Control Assurance Lead Manager
The Compl Bus Control Sr Manager accomplishes results through the management of professional team(s) and department(s). Integrates subject matter and industry expertise within a defined area. Contributes to standards around which others will operate. 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. Requires basic commercial awareness. 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 end results of an area. May have responsibility for planning, budgeting and policy formulation within area of expertise. Involved in short-term planning resource planning. Full management responsibility of a team, which may include management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary and terminations and may include budget approval.
- Attain Control assurance on Retail Bank investment and insurance sales process and practices to be in compliance with Citigroup policies and local regulations and that sales supervision and monitoring processes are fully effective.
- Review and assess the quality of financial advisory services provided by Relationship Managers and specialists in respect of review results of sampled transactions including responses from client surveys, against the non-sales KPIs, and determine if the representative has committed any infraction in respect of the sampled transactions, in accordance with the processes and methods as set out in the requirements for Balanced Scorecard Framework post transaction documentation review, the sampling methodology and sampled transactions.
- Work with CBORC Retail bank Risk and control process teams to enhance control process to achieve effective control assurance result and audit readiness.
- Conduct surveillance oversight over reviews and sampling of Regional Invictus Surveillance Hub complex reviews with higher error rate to ensure adherence to Service Level Agreement as per Regional Surveillance policy and Regulatory Balanced Scorecards standards requirement.
- Identify improvement area and training gaps and provide guidance to the Hub surveillance analysts team.
- Resolve issues raised by surveillance hub on data source, system enhancements and delays and concerns in completion of the reviews.
- Manage quarterly Retail Banking Mystery shopping exercise, panel review on suitability assessment, post sales client survey and infraction review for categorization. Identify any weakness in sales process and recommendation of suitable products to customer and develop corrective action plans.
- Conduct investigation of incidents of non-compliant to investments and insurance sales processes and work with relevant stakeholders to take appropriate corrective actions including review by the bank’s Balanced Scorecard Panel and Sales Practice Review forum for categorisation of infraction, impact to variable remuneration, regional SPR reporting, further disciplinary action and mis-conduct reporting to the Monetary Authority of Singapore.
- Formulate corrective actions on control gaps to minimize further repeat occurrences.
- Review results of ABS mystery Shopping on bank’s sales staff and identify corrective actions to improve on performance for Citi.
- Supporting internal audit, external audit (KPMG) on surveillance queries and deliverables.
- Prepare all management reporting presentation deck for Investment Supervisory Committee meeting, Business Insurance Forum, Fair Dealing Update meeting, Branch Management Sales Compliance meetings, and quarterly regional reporting on surveillance results and highlight any trends, exceptions, delays or sales practice issues.
- Support CBORC head by providing oversight on quarterly Digital monitoring tool results on RDIP sales surveillance reports; by highlighting areas of concerns, investigating and driving rectification changes, with an end goal of achieving no missing country alerts.
- Administer the quarterly Sales Quality Control and Compliance Retail Bank sales performance measurement program.
- Reporting to the Branch managers on the Sales Quality performance of the sale team and managers.
- Administer MAS Balanced Scorecard grading and percentage of variable income deduction for Retail Bank sales and supervisors and prepare BSC reporting to the regulator quarterly.
- Review for new surveillance requirements when there are new/variation to existing product.
- Monitor Retail Bank sales compliance with the policy and regulation requirements such as 1st 3 observed insurance sales, BSC close monitoring of Grade E representatives, and independent customer contact reviews.
- Develop talent and build competence among control assurance team and ensure adequate back-ups to meet datelines for work deliverables engaging with staff on guidance and career development.
- Promptly escalate issues regarding, but not limited to, people, processes and products and resolve in a timely fashion.
- Own data quality, while adhering to data governance standards and established data domains.
- Manage and drive the incident management process from Start to Finish.
- Produce the weekly Incident Management Report communicated with all senior leaders in supported Lines of Business.
- Facilitates and ensures Issue Management Quality Standards are met for issues documented
- Act as the Single point of Contact for issue metrics.
- Transform raw data into useful metrics and reportable information for senior leadership.
- Develops and produces issue and incident metrics for Senior Leadership on a weekly, monthly and quarterly basis.
- Perform quality assurance over issues being reported on multiple executive level reports to include Monthly Operations Decks and Weekly Control Decks.
- Leverage communication and influencing skills to guide issue and corrective action plan owners and issue managers during times of distress during the issue management process.
- Keeps abreast of the organization’s operational processes and best practices for business strategy.
- Build partnerships with supported Line of Businesses Operations leaders, process owners, client experience leaders, control leaders, and Training, so that efforts are aligned with strategy and department efforts, regular two-way communication exists, downstream impacts are considered and business solutions are optimized.
- 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.
- Ability to manage teams.
- 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, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- Minimum eight years in the Financial Services industry and minimum three years in Control Management-related role
- Strong understanding of Consumer Bank products and processes including Financial Advisory products and MAS Balanced Scorecard Framework.
- Ability to lead and drive controls across the products and functions irrespective of reporting lines
- Ability to manage through influence (e.g. management in the absence of reporting lines or with matrix reporting)
- Up-to-date understanding of key risk and control concepts, tools and trends relating to risk identification, rating and prioritization, mitigation, and reporting.
- Team player who can gather cooperation and buy-ins from key business stakeholders
- Proven people and team management skills
- Risk-based thinking and analytical mindset
- Ability to multi-task and manage concurrent projects and deliverables
- Effective communication skills
- Self-starter who can work independently
- Proficient in the use of basic Microsoft applications (Word, Excel, PowerPoint)
- Bachelor’s/University degree or equivalent experience, potentially Masters degree
Job Family Group:Compliance and Control
Job Family:Business Control
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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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