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Business Risk and Control Officer (VP/Hybrid)

The Business Risk and Control Officer is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job familyResponsibilities:• Help contribute to governance and the facilitation of the execution of the Manager Control Assessment (MCA, i.e. Risk & Control Self-Assessment) as required by the MCA Standard including the assessment and appropriate approval of risk associated with business changes.• Support teams in the quality, completeness, and accuracy of the implementation of the Control Framework, including Risk Control Policy, Control Standard, Issue Management Policy, Lesson Learned Policy and Control Inventory.• Assist in performing a detailed analysis on the identification of issue root cause, partnering with control and process owners to recommendations holistic corrective actions and improvements, provide check and challenge to ensure appropriate escalation in according with Issue Management and Escalation Policies.• Help contribute to the Lessons Learned Policy, including monitoring of control breaches and dissemination and learnings across other business units for process improvement to limit the occurrence of similar future events and where similar risk exposure might exist.• Support the review and challenge process, within the FLUs, on the effective design and management of controls to mitigate risks as required by the Control Standards, including implementation and operation, conducting the control monitoring, handling deficiencies, and escalating issues for resolution.• Help contribute to the timeliness, accuracy and completeness of the MCA through controls prior to the execution of a process (QC).• Assist in the monitoring of the adherence to the MCA Standard through controls after the execution of a process (QA).• Support in dealing with Operational and Compliance Risk in accordance with established Policy requirements.• Assist in performing a detailed analysis to identify, assess, escalate, and manage risk exposures across Risk Categories (Operational Compliance, Strategic, Reputational, etc), including material, emerging and concentration risks in accordance with enterprise Policies and the establishment of Key Indicators to monitor risk exposures.• Assist in supporting Risk Appetite and monitor / assess exposures against this in accordance with enterprise requirements (if applicable).• Be part of the process to identify, assess, record and response to Operational and Compliance Risk events, ensuring these are captured accurately, timely and in accordance with requirements.• Help ensure that adequate governance and training are in place to support management of Risk profiles.• Contribute to the risks associated with New Activities and changes to the Business, ensuring these are well understood and adequately controlled (if applicable).• Support operational risk scenario analysis and stress testing for Operational Risk Capital requirements.• Support with risk and control assessments or coordination for programs within various risk stripes and ensure sufficient subject matter expertise exists to enable management of these risks within the Business (e.g. third party, fraud, sanctions etc) (if applicable).• Coordinate risk and control responsibilities and ensure accountabilities are embedded within FLUs, including providing training and leading by example.• Support with standards and procedures that conform to enterprise requirements and support sound operational and compliance risk management.• Apply knowledge of the business, products or services to identify and implement control points and processes throughout the business.• 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 behaviour, conduct and business practices, and escalating, managing and reporting control issues with transparency.Qualifications:• 6-10 years of experience.• Consistently demonstrates clear and concise written and verbal communication skills• Effective organizational influencing skills required.• Third party vendor management preferred. Demonstrated ability to lead global team efforts• Excellent problem-solving skills Ability to comprehend the big pictures with high attention to critical details• Demonstrated ability to develop and implement strategy and process improvement initiatives.Education:• Bachelor's/University degree, Master's degree preferred.------------------------------------------------------Job Family Group:Risk Management------------------------------------------------------Job Family:Business Risk & Control------------------------------------------------------Time Type:Full time------------------------------------------------------Primary Location:Florence Kentucky United States------------------------------------------------------Primary Location Full Time Salary Range:$107,120.00 - $160,680.00In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.------------------------------------------------------Anticipated Posting Close Date:Dec 25, 2024------------------------------------------------------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 Accessibility at Citi.View the "EEO is the Law" poster. View the EEO is the Law Supplement.View the EEO Policy Statement.View the Pay Transparency Posting
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What You Should Know About Business Risk and Control Officer (VP/Hybrid), Citi

At Citi, we're on the lookout for a Business Risk and Control Officer (VP/Hybrid) to join our dynamic team in Florence, KY. This role is not just about managing risks; it's about aligning our operational practices with our strategic objectives. As a key player in our organization, you'll bring your extensive experience to help navigate complex issues that can have a significant impact on our business. You'll be recognized as a technical authority while collaborating cross-functionally, ensuring that everyone hits the mark when it comes to risk management. Your analytical skills will shine as you guide teams to enhance their control frameworks and support them in implementing policies that keep us compliant. From leading the execution of the Manager Control Assessment to performing detailed analyses on root causes, your contributions will be vital in shaping the future of our operations. If you thrive in a multifaceted environment and love the challenge of driving process improvements while fostering a culture of learning, this position is for you. No two days will be the same, and you'll have the chance to influence and guide your colleagues to greater heights. Join us at Citi and play a crucial part in safeguarding our organization’s assets and reputation while developing your career alongside a supportive team.

