The ME CBORC manager assists the ME CBORC Head in establishing, running, and continuously enhancing the Country Consumer Risk and Control program for the in the following key aspects:
- Consumer Business Control Governance and Line-of-Sight
- Process mapping and management (including Third Party and Inter-affiliate)
- Risk Identification, Analysis, and Management
- Standards and Procedures Coordination
- Issue Escalation and Socialization
- End-to-end Regulatory Compliance Process Review
- Manager’s Control Assessment (MCA) Coordination
- Issue and Corrective Action Plan (CAP) Process Oversight, Coordination and Validation
- Advisory linked to Audits, Franchise Reviews and Regulatory Examination Management
- Training and Awareness
CBORC Governance and Line-of-Sight
- Assist CBORC head in maintaining front-to-back line-of-sight on risks and controls across all country Consumer business processes (e.g. Cards, Loans, Mortgages, Wealth Management, Branches, etc) and functions (Consumer Operations).
- Represent the CBORC head as required on risk and control matters to support and maintain oversight over emerging and existing key risks, issues, control weaknesses, control processes, corrective actions, control validations, and control enhancement initiatives front-to-back for the Consumer Bank.
- Help in the establishing, participating and collating appropriate content for relevant risk and control committees, management meetings, and forums (e.g. Control meetings, BRCCs etc)
- Perform risk assessment, analysis and trending, and escalate control breaks
Process Mapping and management (Including Third Parties and Inter-affiliate)
- Work with the various businesses units to map and document processes including those that tie into third parties (external and internal).
- Use the process maps to support the Consumer business and function owners in identifying risks and incorporating appropriate controls to ensure compliance with process and control requirements as laid down by local regulations as well as internal Citi policies and procedures
Risk Identification, Analysis, and Management
- Work with country Business and Function units and the Regional CBORC function to identify, quantify, prioritize, and report key risks and vulnerabilities within the consumer Bank while linking with the MCA Process, Risk and Control (PRC) process.
- Provide specialist key control design, monitoring and execution advice and guidance to the various business units and functions
- Support as appropriate the root cause analysis of material risk events and control breaks. Support the business in drafting appropriate corrective and preventive actions plans
- Assess, evaluate, and validate controls through processes and tools such as the MCA, KRIs and work with the process owners to develop action plans that remediate the weaknesses. Establish reasonable thresholds for KRIs, and supplement KRIs to cater for local regulatory requirements
- Support the business in reviewing, maintaining, and enhancing Permanent Control Readiness
Standards and Procedures Coordination
- Support the business and functions on gap analysis and the implementation of global policy requirements and regional standards, and on the assessment of legal and regulatory requirements with Legal and Compliance as well as the development of local procedures.
- Coordinate and support the review of consumer processes and controls, both at the inception of new processes and controls, and when these undergo material change, including appropriate linkage with the MCA
- Track and review deviations and risk acceptances when raised and at the time of renewal to assess the need for deviations, and ascertain that Consumer business and function owners have implemented and documented effective compensating controls
- Specifically, in conjunction with BOF, business units and functions, perform gap analysis of local processes and procedures vis-a-vis the Regional Consumer Control Procedure Manual (RCCPM) and incorporate local processes and legal and regulatory requirements; coordinate with the business units and functions to remediate gaps and supplement local procedures and checks
Issue Escalation and Socialization
- Participate in and facilitate an effective process to escalate and socialize material risk events and issues with country and regional management in line with the Asia Issue Escalation and Notification Guideline issued
- Escalate material risk events and issues to appropriate levels of country and regional management
- Help maintain an escalations register, and lead and support root cause analysis, trending, and lessons learned
Regulatory Compliance Process Review
- Review regulatory compliance process in partnership with Compliance including the interpretation of rules and regulations, their documentation in the Compliance Regulatory Control Matrix (RCM), the mapping from the Compliance RCM to the MCA, and the testing of rules and regulations.
Manager’s Control Assessment (MCA) Coordination
- Coordinate the overall MCA and Annual Risk Assessment (ARA) processes for the Consumer businesses and functions, track their status, ensure timely completion, and escalate exceptions
- Support the business in performing its ARA based on the analysis of internally raised risks and issues (management-raised issues, Compliance review issues, Internal Audit review issues etc) and externally raised risks and issues (regulatory issues, KPMG observations, etc). Perform a review of the business’ PRCs (Processes, Risks, and Controls) for quality assurance and completeness
- Perform periodic gap analysis between the Regulatory Control Matrix (RCM) and MCA to ensure that all key RCM controls are captured in the MCA
- Perform sampling-based quality assurance on MCA results and corrective actions arising from identified exceptions
- Analyze MCA issues and trends, work with the business on implementing appropriate corrective actions, and share best practices
- Coordinate and track the appropriate training of MCA testers based on the regional MCA training program and escalate exceptions
Issue and Corrective Action Plan (CAP) Process Oversight, Coordination And Validation
- Track issue and CAP status and progress, and escalate issues and CAPs that are at risk of missing their target dates at least 30 days ahead of the targeted closure date. Support the business on ‘at-risk’ issues and CAPs
- Act as ‘gate keeper’ and ensure data quality by centrally reviewing and documenting Management-Raised Issues and associated CAPs along with compensating controls and IBAM (Issues Being Addressed by Management) checklists in the global iCAPs system for issues and CAPs that have been drafted by the Consumer business and function owners
- Ownership for issues and for developing and implementing CAPs remains with the respective Consumer business and function heads
- Perform quality assurance/ sanity checks on completed CAPs in the iCAPs system prior to formal validation by other control and assessment functions such as Internal Audit
Audits, Franchise Reviews and Regulatory Examination Management
- Proactively provide advisory and support for audits and reviews especially through initiatives driving permanent control readiness.
- Support the CBORC head, consumer business and functions on Consumer-related reviews and audits. Support the business on reviewing and responding to findings issued by reviewers.
- Proactively drive the analysis of audit issues that were not recognized as IBAM, PRCM (processes, risks, controls or monitoring) that were not included in MCA and help implement measures to remediate the issues.
Training and Awareness
- Perform training for Consumer business staff on risk and control concepts, processes, tools, and on effective issue self-identification and testing. Customize global and regional training programs to cater for local requirements and nuances
- Create Permanent Control Readiness awareness across all country Consumer businesses
- Professional Experience
- Minimum ten years in the Financial Services industry
- Minimum two years in an Internal Audit, Risk Management, or Control Management-related role
- Minimum Bachelor’s Degree or equivalent professional qualification
- Skills and Competencies
- Strong understanding of Consumer Bank products and processes
- Ability to drive controls across the products and functions irrespective of reporting lines
- Ability to manage through influence (e.g. management in the absence of reporting lines or with matrix reporting)
- Ability to build rapport and work closely with business, functional, regional stakeholders and partners within and outside the country Consumer business
- Up-to-date understanding of key risk and control concepts, tools and trends relating to risk identification, rating and prioritization, mitigation, and reporting, Operational Loss treatment etc.
- Risk-based thinking and analytical mindset
- Self-starter who can work independently
- Ability to multi-task and manage concurrent activities and deliverables
- Proficient in the use of basic Microsoft applications (Word, Excel, PowerPoint)
- A key specialist role supporting the CBORC Head, providing exposure interaction with seniors/ functional heads and regional counterparts
- Participation and exposure in a number of Country Governance meetings
- Opportunity to be part of cultural change and drive best practices in risk and control aspects of the consumer business
- Experiential learning across all product lines, processes and operational challenges.
- Developing a judgement on risk based approach.
- Master”s Degree
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