5 days old

New Activity Risk Management Assistant Lead, VP

Citigroup
New York, NY 10176
**Background:**


The New Activities / Product Governance team is functioning within Enterprise Risk Management of Independent Risk Management and is responsible for the governance of Enterprise-wide New Activities Approval (including New Product Approval), Product Inventory, Permitted Products Management, Product Risk Monitoring and Product Taxonomy Frameworks and enabling supporting technology infrastructure for due diligence, review, approval, risk rating and ongoing monitoring.


The New Activities Governance team has created plans to address the identified deficiencies in the end-to-end product lifecycle governance process. The target state of our New Activities Governance Framework meets the risk and control standard and serves the commercial needs for Citis business lines into the future. The **target state** design is centered on the following four key strategic **outcomes** :


+ **Enhanced governance** of New Activities Governance , which entails a unified governance for material changes to products and services that impact Citis external stakeholders, operated by designated professional personnel within guidelines for service levels

+ **Enhanced Process and Technology** which entails a standardized approval process that is risk-differentiated, transparent, capable of business prioritization, and supported by advanced workflow technology

+ **Enhanced Risk Management and Control** which entails active management of product risk based on a comprehensive, risk-rated product inventory that is subject to periodic monitoring, with the frequency depending on the aggregate risk rating (more frequent monitoring for higher risk ratings)

+ **Enhanced Commercial Outcomes** which are driven by a performance-focused process that balances risk, control and client considerations and enables us to serve our clients in a timely and innovative way given the rapidly evolving consumer preferences and deliver decisions inside the decision cycle time of our non-traditional competitors keeping pace with market developments.


**Objective and Job Description:**


This position is part of New Activity Risk Management supporting Institutional New Activity Review process. The New Activity process oversees the end-to-end process for approval and implementation of all New Activity originated by the ICG Businesses. The objectives of New Activity process is to ensure that significant risks in New Activity are identified and evaluated from every relevant perspective, are determined to be appropriate for ICG, Citi. and its clients, are properly recorded for risk aggregation purposes, and are effectively controlled and have all accountabilities in place. New Activity process offers an efficient forum for risks and issues to be evaluated in the presence of the business and other control functions. New Activity review involves senior representatives from each Risk Management stripe, Legal, Compliance, Finance, Operations, Technology and Legal Entity Management. Beyond approval of initiatives, New Activity process also covers requirements for on-going controls and management over the life of the product or service.


The position is a critical function working with senior members of the team to facilitate and support the risk assessment and approval process through new activity end-to-end lifecycle. The role will include active engagement in various Americas related and Global projects for on-going NAC process enhancements. Central to this role will be the ability to collaborate and work across various business and control function stakeholders.


**Responsibilities:**


+ The New Activities Risk Management Assistant Lead supports the review and approval of New Activities from ICG.

+ Act as New Activities Point of Contact for Business: support Business Ideation process (e.g. attends Business Governance Forums), based on business unit Ideation model; advise business on in-scope proposal that meets the definition for new activity category; answer proposal submission questions.

+ Review Proposals submitted to Risk Triage: review Initial Proposal Evaluation (IPE) submitted in the system to ensure completeness and well formed; confirm Evaluation Criteria and default approval pathway is appropriate; apply Sensitivity Overlays to adjust approval pathway, as appropriate.

+ Review IPE gating questions to confirm appropriate Accountable Functional Reviewers for cross-functional Technical Due Diligence Panel; review Technical Due Diligence Report outcomes and approve or challenge proposal; escalate proposals to New Activity Committee (NAC) approval, as appropriate.

+ Validate Proper Approvals and Conditions are met for Launch: review business confirmation of post-launch condition completion and escalate to NAC, as needed.

+ Complete Post-Implementation Review (PIR) within 12 months to confirm New Activity is operating as intended and within approved risk boundaries: grant approval windows where appropriate.

+ Facilitate Risk Rating process within Technical Due Diligence.


**Knowledge / Experience:**


+ Experience in the Financial Services industry.

+ Product knowledge over a broad set of asset classes and transactions (e.g. Equities, Commodities, FX, Rates, Structured Products, Private Equity, eCommerce, Cash Management, Trade Finance, and Custodial Services) is a plus but not necessary.

+ A basic understanding of different risk types, e.g. market risk, credit risk, operational risk, liquidity risk, franchise risk, legal risks, and / or reputational and regulatory risks.

+ Understanding of Citis businesses and products and their risk profiles across multiple geographies.


**Skills**


+ Excellent organizational skills, ability to multi-task and identify key issues. Able to manage multiple proposals concurrently that are often different in subject and urgency

+ Excellent communication skills and strong interpersonal skills while working across multiple geographies, businesses and functions.

+ Ability to build strong internal and external networks


**Competencies**


+ Self-starter, ability to assimilate and analyze large amounts of information.

+ Strong tenacity, resilient under pressure and self-motivated in a fast paced and demanding environment.

+ Highly engaged, strong attention to detail and outcome oriented.


+ This role demands a strong work ethic and a willingness to "roll up sleeves".

+ Strong analytical problem solving abilities and a high level of integrity to deal with highly confidential data.


**Education**


+ Undergraduate / Masters degree(s) in business, finance, law or economics a plus


**Primary Location**


+ New York or Tampa, Florida


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**Job Family Group:**


Risk Management

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**Job Family:**


Risk Policy

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**Time Type:**


Full time

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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.


Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review **Accessibility at Citi (https://www.citigroup.com/citi/accessibility/application-accessibility.htm)** .


View the "EEO is the Law (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) " poster. View the EEO is the Law Supplement (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .


View the EEO Policy Statement (http://citi.com/citi/diversity/assets/pdf/eeo\_aa\_policy.pdf) .


View the Pay Transparency Posting (https://www.dol.gov/sites/dolgov/files/ofccp/pdf/pay-transp\_%20English\_formattedESQA508c.pdf)


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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.
Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.

Categories

Posted: 2022-05-13 Expires: 2022-06-12

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New Activity Risk Management Assistant Lead, VP

Citigroup
New York, NY 10176

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