Business Risk Officer

6 months ago

Mumbai Maharashtra, India Citi Full time

Citi’s Client organization focuses on strengthening how we deliver for clients across the bank by taking a comprehensive view of our client relationships, ensuring that we deliver one Citi in a consistent and disciplined way through a centralized view of our client strategy, segmentation, and coverage model. Citi’s Client organization brings together key capabilities pertaining to:

- Marketing and Content
- Research
- Financial Resources Management
- Client data and Analytics
- Business Development
- Institutional Credit Management

This role will report into the Regulations Management Lead (BAU) (C14) and will be responsible for implementing key processes and establishing adequate governance around ‘Regulatory Change’ process and one-off regulatory applicability assessments required. In addition, the role will be working closely with 1st, 2nd and 3rd LoD teams towards enhancing the businesses control framework to ensure compliance with applicable Laws, Rules and Regulations.

This is an exciting opportunity for a motivated professional with a strong understanding of regulations management, associated risks and controls and a keen interest in establishing robust processes, and governance in-line with Citi Client’s strategic objectives.

**Key Responsibilities**:
**‘Regulatory Change’**:
This is First Line Risk Officer role supporting the Citi Client business unit in its entirety and will be primarily coordinating and completing ‘impact assessments’ associated with regulatory changes and verifying that businesses teams take appropriate remediation action to comply with these changes.

This role is expected to engage with a. multiple business teams under the Citi Client organisation, Independent and Product Compliance Risk teams and/or Subject Matter Experts (“SMEs”) as part of managing and coordinating the regulatory change workflow.

Key tasks include:
Coordination of ‘Impact Assessments’ of regulatory changes assigned by various ‘Compliance Leads’ and identification of other Client functions, potentially impacted by new or updated regulatory requirements.

Effective and efficient management of the ‘Regulatory Change’ process by:
Engaging with appropriate SMEs including the Regulations Management, Independent and Product Product Compliance teams or Legal Counsel as required, to obtain guidance and interpretation of laws, rules and regulations; Monitoring progress of each stage of regulatory assessments, challenge adequacy & timeliness of execution efforts through effective use of Citi tools, platforms and the systems; Executing assigned tasks timely based on Metrics/Key Performance Indicators (KPIs) and due dates; Escalating ‘Overdue’ tasks to the relevant senior management in accordance with governance and escalation protocols established by the Regulations Management Program; Supporting Citi Client business teams in creating remediation plans in instances of regulatory non-compliance Ensure the adequacy of controls, monitoring and reporting over the Regulations Management process. Completing and submitting completed assessments to the Senior Business/Function Manager for approval.

**Regulations mapping**:
Oversee progress of each stage of regulatory mapping process, challenge adequacy & timeliness of mapping remediation, based on Metrics/Key Performance Indicators (KPIs) and due dates, through effective use of Citi tools, platforms and systems;

**One-off regulatory** assessments:

- Partner with Client businesses/ functions and Product Compliance to ensure that relevant regulations are mapped for newly created Assessment Units (AUs) and supporting maintenance of Regulation to AU mapping for significant change scenarios.
- Coordinate and monitor timely completion of Client involvement in one-time reviews of Laws, Rules and Regulations as requested by the relevant Country and Product Compliance teams.
- Work with Client organization to ensure that there are appropriate controls to comply with applicable Laws, Rules and Regulations.

**Experience and Skills**
- At least 7 years’ experience in a business risk & controls, corporate governance, or assurance domains.
- Prior experience in regulations management; experience in implementing regulatory change would be preferred.
- Proven experience in interacting with 1st, 2nd and 3rd Lines of Defence in the context of Regulatory Compliance related matters.
- Ability to operate independently with limited oversight, following a “no surprises” approach.
- Excellent written and verbal communication skills; ability to lead multiple projects, multitask and deliver results against agreed deadlines.
- Ability to work proactively and collaboratively in a fast pace, dynamic environment, with people at all levels of seniority and across different geographic locations
- Range of experience demonstrating flexibility in skillset and approach.
- **Job Family Group**:
Risk Management
- **Job Family**:
Business Risk & Control
- **Time

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