Services Business Sanctions Risk

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An individual in Enterprise Risk Management plays a critical role in managing the bank's diverse risks to ensure financial stability and sustained growth. This involves the identification and management of enterprise-level and cross-cutting risks, designing and executing stress tests, managing climate risk and protecting against reputational risk. This integral role within the bank ensures operations are within a defined risk appetite and contribute to the overall objectives of the bank.

Individuals responsible for In-business Risk Management oversee risk identification, assessment, measurement, monitoring and reporting. They design and implement risk mitigation actions and focus on managing one or more risks in support of business activities.

Professionals in Enterprise Risk Management are entrusted with providing a comprehensive view of risk management which enables the bank to anticipate, assess, and mitigate potential risks, crucial for the bank's success.

Responsibilities:

• Leads risk and control assessments in line with established standards, provides risk mitigation recommendations.
• Collaborates on audit, compliance, and regulatory findings, drives remediation efforts, sets up the quarterly audit process, and oversees the procedural implementation and change management to ensure sound governance and controls.
• Enhances and automates control processes, monitors control exceptions and breaches.
• Establishes and promotes strong governance, controls, and a culture of responsible finance, contributing to the implementation and oversight of the Control Framework.
• Adheres to firm's Code of Conduct, Plan of Supervision, and all role-specific policies and procedures.
• Manages risk evaluation in business decisions, ensures compliance with laws and regulations, promptly reports control issues, identifies root causes, and recommends corrective actions to prevent potential breaches.
• Maintains updated knowledge in conducting risk and control assessments and effectively influences others.
• Drives innovative risk analysis, ensures timely risk reporting, develops key communication materials, leads risk management training, and effectively manages risks related to new activities and business changes.
• Assists in governance coordination, facilitates MCA risk assessments, adheres to policy, supports risk event responses, and integrates risk and control responsibilities within business units.
• Enhances control capabilities, creates interim tools, strategizes monitoring solutions, applies business insights to implement control processes, and collaborates with stakeholders for firm protection and process improvements.
• Is an enthusiastic and early adopter of change; takes ownership for helping others see a better future and stay positive during uncertainty.
• Demonstrates and inspires curiosity in seeking new ways to overcome challenges; actively applies learning from failures.
• Challenges self and others to seek out and communicate alternative views even when unpopular; welcomes diverse ideas to improve outcomes.
• Acts as a change catalyst by identifying and helping others see where new ideas could benefit the organization.
• Proactively seeks to understand and act in alignment with organizational decisions; helps others prioritize team and enterprise success over their own personal agenda
• Focuses on highest-priority work aligned to business goals; helps others effectively manage competing priorities.
• Proactively identifies opportunities to streamline work; creates process improvements that enhance efficiency for self and the team.
• Takes personal accountability for escalating, identifying, and managing potential risk; implements controls that enhance the client experience and operational effectiveness.
• Anticipates problems and proactively identifies solutions that address the root causes and result in meaningful improvements.
• Sets high expectations and invests the necessary effort to deliver excellence and exceed performance goals.
• Role-models and helps others to do the right thing for clients and Citi in all situations, even when difficult
• Engages key stakeholders early and often and actively looks for opportunities to improve collaboration in achieving common goals.
• Proactively seeks out opportunities to volunteer in Citi programs that support the community; advocates for solutions that meet the needs of Citi's clients and the community.
• Enthusiastically promotes the unique needs and preferences of colleagues; makes active commitment to help colleagues achieve balance, well-being, and development.
• Leverages varied networks to recruit diverse talent; advocates for colleagues with diverse skillsets, styles, and experiences to gain career opportunities.
• Empathetically listens and understands others' positions before acting on issues; works to amplify voices that are minimized in the workplace
• 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 teams and create accountability with those who fail to maintain these standards

Qualifications:

• 6-10 years of experience in Operational Risk Management, Audit, Compliance or other control function
• Understanding of how to lead strong governance and controls, and build a culture of responsible finance, good governance, and ethics.
• Familiarity with the firm's Code of Conduct, Plan of Supervision, and policies and procedures.
• Background in collaborating with business partners on Audit, Compliance, and Regulatory findings and remediation efforts.
• Familiarity with enhancing, automating, or simplifying control processes as well as monitoring control exceptions and breaches.
• Knowledge of risk assessment, compliance with laws, rules, and regulations, and managing and reporting control issues.
• Proven ability to design and lead projects that enhance processes, showcasing creativity in problem-solving complex situations.
• Maintains knowledge of evolving requirements and their impacts, responsible for significant business results and technical strategy.
• Demonstrates expertise in maintaining a robust Manager's Control Assessment in compliance with risk policies, affecting primarily a sub-function.
• Proficient in applying requirements and implementing compliance policies, communicating effectively across the organization.
• Liaises with Compliance Assurance and Internal Audit for issue resolution, demonstrating leadership and responsibility.
• Maintains oversight through metrics review and corrective action plans tracking, using advanced analytical skills.
• Prepares presentations on developments and emerging risks for senior management, showcasing strong communication skills.
• Serves as a primary contact for audit groups, demonstrating strong networking and liaison skills.
• Assesses risks in business decisions, complies with laws, regulations, policies, and ensures adherence, playing a significant role in the organization's performance.
• Comprehensive understanding of risk identification, assessment, and mitigation strategies.
• Proficiency in audit processes, compliance requirements, and relevant regulatory standards.
• Capability in enhancing, automating, and simplifying control processes.
• Strong leadership skills to manage governance and foster a culture of responsible finance and ethics.
• Thorough understanding of the firm's policies and procedures relevant to the role.
• Skills in organizing and managing audit processes and procedural changes.
• Ability to evaluate risks in business decision-making and manage timely reporting of control issues.
• Effective communication skills to liaise with various stakeholders across the business.

