Risk - Legal Entity Risk Manager (CGME) (M/W/D) - VP

Job Title: Legal Entity Risk Manager (CGME) (M/W/D)
Business: Risk Management
Division: DE Regional Chief Risk Officers
Officer title: VP
C-Grade: C13
Location: Frankfurt
Legal Entity: CGME
Posting until: 01 June 2022

Job Purpose:
The new role is required to strengthen the Enterprise Risk Management team in Germany/legal entity risk management.

The role will involve close collaboration with regional and institutional risk management teams, as well as a broad range of other control function and business partners. The focus will be to support the CGME CRO and ERM team in the risk management of the Citigroup Global Markets Europe A.G. entity as well as in other Germany franchise risk related matters and in the delivery of the strategic and regulatory projects and risk governance.

Job Background/Context:
CGME is acting as broker-dealer entity and falls under German supervision. Change of regulatory regime towards ECB supervision is expected to take place in 2022. In order to ensure adherence to all existing and to ensure preparation for new regulatory requirements, the job holder will be actively involved in the further evolvement of the risk management related governance and control environment.

The ERM Team is responsible for the legal entity risk management across all key risk stripes as well as providing infrastructure support, such as risk reporting for the legal entity and Germany franchise, capital planning, stress testing, committee- and meeting governance and a broad range of other regulatory projects and initiatives.

The role of the Legal Entity Risk manager would be to support the day to day risk management of the CGME primarily. Additionally, the role will also involve leading a variety of ad-hoc strategic and regulatory initiatives across the Germany franchise. Responsibilities will include liaising with all businesses, relevant Risk segments, assisting with escalations, governance and mgmt. briefing preparations, remote booking oversight and supporting robust risk governance (including the coordination of the regular Risk Management Committee) for CGME/Germany franchise.

Key Responsibilities:

• To coordinate the regular Risk Management Committee ("RMC") at CGME. This responsibility includes
  • Preparing the committee
  • Taking minutes
  • Managing/coordinating follow-ups and action points with all functions
  • Liaising with key stakeholders upon request to ensure ToR are fully met and the Bank sticks to written rule and expectations raised by regulators
  • Acting as point of contact for all RMC-related internal and external audit requests
• To serve as Risk Controller for Citibank N.A. Frankfurt branch across all risk disciplines to ensure adherence to local regulatory requirements as derived from MaRisk or other regulations.
• Responsibilities will include liaising with all businesses, relevant Risk segments, assisting with escalations, governance and mgmt. briefing preparations, remote booking oversight and supporting robust risk governance for CGME/Germany franchise.

Key Responsibilities:

• To coordinate the regular Risk Management Committee ("RMC") at CGME. This responsibility includes
  • Preparing the committee
  • Taking minutes
  • Managing/coordinating follow-ups and action points with all functions
  • Liaising with key stakeholders upon request to ensure ToR are fully met and the Bank sticks to written rule and expectations raised by regulators
  • Acting as point of contact for all RMC-related internal and external audit requests
• To serve as Risk Controller for Citibank N.A. Frankfurt branch across all risk disciplines to ensure adherence to local regulatory requirements as derived from MaRisk or other regulations.
• Responsibilities will include liaising with all businesses, relevant Risk segments, assisting with escalations, governance and mgmt. briefing preparations, remote booking oversight and supporting robust risk governance for CGME/Germany franchise.
• To actively coordinate the roll out of BCBS 239 at CGME acting as responsible implementation project lead for Risk Management. This includes close interaction with all other functions affected by this initiative both local and regional.
• Support the development, implementation, enhancement and on-going management of CGME Risk Governance Framework.
• To support the New Product Approval process as per section AT 8 of MaRisk in the coordination of initiatives.
• Assist in the governance of remote booking activity onto the legal vehicle. Support the risk assessment of transactions and new products which require approval from the CGME/Germany CRO office.
• Responsible for analyzing/communicating implications of existing and opposed regulation, best practice standards, rules, guidelines and policies, and developing potential responses. This may include regulations related to specific product or macro / systemic regulation, including standards to comply with various German and European Regulations, and regulations from other central banks and regulatory authorities.
• Support regulatory risk project management ownership (business requirements, analysis and testing) for delivery of regulatory solutions. (i.e. IFRS9, CECL, EBA guidelines, MaRisk and ECB regulations, stress testing regulatory requirements, etc.).
• Significant interaction with a wide range of senior bank and risk management colleagues, as well as external stakeholders such as regulators / auditors on regulatory/legal entity risk management matters
• To serve as outsourcing manager within his area of responsibility. This includes the full adherence to all related Citi policies and guidelines and any regulatory expectation as derived from MaRisk or the EBA Guidelines.
• To actively contribute or manage annual or periodic strategic initiatives such as the compilation of a Risk Inventory Process, the Risk Strategy and the related Risk Appetite Statement for CGME For CNAF to act as lead on above strategic responsibilities. To partner with related control functions and businesses to ensure firm due dates on above requirements are met

