CGW Asia In-Business Control Head
Hong Kong, Hong Kong

Citi Global Wealth (CGW) is an integration of Citi Private Bank and the Consumer Wealth organization into a single platform enabling Citi to serve its clients across the wealth spectrum and capitalize on Citi's industry leading capabilities to support the goal of Citi Global Wealth (CGW) Asia, which is to be the leading wealth management provider in Asia.

As we embark on this journey, it is pertinent to have a strong Risk & Control framework, supporting this goal through an independent but integral Internal Control organization as part of Asia CGW business.

The Regional CGW Head of Operational Risk & Controls will report to the Regional Heads of Asia CGW and matrix report to the CGW Global Head of Operational Risk & Controls.

This role will reinforce and support management with their critical first line of defense responsibilities and partner closely with Control Function Heads in their second line of defense (Risk, Compliance and Legal) and third line of defense (Independent Audit) positions.

Overall focus will be continuing to foster a culture of controls and accountability by leading efforts to identify, anticipate and mitigate operational, regulatory, and reputational risks across CGW Asia franchise.

Key Accountabilities

  • Take an end-to-end view of Asia CGW's risks and design & implement effective in-business controls to provide appropriate consistency in framework and execution quality across the wealth spectrum.
  • Actively collaborating with business leaders to identify, evaluate, and manage regulatory adherence risks arising from the definition of business strategy, development of new products and services, changes in regulations or internal policies, or from business-led changes.
  • This involves promoting a culture of responsible business innovation with a strong emphasis on demonstrable regulatory adherence through key risk and controls monitoring.

  • Continuously evaluating and driving the maintenance of the regulatory inventory linkage to supporting controls in Citi's system of record so that management can effectively demonstrate adherence to applicable laws and regulations through the Manager's Control Assessment (MCA) program.
  • Proactively identifying business opportunities to improve regulation risk management, prioritizing reviews to uncover root causes and unknown drivers of risk.
  • Analyze data and findings to define and present clear, concise recommendations to business leaders to strengthen their ability to make impactful strategic decisions, policy and procedure improvements, and other business strategies

  • Supporting the business on internal audit and compliance reviews and regulatory exams.Proactively drive the analysis of root causes of "failed" audits, audit issues that were not recognized as IBAM, ARCM (activities, risks, controls, monitoring) that were not included in MCA and implement measures to remediate the issues
  • Take an end-to-end view of Asia CGW's risks and design & implement effective in-business controls to provide appropriate consistency in framework and execution quality across the wealth spectrum.
  • Work closely with Asia CGW Senior Leadership, CAO, COO and Control Functions to design controls based on thorough assessment of risk, and execute against the quantitative and qualitative requirements for executing a risk-appropriate governance and control framework consistent with overall Citi policy and strategy
  • Leverage and enhance governance structures, protocols and associated issues identification and management processes to drive issue identification and resolution of the root cause issues identified as part of reviews.
  • Issues to be evaluated for lessons learned across Asia CGW markets as part of lifecycle management monitoring.

  • Focus on self-identification of key risks, emerging and growing risks; manage and react to key performance metrics and key risk indicators;
  • monitor control effectiveness via MCA, implement and execute corrective action plans; implement best-in-class AML / Sanction's screening, FATCA, CRS and other key control programs with an overall focus to deliver high rates of self-identification of issues, reduce operational losses, and remediate the root-cause of issues timely and with quality

    Additional Functional Responsibilities

  • Serve as a senior advisor to the CGW Regional Business Heads on all aspects of operational risk, compliance risk, reputational risk and responsible business practices, balancing risk management and client experience appropriately
  • Foster effective partnerships with external constituencies, including regulators, community, advocacy groups, and industry / trade associations
  • Qualifications

  • Bachelor's degree required. Master's or JD preferred.
  • 20+ years of business experience in related field.
  • Deep understanding of risks, controls, regulatory requirements as well as the business model and industry dynamics of a global business.
  • Background in general banking, wealth management products
  • Proven track record of operating in a complex and varied business environment.
  • Ability to manage in matrix environment and to motivate and engage with senior control professionals
  • Knowledge of best practices in Audit, Operational Risk, Compliance, Credit and Financial Operations areas.
  • Job Family Group : Risk Management

    Job Family :

    Business Risk & Controls

    Time Type :

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