Central Data Transformation Oversight Head

Operational Risk Management (ORM) is an enterprise level independent risk management function responsible for enterprise-wide oversight and aggregation of operational risk. Its mandate covers all business lines (US Personal Banking, Global Wealth Management, Markets, Services, Banking, Global Functions & EO&T) spanning all geographies.

The ORM function oversees the design and implementation of the non-financial risk management framework. Key objectives of the risk management framework are:

Operating model, staffing and culture: Ensure the operating model across lines of defense is clear and consistent with sufficient resources, expertise, accountability, and stature, and that it is enabled by structured training and awareness program to effectively manage and oversee operational risk.

Operational risk appetite: Clearly articulate risk definitions and appetite and make sure they are aligned against the most critical business outcomes to ensure strategic relevance and application at business, country and entity levels and that Citi operates within its set risk appetite.

Control objectives and standards: Ensure Enterprise Control Standard and controls design requirements are clearly articulated and implemented, and that control objectives and requirements are defined at appropriate risk category and sub-category levels to ensure consistent control design and effectiveness. Operational risk and control assessments and reporting: Oversee that MCA is fit for purpose and is owned with full buy-in from the 1st line, and that it is supplemented by a suite of other fit-for-purpose assessments (e.g., risk category specific assessments, scenario analysis, lessons learned, and targeted deep dives/peer reviews). Ensure assessment results are communicated through clear reporting with thematic and actionable insights.

Strategic decision making: Oversee that Risk Management practices, insights and tools are consistently embedded in day-to-day business processes and strategic decision-making to enable proactive issue identification and comprehensive remediation. 

In addition to overseeing the compliance against ORM frameworks, Data Risk Management has the added complexity of overseeing the effective execution of the Enterprise Data transformation.  This transformation cuts across the enterprise and is multi-disciplinary in nature.  In light of this, a “Hub and Spoke” approach is being adopted as ORM’s oversight operating model. Under this approach, this role will face off with 1LoD enterprise data roles and will work closely with Business/Region/LV Global Op Risk Officers and other relevant independent risk functions in dispensing the appropriate  key second Line of defense (2LOD) risk oversight responsibilities to ensure well- coordinated risk assessments, risk identification, measurement/monitoring and timely remediation of key gaps, including appropriate enterprise-level aggregation aligned with defined target state of Data Transformation.

Separately, this role will also support  Citi’s Chief Risk officer by serving as the day to day point of contact for the Enterprise Data Office’s Risk  Functional Data Officer in delivering Independent Risk Management’s (IRM) data related obligations under the Citi Data Transformation.

Key Responsibilities

ORM Framework Execution Oversight:

• Define the Operational Risk Framework for Risk Category in sync with Global Operational Risk Policy
• Approve Risk Category Appetite and associated metrics, with input from Business/Global Operational Risk Officers
• Manage the adherence to the approved Data Risk Appetite. In case of Risk Appetite potential and/or breaches, ensure risk exposure is well understood and there is a robust Path to Green to avert/remediate breach within an acceptable time frame.
• Approve new products/services and major initiatives as required by policy
• Conduct independent second line risk assessments and in coordination with other ORM teams where needed  (e.g., reviewing control design and effectives of key processes, end to end review of significant control breaks that impact multiple risk categories, lessons learned and near misses) and root cause assessments (e.g., reviewing themes of issues across multiple businesses/ regions)
• Create aggregated risk profile picture for the risk category at the enterprise, business/function levels and LV  levels using a combination of first line and independent second line assessments
• In partnership with Business/ Region/ LV risk officers, approve significant exceptions to the Global Operational Risk Policy for the risk category and conduct periodic review of exceptions/ waivers
• Serve as the primary coverage lead for the 1LOD Enterprise Data office and 1LOD Risk category owner in terms of compliance to the ORM frameworks and standards; provide operational risk guidance and advice through proactive engagement in strategic business initiatives / transactions and large remediation efforts.
• Escalate significant or unaddressed risk issues and control environment concerns to appropriate governance forums as well as to Risk leadership.
• As needed, serve as primary interface to key stakeholders such as regulators, senior management, and the Board as it relates to 2LOD assessment/point of view for the Risk Category
• Independent Risk Management Owned-Transformation Obligations:
• Support Citi’s Chief Risk officer (CRO) by serving  as single point of contact for the Enterprise Data Office’s Risk Functional Data Officer relative to the execution of IRM owned obligations under the Citi Data Transformation.

Management and Leadership Characteristics:

• Broad experience in risk management including a successful track record of managing large complex enterprise-wide risk management programs at a large financial services organization
• Deep subject matter expertise in Risk Management
• Business understanding of the products and services Citi offers and how risk management practices contribute to other work across Citi / understand downstream impacts of decisions made
• Track record of managing internal relationships and partnering with a range of stakeholders (e.g., business, functions) in leading sustained change and change management efforts
• Ability to create and articulate sense of purpose and common vision for Risk Management
• Strong tech technical problem-solving skills and an ability to identify conflicts, discrepancies and other issues and bring together the right team to solution them.
• Extensive leadership experience demonstrated through empowerment, situational awareness, increasing transparency and conflict resolution on large-scale programs and transformation.
• Well-developed listening skills and a strong ability to communicate and engage at the senior management level, both orally and in writing
• Strong leadership skills with a proven track record of working with a diverse range of skill sets and perspectives, recognizing that the power of Citi is the sum of its parts
• Ability to constructively challenge others at all levels and across boundaries to deliver better results
• Continuous improvement mind-set to solve for root causes, assess impact of actions and adjust as needed; simplify and standardize at every opportunity
• Strong regulatory engagement experience
• Excellent communication skills specially to senior audiences such as Board of directors and Regulators

Education, Knowledge and Experience Qualifications:

• 15+ years direct experience as a senior Data Risk professional in a large financial services organization.
• Extensive experience in overseeing highly visible, complex initiatives related to global data programs in a large scale, distributed organization. 
• Demonstrated ability in overseeing the development of data program related analytics, models, dashboards, to make data-driven decisions on digital program investments.
• Direct experience in developing and executing comprehensive data strategy and robust data governance frameworks to ensure data integrity, quality, and compliance.
• Demonstrable understanding of Data fundamentals including Data architecture, Data principles, deep appreciation of intersectionality and interdependency with enterprise Technology and systems architecture
• Strong working knowledge of scalable data platforms and cloud capabilities that are secure, resilient, and compliant with relevant regulations.
• Strong data governance and/or technological knowledge on data models
• Deep knowledge of financial and risk data, along with an understanding of regulatory, compliance, risk management and financial management concerns
• Proven subject matter expertise in operational risk management as applied to Data risk
• Strong working knowledge of operational risk management frameworks in a global organization
• Experienced in crisis management and turnaround situations
• Demonstrated success in managing risk policy/strategy
• Bachelor’s degree in Computer Science, Data Science, Information Technology, Business, or a related field. Advanced degree preferred

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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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