Frequently Asked Questions (FAQs) for Business Risk and Control Officer (VP/Hybrid) Role at Citi
What are the primary responsibilities of a Business Risk and Control Officer at Citi?

As a Business Risk and Control Officer at Citi, your primary responsibilities include contributing to governance by executing the Manager Control Assessment (MCA), supporting teams with the implementation of control frameworks, performing detailed analyses on risk exposures, and ensuring compliance with control standards. Your role will involve providing advice on operational risk while promoting best practices across the organization.

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What qualifications are necessary for the Business Risk and Control Officer position at Citi?

To be considered for the Business Risk and Control Officer role at Citi, applicants should have 6-10 years of relevant experience, strong communication skills, effective organizational influencing abilities, and problem-solving expertise. While a Bachelor's degree is required, a Master's degree is preferred, along with familiarity in managing third-party vendors to lead global team efforts.

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How does a Business Risk and Control Officer at Citi contribute to process improvements?

In the role of Business Risk and Control Officer at Citi, you will conduct analyses to identify the root causes of issues and work alongside control and process owners to recommend holistic corrective actions. Your contributions will enhance control frameworks and lead to process improvements that help mitigate risks effectively throughout the organization.

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What kind of experience is preferred for a Business Risk and Control Officer at Citi?

Citi prefers candidates for the Business Risk and Control Officer position to have experience in risk management, control assessments, and compliance frameworks. Specific experience in third-party vendor management and leading teams through complex challenges is advantageous, as it provides insight into global risk management strategies.

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What are the career development opportunities for a Business Risk and Control Officer at Citi?

As a Business Risk and Control Officer at Citi, you will have multiple career development opportunities, including training in advanced risk management practices, cross-departmental collaborations, and leadership roles within the risk management framework. With a focus on continuous improvement, Citi encourages employees to grow their skills and advance their careers.

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Common Interview Questions for Business Risk and Control Officer (VP/Hybrid)
Can you describe a time you identified a significant risk in a business operation?

To answer this question effectively, provide a specific example that showcases your analytical skills and ability to manage risk. Discuss the steps you took to identify the risk, the impact it had on operations, and how you developed and implemented a solution that mitigated that risk.

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What strategies do you employ to ensure compliance with risk management policies?

When responding, highlight specific strategies you’ve utilized in past roles. Discuss how you communicate policies to team members, monitor compliance, and address non-compliance issues. Emphasize the importance of building a culture of compliance within the organization.

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How do you prioritize and manage multiple risk control assessments simultaneously?

In your response, explain your organizational skills and techniques for prioritizing tasks. Use examples to show how you keep track of deadlines and maintain open lines of communication with team members, ensuring that all assessments are completed accurately and timely.

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Tell us about a successful process improvement you initiated in your previous role.

When discussing a process improvement, outline the challenge that existed, the steps you took to analyze and implement changes, and the positive outcomes for the organization. Focus on metrics that demonstrate the improvement and how it benefited the overall risk management strategy.

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What is your experience with governance frameworks such as the Manager Control Assessment?

Detail your familiarity with the MCA or similar governance frameworks. Explain how you have executed these assessments in the past, what roles you played, and any challenges you overcame to ensure compliance and effectiveness.

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How do you stay updated on risk management regulations and industry standards?

Demonstrate your commitment to continuous learning by mentioning specific resources such as professional journals, conferences, or networks you belong to. Explain how you apply this knowledge within your role to benefit the organization.

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What tools do you use to analyze risk data?

Discuss the analytical tools and software you are familiar with or have used in past roles for risk assessment and reporting. Explain how these tools help you in making data-driven decisions and improving risk management processes.

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How do you approach training others in risk management best practices?

In your answer, discuss your methods for designing and delivering training sessions. Provide an example of how you successfully educated a team on risk management practices and the impact it had on their compliance and performance.

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What challenges have you faced in communicating risk assessments to stakeholders?

Highlight your communication and diplomacy skills. Provide an example of a challenging situation and how you navigated it to ensure stakeholders understood the importance of the risk information you provided.

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Describe your experience with operational risk scenario analysis.

Explain any background you have in conducting operational risk scenario analysis and how it has shaped your understanding of risk management. Discuss specific scenarios you’ve analyzed and how the results influenced business decisions.

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Citi’s mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. Our core activities are safeguarding assets, lending money, making payments and accessing the capi...

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CULTURE VALUES
Inclusive & Diverse
Rise from Within
Mission Driven
Diversity of Opinions
Work/Life Harmony
FUNDING
SENIORITY LEVEL REQUIREMENT
TEAM SIZE
EMPLOYMENT TYPE
Full-time, hybrid
DATE POSTED
December 5, 2024

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