Global Head of Operational Risk - Markets & Broker Dealers

Location: New York

For additional information, please review .Operational Risk Management (ORM) is an enterprise-level independent risk management function responsible for enterprise-wide oversight and aggregation of operational risk. Its mandate covers all business lines (U.S. Consumer Cards, Wealth Management, Services, Markets, Banking & International, and Client) along with Functions (e.g., Technology, Finance, COO, HR, etc.) spanning all geographies.

The ORM function oversees the design and implementation of the non-financial risk management framework. Key objectives of the risk management framework are:

The 2nd LoD Global Head of ORM
- Markets & Broker-Dealers is responsible for leading ORM’s oversight, review, and challenge of Citi’s sales and trading businesses and its most material broker-dealer entities. They will face off with 1st line enterprise roles and will be working closely with Business and Cluster Operational in dispensing their key risk oversight responsibilities to ensure well- coordinated risk assessments, risk identification, measurement/monitoring and timely remediation of key gaps including appropriate enterprise-level aggregation.
** Key Responsibilities
*** Own and drive implementation and maintenance of the operational risk management framework including: policies, standards, technology and tools, monitoring and governance for Global Markets end-to-end inclusive of product control and business execution / Markets Operations.
* Ensure that Ops Risk for the Business (and country/business/LV, as applicable) is managed to defined Risk Appetite or Tolerance levels. In case risk levels are in potential and/or actual breach of defined thresholds, ensure risk exposure is well understood and there is a robust Path to Green to avert/remediate breach within an acceptable time frame.
* Review and confirm appropriateness and adequacy of first line risk identification, assessments (i.e. KMORs, MCA (RCSA), scenario analyses, third party reviews)
* Where necessary, conduct independent second line operational risk assessments (e.g., reviewing control design and effectiveness of key processes, end-to-end deep dives of significant control breaks that impact multiple risk categories, lessons learned and near misses) and root cause assessments
* Create aggregated risk profile for the Business using a combination of first line and independent second line assessments.
* Evaluate the quality and execution of the Business control design and effectiveness assessments and drive business efforts as needed to strengthen risk management, controls and other risk mitigation efforts.
* Escalate significant or unaddressed risk issues and control environment concerns to Business and Risk Leadership
* Assess that the Business has the appropriate skills and experience and capacity for managing operational risks, and for implementing the operational risk framework.
* Lead 2nd line operational risk oversight of Product and New Activity risk management including NAC approval/voting membership, as well as regular monitoring of the Business portfolio of Products and Services.
* In partnership with the 1

LOD Risk and Control function, provide the Business with operational risk guidance and advice through proactive engagement in strategic business initiatives / transactions and large remediation efforts.
* 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 others and create accountability with those who fail to maintain these standards.
** Management and Leadership Characteristics:
*** Broad experience in risk management including a successful track record of managing large complex enterprise-wide risk management programs at a large financial services organization
* Track record of managing internal relationships and…