Wealth Business Risk and Controls Lead (SVP)

United States Citigroup

Individuals in Risk Assessment & Control design are responsible for developing, designing, and implementing controls programs, and providing review and guidance on robust controls design adhering to Citi s Policies, Standards, and Frameworks. Individuals proactively identify and drive controls enhancements such as automation, standardization and rationalization including transformation execution activities. Includes first line activities for identification, measurement (significance and likelihood), and ongoing assessment of key risks and controls in partnership with relevant process owners to drive management decisions to operate within the firm s Risk Appetite.

Responsibilities:

• Oversight over Branch Services:
  • Develop, implement, and maintain a comprehensive framework for oversight of all Branch Services (e.g., Branch operations, ATM, digital, third-party distributors/vendors).
  • Review and approves Branch processes to ensure the adequacy of control design and alignment with Local Regulatory requirements and expectation as well as Citi Global Policies and Procedures.
  • Provide guidance and support on gapping analysis and impact assessment as part of the Regulatory Change Management
  • Monitor branch activities and practices to ensure adherence to internal policies, ethical standards, and regulatory requirements, particularly those related to fair treatment of customers and product suitability.
  • Conduct periodic reviews and risk assessments of branch processes and customer interactions to identify potential risks of mis-selling, fraud, or customer detriment.
  • Provide guidance and support to branch teams on best practices and compliant branch service methodologies.
  • Oversee the entire issue lifecycle, from initial identification and documentation to root cause analysis, action plan development, implementation, and ultimate closure verification.
  • Collaborate with issue owners and relevant stakeholders to define clear, measurable, and time-bound remediation plans, ensuring accountability and adherence to agreed timelines.
  • Conduct post-implementation reviews to confirm the effectiveness and sustainability of implemented corrective actions.
  • Partner with Branches to ensure adequacy of Managers Control Assessment covering key branch controls.
  • Act as the key point of contact for all audits and reviews carried out by, but limited to, regulators, internal and external audit, and regional reviews

• In Business Privacy Officer:
  • Develop, implement, and maintain a comprehensive framework in line with of Citi Privacy and Confidentiality Policy and Standards and privacy related Regulations.
  • Reviews and approve Privacy Impact Assessment to ensure that adequate controls are in place to mitigate privacy risks in relation to new initiatives.
  • Serve as the primary point of contact for privacy-related inquiries and escalations within the wealth business.
  • Ensure compliance with applicable data privacy laws, regulations, and industry best practices relevant to wealth management activities.
  • Serve as the primary point of contact for privacy-related inquiries and escalations within the wealth business.
  • Investigate and address any identified deviations or breaches, recommending and tracking corrective actions.

• Sales Practices Review Program Lead:
  • Design, implement, and continuously enhance the sales practices review program, including methodologies, scope, and reporting mechanisms, in line with evolving regulatory landscapes and business strategies.
  • Develop and maintain comprehensive review procedures, checklists, and templates to ensure consistency and thoroughness.
  • Lead and conduct targeted reviews of sales activities, processes, and documentation across various product lines and channels (e.g., wealth management, retail banking, corporate sales).
  • Identify and document instances of non-compliance, control deficiencies, or risky sales behaviors.
  • Prepare detailed reports on review findings, including risk assessments, recommendations, and progress on remediation, for senior management, risk committees, and other stakeholders.
  • Communicate review objectives, findings, and best practices effectively to sales teams and management to foster understanding and buy-in.
  • Provide guidance and support to sales teams on best practices and compliant sales methodologies.
  • Investigate and address any identified deviations or breaches in sales practices, recommending and tracking corrective actions.

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Qualifications and Competencies:

• Minimum of 8 -10 years of experience in operational risk management, compliance, audit, or other control-related functions in the financial services industry.
• Ability to identify, measure, and manage key risks and controls.
• Strong knowledge in the development and execution for controls.
• Proven experience in control related functions in the financial industry.
• Proven experience in implementing sustainable solutions and improving processes.
• Understanding of compliance laws, rules, regulations, and best practices.
• Understanding of Citi s Policies, Standards, and Procedures.
• Strong analytical skills to evaluate complex risk and control activities and processes.
• Strong verbal and written communication skills, with a demonstrated ability to engage at the senior management level.
• Strong problem-solving and decision-making skills
• Ability to manage multiple tasks and priorities.
• Proficiency in Microsoft Office suite, particularly Excel, PowerPoint, and Word.

• Education: Bachelor's/University degree or equivalent experience

Provide support to onshore Business Risk and Controls teams for the UAE Wealth business. Undertake activities and projects in line with direction of UAE Wealth Controls Head