Audit Director - Enterprise Risk Management

The Audit Director for Enterprise Risk Management (ERM) is a senior level management position responsible for contributing to the strategic direction of Citi’s Internal Audit (IA) function, in coordination with the wider Internal Audit teams.

The Internal Audit mission is to provide independent, objective, reliable, valued and timely assurance to the Board, senior management and regulators of Citigroup and Citibank (and its subsidiaries), over the effectiveness of culture, ethical conduct, governance, risk management, and controls that mitigate current and evolving risks and to enhance the control environment.

The individual will be responsible for managing a team of audit professionals across Enterprise Risk. Enterprise Risk Management at Citi is underpinned by principles used to support appropriate, effective and consistent risk management across Citi and at an aggregate enterprise-level, throughout the end-to-end risk management lifecycle at the global, cluster and legal entities levels, in accordance with IA standards, Citi policies, and local regulations. Citi’s risk management approach is based on the end-to-end risk management lifecycle, which is comprised of processes that are used to identify, measure, monitor, control and report risks.

The individual will be responsible for building and managing relationships with senior Independent Risk Management leadership across Enterprise Risk. In addition, you will work closely with product and functional Internal Audit (IA) management to ensure the creation and delivery of an integrated end-to-end audit plan that provides high quality assurance over Enterprise Risk Management programs such as Stress Testing, Risk Identification, Risk Appetite Limits & Metrics and New Activities. Coverage areas also include committee structure and reporting arrangements that support the appropriate oversight of risk management activities and Citi’s Lines of Defense model.

The individual will also engage actively with the Regulatory Issue Validation audit team to support and subject matter expertise in the validation of regulatory issues, ensuring timelines are met and regulatory intents are addressed.

As part of the wider IA Legal, Compliance and Risk team, they will contribute to managing IA’s regulatory relationships resulting in constructive two-way dialogue, trust in the IA function and general reliance being placed on IA’s work related to Enterprise Risk Management programs.

Responsibilities:

• Deliver multiple audits to specification, and ensure the delivery of audit reports are complete, insightful, timely, error free and concise; Contribute to the delivery of audit reports outlining IA’s contributions, and oversee audit’s coverage and reporting on common high-risk areas, especially in Enterprise Risk.
• Audit coverage of Enterprise Risk Management programs such as Stress Testing, Risk Identification, Risk Appetite, Concentration Risk Management, Climate Risk, New Activities, Risk Governance Framework, and Citi’s Lines of Defense model
• Assessing the firm’s adherence to OCC Heightened Standards
• Provide independent assurance on the design and operating effectiveness of an area, at a global, cluster or legal entity level
• Proactively manages IA’s relationship with multiple internal and external stakeholders, including senior risk and business executives, and core-college regulators.
• Uses communication and leadership skills to influence a wide range of senior internal and external audiences; provides impactful, valuable and ongoing IA input through active interactions with stakeholders and formal participation at key committees and management initiatives
• Possesses, through direct hands-on experience, a strong understanding of Audit and Risk; maintains an understanding of key relevant regulations, current business practices and industry trends.
• Provides independent assurance on the design and operating effectiveness of controls supporting enterprise-wide risk management activities across the first and the second lines of defense.
• Ensure timely delivery of comprehensive regulatory and internal audit issue validation, including issues arising from other external parties; Ensure IA meets/exceeds expectations, and support and drive the IA Transformation Program and IA’s and management’s efforts
• Improve the identification, measurement, management, reporting and controls in governance, risk and control environments
• Supports and endorses the Quality Assurance (QA) function of IA, and resolve issues found by QA, improving audit processes and coverage
• Ensures the adoption of Citigroup and Citibank Audit Committee Charters and the IA Charter, and engages in internal/external negotiations
• Oversees various tasks to build the audit team, including recruiting staff, developing and training the team, and managing the budget
• Appropriately assesses 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

Qualifications:

• Deep understanding of Enterprise Risk Management practices and OCC Heightened Standards, particularly the expectations for a large or complex institution.
• 15+ years' experience in a related role within an internal Audit function, with exposure to Enterprise Risk Management programs such as Stress Testing, Risk Identification, Risk Appetite Limits and Metrics, Concentration Risk Management, Climate Risk, New Activities, Risk Governance Frameworks, among other focus areas.
• Demonstrated ability to assess risk culture, governance structures, and the effectiveness of second line functions.
• Related certifications (CPA, ACA, CFA, CIA, CISA or similar) preferred
• Demonstrated success in business, functional and people management
• Consistently demonstrates clear and concise written and verbal communication
• Demonstrated ability to remain unbiased in a diverse working environment
• Effective leadership and negotiation skills

Education:

• Bachelor’s degree/University degree or equivalent experience
• Advanced degree strongly preferred

#NAMInternalAudit

Internal Audit is a global organization of over 2000 professionals covering Citi's global businesses and service to clients and customers in over 180 countries. Citi's Internal Audit division provides independent assessments of the company's governance, risk management and internal control environment for key stakeholders including the Board of Directors, senior management and Citi’s numerous regulators globally. Internal Audit is a change agent within Citi aimed to enhance the control culture of Citigroup worldwide and thereby support senior management decision making around the globe.

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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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