Chief Auditor, Spread Products & Markets Operations

• Primary Location: United States,New York,New York
• Education: Bachelor's Degree
• Job Function: Audit
• Schedule: Full-time
• Shift: Day Job
• Employee Status: Regular
• Travel Time: Yes, 25 % of the Time
• Job ID: 19018980

Description

About Citi:

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

Function Background/Context:

Internal Audit is a global organization of over 1,800 professionals covering Citi's global businesses and services to clients and customers in over 180 countries. Citi's Internal Audit division provides independent assessment of the company's governance, risk management and internal control environment for key stakeholders, including the Board of Directors, senior management and Citi's numerous global regulators. Internal Audit is a change agent within Citi, aimed to enhance the control culture of Citigroup worldwide and thereby support senior management decision making around the globe.

Citi Markets provides world-class financial products and solutions across a broad range of asset classes through its underwriting, sales and trading, distribution and research capabilities. Products offered include equities, commodities, credit, futures, foreign exchange, emerging markets, G10 rates, municipals, prime finance, and securitized markets. Citi Markets' platform is organized around four major geographic regions: Asia, Europe/Middle East/Africa, Latin America, and North America and has offices in nearly every major city around the globe.

Job Purpose:

This role will provide the Citi Markets organization with strategic direction in the establishment of risk auditing and reporting methodologies, organization design, and effective positioning to ensure the provision of independent assurance which is consistent and aligned with Citi business objectives. This position is a Managing Director (C16) level role based in New York, managing a global team located in Latin America, North America, EMEA and APAC. The role reports to the Chief Auditor for ICG.

The Chief Auditor is responsible for the ongoing assessment of the Spread Products and Markets Operations businesses' risk and control environment through rigorous evaluation of financial, operational and administrative controls and risk management practices, as well as adherence to laws, regulations and Citi policies. The Chief Auditor will ensure world-class coverage by attracting talent with the requisite expertise to meet the risk profile of the businesses.

Key Responsibilities: • Develop end-to-end global audit approach for all aspects of the Markets businesses named above.
• Support Internal Audit's contributions to the Board of Directors and Operating Committees.
• Manage Internal Audit's working relationship with executive management and all direct reports.
• Collaborate across the Markets businesses in order to improve the identification, quantification/measurement, management, reporting and control of business best practice.
• Provide strategic direction in the establishment of risk-focused reviews and reporting methodologies, which are consistent and aligned with business objectives.
• Act as thought leader in all aspects of auditing and risk assessment and proactively provide advice and opinions.
• Develop significant senior line management relationships. Report to senior management on issues, trends and causes.
• Proactively advise businesses on change initiatives in a review capacity or as a project participant
• Partner with other Control functions (e.g. Risk, Compliance, etc.) to ensure that Citi's control resources are focused and not duplicative.
• Maintain ongoing assessment of key risks across businesses and products, providing Business, Chief Auditor and Internal Audit Senior Managers with emerging trends/issues.
• Ensure appropriate controls are in place to support assessment of franchise and reputation risk, including strong communication and decision-making processes.
• Ensure Internal Audit meets and exceeds the requirements and expectations of Citi's regulators with regards to the auditing of Citi ICG and drive a focus on outcomes in our audit work and business solutions.

Qualifications

Qualifications and Competencies: • Specific global subject matter expertise regarding capital markets services and all supporting operating units.
• Highly experienced in understanding, dimensioning and mitigating operational impact of all aspects of an operating business across an organization.
• Expert understanding of operational risk management, best practices and control initiatives across the financial services industry, as well as across Citi.
• Proficient in auditing and validating models, including the requirements of key regulators, globally.
• Expert in understanding and developing risk metrics and reporting.
• Expert understanding of Decision Making and Approval on: key issues, policy matters, or time sensitive decisions.
• Expert understanding of best practice fundamentals specific to Capital Markets and all associated operational units.
• Proficient knowledge of liability issues, the use of different legal vehicles, standard documentation, and other legal risks.
• Proficient understanding of what client sector information and fact patterns are leading indicators for changes in overall risk to a business.
• Appreciation of the differences in business management, operation management and regulatory requirements in various major financial centers and principal locations in which Citi manages its businesses.
• Candidates should have significant diversified financial management experience, ideally including experience in audit or a related field. Business expertise should include Capital Markets products and related operations, as well as risk management. Related certifications (CPA, CFA, CIA) are a plus. Citi is committed to career development, so candidates should have the intellectual curiosity to continue to learn and grow within Citi.
• Candidates must have effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management skills are essential. This individual must be an articulate and effective communicator, both orally and in writing, with an energetic, charismatic and approachable style. Candidates must have effective persuasion skills, the ability to work effectively at the highest levels of the organization, and will display highly effective networking and influencing skills. This person will be comfortable acting as an agent for positive change with agility and flexibility.
• This individual will have proven Capital Markets experience influencing geographically dispersed teams of world-class professionals. Their experience will have been in highly respected diversified institutions with complex and diverse products and customers. He/she will have shown solid career progression within these well respected institutions and proven experience in a role with enterprise wide scope.
• This individual will be a member of the executive leadership team for Internal Audit ICG. This person will also interface with Citi Markets leaders as Citi will be driving leading edge practices. He/she will have executive presence and a reputation for building strong relationships with stakeholders and leading teams, both direct reports and in peer/influence models. Effectiveness in working within a large scale and complex matrix organization is essential.
• Valuing Diversity. Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organizational success.