The Compliance Business Control Officer (MCA Coordinator) reports to a Business Operational Risk Manager (MCA Lead), who is aligned with our business partners and one or more business Assessment Units to help appropriately manage risks arising from our products, services, and business operations. This person will work alongside the MCA Lead to ensure effective risk management is embedded in day-to-day business strategies, and related activities, focusing on strengthening MCA and infusing consistency to the design of Activity, Risk, Control and Monitoring (ARCM) frameworks and execution of ARA and periodic Risk Assessments. This role demands significant coordination across internal business teams and other support and control groups within the organization. Developed communication and diplomacy skills are required to guide, influence, and convince others, in particular colleagues in other areas.
Key Responsibilities:
- Partner with Process Owner to evaluate process activity, conduct risk assessments, and design adequate controls to be executed by Process Owner
- Engage with 2nd line partners to confirm regulatory & operational risks are identified and proper controls are in place.
- Coordinate, analyze and follow-up actions related to ORM/ICRM reviews and challenges.
- Support centralized monitoring team(s) with design of monitoring in-line with design of control.
- Lead, coordinate, and document MCA/ARA elements (e.g., Inherent Risk, Taxonomy, etc.) with ICRM, process & control owners, and monitoring teams
- Facilitate periodic Risk Assessment & ARA review sessions with AU / MGE Owner
- Input and update of content to data repositories such as CR&C and MCA Center for ARCM, ARA and periodic Risk Assessment execution, maintenance, and enhancement
- In partnership with process owners, create plans to reduce residual risks.
- Coordinate SMP/EMP applicability assessment and adoption with business, control, and monitoring owners
- Support process owners on Change Initiatives risk evaluations, Issue Management, and Internal/External reviews
- Partner with business process owner to ensure timely action on process or monitoring fails, trends, operational losses, open issues, and action plans from ineffective control.
- Assumes leadership role in ensuring all Citi Risk & Controls (GRC) changes, issues and requirements are cascaded, executed, and closed out. This includes a range of responsibilities such as standard / enterprise control profile adoption, periodic Risk Assessment requirements, ARA requirements system access reviews, migrations, and change management.
- Independently assess risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
- Develop and maintain relationships across the business users and Lines of Defense to better understand and deliver customer requirements by responding to changes in the internal and external business environment.
- Has the ability to operate with a limited level of direct supervision.
- Can exercise independence of judgement and autonomy.
Qualifications:
- 6+ years relevant experience
- Financial Industry experience is a must, Operational Risk would be a plus.
- Project Management Experience
- Experience in Internal Audit or Financial Control would be desirable.
- Expertise in the following would be beneficial: Fraud Awareness and Risk Management Operations and Systems (Information Security Standards, Vendor/Outsourcing Management and MCA Legal and Regulatory Compliance Management of a global operations and a complex environment that includes global teams.
Education:
- Bachelor’s/University degree, Master’s degree preferred
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Job Family Group:
Risk Management
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Job Family:
Operational Risk
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Time Type:
Full time
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Primary Location:
New York New York United States
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Primary Location Salary Range:
$129,840.00 - $194,760.00
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