Education:

Bachelor's/University degree, Master's degree preferred

Team/Role Overview

The Financial Crimes Risk team is part of the first line Risk & Controls function and is responsible for ensuring proactive, effective, and sustainable financial crimes risk management within the Services business which is one of Citi's five interconnected businesses lines.

This is a first line role responsible for supporting Services businesses in managing and mitigating sanctions risks. The individual in this role will work with the global and regional Products, Business Risk, Operations, Technology and Compliance teams to identify and assess emerging and existing sanctions risks, evaluate the effectiveness of existing sanctions processes and controls, and participate in, and oversee, control enhancements where needed. The individual is required to provide governance, and oversight to ensure that implementation of controls is effective and consistent with Citi standards and applicable law. Further, the individual will ensure that control issues are promptly identified and appropriately escalated, and are being addressed in a robust, consistent, and timely manner. The individual will also work with counterparts across other Citi lines of business to share control best practices and support management of sanctions risk holistically across the firm.

This role reports to the Services Global Business Sanctions Risk Head, and forms part of the Financial Crimes Risk function within Services Global Financial Crime Risk. The goal of the Services Financial Crime Risk team is to help establish and maintain a robust Financial Crime control environment and culture across the Services businesses globally.

Responsibilities:

• Understand business-owned products, and services, as well as corresponding sanctions-related controls, and sanctions processes (e.g., customer, relationship, and transactional screening).
• Provide subject matter expertise to the Services businesses to ensure effective control design both at product and process level aligning to sanctions laws & regulations.
• Monitor and track Sanctions risk issues across Services businesses. Assist in effective management and reporting of control issues.
• Assess complex Sanctions risk issues as needed, structure potential solutions, and drive effective resolution with other senior stakeholders.
• Drive execution, always mindful of the firm's reputation, its clients and compliance with applicable laws, rules, and regulations.
• Ensure adherence to Policy at all times and identify any potential gaps.
• Supervise robust execution of Sanctions controls.
• Drive a consistent and holistic approach to sanctions and wider Financial Crimes risk management across Services.
• Work collaboratively with Product teams, Operations, and Technology to assess sanctions risks on a client and product basis and evaluate sanctions controls. Support design and implementation of control enhancements, where needed.
• Conduct reviews of sanctions processes and procedures to ensure policy requirements are fit for purpose and have been implemented consistently, with appropriate supporting documentation.
• Maintain current knowledge and understanding of new and changing sanctions requirements and continuously reassess the impact on the TTS clients, products, and services.
• Serve as an escalation point for issues or emerging risks to work with the business, Operations, and others to remediate.
• Maintain oversight through review of metrics, monitoring of activity, and tracking of corrective action plans.
• Work with other Financial Crime Risk teams to ensure a consistent holistic approach to sanctions risk management.

Qualifications & skills:

• Bachelor's/University degree required, Master's degree desirable.
• 6+ years' experience in sanctions risks frameworks, including trade sanctions and export controls (either first or second line of defense).
• Financial Crime certification preferred (ACAMS, ACSS etc.).
• Strong professional experience in Financial Services, in AML/Sanctions Compliance or Business/Product Operations and/or Risk & Controls with focus on Financial Crimes Risks.
• Knowledge and understanding of Custody, Payments, Correspondent Banking, Trade Finance, Working Capital, and Liquidity Management products.
• Strong interpersonal skills. Ability to build effective relationships with key stakeholders.
• Able to work independently and deliver according to strict timelines and quality standards.
• Demonstrated ability and confidence to challenge business management, escalate issues and press for change.
• Good oral and written communications skills; must be articulate and persuasive with the judgement and authority to provide insightful commentary to senior stakeholders.

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Job Family Group:

Risk Management

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Job Family:

In-Business Risk

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Time Type:

Full time

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Most Relevant Skills

Analytical Thinking, Business Acumen, Constructive Debate, Escalation Management, Issue Management, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment, Stakeholder Management.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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