Compliance Product Director - Global Consumer Banking
Serves as a senior Global Consumer Banking (GCB) compliance risk manager for Independent Compliance Risk Management (ICRM) in Singapore responsible for establishing internal strategies, policies, procedures, processes, and programs to prevent violations of law, rule, or regulation and design and delivery of a risk management framework that maintains risk levels within the firm's risk appetite and protects the franchise. In addition, engages with the ICRM product and function coverage teams, in order to partner to develop and apply CRM program solutions that meet the GCB product and customer needs in a manner consistent with the Citi program framework.
Key Activities include:
- Providing compliance coverage to an assigned GCB business. Provides compliance guidance on GCB business rules and regulations relating to operational issues, transactional approvals and the application of internal compliance policies for day-to-day activities:-
- Review and approve new/significant change of product programs, incentive plans, marketing programs, important communications, forms, contracts, outgoing official letters and related communication wordings.
- Provide consultation and guidance to the business, operation units and GCB ICRM team making recommendations on compliance related matters.
- Develop, implement and conduct compliance training to new comers and business stakeholders.
- Develop and implement legal entity policies and procedures as required by local regulations that are consistent with ICRM standards.
- Develop appropriate legal entity training as required by local regulations that are consistent with ICRM standards.
- Conduct risk assessments and oversee regulatory changes for the legal entity as required by local regulations consistent with ICRM standards.
- Perform business monitoring including customer complaints, surveillance, third party management for responsible business units to identify potential issue(s), emerging risk(s), and timely escalation.
- Represent ICRM on Legal Entity Approval / Governance committees as required.
- Update Monthly dashboard and governance decks, e.g. CCC, BRCC, Audit Committee, Risk Committee and Board of Directors meeting for GCB products.
- Managing a team of multiple teams of Compliance professionals. Developing, attracting, and retaining talent; recommending staffing levels required to carry out the unit’s role and responsibilities effectively while establishing and adhering to talent management processes and compensation and performance management programs. Mentoring and developing junior staff.
- Directing the design, development, delivery and maintenance of best-in-class Compliance, programs, policies and practices for ICRM. Translates ICRM strategy and goals across Citi’s clients, products and geographies; provides direction and guidance on the programs:-
- Execution of Compliance Program: Partner with CBM and business seniors to implement Compliance Programs, e.g. Conduct Program, RCM, RCP programs and strengthen ethic culture in GCB Singapore. Develop and implement a documented, globally consistent compliance risk management program for the legal entity as required by local regulations that is consistent with ICRM standards.
- Staying abreast of relevant changes to rules/regulations and other industry news including regulatory findings.
- Providing oversight and guidance over the assessment of complex issues, structures potential solutions and drives effective resolution with other stakeholders. Provides advice to the GCB business on an ongoing basis on new initiatives, new products, acquisitions, and client-related matters with respect to applicability of policies, resolution of potential red flags or other client/transaction-related compliance escalations.
- Escalation: Timely escalate GCB compliance related matters to ICRM GCB Regional Head, CCCO, CBM, GCB Seniors, regional seniors; routine update monthly dashboard and governance decks, e.g. CCC, BRCC, Audit Committee, Risk Committee and Board of Directors meeting for GCB products.
- Representing Citi on critical regulatory matters as required. Serves as liaison with regulatory examiners, Internal Audit, and external auditors on critical Compliance issues and oversees the implementation of related remediation. Collaborating with other internal areas including: Legal, Business Management, Operations, Technology, Finance, other Control Functions, and In-Business Risk to address compliance issues which may impact the assigned GCB business.
- Regulatory Interaction: Acts as regulatory contact window for GCB compliance related matters including regulatory inquiry, new ideas, significant incident reporting, regulatory examination coordination, etc. Understand regulatory trends by monitoring regulatory changes, enforcement, exams and guidance to help the legal entity avoid potential issues and concerns
- Supporting the GCB business in performing timely compliance reviews of new transactions and/or products.
- Managing ICRM initiatives as required, such as the implementation of new Compliance systems, controls, and related project management work efforts.
- Assisting in the development and administration of Compliance training for the assigned GCB business.
- Overseeing the monitoring and identification of regulatory developments, including enforcement actions, and new laws, regulations, rules, and interpretations or guidance relating to the GCB business supported:-
- Attend CBM management meeting, Business Insurance Committee, Sales Surveillance review meeting, product approvals, customer complaint discussion meeting, and business Annual Risk Assessment facilitation sessions etc, to timely catch up business status and communicate compliance related matters and provide credible challenge to the first-line businesses in their assessment and management of compliance risk. Review monitoring and testing reports to identify themes, trends and potential issues and problems for the legal entity.
- Analyzing and scoping the impact including applicability of new and complex regulatory developments across the assigned GCB business, including cross-border impact.
- Assisting in the establishment of ICRM policies, procedures and controls to comply with these new or changed laws and regulations.
- Participating in industry groups and trade association working groups or other forums.
- Additional duties as assigned.
- Highly motivated, strong attention to detail, team oriented, organized
- Excellent written, verbal and analytical skills
- Strong communication and interpersonal skills; strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging
- Ability to interact and communicate effectively with senior leaders
- Significant knowledge and expertise of Compliance laws, rules, regulations, risks and appropriate controls
- Experience in the design and implementation of Compliance programs
- Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
- Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse Business/Function
- Experience with and previous exposure to internal or external control functions and regulators
- Ability to challenge Business/Function management and escalate issues when appropriate
- Strong track record of effectively assessing and managing competing priorities
- Comfortable navigating complex, highly-matrixed organizations
- Comfortable acting as an agent for positive change with agility and flexibility
- Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management skills are essential
- Subject matter expertise in area of focus
Job Family Group:Compliance and Control
Job Family:Product Compliance Risk Management
Time Type:Full time
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