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Citi: Tts P&R-Product In Business Aml Risk Manager Svp


This is a Full-time position in Queens, NY posted January 12, 2021.

The Payments and Receivables [P& R} In-Business AML Risk Manager is a specialist who supports the Payments and Receivables Risk and Control environment.

This role plays a key role in managing and mitigating operational, compliance and regulatory risks, and executing risk and control responsibilities for the business as a First Line of Defense function in coordination with TTS AML Risk management.

This role aims to further develop effective AML and Sanctions risk management solutions by working in close partnership with Product managers, TTS AML Risk, Compliance, Operations and Technology and ACRM both regionally and globally.

The TTS P& R In Business Risk AML Manager is responsible for providing business-wide guidance and support, and is responsible for proactively driving the In-Business Risk (IBR) strategy.

This individual also participates in AML Policy developments and new product development initiatives to ensure appropriate controls, in support of Global AML Risk teams.

This important business risk role in coordination with TTS AML Risk will drive AML / Data and product standards best practices across the Global P& R landscape from an in-business product perspective.

This individual will proactively review those business processes in Payments and Receivables with a higher inherent AML risk, for example Payer ID, in addition to the Payment Products that this capability touches; and manage the product standards and product builds that are needed to ensure that our solutions for these segments remain risk managed.

This individual will have a focus on the Payment Intermediaries segment, and a strong working knowledge of key regulations like EU Funds Transfer, FATF and similar requirements.

This role has responsibility to work with the P& R business lines (globaland/or regional), regional and global AML In Business Risk, the TTS Partner teams (Operations and Technology, Implementations, Sales, Innovation) and second line partners (Risk, Compliance, ORM, FRM, Legal) on risk, compliance and control matters, to establish and maintain a robust framework that enables effective risk and control management across the P& R business.

This includes assessing and providing objective views on risks, controls, and trends, and implementing change as required.

The P& R In Business Risk team is responsible for establishing, running, and continuously enhancing the Business’s IBC control program in compliance with the global TTS program, and includes the following key responsibilities and activities (more detail on each included in Key Responsibilities): In Business Controls GovernanceEnd-to-end Process Management across all risk and control processes and initiatives (including Third Party and Inter-affiliate) Issue Escalation and SocializationNew Product and Business Practice ReviewsIssue management and Corrective Action Plan (CAP) Coordination, Monitoring and Escalation Risk and Control Project Management ‘Deep Dive’ Reviews GRC Risk Taxonomy: Within Primary Responsibility: Operations and Compliance Risk: Fraud Risk (excluding Technology) Money Laundering Risk Sanctions Risk Bribery Risk Market Practices Risk Customer Protections Risk Governance & Prudential Risk Risk Oversight Errors Data Management Risk Reporting Risk Model Risk Physical Damage Risk Human Capital Risk Processing Risk Third Party Risk Technology Risk (including Cyber) Within Ancillary Responsibility: Credit Risk Market Risk Strategic Risk Liquidity Risk Reputational Risk Key Responsibilities TTS In-business Controls Governance In coordination with TTS AML Risk, act as an SME for all AML related matters within the P& R business.

Maintain front-to-back line-of-sight on AML risks and controls across remit Across all sub-products from an end-to-end perspective Across all geographies (Regions) for the P& R business Ensuring sound oversight of the risks associated with the technology, infrastructure and operational support of those products Contribute to relevant risk and control committees, management meetings, and forums (e.G.

Business Risk, Compliance, and Control (BRCC) committee, AML BGC, Sanctions meetings, Legal Vehicle Governance Committees, MCA committees, Operational Risk Metrics committee etc.) to represent the risk and control aspects of P& R.

Assess impact of proposed changes to AML and Sanctions policies/procedures/guidelines and in coordination with TTS AML Risk work with AML and Product Compliance to ensure the business operates in line with regulatory requirements.

End-to-end Process Management (Including Third Parties and Inter-affiliate) Work with the TTS product and function heads to map and document processes including those that tie into third parties (external and internal).

Use the process maps to support the product and function owners in identifying risks and incorporating appropriate controls (as outlined in #3 below) to ensure compliance with AML process and control requirements as laid down by local regulations in coordination with TTS AML Risk as well as internal Citi policies and procedures.

Work with TTS TPM Global Head for onboarding of any new third party partnerships to ensure compliance with Citi TPM Policies and procedures Support efforts to appropriately structure and manage ACFs (Alternate Control Frameworks).

