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SVP, Operational Risk Sr Officer  New Activity and Product Governance at Citi

SVP, Operational Risk Sr Officer New Activity and Product Governance

Citi Wilmington, DE (On Site) Full-Time


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 (PBWM, ICG, Global Functions & EO&T) 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:

  • Operating model, staffing and culture:

  • Operational risk appetite:

  • Control objectives and standards:

  • Operational risk and control assessments and reporting:

  • Strategic decision making:

Position Objective

Reporting to the Operational Risk Senior Group Manager who heads New Activity/Product Governance for PBWM, the Operational Risk Senior Risk Officer will assit the Group manager in leading the top of the house oversight and challenge of Personal Banking Wealth Management (PBWM) Product Governance & New Activity (PG/NA) risk management, as well as Global PB Operations Entities and any other responsibilities assigned from time to time by the Operational Risk Senior Group Manager or the PBWM ORM Head. This role executes oversight of PBWMs implementation of key pillars of the ORM framework viz. risk identification, assessment, monitoring and mitigation of risk across all operational risk categories for the Product Governance organization and activities in PBWM. This will work closing with other ORM leads across the different stripes and products to ensure effective and efficient execution of the Product Risk Rating and Challenge and other aspects of the Product Governance 2nd line of defense role.

The Operational Risk Senior Risk Officer performs the role through proactive engagement with Front Line Business Units, and through effective oversight and challenge - in formal governance forums and in day-to-day management processes. The objective is to ensure compliance with Citis Operational Risk Framework and policies (especially including Citis New Activity Governance Standard and Guidance) as well as to meet regulatory Heightened Standards for the 2nd Line of Defense.


  • Provide review and challenge for the 1LOD implementation of the operational risk elements in the PG/NA risk management framework.

  • Provide independent assessment of 1LOD adherence to operational risk and PG/NA framework requirement

  • Assist in oversight of the Product Governance lifecycle across Product Inventory, Rating, Refresh

  • Review and evaluate appropriateness of 1LOD risk identification, assessments at Product level

  • Create aggregated operational risk profile for Products using a combination of first line and independent second line assessments

  • Review and challenge the Operational Risk Profile of Products at the risk prescribed frequency and ongoing monitoring on a quarterly cadence.

  • Provide assistance to PBWM ORM to deliver review and challenge of the operational risk assessments for new activities and manage the ongoing risk monitoring and challenge

  • Escalate significant or unaddressed risk issues and control environment concerns to Business/ Region/LV and Risk Leadership

  • Evaluate appropriateness and adequacy of skills and experience and capacity for managing operational risks within the Business/ Region/LV and escalate as needed.

  • Be a leader and the voice of PBWM ORM in evolving the overarching new activity risk management policy, standards, and procedures

  • Help create and deliver appropriate trainings and guidelines for the PBWM ORM organization in the new activity and product inventory risk reviews to ensure a strong and consistent approach across ORM

  • Develop strong working relationship with the business within scope to be a valued and respected partner

  • Together with the Business coverage lead establish an appropriate engagement process with the Business to enable meaningful challenge and oversight and participate in risk management focused forums

  • Assist Business Coverage lead / present relevant material as necessary at senior level governance forums such as Business Risk Reviews and Business Risk Compliance and Control Committees as well as for meetings with important stakeholders like the Regulators, 3rd Line of Defense and senior management.

  • Ensure business adherence to operational risk policies

  • Execute responsibilities articulated in the ORM Policy for independent operational risk managers including deep dives in to any significant current or emerging risk areas

  • Ensure adherence to Consumer Op Risk procedures for independent Business coverage risk managers and for the Business. Assist in the continuous improvement of these procedures to strengthen 2nd line of defense oversight.


  • Bachelors Degree / Masters Degree in Business, Finance, Accountancy, Law, Science, or other relevant fields.

  • Training/Certification or experience in database/MIS management tools a plus

Knowledge and Experience

  • Work experience of 10+ years in the financial services industry in risk and controls assessment

  • Leadership positions in Risk Management, Internal Audit, Compliance or related field a plus.

  • Well versed in breaking down complex matters into core issues and root causes so they can be more readily addressed.

  • Experience with CitiRisk and Controls and the Managers Control Framework a plus.

  • Business or Risk experience in Credit Card product/ business.

  • Training/Certification or experience in database/MIS management tools a plus


  • Strong analytical and conceptual skills.

  • Independent thinker and able to perform a credible challenge of the Business.


Job Family Group: Risk Management


Job Family:Operational Risk


Time Type:Full time


Primary Location:Irving Texas United States


Primary Location Salary Range:$134,310.00 - $201,470.00


Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Citigroup Inc. and its subsidiaries ('Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review [ Link removed ] - Click here to apply to SVP, Operational Risk Sr Officer New Activity and Product Governance

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

by Jobble

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