Services Financial Crimes Risk (Senior Vice President)

By Joining Citi, you will become part of a global organization whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Team/Role Overview

The Services Financial Crimes Risk team is part of the first line Risk & Controls function and is responsible for ensuring proactive, effective, and sustainable financial crimes risk management within the Services business which is one of Citi’s five interconnected business lines.

The Services Financial Crimes Risk Frameworks SVP is a first line role responsible for supporting the Services businesses in managing and mitigating financial crime risks end-to-end. This role will work with the global and regional Products, Business Risk, Operations, Technology and Compliance teams to identify and assess emerging risks to ultimately ensure that the control infrastructure in place can address them in a meaningful and effective manner. Equally, the Services Financial Crimes Risk Frameworks SVP will ensure adequate mapping and ongoing assessment of existing financial crime controls, focusing on the effectiveness of existing processes and controls, as well as their adherence to existing groupwide and local policies.

The individual is required to provide oversight and assurance that through metrics, reporting and existing controls – with particular focus on AML, ABC, Sanctions and Fraud - are both effective and consistent with Citi standards and applicable law. Further, the individual will assist the prompt identification of control issues, root cause assessment, sustainable and robust issue resolution and appropriate escalation. The individual will also work with counterparts across other Citi lines of business to share control best practices and support management of financial crime risks holistically across the firm.

What you’ll do:

• Understand business-owned products, services, as well as corresponding financial crimes-related controls, and processes (e.g., customer, relationship, and transactional screening).
• Provide financial crimes compliance/risk management subject matter expertise to the Services businesses to ensure the design and implementation of a coherent and effective control environment.
• Assess existing MCA control framework, identify potential compliance gaps and advise on new controls.
• Drive execution ensuring compliance with applicable laws, rules, and regulations, as well as effectiveness of the control environment.
• Ensure adequate mapping of risk and processes and clear control ownership.
• Create & maintain a robust partnership with the business heads, operations, technology and the second line of defense.
• Escalate, assist management and reporting of issues.
• Drive a consistent and holistic approach to Financial Crimes risk management across Services.
• Ensure early engagement on new business initiatives to ensure timely support of commercial priorities and full adherence to global and regional risk management policies and procedures.
• Conduct reviews of financial crimes processes and procedures to ensure that both controls and processes are in keeping with policy and business expectations.
• Assure that controls have been implemented consistently, with appropriate supporting documentation.
• Maintain current knowledge and understanding of product innovation, client needs and of changing regulatory requirements to continuously assess impact and changes needed to existing control environment.
• Serve as an escalation point for issues or emerging from Services Operations, and Technology.
• Maintain oversight through review of metrics, monitoring of activity, and tracking of corrective action plans.
• Prepare and provide regular updates to senior management and various governance committees on control issues and/or enhancements.
• Work with other Financial Crime Risk teams to ensure a consistent holistic approach to financial crimes risk management.
• Ensure robust and adequate reporting to senior management.
• Help identify opportunities for streamlining processes and implement efficiencies that will lead to enhanced client experience.
• Support the timely response to regulatory inquiries.