Analyst / Officer – Product Risk Governance
Citi's Product Risk Governance group provides a risk framework for the end-to-end oversight of products and services across Citi's multiple businesses including the Institutional Clients Group (ICG), Global Consumer Business (GCB), Citi Private Bank (CPB) and Citi's Commercial Bank (CCB). Product Risk Governance includes:
- The new product approval (NPA) process, which is an integral part of Citi's Risk Management organization, provides a robust diligence, review and approval of new products and services as part of the end-to-end product lifecycle. Citi's NPA process helps to ensure that all new or modified products and services undergo a transparent, consistent, rigorous, documented and auditable review and approval process for the identification and evaluation of significant risks to Citi and its clients.
- The Investment Product Risk (IPR) group is responsible for the independent risk oversight and monitoring of the risks associated with Citi's global activities in the distribution and management of investment products and services that are offered to retail clients. IPR is focused on Client/ Customer Protection Risk, primarily Suitability and Fiduciary Risk, and
- The Program Management group for end-to-end product governance focuses on-going development of fundamental product frameworks and processes, and the re-re-engineering of the NPA process.
The Product Risk Governance team is part of the Risk Governance organization reporting to the Chief Operating Office for Independent Risk Management which is responsible for the design and implementation of firm-wide frameworks and practices that are integral and fundamental to Risk Management within Citi. The Risk Governance group is divided into 5 areas: 1) Risk Frameworks & Processes, 2) Product Risk Governance, 3) Regulatory Affairs & Governance Committees, 4) Controls & Issue Management, 5) Risk Strategies & Operations.
The Risk Policy Intmd Analyst is a developing professional role. Deals with most problems independently and has some latitude to solve complex problems. Integrates in-depth specialty area knowledge with a solid understanding of industry standards and practices. Good understanding of how the team and area integrate with others in accomplishing the objectives of the subfunction/ job family. Applies analytical thinking and knowledge of data analysis tools and methodologies. Requires attention to detail when making judgments and recommendations based on the analysis of factual information. Typically deals with variable issues with potentially broader business impact. Applies professional judgment when interpreting data and results. Breaks down information in a systematic and communicable manner. Developed communication and diplomacy skills are required in order to exchange potentially complex/sensitive information. Moderate but direct impact through close contact with the businesses' core activities. Quality and timeliness of service provided will affect the effectiveness of own team and other closely related teams. Key Responsibilities:
- Assist in monitoring of business activity, client assets and products in order to identify risk trends and emerging risks.
- Create ad hoc reports in response to internal requests, as well as requests from Businesses, Risk/Functional areas, auditors and regulators. Assist in the creation of metrics reporting, including investigation of exceptions.
- Contribute to the evaluation of bank products and services, understanding the objective of a product or service and the key drivers and risks that may affect its performance, the controls that help to mitigate risks, in order to arrive at a conclusion regarding its overall risk to Citi.
- Review approval documentation for completeness and assist in facilitating approval committee meetings.
- Undertake ad-hoc research projects into specific types of investment products in order to shape Risk Management's evaluation of the risks associated with individual products and, if necessary, define mitigating controls to help address such risks.
- Assist in maintaining the proprietary risk technological systems used to implement Citi's control framework.
- Facilitating Risk Managers' interactions with internal partners, e.g. collecting information, facilitating discussions, preparing materials, etc.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required. Development Value
- The position provides the opportunity to have insight and engagement in the end-to-end product governance including how new products, new services, complex transactions and business lines move from inception to launch in the firm with exposure to new, innovative and complex activities initiated across Citi.
- The developmental opportunities include:
- Significant organizational exposure and opportunities to interact with all areas of Citi, including front office, risk and control professionals, Legal Vehicle management and Corporate Policy Groups;
- Develop an understanding of the risk and control areas and their key issues and considerations, Gain insight into franchise risk management issues and regulatory considerations.
- Bachelor's Degree with specialization in business, finance or economics. MBA, CFA or other finance-related higher education desirable.
Job Family Group:
- Highly organized with superb attention to detail.
- Able to manage multiple requests concurrently that are often different in subject and urgency.
- Flexibility in thought and approach; able to introduce creative solutions and enact reasonable judgment for complex issues that have no 'right' answer.
- Strong analytical skills.
- Excellent communication skills and strong interpersonal skills while working across multiple geographies, businesses and functions.
- Strong writing skills; ability to clearly and succinctly convey analysis and views.
- Team player also capable of working independently to drive tasks to completion.
- Strong data management, analytical and presentation preparation skills.
- Strong competency with Word, Excel and PowerPoint.
- Eager to learn about Citi's businesses and to be challenged to take on responsibilities outside of direct experience.
Risk Management Job Family:
Risk Policy Time Type:
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