Development Value:
This role will provide unique visibility, cross-functional and cross Risk experience and knowledge. The position involves a significant amount of interaction with senior management and direct involvement in a variety of the critical strategic projects related to CGME entity as well as Germany franchise. The role will provide a strong understanding of the European regulatory environment, exposure to ECB supervision standards.

As such, the role will entail exposure across businesses and functions operating on Citi's new EU investment firm.

• Significant interaction with management and exposure to local and regional stakeholders
• Significant scope for improving processes and practices
• Breadth of role will provide significant business and personal development opportunities
• Unique opportunity to be part of the build out of a new entity/investment firm in Europe and business structure in a key strategic area for Citi

Opportunities available to take on additional responsibilities over time.

Qualifications:

• 7-10 years or relevant work experience (experience in risk management, finance, regulatory preferred)
• Bachelor's/University Degree, Master's degree preferred (e.g. Business studies, Economics, Quantitative studies, etc.)
• Fluent in written and spoken English, German (preferred)
• Knowledge of MaRisk, CRR, EBA Guidelines (desirable) or strong understanding of risk management principles.
• Familiarity with regulatory landscape facing global banks. Ideally, have worked in banking industry, consulting or regulators institutions.

Experience/Knowledge:

• Risk reporting or finance experience an advantage
• Strong Project management skills, drafting skills, ability to frame issues into policy documents/guidelines, etc.
• Up-to-date working knowledge of regulatory requirements and change, specifically those from Basel and European regulatory authorities (desirable)
• Previous experience in managing Regulatory Inspections and audits within a financial services company
• Advanced working knowledge of Microsoft Excel, PowerPoint, Word

Competencies

• Analytical, with the ability to manage complexity and analyse and interpret data across several risk stripes
• Ambitious and hard working, willingness to learn
• Team player, ability to work in a diverse team across multiple locations.
• Positive and pro-active professional attitude
• Ability to manage multiple demands
• Self-driven and finds it natural to take initiative and set the agenda
• Promotes diversity of thought, background and experience
• Entrepreneurial, in a corporate / globally regulated bank context
• Holds self and other accountable for results.

Skills:

• Ability to identify complex business issues ensuring proper analysis / interpretation of issues
• Strong local and remote people management skills, partnering and influencing skills.
• Strong communication skills and exceptionally good at stakeholder management at all levels
• Excellent organizational and project management skills
• Strong analytical skills & ability to solve problems
• Excellent interpersonal skills necessary to deal with colleagues at all levels across the firm
• Track record of success in delivering high quality work in a fast paced and dynamic environment
• Ability to lead projects and assignments of high complexity within Citi

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

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Job Family Group:
Risk Management -------------------------------------------------
Job Family:
Regulatory Risk ------------------------------------------------------
Time Type:
Full time ------------------------------------------------------
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