SVP – Wealth Business Risk and Controls – Business Regulatory Risk Management; UAE Nationals

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.

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.

• 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 elevate high residual risks and those breaching defined risk appetite thresholds.
  • Contribute towards a 1st line state of regulatory…