GCG - Regional Retail Bank Risk & Control Head
- Primary Location: Singapore,Singapore,Singapore
- Education: Bachelor's Degree
- Job Function: Compliance and Control
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: Yes, 10 % of the Time
- Job ID: 17052068
This role is part of the Regional Consumer Business Operational Risk and Control (CBORC) team and is integral to establishing a robust framework that enables effective risk and control management by the Global Consumer Retail Bank covering 17 countries in Asia and EMEA. Reporting to the Regional CBORC Head, the Regional Retail Bank Risk & Control Head will primarily be responsible for working closely with the Regional Retail Bank team, Regional & Global functions (including Compliance, Legal, Operational Risk Management, Operations & Technology, etc) and Country Consumer Business Operational Risk and Control (CBORC) teams to support the implementation of robust control directives and processes as well as managing and maintaining an effective and efficient Consumer Branch Monitoring & Surveillance Program across Asia and EMEA across 17 countries in Asia and EMEA.
A critical function of the role is to provide control advisory and support to the Regional Retail Bank organization in mitigating the high business and franchise risk that are inherent to a business undergoing transformation (i.e., new product development, new process development and network optimization) in a regulatory environment that is constantly changing. The incumbent will also provide subject matter expertise on risk and control, project manage regional control initiatives and engage in Retail Bank controls strategy, governance and framework.
- Work with the Regional Retail Bank team to execute a robust control and governance framework for Asia and EMEA markets. Enhance the focus on controls and governance related to Wealth Management and Insurance products and branch network optimization to ensure that controls are keeping in pace with the evolving business landscape.
- Work with Regional counterparts (including KL COE, Investment Product Risk, AML, Legal, Compliance) to provide oversight and support the development of effective surveillance and monitoring parameters and Key Risk Indicators (KRIs), including but not restricted to sales surveillance, customer pre/post-purchase call backs, customer complaint monitoring, product reviews, etc
- Review and analyze the Quarterly Key Operational Risk (KOR)/ Key Risk and Control Indicators (KRCI) results, highlight breaches and work with the regional and country process owners to develop action plans to remediate the weaknesses.
- Coordinate with Regional/Country technology and product teams to ensure the successful implementation of new regulatory/Citi policy requirements relating to Wealth Management product launches.
- Participate in DPAC and IDPA (Distributed Product Approval Committee for Investment and Insurance products) and quarterly Investment and Insurance supervisory committee meetings to support the standardization of key control processes, escalation of significant issues etc.
- Drive a robust regional branch controls, monitoring and reporting framework, including associated processes, procedures and tools, to enable the timely and accurate sourcing, consolidation, analysis, reporting and escalation of qualitative and quantitative branch control program MIS that enable risk and control awareness, to facilitate risk-based management and to identify emerging risks, risk concentrations, and trends for corrective and preventive actions.
- Drive greater consistency and standardization for branch oversight control function with consumer bank branches across the Asia and EMEA countries, through various initiatives including data analysis comparison, identifying common gaps, developing workable solutions that can be deployed in the region, implementing process and controls improvements, developing and implementing risk based review methodology and reporting standards.
- Analyze regional branch control metrics, red flags and issues to identify risk trends and the root cause of issues, support and assist in the recommendation of actions and solutions to address the gaps and enhance controls to address and mitigate related risks.
- Support the region and functions on gap analysis and the implementation of global policy requirements and regional standards, and incorporate the updates in Regional Consumer Controls Procedures Manual (RCCPM) as required. Refine and augment the RCCPM to align with business strategy and cater for changes arising from evolving issues, trends and emerging risks.
- Provide oversight on the Volker compliance program to the Regional Retail Bank team. Work closely with Global CBORC team and Regional finance teams to ensure critical changes are being implemented seamlessly.
- Drive critical enhancements to the Manager's Control Assessment (MCA) program through alignment with evolving risks as well as changing business needs and policies, and ensuring the mapping of the Regulatory Control Matrix to the MCA is comprehensive.
- Help drive a strong control culture and ensuring permanent controls readiness through proactive risk management and issue self-identification.
- Provide advisory and support to the Retail Bank team on Internal Audit reviews, branch reviews and regulatory exams
- Lead or support as appropriate the root cause analysis of material risk events and control breaks, work with country/regional functions and businesses to establish effective feedback loop to augment control management and share lessons learned with the country and region teams.
- Coordinate and perform targeted onsite Peer Reviews in partnership with country and regional Subject Matter Experts (SMEs) with the support of local management.
- Support the Retail Bank Transformation and strategic initiatives to ensure that risk and controls are adequately managed and addressed prior to implementation.
- Provide oversight on the Conduct Risk Management framework. Work closely with Global and Country CBORC teams and Regional product teams to ensure critical changes and policy requirements are being implemented seamlessly.
- Participate actively in Global initiatives and work groups representing Asia/EMEA GCB.
The ideal candidate will meet the following requirements:
- University graduate with at least 12 years of experience with strong strategic, analytical and product management (Retail Bank/Wealth Management/Insurance) skills
- Good working knowledge of Wealth Management and Insurance products and branch processes.
- Good understanding of various branch, digital and other customer engagement channels
- Good understanding of operational risk and control processes and procedures
- Strong stakeholder management skills (e.g. written and verbal communication, influencing and negotiation)
- Strong interpersonal skills, situational awareness and emotional intelligence
- Excellent quantitative, analytical and problem solving skills with attention to details
- Ability to work independently, interface and execute with a sense of urgency and deliver tasks effectively
- Proactive, self-motivated and proven ability to use own initiative and judgment and take lead to work with internal and external clients in a positive manner and help deliver solutions that benefit the business
- Proven ability to influence across products and functions and operate effectively at all levels in a collaborative manner