Director, Regional & Country CGW Cards and Loans Risk and Controls Manager- Hybrid

Business Overview

Citi's Asia CGW Business serves two of the fastest growing cities, Singapore and Hongkong through our Retail, IPB and Private Bank Business. Asia CGW business offers a diversified range of products ranging from insurance products to complex wealth management products, including FX Products to more than 115M customers, with US$260Bn in client volumes, US$2.4B of total revenue, Asset Under Management of US$42B along with a deposit book of US$90 Billion. These customers are serviced by 1000 odd Relationship and Private Bankers. With more than a century of enviable brand, Best-in-Class digital client acquisition, diverse Wealth Management product capability and market leadership, we are competitively well-positioned to grow a high-quality customer base that benefits most from our product and network capabilities.

Citi Global Wealth Management (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 CGW, which is to be the leading wealth management provider globally. As we embark on this journey, it is imperative to have a strong Risk & Control framework, supporting this goal through an independent but integral Internal Control organization.

This role is responsible for supporting the Regional and Country Cards and Loans Head in defining the strategic risk and control management approach and is key to ensuring that our risk and control strategy and practices remain aligned with our Citi Global Wealth business strategy and the ecosystem we operate in, given the rising scrutiny and expectations from the regulators, the rapidly evolving landscape of the financial services industry and the increasing sophistication of the perpetrators. The coverage will also include the Non-Branch Sales & Distribution function.

The incumbent plays a vital role in partnering closely with the Regional and Country Cards and Loans organizations in establishing well thought out and robust processes to mitigate the high business and franchise risk that is inherent to a business undergoing transformation (i.e., card merchant business alignment, digitization initiatives such as digital new account opening, digital portfolio sales and digital servicing) in a regulatory environment that is constantly changing. The role will establish governance of the risk and control functions across the Regional and Country Cards and Loans franchise, providing effective operational risk management oversight which is essential to ensuring appropriate evaluation, mitigation, and communication of Cards and Loans operational risks, identify and drive actions ensuring that root causes and themes are addressed to avoid recurrence of issues and support a robust control environment. The incumbent will regularly interface and connect closely with senior management from the Cards and Loans to enhance and drive the Cards and Loans controls strategy, governance and framework, and provide subject matter expertise on risk and control as well as project manage Regional and Country control initiatives. At a Regional and Country level, the role is also responsible for driving 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. The incumbent will also participate in various governance forums, such as the new Product Approval/ Distributed Product committee meetings to review the processes and business practices to ensure that any potential risk or control lapses are being covered and addressed.

A critical part of the role involves leading the development and deployment of 'Fast-Track' Digital Monitoring Tools (DMTs) for Cards and Loans as part of the Digital Control Assessment & Analytics program which is a strategic and important program that enables management self-identification and remediation of issues (such as regulatory breaches) and revenue opportunities (examples of key themes include inconsistencies/regulatory breaches in Credit Shield, Instalment Loans, Fees and Interests charges, and Data Quality gaps eg maiden name). The incumbent will provide subject matter expertise knowledge and serve as a strategic partner to the Regional and Country teams, working closely with the Cards and Loans product and Risk and Control teams to re-design the products, modify parameters and customer disclosure to ensure full compliance with the internal policies and regulatory requirements across countries as well as rectifying the system design to realize revenue opportunities in instances where fees or interests are undercharged.

The incumbent will chair a cross-functional Cards/Loans Interest/Fee Regional and Country Review SME forum that was established to review changes to Cards interest and fee parameters as a result of new product launch or product changes prior to the local implementation. This group reviews parameter maintenance, robustness of UAT / PAT plans and adequacy of customer communication and recommend changes to the countries to drive reduction in post implementation interest and fees issues, as a key pre-emptive control measure.

This role will report to the Asia CGW Risk and Control Head.

