VP Markets Post Trade Transaction Processing Risk Operations and Middle Office
OverviewActing as the functional heart of our business, Operations makes everything work on time and on target, in a world that demands lightning-fast transaction speeds, pinpoints execution accuracy and full visibility. It ensures global transactions flow smoothly around the clock, wherever we do business. Without it, the daily clearance, settlement and execution of a trillion dollars’ worth of trades and the weekly movement of tens of billions of dollars in dozens of world currencies would come to a complete standstill.
Success ProfileYou’ll have strong communication, planning and organizational skills which will benefit you and the team. Our teams need individuals who can research, process, and interpret large amounts of information everyday which will allow you to make ethical decisions with integrity
The Transaction and Processing Risk (TPR) Operations & Middle Office Group is a new group within Markets responsible for providing front to back connectivity with support functions in proactively developing and implementing solutions to control and monitor transaction and processing risk activities to ensure they operate within risk appetite. The team establishes and maintains a robust 1st Line of Defence control environment and culture to minimize operational risk within the business.
The objective of the Markets Post TPR Operations and Middle Office (O&MO) group is to manage Market’s exposure to processing risks by identifying the Processing Risk Exposures within O&MO and following a TPR Management Framework consisting of Risk Appetite, Governance, and Accountability for Processing Risk Management. Group, in collaboration with other areas, will also be assessing control enhancement opportunities and determining actions necessary to manage exposure within Risk Appetite.
The successful candidate will require a comprehensive and wide-ranging understanding of Risk Management protocols and expertise within multiple areas of Operations/Middle Office functions and how they interact in order to achieve the objectives of the function. The candidate must possess a strong appreciation of how the introduction of new and/or changes to existing regulations, processes, systems, controls and infrastructure may impact the business. The candidate is expected to be familiar with Risk & Control compliance requirements for a global Markets business.
- Responsible for effective TPR partnership with Operations, Technology, Operational Risk Management (ORM) and other groups to continuously enhance (design, implement, and deliver) global Operations processing risk control framework.
- Accountable owner for delivery of a small and large scale risk programs and workstreams.
- Proactively independently and in collaboration with Operations seek out control and process weakness and provide SME solution recommendations
- Responsible for daily monitoring of key ratings and indicators to determine whether Operations is operating within (or out of) Processing Risk Appetite.
- Support in assessing End to End Risks and Controls design to determine gaps in existing MCA framework for selected process.
- Identify control weaknesses & gaps, report results, raise Issues (as needed) and track to resolution by collaborating with Markets Transformation and broader Transaction & Processing Risk (TPR) colleagues so that issues have corresponding implementable actions and ownership through to closure, whilst aiming for automation of enhanced controls, where appropriate.
- Responsible for quality of reports including issues, overall control enhancements and action plans in collaboration with key business stakeholders including Markets Management, Operations, ORM and ICRM as appropriate.
- Responsible for completing tasks within broader projects to agreed timescales, whilst keeping stakeholders up to date on progress and escalating any blockers.
- Support in collaborate with ICRM, ORM and Internal Audit to support and respond to internal and external assessments
- Building and maintaining an excellent relationship with Operations, ORM and other stakeholders.
- Assist in creating and submitting timely Governance updates on progress against plan, key issues identified and escalating accordingly.
Knowledge, Experience & Skills:
- Demonstrated experience in risk management with a focus on Operations risk and controls
- Excellent leadership, ownership, accountability and delivery skills
- Proven track record of ability to recognise the issue and process weaknesses.
- Proven track record ability to take a lead and drive control enhancements within Operations/Middle Office
- Strong ability to perform targeted “deep-dive” assessments
- SME level understanding of broad range of functions and processes across Operations/MO, risks and related controls, associated with Markets businesses
- Comprehensive understanding of control design and ability to independently perform controls effectiveness assessment
- Experience in financial services; experience in planning, scoping and/or leading execution of Internal Audit, Compliance or First Line assurance projects – preferable
- Strong communication skills required in order to negotiate internally, often at a senior level.
- Experience in project management implementation
- Organisational and time management skills
- Bachelor’s/University degree or equivalent experience
- Related certifications (CPA, ACA, CFA, CIA, ACCA, CISA or similar) preferred
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.
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