Business Risk Manager-2

Client Organization Third Party Management Centralized Team manages the risks associated with Citi’s use of and reliance upon Third-Party relationships, including outsourced arrangements, across all Client business lines and locations. The organization oversees and execute policies and standards through controls to assess and manage risks related to Citi’s Third-Party relationships and outsourcing arrangements. The goal of Client Organization Third Party Management Centralized Team is to support Client Organization Service recipients and management of Third-Parties capable of providing products and services in a safe and sound manner and at a reasonable cost and to manage the risks associated with Third-Parties.

Client Organization is currently seeking Third-Party Management (TPM) Business Risk Senior partner for Third-Party Management (TPM) roles like Business Activity Owner (BAO) and Third Party Officer (TPO) to support our stakecholder with the TPM Program. The successful candidate will report to the Head of Execution of Monitoring and Testing Lead within Client Organization Management and CAO , and will be responsible for the execution of the TPM Program with business and risk teams accountable for ensuring end-to-end governance of Third-Party risks across these businesses. This includes ensuring Third-Party risk monitoring is comprehensive, aligned with regulatory and enterprise requirements, consistently executed, and evolves as emerging risks are identified. The role will be equally responsible for supporting key enterprise initiatives that drive risk-reduction and operational efficiency across Client organization.

Requires in-depth understanding of how areas collectively integrate within the sub-function as well as coordinate and contribute to the objectives of the entire function. 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. Has responsibility for volume, quality, timeliness and delivery of results of an area. Involved in short-term planning resource planning.

Responsibilities:

• 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, risk for example.
• Serves as a subject matter expert for Issues Management (KPI/KRI/Corrective Action Plans)
• Resolves transactional level escalations coming from the vendor or internal partners
• Analyzes a multitude of scorecards/performance management tools in an attempt to mitigate exposure (risk/financial/regulatory)
• Monitors goals are met through performance, risk and relationship oversight of our extended supply chain
• Collaborates to resolve any issues which fall within the terms of the contract.
• Develops and maintains relationships across the business users and Lines of Defense to better understand and deliver customer requirements by responding to changes in the internal and external business environment
• Has the ability to operate with a limited level of direct supervision.
• Can exercise independence of judgement and autonomy.
• Acts as SME to senior stakeholders and /or other team members.
• 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.
• Representing business leadership to coordinate and facilitate Third Party Risk Management activities
• Evaluating current market conditions and providing insight on trends/issues that may impact the business through the use of external Third Parties.
• Verifying third party’s compliance to required policies and controls
• Partnering with business operations, technology teams and internal functions to conduct on-site visits of third party, as required
• Maintaining and updating 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
• Interacting with third parties on escalations of non-performance and contractual issues to drive resolution when appropriate
• Monitoring third party performance and SLs through Citi Performance Management Assessment (PMA) process
• Verifying Third Party contracts (e.g. Statements of Work) are properly executed and uploaded in Citi’s Contract Management System (eSourcing), working with the Enterprise Supply Chain (ESC) organization if re-negotiations are required
• Reviewing, prioritizing, assessing and acting on results of TPRM assessments/controls with support from various internal functions (e.g., IS, CoB, DPO, Export, Credit Risk, Country Risk, Financial Evaluations), in conjunction with the business and operations teams
• Facilitating remediation of issues or gaps identified as part of ongoing monitoring
• Defining risk mitigation strategies and risk exceptions based on the business’ risk appetite
• Providing thought leadership to drive supplier optimization and efficiencies based on Third Parties risk profiles, performance, and market trends
• Standardizing SLs performance monitoring measures for like services, where possible
• Liaising with the TPM OPS team, as necessary, to review and respond to the results of third party risk management activities conducted centrally by the Utility
• 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.
• Assist with the validation of third party issues and ensure management’s awareness of the risk involved(e.g., Third Party Management Policy, Information Security, Continuity of business)
• Update and maintain third party systems with all relevant documentation
• Responsible to complete requirements for the third party lifecycle for low risk and high risk relationships (planning, due diligence, contract, ongoing monitoring and termination)
• Monitor the Key Indicators for the business, including third party performance.
• Identify any significant changes for the relationships and trigger the update of Risk Assessments
• Develop strong relationships with internal business stakeholders; build a strong understanding of strategic business direction, requirements, processes, and priorities, particularly across assigned suppliers and/or spend categories. 
• Understand and maintain a comprehensive understanding of Citi’s policies and procedures related to supplier selection, contracting and ongoing management, ensuring all requirements are met and documented throughout the end-to-end process.
• Contribute to manage a robust portfolio of initiatives across the end-to-end sourcing and contracting process
• Coordinating the search, interview scheduling and execution, selection, recruitment and on-boarding of external project resources
• Effectively communicating with key stakeholders both internal and external
• Supporting internal queries from project / hiring managers relating to projects / program resourcing
• Serve as point of contact with vendors and hiring managers
• Complete and update procedures and documentation.
• Engage business units and suppliers to drive Citigroup value propositions and build strategic Supplier relationships leveraging Supplier involvement and integrating the supply chain
• Submit, complete and update the Third Party Risk Assessments
• Drives a strong risk and control culture; ensuring timely compliance with attestations, employee entitlement review cycles (EERS), etc.
• Support with the entitlement review processes and execution, systems oversight, documentation management and reporting.

Qualifications:

• 6-10 years of relevant experience in, strategic sourcing/procurement, vendor 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 is a plus
• Demonstrates knowledge of in-scope business and product areas
• Experience with entitlement review processes and execution, systems oversight, documentation management and reporting, ensuring compliance with policies.
• Experience in Third Party Management.
• Working knowledge of eProcurement and TPM tools (e.g. Procure-to-Pay, eAuction, eRFX, Risk Assessment, TPU Tools)
• Excellent communication skills in English, both oral and written, with the ability to articulate complex and sensitive issues to management. Local language requirements as applicable.
• Experience in strategic sourcing/procurement and interacting with suppliers’ management teams with the ability to exercise sound, timely and independent judgment.
• Demonstrates understanding of operational capabilities of suppliers across applicable business types
• Detail oriented professional with an ability to see the forest for the tress (big picture).
• Demonstrate ability to develop and implement global strategies and process improvement initiatives.
• Experience on crafting persuasive communications to Senior Management utilizing Storytelling with Data and Power Point.
• Effective Organizational Influencing skills required.
• Excellent Problem-solving skills.
• Excellent Stakeholder Management skills.

Education:

• Bachelor’s/University degree, Master’s degree preferred

------------------------------------------------------

Job Family Group:

------------------------------------------------------

Job Family:

------------------------------------------------------

Time Type:

------------------------------------------------------

Most Relevant Skills

------------------------------------------------------

Other Relevant Skills

------------------------------------------------------

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.

If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.

View Citi’s EEO Policy Statement and the Know Your Rights poster.