Key Responsibilities:

Establish and Drive Robust Control and Governance Framework

• Work with the Regional and Country Cards and Loans teams to execute a robust control and governance framework for Asia. Enhance the focus on controls and governance related to digitization and parameter maintenance to ensure that controls are keeping in pace with the evolving business landscape and drive a strong control culture and ensuring permanent controls readiness through proactive risk management and issue self-identification.
• Lead the development and deployment of 'Fast-Track' DMTs for Cards and Loans as part of the Digital Control Assessment & Analytics program which is a strategic and important program that enables management self-identification and remediation of issues (such as regulatory breaches) and revenue opportunities (examples of key themes include inconsistencies/regulatory breaches in Credit Shield, Instalment Loans, Fees and Interests charges, and Data Quality gaps eg maiden name).
• Work with Regional and Country counterparts to provide oversight and support in developing effective Key Risk Indicators (KRIs) and monitoring parameters to cover end to end product.
• Analyze Regional and Country key Cards and Loans 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.
• Coordinate with Regional and Country technology and product teams to ensure the successful implementation of new regulatory/Citi policy requirements relating to Cards and Loans product launches or changes in the existing products.
• Drive the risk and control strategy to ensure our practices and controls remain aligned with the changing business strategy and the ecosystem we operate in, and ensuring adherence to regulatory expectations and requirements.

Provide Risk and Controls advisory support to the Regional and Country Cards and Loans teams

• Provide advisory and support to the Cards and Loans teams on Internal Audit reviews and regulatory exams.
• Support the Cards and Loans digitization and strategic initiatives to ensure that risk and controls are adequately managed and addressed prior to implementation.
• Provide subject matter expertise knowledge and serve as a strategic partner to the Regional and Country teams, working closely with the Cards and Loans product and Risk and Control teams to re-design the products, modify parameters and customer disclosure to ensure full compliance with the internal policies and regulatory requirements across countries as well as rectifying the system design to realize revenue opportunities in instances where fees or interests are undercharged.
• Lead the root cause analysis of material risk events and control breaks, work with Regional and Country functions and businesses to establish effective feedback loop to augment control management and share lessons learned with the country and region teams.
• Perform targeted onsite Peer Reviews with teams of Regional and Country process, function and control subject matter experts with the support of local management.

Drive Consistency and Enhancements to Key Processes and Relevant Control Tools and Programs

• Drive consistency across countries related to documentation and standardization of key control processes and ensure all new and existing policies and procedures are properly implemented.
• Drive greater consistency and standardization for Cards and Loans across the Asia, 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.
• Partner with the Regional and Country Cards and Loans teams to develop a robust Regional and Country control 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 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.
• Implement Standard Manager's Control Assessment (MCA) Profile and continuously drive critical MCA program enhancements through alignment with evolving risks as well as changing business needs and policies, including ensuring the mapping of the Regulatory Control Matrix (RCM) to the MCA is comprehensive.

Governance Forums, Business Practices processes and reviews

• Chair a cross-functional Cards/Loans Interest/Fee Regional and Country Review SME forum to review parameter maintenance, robustness of UAT / PAT plans and adequacy of customer communication to pre-empt interest and fees issues from new product launches and changes to existing product
• Participate in the appropriate design of controls for new Cards and Loans products, perform new product risk and control reviews, and provide concurrence or approvals through appropriate forums (e.g. Pre PAC and CPAC) and quarterly Governance forums and committee meetings to support the standardization of key control processes, escalation of significant issues etc.
• Analyze new product issues and draft lessons learned to prevent recurrence.
• Support the business in the rollout of global, Regional and Country business practice requirements such as Conduct Risk Management, Treating Customers Fairly and Reputational Risk Management and perform exception and trend analysis on customer complaints including recommended corrective actions.
• Drive collaboration with Legal, Compliance, AML and Operational Risk Management (ORM) as Second Line of Defense functions, and with Internal Audit as the third Line of defense.

Qualifications/ Experience:

• University graduate/post-graduate - 15+ years of relevant experience with strong strategic and analytical skills
• Strong understanding of Regional and Country business landscape, Regional and Country CGW portfolio, business trends and operational requirements
• Strong understanding of the CGW products and business, technology platforms and related controls and processes
• Strong understanding of sale processes, digital and other customer engagement channels
• Strong understanding of operational risk and control processes and procedures
• Strong stakeholder management skills (e.g. written and verbal communication, influencing and negotiation), able to manage senior stakeholders
• Strong and resourceful problem solver who can manage issues working with the various partners
• 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
• 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
• Strong interpersonal skills, situational awareness and emotional intelligence
• Ability to prioritize tasks and work under multiple time zones and tight schedule

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Job Family Group:
Compliance and Control
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Job Family:
Business Control
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Time Type:
Full time
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