The Global Payments Regulatory and Risk Manager role within the Clearing and FI Payments Organization has a focus on managing the annual Recovery and Resolution Plan (RRP) for the Treasury and Trade Solutions (TTS) payments business within Citi's Institutional Clients Group (ICG). This role also supports the TTS business responding to regulatory examinations and drives the completion of strategic capability developments from such examinations and other supervisory reviews. This role requires a sound understanding of the evolving regulatory environment and managing our business to ensure we continue to meet the heightened expectations of regulators that have never been more important than today. In a rapidly changing environment, managing the emerging risk strategically is vital to ensure the sustainability of the business.
The Global Payments Regulatory and Risk Manager will be part of a team that is accountable for the completion of Citi's RRP for Global Payments, with a focus on creating and driving Citi's strategy to meet regulatory expectations, and being responsible for the management of emerging risks across Global Payments and strategic initiatives.
The Global Payments Regulatory Team sits within the ICG TTS Clearing and FI Payments Organization; the team has responsibility for all client segments across all Global Payments Products. The Global Payments Regulatory and Risk Manager will report into the Global Payments Regulatory Head and will have direct interactions across all product groups and direct responsibilities into those products, specifically on strategic product developments. The job title for this role is Product Performance Management Senior Specialist.
The Prod Perf Mngmt Sr Specialist is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.
This role requires a sound understanding of the payments business with a substantial risk orientation and the ability to drive change and deliver on capabilities within the organization.
Complete Annual and ad-hoc Regulatory Requirements, with a Focus on Recovery and Resolution Planning by:
Conduct research and analysis drawing insights, develop strategies and execute initiatives to fulfill the RRP requirements
Assess potential impacts of RRP on business strategies and initiatives, create awareness, ensure alignment with the business, address challenges, and identify opportunities
Work collaboratively with a wide range of internal stakeholders, including product, operations, technology, the central RRP team, and other partners across multiple jurisdictions to obtain support and accountability for the delivery of RRP requirements
Drive data analysis, validate and compose relevant sections of Citi's RRP and regulatory examinations with a holistic end-to-end perspective
Develop, update, and communicate RRP related management reporting metrics while ensuring detailed documentation of such data, sources of information, and audit trails
Ensure alignment of RRP with other critical operations within TTS and ICG
Continuously drive improvement of Citi's RRP, including the underlying operational and technical processes that support Citi's business.
Drive a Business Control and Risk Management Framework and Environment by:
Manage multiple business relationships to ensure regulatory requirements are fully met; work with compliance groups to review and assess upcoming/ proposed changes and the impact they may have on TTS products
Drive strategic risk management initiatives for Global Payments and across ICG working with relevant businesses and functions; implement solid risk management, compliance, and change control processes to protect Citi and our clients
Provide effective risk framework and ensure the proper governance and communication models are in place facilitating transparency and consistency; work with respective teams to ensure testing, audit trail documentation, attestations etc. are appropriate and sufficient; continuously assess emerging risks through quantitative and qualitative models and formulate the strategy and tactical plans to mitigate these risks
Create business cases for funding where capability developments are needed
Work closely with Product Management to effect related changes within the business, operations, financial control, and compliance scope.
The Product Performance Management Senior Specialist partners across product disciplines, assists in managing the overall performance of a given product suite and monitors performance drivers for the products and portfolios
This position may mentor and coach team members that is responsible for supporting ongoing performance and maintenance of a product or set of products, including client experience, pricing, risk and distribution
Implements performance improvement strategies, with a specific focus on cross-sell and integration, including the development of competitive analyses, market analyses, product development road maps, market plans, pricing strategies and product line extensions
Assists sales and relationship managers in building skills needed to identify client needs, and proposes solutions in line with business objectives
Manages ongoing performance and maintenance of a product or set of products, including client experience, pricing, risk and distribution
Gathers market intelligence and develops market sizing studies and models to identify the attractiveness of particular markets segments and product offerings. Defines and analyzes sector trends, opportunities and issues
Represent customer needs and provide strategic direction on product development features, functionality and overall competitiveness
Partners closely with sales teams to identify client opportunities and with the client management organization to meet with prospective clients and to size new opportunities
Build consensus and awareness of value proposition throughout the organization and key partners
Participates in and prepares materials for the Product Approval Program and related processes, ensures products are delivered and adhere to all parameters globally
Collaborates with cross-functional teams, including technology, operations, legal, implementations, and sales to deliver solutions for Citi clients
Refines and produces sector-specific marketing material that will arm sales force with the tools necessary to grow Citi's business
Manage product risk and control, documentation, credit, legal and regulatory risk, and manage transactional P&L through business drivers, and profitability ratios
Analyzes vertical/product specific P&L's to ensure goals are being met
Participates in/facilitates product discussions with partners in asset distribution, legal, credit risk, operations and systems capabilities to ensure seamless delivery of program expansions
Involved in coaching and training of new recruits and mentor other team members
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
6-10 years of experience
Level of expertise and demonstrated experience in Product Management and/or Product Development discipline
Experience in and understanding of logistics or Industrial verticals with e-commerce solutions preferred
Ability to make complex judgments and to provide solutions based on sophisticated analytical thought comparing and selecting complex alternatives
In-depth quantitative or qualitative analysis to solve problems and develop new, innovative solutions
Ability to apply ingenuity and creativity to problem analysis and resolution in complicated and/or novel situations
Developed diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers
Experience with and confidence in delivering presentations to clients and senior managers.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.