Issue Escalation and Socialization Follow Escalation Policy and procedures to ensure effective escalation and socialization of material risk events and issues across business for area of remit/ responsibility in coordination with TTS AML Risk In coordination with TTS AML Risk, escalate material risk events and issues to appropriate levels of country and regional management.

Maintain an escalations tracker, and lead and support root cause analysis, trending, and lessons learned as per Lessons Learned Policy and procedures New Product and Business Practice Reviews Participate in the appropriate design of AML controls for new products in coordination with TTS AML Risk Support Product teams, TTS AML Risk and Compliance to assess AML and Sanctions risk for new and enhanced products and innovative solutions, such as eCommerce, projects and deals based on globally approved guidelines, with a particular focus on the early product development stages to ensure adherence to the NPA Control Framework.

Perform new product risk and control reviews, and in coordination with AML Risk support approvals through appropriate forums (e.G.

New Product Approval Committee).

Analyze new product issues and draft lessons learned to prevent recurrence.

Support the Business Head in the rollout of global, regional and local business practice requirements, and perform exception and trend analysis on customer complaints including recommended corrective actions.

In coordination with TTS AML Risk, provide business oversight to the TTS AML monitoring program; work with TTS AML Risk and Compliance to develop an appropriate AML monitoring framework for key high-risk programs Issue management and Corrective Action Plan (CAP) Management, Coordination and Escalation Assist business in creation of issues/ CAPs in iCAPS as needed (issues and CAPs owned by Product/ Region business owner) in coordination with TTS AML Risk Track issue and CAP status and progress, particularly in case of AML relevant issues, and proactively escalate as appropriate to the P& R Business Head, COO, TTS Business Head, TTS AML Risk and Global Operational Risk Head (escalation as per procedures and key focus areas of the firm such as past due items, items at risk of missing target dates) Review and document management-raised issues and CAPs in the iCAPs system (while ownership for the issues and CAPs remains with the Business and Function Heads), including compensating controls and the Issues Being Addressed by Management (IBAM) checklist.

Validate completed CAPs in the iCAPs system prior to validation by other control and assessment functions such as Internal Audit and ORM.

In support of TTS AML Risk, support the AML-related internal or external reviews, including managing exam preparation and deliverables.

Risk and Control Project Management In coordination with TTS AML Risk, support or lead significant AML initiatives for TTS P& R and produce milestone reports for senior management.

Coordinate and support the Business in the implementation of global, regional and local regulatory, risk and control projects.

Ensure high quality execution across area of remit for any Citi or ICG initiated programs, in coordination with Global In Business Risk/ IBC team Provide support for the implementation of process enhancements, control improvements, and best practices resulting from engagement with the Global In Business Risk/ IBC team and networking with peers Drive communication plans to ensure awareness of changes in the AML and Sanctions policies/requirements by TTS Product and country teams.

‘Deep Dive’ Reviews Participate in process deep dives and analysis, and report on issues and recommendations in coordination with TTS AML Risk Participate in ‘health check’ peer reviews.

Provide support for the implementation of process enhancements, control improvements, and best practices Coordinate and deliver targeted AML training and guidance when necessary.

Skills and Experience Minimum 8 years in the Financial Services industry Sound Knowledge of TTS business and products Preferably 3 years of experience in an Internal Audit, first line Risk Management, or Control Management-related role Ability to lead and drive controls across the products and functions irrespective of reporting lines Ability to build rapport and work closely with key senior stakeholders and partners within and outside the business Up-to-date understanding of key risk and control concepts, tools and trends relating to risk identification, rating and prioritization, mitigation, and reporting, Operational Loss treatment, Anti-Money Laundering/ Anti-Terrorist Financing (AML/ATF) as well as the Basel Committee on Banking Supervision Accords (Basel I / II / III) and the COSO framework Excellent communication skills (written and verbal) Risk-based thinking and analytical mindset Self-starter who can work independently Strategy and execution skills to prioritize areas of focus while also driving implementation in a large, global, and matrixed environment Ability to work on virtual projects and across virtual teams to get work done Ability to multi-task and manage concurrent projects and deliverables Proficient in the use of Microsoft applications (Word, Excel, PowerPoint) Development Value: A broad view of large, diverse and complex TTS business globally Opportunity to grow in a challenging business environment Engagement with all aspects of the business Job Family Group: Risk Management Job Family: Business Risk & Controls 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.

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