Senior Compliance Risk Manager – ICRM – Volcker Rule Specialist

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Published
August 5, 2019
Location
Jersey City, NJ
Job Type

Description

  • Primary Location: United States,New Jersey,Jersey City
  • Education: Bachelor's Degree
  • Job Function: Compliance and Control
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: Yes, 10 % of the Time
  • Job ID: 19020946

About Citi

Description

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

Serves as a Senior Compliance Risk Manager for Independent Compliance Risk Management (ICRM)’s Assurance team responsible for assessing compliance risks and controls implemented by the first and second line of defense. Also responsible for performing risk assessments of Citi's compliance risks; performing independent assurance activities (testing and on-going monitoring) to assess the design and effectiveness of key controls designed to address compliance risk; reporting and escalating control issues and any violations of laws or breaches of policy; and validating adequacy of remediation taken to address reported issues.

Key Activities Include

  • Overseeing the development, implementation, and execution of the compliance testing, continuous assurance, and reporting programs for the Volcker Rule accordance with the Compliance Assurance (CA) Plan.
  • Managing the planning, execution, and reporting of compliance assurance reviews and compliance and regulatory issue validation activities related to Volcker in accordance with CA Plan
  • Managing a team or multiple teams of Compliance professionals. Responsible for hiring, compensation, performance appraisals, staff development, training, etc.
  • Developing and executing a robust CA Pan to monitor for compliance with rules, laws, and regulations.
  • Executing interactive programs of support and assurance, in accordance with CA requirements, that provide regulators and stakeholders’ insight into compliance trends, themes, issues, and root causes
  • Support in the preparation of materials to report CA review results, trends, issues and themes to Volcker governance committees.
  • Managing and monitoring budgets for assigned CA projects.
  • Serving as a lead reviewer for complex reviews, analysing report findings, and communicating findings to corresponding control/process owners.
  • Develop CA Risk Assessments and CA Monthly and Quarterly Reporting Summaries.
  • Participating in the development and enhancement of the CA Methodologies and Standards for auditing, testing, monitoring, and reporting.
  • Analysing and providing credible challenges to team’s assessment of the control environment (of relevant assessment units), including Manager’s Control Assessments (MCA), Internal Audit Assessments (and related control metrics such as Issues Being Actioned by Management (IBAM), on-time remediation, Reopens, and MCA effectiveness), Regulatory Issues (and its metrics), Compliance Assurance Results, and Legal Matters.
  • Developing effective relationships within CA function and with other stakeholders including business and technology process owners, and Internal Audit function.
  • Building and managing relationships with senior functional management executives, as well as working closely with the regional Compliance Assurance Heads, regional Heads of Internal Audit, and functional auditors to ensure delivery of a plan of work that provides assurance over the key risks for the Global Corporate Functions.
  • Promoting knowledge sharing and promulgation of best practices across ICRM and the business.
  • Identifying industry best practices and share insight with the CA teams on a regular basis.
  • Informing CA senior management of significant compliance matters that require their attention or action.
  • Additional duties as assigned.

Qualifications

Education level and/or relevant experience(s)

  • Required: Bachelor’s degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; experience in area of focus; previous experience managing a diverse staff
  • Preferred: Advanced degree (e.g. JD, MBA) a plus

Knowledge and Skills

Required

  • Expertise of Compliance laws, rules, regulations, risks and typologies
  • Demonstrate extensive abilities as a team leader, which includes creating a positive environment, monitoring workloads of the team, respecting the work-life quality of team members, providing candid and meaningful feedback in a timely manner, and keeping leadership informed of progress
  • Extensive global compliance and audit related experience, and strong knowledge of business processes and IT technologies utilized in the Financial Services Industry
  • Experience in planning, executing, and reporting on compliance testing reviews and regulatory issue validation activities
  • Knowledge and extensive experience with auditing principles including audit planning, risk assessments, development of risks and controls matrices, processes and controls design assessments, controls operating effectiveness testing, transactional access segregation of duties, transactional testing, surveillance systems, and reporting activities
  • Senior level experience in a related role with experience in business, functional and people management, with proven abilities in taking responsibility for executing concurrently on a portfolio of high quality deliverables to stakeholders according to strict timetables
  • Demonstrated career progression within highly respected diversified institutions with complex and diverse products and customers
  • Understanding of rules, laws, and regulations, and specific regulatory requirements impacting financial services and markets (i.e., trading & sales)
  • Strong interpersonal skills for building strong relationships with stakeholders and engaging teams
  • Effectiveness in working within a large scale and complex matrix organization is essential
  • Excellent oral communication and writing skills in interacting with non-executives and executive management and across a number of business lines and control functions
  • Willingness to travel
  • Must be a self-starter, flexible, innovative and adaptive
  • Highly motivated, strong attention to detail, team oriented, organized
  • Strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging
  • Ability to work collaboratively with regional and global partners in other functional units; ability to navigate a complex organization; to influence and lead people across cultures at a senior level
  • Experience in managing regulatory exams and relationships with examiners, auditors, etc
  • Awareness of regulatory requirements including local and US laws, international and industry standards
  • Advanced knowledge in area of focus

Preferred

  • Prior experience of assurance activities in relation to Volcker Rule requirements and/or Volcker Independent Testing.

 

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