AVP, Third Party Risk Manager - Hybrid

Individuals in Cross Disciplinary Controls are responsible for multiple activities within the Controls capabilities such as assessment & design, MCA, QA, Monitoring & Testing, Issue Management and/or Governance Reporting & Analysis for effective end to end oversight, design, implementation, and execution of controls. Individuals in this role may cover a broad range of in-business/function risk and control responsibilities rather than focusing on one specific role.

The Third Party Officer “TPO” role is 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: 

• Gain thorough knowledge and understanding of Citi Third Party Risk Management requirements

• Represent business leadership in coordinating third party risk requirements

• 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

• 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

• Monitor third party performance and SLA’s; Interact with BAO on escalations of third parties non-performance and contractual issues to drive resolution when appropriate

• Review, assess and act on results of Due Diligence and Ongoing Monitoring 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.

• Support defining risk mitigation strategies and risk exceptions based on the business’ risk appetite

• Support Leadership to drive supplier optimization and efficiencies

• Support initiatives to 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

• Support drafting and presentation of 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

As a successful candidate, you’d ideally have the following skills and exposure:

• Bachelor's/University degree or equivalent experience

• Minimum of 5-8 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.

Working at Citi is far more than just a job. A career with us means joining a family 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.

Take the next step in your career, apply for this role at Citi today

https://jobs.citi.com

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