Head of U.S. Personal Banking and Wealth Management KYC & Screening Operations, Financial Crimes Managing Director

Citi’s U.S. Personal Banking and Wealth Management (USPBWM) businesses are global leaders in credit cards, consumer banking, and wealth management, serving as a trusted partner to more than 110 million customers and providing financial services that enable growth and economic progress.

UUSPBWM have a unique opportunity to leverage consumer relationships and footprint, retail partnerships, state of the art technology and leading consumer banking position to deliver customer value in a targeted and impactful way. Citi is optimizing its relationship structure to realize a fully integrated delivery model and partnerships on the cross-platform goals of the company to deliver a remarkable customer experience, all while effectively managing risk and minimizing risk to our clients and our franchise. With the changing global environment, Citi’s focus on financial crimes has become even more important and, as such, USPBWM created a Global Financial Crimes (GFC) utility. This Financial Crimes utility streamlines accountability and responsibility for Risk & Control activities across USPBWM and delivers process consistency to protect the firm against emerging financial crime risks. Financial crime threatens the safety and soundness of financial systems world-wide, in some cases, these crimes threaten the security and safety of the nation. These crimes range from fairly simple operations carried out by individuals or small groups to highly sophisticated rings seeking funding for criminal enterprises or terrorism. Although financial criminals are often well-organized and persistent, bankers and citizens can take proactive steps to thwart their attempts.

Position Description:

The Head of USPBWM KYC & Screening Operations for Financial Crimes is responsible for the delivery and ongoing direction of a comprehensive Financial Crimes Program in partnership with multiple functions such as Compliance, Operations, Technology, Risk, Audit, and multiple stakeholders at all levels of management. This individual will be accountable for fostering a culture of control, customer centricity and accountability by leading efforts to identify, anticipate and mitigate regulatory, reputational, and operational risks.

The Head of USPBWM KYC & Screening Operations will manage multiple teams including management of people, budget, and planning. This role requires knowledge of relevant AML/BSA laws and regulations, including related compliance requirements combined with a solid conceptual/practical grounding in firm’s KYC Program. Excellent communication skills are required to influence a wide range of audiences. This position will require interaction with both internal and external stakeholders, including regulators which could have a major impact on the area managed, and possibly on other related areas and organization.  Position requires ability to balance short-term requirements with long-term vision, and the fortitude to know when one needs to act versus plan.

This position will report to the Head of Global Financial Crimes.

The successful candidate will be able to execute against these core responsibilities:

