with creative solutions, adapts to changing business needs. Demonstrated ability to make sound judgment calls on issues that can be both quantitative and qualitative in nature. Acts as a role model for managing people, coaching, and serving as a mentor. Champions diversity and seeks to recruit, retain, and develop talent. Supports mobility. Excellent Communications skills verbal & written. Active listening skills. Prior experience in Core Operations, Operational Risk Management, Risk Assurance, Risk Consulting, or Process Management roles. (preferred)

Education:

Bachelor’s/University degree, Master’s degree (preferred)

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Job Family Group:

Risk Management

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Job Family:

Operational Risk

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Time Type:

Full time

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