Citigroup Legal Entity Risk Manager for Citigroup Global Markets Europe AG (CGME) - SVP (M/W/D) in Frankfurt am Main, Germany
Job Purpose: As part of the implementation of Citi’s transformation of CGME into an investment firm in Germany and as part of Citi’s Brexit strategy, a new role is required to strengthen the CRO 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 CRO 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. Job Background/Context: In relation to Brexit, Citi's goal is to ensure continuous and consistent service for our UK and EU clients, while retaining safety and soundness and limiting the impact to our business. Whilst Citi continues to operate in the UK market, we are also developing a new solution to meet the needs of EU-based customers. Accordingly, Citi has established the HQ of a new EU investment firm (broker-dealer) in Frankfurt, leveraging its existing infrastructure, people, and expertise there, as well as continuing to recruit new talent in Germany. The CRO 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 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 for CGME/Germany franchise. Key Responsibilities: 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. Support the development, implementation, enhancement and on-going management of CGME Risk Governance Framework. 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. 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.) Directs the approach to answering questions and involve appropriate Risk functions in Citi with audits and regulators. 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 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. 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. PERSON SPECIFICATION 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. 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. 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 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 ------------------------------------------------- Job Family Group: Risk Management ------------------------------------------------- Job Family: Regulatory Risk ------------------------------------------------------ Time Type: ------------------------------------------------------ Citi is an equal opportunity and affirmative action employer. Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi . View the " EEO is the Law " poster. View the EEO is the Law Supplement . View the EEO Policy Statement . View the Pay Transparency Posting
Citi is an equal opportunity and affirmative action employer. Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
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