Citi ORM MCA, KORs ( Key Operational Risks), Third Party Management in Mexico

  • Primary Location: Mexico,Distrito Federal,México

  • Education: Bachelor's Degree

  • Job Function: Operations

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: No

  • Job ID: 17055952

Description

Job Purpose:

ORM’s main objective is to promote continuous improvement in the design and application of operational risk management activities by:

  • Independently assessing risk, challenging both our historical and proposed practices and working as independent partners with our colleagues to improve our processes

  • Establishing and overseeing the application of operational risk policies

  • Monitoring and assessing the effectiveness of risk mitigation tools including the internal controls framework

  • Maintaining an enterprise-wide assessment of the most significant, current, and emerging operational risks to business activities, and ensuring appropriate actions are in place to mitigate these risks

  • Identifying, assessing, anticipating, measuring, reporting and mitigating Citi´s operational risk exposure

  • As needed, driving projects aimed at strengthening controls to enable better decision making about products and service offers

  • To focus on the identification, management and mitigation of operational risk. Likewise proactively assists the businesses & Operations and the independent risk and control groups in enhancing the effectiveness managing operational risks across products, business lines and regions.

Area´s Background/context:

Enterprise Risk Management at Citi was launched in 2012 with a mandate to actively reduce operational risk losses. During 2014 it was renamed Operational Risk Mahagement (ORM). ORM works proactively with businesses and global functions to embed a strong operational risk management culture and framework across Citi. ORM is responsible for identifying, anticipating and mitigating risks that could impact business objectives, and minimizing operational risk events and losses.

Operational Risk is defined as the risk of loss resulting from inadequate or failed internal processes, human factors or systems, or from external events. Broadly these are:

  • Process risks such as execution, business disruption, systems failures

  • Conduct risks such as business practices, market conduct, employment practices, workplace safety, internal theft & fraud

  • External risks such as damage to physical assets, external theft & fraudThis includes legal, franchise and reputational risk, but excludes strategic risk and the risks associated with credit or market risk judgements. Mission: To create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks. Vision: Mexico Operational Risk works with businesses and global functions to embed a strong operational risk management culture and framework across Grupo Financiero Banamex.

Note: In a gradual way, some responsibilities will be managed in conjunction with the Latam´s team (Technology, Reporting, MCA, Procedures, among others…)

Key job responsibilities will be to:

  • Work closely with the Consumer /Subsidiaries, Wholesale Businesses ORM´s Heads in Citibanamex

  • Approve and track of businesses KORs ( Key Operational Risks) & KRIs ( Key Risk Indicators) process

  • Review and track of third party process

  • Challenge of the Third Party Policy and Process

  • Work closely with the In Business SORM to implement process defined by the ORM policy

  • Support and advisor of the MCA Transformation initiative or any MCA initiative

  • Develop training and communication within local ORM team and MCA entities

  • Active participation in forums, working groups and committees

The candidate will build and make use of a solid understanding of a wide range of businesses and a network of business relationships.

Description of General Responsibilities:

  • Analyse operational risk data (typically losses, metrics, trends or assessment results) to identify significant risks and investigate causes for metrics that are deviating from trends and escalate situations that pose significant risk(s)

  • Establishing and overseeing the application of operational risk policies and governance processes.

  • Monitoring and assessing the effectiveness of risk mitigation tools including internal controls, maintaining an enterprise-wide assessment of the most significant, current, and emerging operational risks to business activities, and ensuring appropriate actions are in place to mitigate these risks. As needed, driving projects aimed at strengthening controls to enable better decision making about products and service offerings.

Specific responsibilities

  • Work closely with the In Business SORM and Businesses to review, approve and track of KORs/KRIs procedures in order to comply with policies established in the Operational Risk Policy and to communicate guidelines

  • Define guidelines to local ORM team to oversight the implementation of the ORM policy (KORs, Third party, among others)

  • Work with colleagues in other areas of Risk Management, Finance, Compliance and the Businesses to ensure appropriate management of Operational Risk processes

  • Training to the local ORM team and to the MCA Champions regarding the KORs, KRIs, Third Party, Procedures & standards defined by the policy and procedures

  • Developing of a communication strategy within ORM and Businesses

Oversight of the Operational Risk Policy:

  • Active participation with global and local groups to define guidelines to oversight the implementation of the ORM policy ( KORs/KRIs, Third party, among others)

Development Value:

This position will provide the candidate with in-depth knowledge of Citibanamex & Citi´s products, policies and risk procedures and a broad network of internal contacts.

Qualifications

Knowledge/Experience:

  • A robust understanding of financial products and processes across all of Citibanamex’ s businesses or understanding a bank as a whole organization, its main purposes, dependencies and environment. The below processes will be advantageous:

  • Credit Risk

  • Regulatory and Compliance Risk

  • Control processes

  • MCA procedures

  • Operational Risk

Qualifications:

Undergraduate degree (majors in accounting Economics, Finance, Statistics or related areas are preferred, but different majors are also of interest if other experience demonstrates quantitative and analytical skills)

  • MBA or other advanced degree in Accounting Economics, Finance or related areas (not required but strongly preferred)

  • Analytical inquisitiveness and problem solving ability; an ability to ask insightful questions, break analytical challenges into workable components and draw meaningful conclusions

  • Ability to collaborate with and lead others to achieve objectives: knows how to lead through influence (rather than command/control), build project teams that optimally leverage other people's skills and expertise, communicate effectively with senior management, build effective business relationships

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Skills:

Fluent in Spanish and English - candidate must be able to write reports, make presentations and articulate them in a clear, concise manner in both languages.

Competencies:

  • Excellent leadership, management and team work skills

  • Strong inter-personal skills

  • Analytical ability

  • Attention to detail

  • Ability to sift through complexity and see issues clearly

  • Drive and determination – high energy level, but dispassionate and independent

  • Excellent communication skills – verbal & written