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The Central Control Capabilities function is responsible for driving Monitoring & Testing (M&T) of key controls across the enterprise.
The Control Assessment and Central Testing functions partner with the Control Owners and the In-business Control Teams to conduct all the M&T activities for the key controls in scope of the CTU - this includes the control design assessment (CDA), the development of tools for operational effectiveness monitoring (OEM) and operational effectiveness testing (OET), the assessment of the design of the OEM & OET tools (MDA & TDA), the execution to the OEM & OET activities, and the disposition of the exceptions identified through the M&T activities.
The Central Testing function is primarily based out of Citi Service Centers in India. It is structured along three verticals: (1) M&T Execution, (2) M&T Automation, and (3) Strategy & Governance. The identified candidate for this role will be part of the M&T Execution, Control & Monitoring Design Assessment team.
Responsibilities:
- The primary function of this position is the timely execution of the Managers Control Assessment (MCA) program
- Have a good understanding of the Risk & control framework and the underlying fundamentals of Risk Management
- Supervise & manage teams involved in the end-to-end monitoring of the controls as defined in Risk Management policy
- Maintain oversight and monitoring of the operational risk management system and the quality of the generated data
- Lead / participate in strategic initiatives viz. control performance enhancement, etc.
- Participate in leadership meetings to analyze documentation and processes to ensure risks and control points are properly addressed
- Involve in Control & Monitoring Design Assessment (CMDA) meetings and provide expertise/ guidance in drafting the procedures. Consistently challenge the existing procedures to check relevance to evolving risks/ change in process
- Pro-actively identify any monitoring breaks and suggest enhancements
- Support with the timeliness, accuracy and completeness of the MCA through controls prior to the execution of a process (QC)
- Apply knowledge of the business, products or services to identify and implement control points and processes throughout the business
- Serve as partner to the onshore team & controls group and involve in Risk redesign or any other reengineering initiative
- Conduct training and regular refresher sessions on the Risk management framework to upskill the colleagues in the team. Ensure 100% delivery is achieved as per the agreed SLA
- Manage a strong stakeholder connection through regular touchpoint meetings
Team Management Responsibilities
- Handle a team and ensure appropriate coaching & support is provided
- Foster an environment of learning and development
- Drive strong emphasis on adherence to Citi culture, leading by example
- Ensure a robust performance management system is followed
Qualification
- 15+ years of relevant experience in Operational Risk/ Enterprise Risk Management/ Business Risk Management including team management
- Strong knowledge of regulatory requirements related to Operational Risk/ Internal controls
- Demonstrated understanding of operational risk and gap identification
- Experience in at least one line of business or function in financial services (e.g. Personal Banking, Wealth Management, Markets, Services, Finance, Technology) with related in-depth product knowledge
- Excellent verbal and written communication skills
- Customer focused with excellent Interpersonal skills and ability to work well in a team environment collaborating across diverse groups
- Ability to work under pressure and manage deadlines or unexpected changes in expectations or requirements
- Self-motivated and detail oriented
- Exhibit problem-solving and decision-making skills
Education:
- Bachelor’s/University degree
Individuals in Quality Assurance, Monitoring & Testing are responsible for the assessment of outcomes from activities and processes against conformance with applicable requirements to strengthen risk management quality such as quality testing performed for business function quality control and transformation lead quality control post completion of an activity/process. This includes the development and execution of Monitoring and Testing for controls, such as control design assessment, design of operational effectiveness for monitoring & testing tools, monitoring/testing design assessment, and execution of monitoring/testing tools to assess the effectiveness of key controls designed to address defined risks.
Responsibilities:
- Support for the assessment of activities and processes as per required Policies, Standards and Procedures to strengthen risk management quality
- Conduct routine testing of internal activities and processes to ensure adherence to established quality standards and identify areas of risk or non-compliance
- Help review stakeholder/client feedback and respond to any quality assurance complaints or issues in a timely and efficient manner
- Support quality testing performed for business function quality control and transformation lead quality control post completion of an activity/process
- Help develop and execute Monitoring and Testing for controls, including control design assessment and design of operational effectiveness for monitoring & testing tools, monitoring/testing design assessment, and execution of monitoring/testing tool • Support reporting on quality control outcomes and control effectiveness to top management and relevant stakeholders
- Stay up-to-date with the latest quality assurance testing tools and strategies
- Have a good understanding of the Citi Risk & control framework and the underlying fundamentals on Risk
- Management
- Help teams involved in the end-to-end monitoring of the controls as defined in Risk Management policy
- Participate in the review and challenge process, on the effective design and management of controls to mitigate risks as required by the Control Standards, including implementation and operation, conducting the control monitoring, handling deficiencies, and escalating issues for resolution.
- Support to ensure that risk and control responsibilities and accountabilities are embedded within Central Testing Utility
- Involve in Control & Monitoring Design Assessment (CMDA) meetings and provide help in drafting the procedures.
- Identify any monitoring breaks and suggest enhancements
- 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 teams and create accountability with those who fail to maintain these standards
Qualifications:
- Minimum of 6-10 years of experience in operational risk management, compliance, audit, or other control-related functions in the financial services industry.
- Ability to identify, measure, and manage key risks and controls.
- Strong knowledge in the development and execution for controls.
- Proven experience in control related functions in the financial industry.
- Proven experience in implementing sustainable solutions and improving processes.
- Understanding of compliance laws, rules, regulations, and best practices.
- Understanding of Citi’s Policies, Standards, and Procedures.
- Strong analytical skills to evaluate complex risk and control activities and processes.
- Strong verbal and written communication skills, with a demonstrated ability to engage at the senior management level.
- Strong problem-solving and decision-making skills
- Ability to manage multiple tasks and priorities.
- Proficiency in Microsoft Office suite, particularly Excel, PowerPoint, and Word.
Education:
Bachelor's/University degree, Master's degree preferred
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Controls Governance & Oversight
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Quality Assurance, Monitoring & Testing
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Full time
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Analytical Thinking, Assurance Strategy, Constructive Debate, Controls Assessment, Controls Lifecycle, Digital Skills (Including AI), Policy, Procedure, and Regulation, Risk Remediation, Stakeholder Management.
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For complementary skills, please see above and/or contact the recruiter.
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Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.
