Strategic Operational Risk Leader Head of Governance CitiMortgage

Company Name:
Reference Code:
O'fallon, MO, USA
Education Level:
Bachelor's Degree
Brief Description of the Organization
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Additional information may be found at or .
Strategic leader in first line of defense operational risk management to CitiMortgage, enhancing senior management's ability to dimension, anticipate and manage operational risks effectively;
Designs, implements and sustains the Operational Risk Framework throughout CitiMortgage, ensuring alignment with the enterprise-wide ORM strategy for the management of operational risk (ORM), including articulation of the operational risk profile and risk appetite for CitiMortgage;
Leads the Operational Risk governance committees from the business level (chaired by the CEO) to the Board level;
Ensure the effective implementation and execution of Operational Risk programs in CitiMortgage including event data collection, key risk indicators, scenario analysis, and risk control identification and assessment;
Proactively identifies, measures, and analyzes operational risks in CitiMortgage, providing mitigation strategies where appropriate;
Oversees the adequacy and strength of the control environment throughout CitiMortgage and recommends management action to ensure the operational risk profile supports the achievement of business objectives;
Provide leadership on operational risk reviews and feedback on the operational risk impact of major change initiatives, process improvements and transformational projects;
Align operational risk activities with other assessment activities to ensure CitiMortgage business units receive a fully coordinated assessment of operational risks.
Drives the effort to ensure the CitiMortgage Operational Risk Program is in full compliance with the Global Operational Risk Framework, Policy, and Standards and will implement specific Policies/Standards/Procedures as necessary in support of the Enterprise requirements;
Strategic Drivers:
Lead role in performing an enterprise-wide risk role, ""joining the dots"" on disparate areas of the risk profile allowing management to make strategic decisions informed by risk information;
Actively design, implement and manage the strategy and programs for operational risk management along with senior CitiMortgage unit leaders;
Manage all levels of governance including direct interaction with CEO, CRO as well as Board level committee;
Full development of ORM programs in CitiMortgage, ensuring it is fit for purpose in a mortgage business while adhering to the Operational Risk Framework;
Develops Risk Appetite statement and helps the business to proactively manage to this standard;
Implement the Operational Risk Framework in CitiMortgage (and where applicable, i.e. for specific jurisdictions, ensures operational risk framework components meet regulatory expectations);
Provides risk mitigation strategies to CitiMortgage and/or the assigned businesses within the Segment;
Implements operational risk analytics with insight into their key risk areas both on a current basis as well as on a predictive basis;
Implements operational risk tolerance limits for CitiMortgage and Key Risk Indicators. Partner effectively with the business line to resolve tolerance breaches leading to a stable risk profile;
Represents Citi at operational risk industry events and provide visibility to Citi as an industry leader.
Program Management:
Leads the design, implementation and sustainability of operational risk management programs and practices (Scenario Analysis, Event Data Collection, Business Environment Internal Control Framework, Key Risk Indicators)
Key driver in the design of op risk policies and lead in the implementation of the policies within CitiMortgage
Creates and maintains standards and processes for the execution of operational risk programs in CitiMortgage
Works with Senior OR Directors across Citi to determine appropriate requirements for policies, standards, technology tools and processes necessary for the effective execution of ORM programs
Maintains documentation on program execution outcomes
Establishes and implements appropriate oversight to ensure that policies and standards are being adhered to and exceptions are escalated as appropriate
Risk Identification, Assessment and Measurement:
Promote a strong culture of control awareness and risk mitigation in all dealings with the business and additional risk partners (e.g. ERM and IR).
Identify and quantify key operational risk exposures within CitiMortgage
Oversee operational loss event data collection within CitiMortgage, maintain log of all events and report results to senior management
Key role in performing operational risk assessments in a fully coordinated manner with other groups and in accordance with Citi Enterprise Operational Risk Management Framework.
Facilitates assessment and analysis work as required on Product Risk Review, problematic processes, outsource arrangements, key initiatives, significant loss events, what if scenarios for industry events, etc.
Analyze external events and liaise with the business to ascertain if similar exposures exist within CitiMortgage, assess the impact on the risk profile and develop mitigation strategies if required.
Risk and Control Governance:
Assesses the adequacy and strength of controls in CitiMortgage through analysis of key numerical information , analyzes the risk reward trade-off, and recommends management action to ensure a stable risk profile.
Provides management oversight, analysis, and monitoring of all control environment information pertaining to CitiMortgage
Reports operational risk profiles, analysis and exposures to Senior Management on a regular basis which is actionable by senior leaders. Reporting should include existing and emerging areas of risk, implications for operational risk appetite, and the ability of the risk management and control infrastructure to support business activities
Ensures dissemination of information on CitiMortgage operational risk management practices and programs to foster sound operational risk management at Citi leading to embedding an operational risk mindset in the business
Serves as first line of defense in working with individual business units and control teams in order to provide feedback as to operational risks residing within those areas
Oversees the Policy/Standard/Procedure program ensuring all enterprise policies are tracked, reported, and approved with tracking of implementation and appropriate reporting to senior management
Ensures there are effective operational risk management programs and/or controls in place at each of the CitiMortgage significant or material vendors
o Bachelor's or Master's (preferred) Degree, or equivalent;
o Minimum 15 years of experience in financial services industry;
o Minimum of 10 years of experience in Risk Management, with specific experience in ORM ;
o Sound understanding of risk management principles;
o Proven leadership qualities partnering with both 1LOD units and 2LOD functions
o Experience of running senior level committees and enhancing a risk governance structure;
o Strategic mindset, with excellent knowledge and understanding of Citi businesses and organization;
o Excellent communication and presentation skills;
o Proven track record of building strong relationships across business functions;
o Maturity level and skill/judgment to be able to deal effectively with senior managers within CitiMortgage;
o Strong problem solving, analytical (including qualitative analysis), research, and quantitative skills;

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