The Operational Risk Senior Analyst role is responsible for performing the key risk governance routines aligned to the Managers Control Assessment (MCA) program. The MCA standards establish a comprehensive self-assessment program, methodology and tools to mitigate risks. This role is responsible for executing the MCA standards, performing the activities and utilizing the tools associated with MCA for risk and control identification, assessment, monitoring and for residual risk management of all Governance, Risk, & Compliance (GRC) Risks supporting the following:
- Managers Control Assessment (MCA) Program
- Standard MCA Profiles (SMP) and Enterprise MCA Profiles (EMP)
- Annual Risk Assessment (ARA)
- Inherent Risk Scoring
- Continuous Risk Management & Monitoring
- Quarterly Risk Assessment (QRA)
- Regulatory Inventory Mapping (RIM)
The Operational Risk Senior Analyst role is responsible for program coordination and project management support to ensure quality and consistency in execution of standard MCA program activities, including ARCM descriptions, SMP/EMP adoption and decline rationale, and Inherent Risk scoring across all USRB assessment units (AUs). Additional responsibilities include preparation of materials for the AU control performance through Quarterly and Annual Risk Assessment activities and processes, providing a view of the businesss inherent and residual risk level overall and in relation to specified taxonomy. Responsibilities:
Performs standard MCA program activities and effective challenge of:
- ARCM Management
- Partners with the In Business Control on the set up new ARCMs
- Partners with In Business Control to execute changes/ updates to existing ARCMs including adding/ updating/ removing of ARCM language/ taxonomy and/ or inherent risk scoring
- Partners with In Business Control to accept/ reject SMPs/EMPs and ARCM dependencies ensuring consistency across AUs
- Ensures Operational Risk Events and Issues are linked to ARCMs in Citi Risk & Controls
- Supports the design of monitoring including helping to define and decide on monitoring statement language and updating monitoring language in Citi Risk & Controls
- QRA/ ARA
- Prepares the Assessment Unit level QRA and ARA decks
- Supports the evaluation of results and produces the rationale/ commentary for outliers
- Validates control performance and residual risk ratings
- Validates inherent risk rating
- Reviews results with In Business Control
- Reviews Citi Risk & Controls weekly to ensure consistency of MCA application and to identify opportunities for improvement
- Confirms continuous monitoring results have been uploaded to Citi Risk & Controls based on defined frequency; Raises gaps/ issues for resolution
- Partners with In Business Control to perform frequency reviews
- Develop and maintain processes and tools to support the MCA Execution team and drive consistency
- Regulatory Inventory Mapping
- Partners with the RIM Lead and team to support the completion of RIM activities
- Manages gap tracker to ensure resolution/ closure of gaps
- Completes required updates to tracker in Citi Risk & Controls
- Works with In Business Control to map new ARCMs to rules/ regulations
- Applies operational risk policies, technology and tools, and governance processes to ensure lasing solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.
- Contributes to risk assessments and drives actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
- Provides governance and oversight, which may include (not limited to) technology operational risk.
- Evaluates the control environment by ensuring appropriate controls are in place.
- Coordinates audits, examinations, and deliverable requirements from internal and external reviewers by supporting coordinating activities.
- Ensures project completion, special assignments, and other ad hoc activities as required.
- Ensures work products and activities comply with all regulatory policies and procedures.
- Additional duties as assigned.
- 5-8 years relevant experience
- Excellent verbal and written communication skills
- Customer focused with excellent Interpersonal skills and ability to work well in a team environment collaborating across diverse group
- Demonstrated understanding of operational risk and gap identification
- Ability to multi-task and manage multiple priorities simultaneously
- Ability to present a compelling case to influence others where appropriate
- Well versed in breaking down complex matters into core issues and root causes so that they can be readily addressed
- CBORC regulatory policies and procedures knowledge a plus
- Experience with Citi Risk & Controls and knowledge of Managers Control Assessment/ ARA QRA a plus
- Business or risk experience in credit card, retail banking or personal wealth management a plus
- Experience in Risk Management, Product Management, Internal Audit, Compliance or related field a plus
- Proficient in MS Office applications necessary for executing job responsibilities
- Strong analytical and conceptual skills
- Superior writing skills to support MCA and the development of ARMCs
- Superior communication and interpersonal skills
- Independent thinker and able to perform a credible challenge of the Business
- Ability to influence and convince without authority
- Ability to work collaboratively within and across functions and Lines of Defense
- Effective team player and contributor in dynamic environment
- Ability to work effectively in virtual team
- Bachelors/ University degree or equivalent experience
------------------------------------------------- Job Family Group:
Risk Management ------------------------------------------------- Job Family:
Operational Risk ------------------------------------------------------ Time Type:
Full time ------------------------------------------------------
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