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Operational Risk Grp Manager
2 weeks ago
Role: The Third Party Officer "TPO" is a new role as part of Citi's Third Party Risk Management program. The Third Party Officer is responsible to focus on those third parties which carry the highest degree of risk for Citi's businesses. The TPO requires in depth business product knowledge and expertise and will manage the third party relationship across all stages of the lifecycle. The TPO will work in concert with business operations and technology teams, as well as internal functions, to identify, manage and mitigate risk. The TPO will be supported by the Enterprise Supply Chain Third Party Utility which is responsible for the execution of standard third party risk management activities that can be conducted centrally to drive operational efficiencies.
Responsibilities:
The Third Party Officer is responsible to:
- Gain thorough knowledge and understanding of Citi Third Party Risk Management requirements and Markets Operations outsourced portfolio
- Represent business leadership in coordinating third party risk requirement
- Evaluate current market conditions and provide insight on trends/issues
- Complete initial Risk Assessment for third party and reevaluate as required; identify any significant changes in relationship to trigger update of Risk Assessment
- Create, carry out and maintain a Management Plan, as required
- Verify third party's compliance to required policies and controls
- Conduct on-site visits of third party, as required
- Develop, document and update Citi's Exit Strategy Plans as required; when the exit strategy poses significant risk to Citi, work with business contacts to establish appropriate risk mitigation activities to minimize risk to Citi
- Interact with third parties on escalations of non-performance and contractual issues to drive resolution when appropriate
- Maintain summary dashboard of third party performance and understand performance, including SLA breaches
- Monitor third party performance and SLA's; either directly or through coordination with other Citi stakeholders
- Maintain the list of SLAs/SOWs in Citi's Contract Management System (eSourcing); working with Enterprise Supply Chain (ESC) organization if re-negotiations are required
- Review, assess and act on results of Risk Management Assessments/Analysis (including but not limited to: IS, COB, DPO, Export, Credit Risk, Country Risk, Financial Evaluations, etc.)
- Own and lead remediation of any issues or gaps identified from ongoing monitoring.
- Define risk mitigation strategies and risk exceptions based on the business' risk appetite
- Provide Thought Leadership to drive supplier optimization and efficiencies
- Enhance productivity of third party service delivery and identify cost reduction opportunities from efficiency/alternative demand scenarios
- Standardize SLA performance monitoring measures for like services, where possible
- As appropriate, interact with larger TPO community and/or ESC category leads for best practices sharing and coordination of services
- Liaise with the ESC Third Party Utility, as necessary, to review and respond to the results of third party risk management activities conducted centrally by the Utility
- Draft and present succinct executive briefs; prepare and present high-level metrics to applicable Citi senior management and stakeholders
- Serve as point of contact to ensure Third Party's remediation of audit or exam issues is sufficient and escalate as necessary
Qualifications:
- Preferred Candidate with 10+ years of relevant experience in Supply Chain Management, risk management and/or regulatory compliance in one or more of the following risk disciplines: technology risk, business continuity, operational risk, supplier risk, or audit and controls. Broad knowledge of other risk areas, with strong understanding of supplier or third-party risk impact in a financial services company preferred
- Minimum BS/BA degree. Advanced degree a plus.
- Demonstrates in depth business/product knowledge and services outsourcing
- Excellent communication skills in English, both oral and written, with the ability to articulate complex and sensitive issues to senior management. Local language requirements as applicable.
- Experience in Supplier Chain Management and interacting with Suppliers' management teams with the ability to exercise sound, timely and independent judgment.
- Strong leadership skills and executive savvy; ability to influence at all levels and influence desired outcomes
- Demonstrates a deep understanding of the changing economics and operational capabilities of suppliers across a broad spectrum of business types
- Exposure to regional / sector risk management teams and an understanding of the sensitivity of the dynamic relationships cross-sectors and regions
- Ability to organize and prioritize multiple deliverables while working independently and effectively in a large, global corporate environment
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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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Most Relevant Skills
Analytical Thinking, Constructive Debate, Controls Design, Escalation Management, Issue Management, Operational Risk, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment.
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Other Relevant Skills
Credible Challenge, Data Analysis, Laws and Regulations, Management Reporting, Referral and Escalation, Risk Remediation.
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