Job description

Brief Description of the Organization:

Wealth brings together the Citi Private Bank and the Consumer Wealth organization into a single platform leveraging the full power of Citi to serve the entire continuum of wealth clients, from affluent to ultra-high net worth to family offices. As we embark on this journey, it is imperative to have a strong internal control framework, supporting this goal through an independent but integral Risk & Control organization.

Job Purpose:

This is a key role responsible for the end-to-end Issue Management processes focused on issue data quality review, supporting the governance / escalation / reporting procedures / lessons learnt in issue management lifecycle.

The role will be part of the Global Wealth Issues and Review Management Capabilities within the Risk & Control organization. The incumbent will report into the Head of Issue Management (CG/CPC International) & Asia Controls.

Job Background/Context:

Majority of time is going to be spent on coordinating, monitoring, project managing and working with issue owners/coordinators, product/project owners, various 2nd Line and 3rd Line control functions, and internal risk & control colleagues to drive a robust issue management framework and culture supporting the Wealth business growth.

Responsibilities:

• Proactively working closely with the UAE CG/CPC unit managers in identifying issues, providing them with the guidance in the drafting Corrective Action Plans (CAPs) for the iCAPs system with appropriate action steps and realistic target dates.
• Responsible for performing data quality reviews of issues and CAPs being entered into the iCAPs system, including the appropriateness of issue ownership, issue attributes, and severity rating as well as adequacy of corrective actions to address the root causes and compensating controls put in place to mitigate the risk until the CAPs have been implemented sustainably.
• Monitoring that draft issues and CAPs are being submitted for data quality review and activation in iCAPs on a timely basis.
• Monitoring CAP progress, proactively escalating ‘at-risk’ Issues and CAPs to Management
• Perform the review for CAP closures memo and Issue closure packages, ensuring that CAP sustainability and internal validation is completed prior to handoff to Internal Audit for validation, ensuring that validation period is not to be used for sustainability.
• Responsible for the validation of completed CAPs and Issues that are self-identified, external or those not validated by Internal Audit.
• Partner with Business and related functions in the coordination of internal audits and regulatory reviews and provide necessary support with audit and examination deliverables, tracking of engagements, monitoring of issues and CAPs raised as part of the audit/regulatory exam process.
• Consistent, diligent and timely execution of the ‘lessons learnt’ program based on the principles of permanent control readiness.
• Perform process reviews i.e. reviews on Control design, execution and monitoring as per ongoing business requirements.
• Collaborate with Wealth colleagues to identify and adopt best practices for issue management.
• Assist in the implementation of global/cluster and country risk and control policy requirements
• Support the preparation of issue management materials for discussion (such as, key risks, issue statuses, corrective actions, control enhancement initiatives to address issues) in key management meetings, reviews and record keeping thereof for UAE CG/CPC
• Support any analytical requirements related to issue management, including identifying thematic root causes underlying issues and facilitating the effective remediation of control gaps.
• Ensure related record keeping and documentation of UAE CG/CPC governance forum and adherence to the escalation protocols in country and with the global Global/Cluster escalation processes.
• Participate in projects and initiatives as assigned.

Qualifications and Skills:

• Minimum 6-10 years of relevant controls work experience and/or project experience required
• Audit, compliance testing experience in the financial services industry preferably in consumer and wealth management, regulatory organization, consulting firm or a combination thereof
• High attention to detail and quality
• Demonstrated analytical and problem-solving skills.
• Consistently demonstrates clear and concise written and verbal communication skills
• Proficient in Microsoft Office with an emphasis on MS Excel, Powerpoint
• Effective planning and organizational skills
• Highly self-motivated and is a self-starter, ability to set priorities and manage multiple issues/projects simultaneously in a fast paced, highly matrix, dynamic environment
• Proven ability to make sound judgements
• Strong relationship building skills
• Experience in creating and implementing processes that result in improved business performance
• Strong influencing and persuasion skills, ability to present a compelling case for ideas and initiatives through listening and articulating a convincing point of view

Education:

• Bachelor’s/University degree in Auditing or equivalent experience
• Relevant certifications (CIA, FRM) will be an added advantage.

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Job Family Group: Compliance and Control

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Job Family: Business Control

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Time Type: Full time

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