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Job Overview
Individuals in Risk Assessment & Controls’ design are responsible for developing, designing, and implementing controls programs, and providing review and guidance on robust controls design adhering to Citi’s Policies, Standards, and Frameworks. Individuals proactively identify and drive controls enhancements such as automation, standardization and rationalization including transformation execution activities. Includes first line activities for identification, measurement (significance and likelihood), and ongoing assessment of key risks and controls in partnership with relevant process owners to drive management decisions to operate within the firm’s Risk Appetite.
Responsibilities
Regulatory Change Management
- Actively collaborating with business to identify, evaluate, and manage regulatory adherence risks arising from the definition of business strategy, development of new products and services, changes in regulations or internal policies, or from business-led changes.
- Working with business, Legal & ICRM to facilitate regulatory change management activities by performing comprehensive impact assessments of regulatory changes on existing business processes, policies, procedures, systems, data requirements, and the overall control environment. Develop and implement structured project plans for the timely and effective integration of regulatory changes across relevant business units, ensuring clear ownership and accountability.
- Actively collaborate with business units to identify, evaluate, and manage regulatory adherence risks arising from new regulations or internal policy changes, documenting identified gaps and required actions. Facilitate communication and training programs on regulatory changes to ensure understanding and adherence by affected stakeholders across the organization. Track the implementation status of regulatory changes using established tools and methodologies, and report progress, challenges, and residual risks to senior management and governance committees. This includes maintaining an audit trail of decisions and actions taken.
Regulatory Review & Exam Management
- Serve as Controls point of contact for all regulatory examinations, audits, and inquiries from supervisory authorities, building strong working relationships.
- Coordinate and facilitate all aspects of regulatory reviews, including meticulous information gathering, comprehensive document production, scheduling and logistical management of meetings, and managing clear and consistent communications between regulators and internal stakeholders.
- Prepare and rigorously review responses to regulatory requests, ensuring accuracy, completeness, conciseness, and strict adherence to deadlines, often involving multiple internal stakeholders. Track, monitor, and report on all regulatory findings, recommendations, and the status of remediation efforts through their lifecycle.
- Participate in targeted reviews and engage proactively with Internal Audit and Compliance Assurance over potential regulatory findings, contributing to a unified front.
- Develop and implement strategies and playbooks to address recurring examination themes and enhance overall preparedness for future regulatory engagements, including mock exams and readiness assessments.
Risk & Control Framework and Adherence
- Collaborate with business units, Legal, and Independent Compliance Risk Management (ICRM) to continuously evaluate and drive the maintenance of the regulatory inventory linkage to supporting controls in Citi’s system of record. This ensures management can effectively demonstrate adherence to applicable laws and regulations through the Manager’s Control Assessment (MCA) program.
- Support the evaluation of Regulation Risk as part of Countries’ MCA Annual Risk Assessment process.
- Review Countries’ evaluation of Regulation Risk Control performance to identify and escalate high residual risks and those breaching defined risk appetite thresholds.
- Contribute towards a 1st line state of regulatory adherence report for senior management, including analysis of trends, identified control gaps, and proposed corrective actions and improvements required to mitigate the identified risks.
- Proactively support the identification of business opportunities to improve regulation risk management, prioritizing reviews to uncover root causes and unknown drivers of risk.
- Analyze data and findings to define and present clear, concise recommendations to business leaders to strengthen their ability to make impactful strategic decisions, policy and procedure improvements, and other business strategies.
- Work with Business, Operations & Technology leadership and partners in 2nd and 3rd lines of defense teams to develop and implement a robust and integrated Risk and Control framework, enhance and strengthen the MCA program, and collaborate on audits, escalations, lesson learned exercises, P&L remediation, and horizontal reviews based on emerging issues.
Regulatory Reporting
- Collaborate with legal, compliance, and finance teams to ensure accurate, complete, and timely submission of all required regulatory reports.
- Understand the reporting requirements stemming from new and existing regulations, translating them into actionable tasks for data collection and report generation.
- Assist in the review and validation of regulatory reports prior to submission, ensuring data integrity and adherence to reporting standards. Identify and implement process improvements for regulatory reporting to enhance efficiency, accuracy, and reduce operational risk.
- Act as a subject matter expert on reporting instructions for specific regulatory frameworks.
- Develop strong relationships with Business, Operations & Technology leadership and partners in 2nd and 3rd lines of defense. Engage with them to reduce and mitigate regulation risk and participate in discussions pertaining to the continuous enhancement of regulation controls and monitoring.
- Engage with Regional Subject Matter Experts to develop requirements to automate controls and digitize monitoring where appropriate.
- Drive a strong culture of proactive risk management and regulatory compliance across the wealth business.
Qualifications and Competencies
- Minimum of 8-10 years of experience in regulatory change management, compliance, audit, or other control-related functions in the financial services industry.
- Demonstrated experience with regulatory inventory management and internal control programs.
- Strong understanding of relevant financial services regulations (e.g., AML, KYC, consumer protection, data privacy, prudential regulations) is highly valued.
- Exceptional analytical skills with the ability to interpret complex regulatory texts, assess their practical implications, and identify root causes of risk.
- Excellent written and verbal communication skills, with the ability to articulate complex issues clearly and concisely to diverse audiences, including senior management and regulators.
- Proven project management and organizational skills, with the ability to manage multiple priorities and meet tight deadlines.
- High level of attention to detail and accuracy.
- Proficiency in Microsoft Office Suite (Excel, PowerPoint, Word) and experience with governance, risk, and compliance (GRC) tools is a plus.
Education
Bachelor’s/University degree or equivalent experience
Provide support to onshore Business Risk and Controls teams for the UAE Wealth business. Undertake activities and projects in line with direction of UAE Wealth Controls Head.
Job Family Group
Risk Management
Job Family
In-Business Risk
Time Type
Full time
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.
Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.
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