Head of Controls for Cash Services Operations

The head of the Risk & Control for Cash Services Operations is part of the broader Risk & Control function within the COO organization for Operations & Technology. The Risk & Control function is responsible for driving the Risk and Control framework and Governance across the various Operations and Technology business areas.

This R&C position covers Cash Services Operations, which is responsible for critical cash functions including internal Treasury Operations and Payroll Services across 90+ countries globally.

This role will manage a team of control officers and will work in close partnership with other Operations, and Risk Management areas to assess the risk profile of processes and develop a robust risk framework that pro-actively identifies and mitigates emerging risks.  The role is also expected to bring thought leadership to the business and be an integral part of the R&C management team.

The individual must have an in-depth understanding of Operational Risk management and a good understanding of the financial industry. The role requires thorough understanding of the strategic direction of the function, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas.

Excellent communication skills are a must in order to articulate internally issues, action plans, etc., often at a senior level. Some external communication/negotiation may be necessary. The individual will have full management responsibility, including management of people.   

Responsibilities:

• Responsible for leading internal control teams and working with business/functional leaders to ensure compliance with all applicable regulatory & policy requirements.
• Work closely with the business, as well as Operational Risk Management (ORM), Compliance, Internal Audit, Legal, Operations and other cross functional partners to assess and strengthen the control environment.
• Provide leadership in an evolving and increasingly complex regulatory environment.
• Execute governance model and drive cultural change, embedding practices which mitigate risk.
• Establish and oversee 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.
• Independently assess risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
• Facilitate accurate and appropriate reporting of operational risks to senior management and the Board of Directors.
• Identify emerging operational risks in the context of the current economic, regulatory and business environment and assure that measures are being taken to mitigate these risks.
• Analyze operational risk data and indicators to identify areas of excessive risk, escalates situations that pose excessive risk(s), and engages with relevant functions to mitigate those risks.
• Identify root causes of major internal losses and ensures actions are taken to reduce the risk of loss from similar causes.
• Interface with Regulators on Operational Risk matters.
• 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
• Apply sound ethical judgment regarding personal behavior, conduct and business practices.
• Escalate, manage and report control issues with transparency.
• Effectively supervise the activity of the team and creates accountability with those who fail to maintain these standards.
• Maintain and build a team with the skills to carry out the mission of the team. Develop talent based on career goals to ensure succession planning.

Qualifications:

• 15+ years experience in Risk & Controls, preferably in financial services; Experience managing large projects in complex operational environments. Solid team building and Leadership track record.
• Ability to work effectively in a cross-functional organization. Ability to balance strategic priorities with tactical actions. Proven track record and accountability in making quick decision that have an immediate impact on business financials.
• Demonstrated understanding of business procedures, financial services, control and regulatory industry knowledge.
• Excellent communication skills required in order to facilitate reviews with senior stakeholders and control partners.
• Effective organizational influencing skills required.
• Excellent problem-solving skills, ability to see the big pictures with high attention to critical details.
• Demonstrated ability to develop and implement strategy and process improvement initiatives.

Education:

• Bachelor’s/University degree or equivalent experience, Master’s 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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Citi is an equal opportunity and affirmative action employer.

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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