• On behalf of the USPBWM businesses, execute on all Financial Crimes related Programs, including, KYC, CTR, Screening, Customer Remediation, Quality Control, Ops Training & Procedures, Customer Remediation, Account Blocks & Closures, CX KYC/AML Customer Escalations including CX & Operational Forums, Capacity Management & Scorecards (Ops Reporting).
• Ensuring operational performance and effective controls in compliance with Anti-Money Laundering/Know Your Customer (AML/KYC) regulatory requirements and related Citi policies.
• Identifying and executing opportunities to improve effectiveness, control oversight, efficiencies and client experience in a step-function, transformative way.
• Levers may include lean/process reengineering, automation, data and trigger analysis and tools to support operational performance.
• Ensure strong engagement and buy-in on the transformation strategy and throughout its execution across all levels of the KYC operations team and across close in-business partners and stakeholder groups. 
• Partner closely with executives across AML Compliance, Product (including Line of Business P&L owners), Operational Risk and Technology to drive this transformation.
• Effective navigation across these highly matrixed groups, as well as superb judgement to ensure execution feasibility of regulatory interpretations will be core to the leader’s success.
• Ensure effective operational performance that satisfies regulatory commitments and requirements, while also ensuring best possible client experience within regulatory and Citi standards.
• Ensure successful and timely closure of any control, compliance and regulatory issues (e.g., MRAs), driving these with high urgency and strong accountability. Strengthen overall control effectiveness, focusing on prevention and automation.
• Manage team of over 2000 FTEs located in multiple servicing locations across the US and in Costa Rica, plus partner-managed offshore teams in the Philippines and India.
• 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.
• Identifies risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
• Facilitates accurate and appropriate reporting of operational risks to senior management 
• Ensures there is a strong and effective escalation culture 
• Takes action as required to implement corrective action plans, ensuring consistency in reporting and data integrity.
• Ensure transparent and thorough reporting to identify, mitigate, monitor, and measure risk in all categories.
• Collaborate across regions, businesses, and functions to improve the identification, quantification, measurement, management, reporting and controls in governance, risk management and internal control environments.
• Leverage available tools and processes to support process owners in the design and development of effective controls and monitoring methods, with a focus on automation and efficiency
• Ensuring that Citi’s USPBWM businesses are complying with applicable laws, rules, and regulations, and have appropriate policies, procedures and controls relating to such requirements.
• Driving all processes to be efficient, cost effective, streamlined and value add in managing AML Risk related to terrorist financing, use of Citi products to launder illicit funds, human trafficking, etc.
• Developing senior management relationships with key stakeholders and informing senior management of significant regulatory matters that require their attention or action.
• Proactively anticipating and helping the senior management plan for changes in the compliance and regulatory environment and providing support to senior management on policy interpretation and possible exposures and business impact.
• Focusing on continuous control improvements across all areas of the Financial Crimes Program to ensure the continued improvement of the control framework.
• Provide strategic direction to both the function and the organization in terms of managing compliance risk
• Recruiting, developing, and retaining a highly effective diverse team
• Ensure execution of Corrective Action Plans (CAPs) to address Issues - Establish and sustain strong project management disciplines and routines with clear accountability for all deliverables required to complete requisite corrective actions through to issue remediation and closure. Provide updates, as needed, to management on issue remediation status including progress against milestones, risk identified, and any other potential impacts
• Design, implement, execute, and coordinate change management process, and framework for product change, execution, and post-implementation monitoring. Facilitate formal communication process with stakeholders to ensure timely escalation where required

The key characteristics of the ideal candidate for the position are:

• Constructively challenge others at all levels and across boundaries to deliver better results; invite challenge and continuously challenging the status quo
• Conducts rigorous analysis and can synthesize complex and multiple source data into fact based and nuanced solutions
• Highly collaborative with a leading ability to build credible and trusting relationships across key stakeholders across multiple levels of the organization
• Process re-engineering and improvement mind-set with ability to identify and solve for root cause rather than symptoms; address problem solving and opportunities in a holistic way/break down organization silos
• Influential and high track record of followership with demonstrated experience gaining consensus and alignment in a highly matrixed environment
• Ability to set priorities in a fast paced, highly matrix, dynamic environment
• Self-motivated, highly adaptive and able to executive at pace and lead in periods of high stress
• High ethical standards and mature risk tolerance who structures deals balancing risk and reward
• Excellent oral and written communication skills with the ability to confidently present to senior leaders
• Ability to manage and prioritize multiple projects simultaneously and under strict guidelines
• An ability to clearly articulate a business unit’s function, priorities, controls, and the impact issues have on business
• Strategic mindset with a track record of execution

Qualifications

• Bachelor’s degree, Master’s degree preferred
• 15+ years’ experience in Retail Banking and/or Wealth Management business lines with specific focus on Financial Crimes and prior operational experience in AML/KYC or related domain is a key plus. Clear evidence of quick learning agility with need to accelerate learning curve across highly differentiated product lines (deposits and credit cards).   
• Track record of managing internal relationships and demonstrated experience in leading sustained change and change management efforts
• Partner across the business in a way that demonstrates collective obligation on managing risk through appropriate controls
• Strong understanding of relevant business processes and data segments
• 15+ years of people and organization management
• Exceptional relationships and knowledge of the regulatory framework and entities effecting both regulatory and operational risk standards and activities
• Project Management experience a plus
• Strong PC skills including Word, Excel, Power Point, Microsoft Project   

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In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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