Management of Product Approval and Governance is an integral part of Citi's Risk Management, providing robust diligence, ongoing monitoring, review, approval and risk ratings of future and existing products and service, as part of the end-to-end governance over the product lifecycle. Citi's Product Approval and Governance processes consider both the diligence for approval and the requirements for on-going controls and management over the entire life of the product or service.
As part of self-identified and regulatory remediation efforts, Risk Management has newly set-up a Program Management Office (PMO) to design, develop and implement firm-wide New Product Approval (NPA) and Product Governance Frameworks, business specific guidelines and workflow tools. The PMO team will develop the change narrative for key internal senior management and external stakeholder groups, track and report on overall program progress and build business capabilities to institutionalize the enhanced end-to-end product governance process being developed.
The PMO team, with help of external consultants, will develop enterprise-wide frameworks for identifying new products, product risk ratings and an architecture for end-to-end product governance, including on-going monitoring of products. The scope of PMO regulatory remediation book-of-work has recently expanded significantly to include establishing a process to update and maintain product inventory for all existing and future products and services, risk rating at a product/service level and establish risk-based periodic product monitoring process across the bank.
The PMO team for Product Approval and Governance is functioning within the Chief Operating Office of Independent Risk Management and is responsible for the design and ensuring implementation of firm-wide frameworks and practices that are integral and fundamental to Product Risk Management within Citi.
The Project Senior Analyst will support remediation efforts associated with Citi's Product Approval and Governance frameworks (i.e. End-to-end Product Delivery). The Senior Analyst will work with business partners, various control functions and external consultants to ensure timely delivery of all commitments (regulatory and internal) made within the scope of the End-to-end Product Delivery program, as well as ensuring that all program deliverables address regulatory feedback, business requirements, and Internal Audit validation requirements. As part of this work, the Senior Analyst will closely track Corrective Action Plans (CAPs), and associated milestones, and report on the status of all CAPs and milestones on an ongoing basis. Additionally, the Senior Analyst will be responsible for the collection, consolidation, and review of all artifacts related to program deliverables, and ensuring that all artifacts are available to senior management, Internal Audit, and regulators, as needed. Finally, the Senior Analyst will also support creation of program governance meeting materials and artifacts, as well as efforts related to the Managers Control Assessment (MCA). The Program Senior Analyst will support the overall Program Management Office (PMO), and work closely with the PMO Leads, who report into the End-to-end Product Delivery PMO Head.
Help track all program commitments to ensure timely delivery of CAPs and underlying milestones
Help ensure all stakeholders understand the program schedule and key milestones
Coordinate with NPAC, business, and control function partners to understand and report statuses of all deliverables (i.e. whether on-time or at risk) and escalate risks as necessary
Collect evidence and artifacts for all deliverables, and conduct review for alignment to regulatory and Internal Audit expectations
Ensure all deliverable evidence and artifacts are catalogued appropriately on shared PMO site
Support creation of Senior Governance and Steering Council materials (meeting decks, minutes, and membership lists), as well as tracking follow-up items from meetings
Support development of presentations to regulators (PRA, FRB, and OCC) and senior management on remediation progress, as well as other ad-hoc reports and presentations
Monitor controls for PMO team, ensure performance of control activities, and conduct all activities related to MCA updates and assessments
Support team members in the planning, directing and coordination of day-to-day activities of running a program or portfolio of programs.
The position provides the opportunity to drive a strategically significant global control process for Citi with an active role in developing solutions for a major process re-engineering effort and implementing across multiple business lines. The Program Manager will have unparalleled organizational exposure, with visibility into product and service initiatives across ICG, GCB, and Treasury, and interaction with Senior Management from the Businesses, Risk, Control Functions and Legal Vehicle Management.
5-8 years relevant experience
Experience in the Financial Services industry, preferably in a role that requires problem solving, analytical capabilities, strategic thinking, project and / or process management, and approvals / exposure to transactions
Previous experience supporting complex firm-wide projects or processes with proven success
Experience working with multi-functional partners and internal stakeholders, with excellent written and verbal communication skills
Basic understanding and experience in Risk & Controls and / or Reporting roles in banking industry
Solid organizational skills, ability to multi-task and identify issues; ability to work under pressure will be critical
Good interpersonal skills while working across multiple functions and teams. Ability to build effective internal and external networks
Ability to communicate clearly, to think and act independently, and to know when to ask for guidance from more experienced officers or specialists
Integrity, honesty, sound judgment, common sense, and attention to detail