The AVP, APAC BCMA Financial Crime Business Risk Manager role involves monitoring, measuring and managing the Financial Crime Risk (incl AML, Sanctions and Anti Bribery and Corruption) and Fraud Risk control environment within the Banking, Capital Markets and Advisory (BCMA) business in Asia Pacific (excluding Japan). The role involves general Governance oversight over the 1st Line of Defence as it relates to Financial Crime risks within the BCMA business.
The In-Business Risk & Control team supports and promotes a robust control environment within the BCMA business across Citi, ensuring that all applicable internal policies and external regulations are adopted through effective and sustainable processes.
The team sits within the 1st line of defence and provides direct governance and oversight over the key Operational and Financial Crime risks of the business. This role will support the Regional APAC In-Business Financial Crime Risk & Control Lead for BCMA. The candidate will be responsible for managing a wide range of key projects, not limited to developing and enhancing the current 1st line control environment as it relates to Financial Crime.
F inancial Crimes Responsibilities:
Support transaction / deal teams in conducting Financial Crime Due Diligence (AML, Sanctions, Anti-Bribery, Fraud) and mitigating any identified risks.
Provide business oversight and support operationalization of various components of the Financial Crimes Program for BCMA, including KYC, transaction monitoring, sanctions and other AML policy/ regulatory requirements
Responsible for supporting relationships with key stakeholders including operations and functions within APAC to ensure that BCMA is able to adhere to policies and meet committed Key Risk Indicators in line with Risk appetite;
Partner with 2nd and 3rd Lines to review and evaluate Risks, Policy, Controls and execution;
Support the BCMA in AML-related internal or external reviews, including managing exam preparation and deliverables, setting up steering committees for management updates, drafting responses to findings and tracking execution of corrective actions
Understands Sanctions compliance risks inherent in the Business and the regulatory environment in which the Business operates and, where appropriate, reviews and utilizes Citi's Enterprise-Wide OFAC Risk Assessment (EWORA) to monitor the Business' risk and enhance the control environment.
Review and refine current processes to ensure continual improvement and client experience.
Responsible for analysis of data and preparation of escalations to Senior Management to ensure timely execution of key risks.
As required, prepare submissions and support the APAC BCMA In-Business Financial Crime Risk & Control Lead in representing BCMA at Regional and Global risk and governance forums
Interact with BCMA's product partners on Financial Crime related risk issues to ensure all relevant controls are effective.
Interact and collaborate with the global BCMA Financial Crimes teams.
Responsible for evaluating internal reports, databases, and operations to produce strategic and operational analyses inclusive of quality controls.
Assist with regulatory and audit inquiries as appropriate.
Act as a delegate to the APAC BCMA In-Business Financial Crime Risk & Control Lead.
Contributes to strategic, cross-functional initiatives increasing BCMA's efficiency and risks management.
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup.
If or as needed, support BCMA including interfacing with clients when necessary to explain Citi's overall approach to Financial Crimes risk.
Upholding a culture of compliance and awareness within BCMA and demonstrate the appropriate leadership qualities in doing so.
In-Business Risk and Control Responsibilities
Represent the Business on risk and control matters to support the In-Business Risk & Control function for BCMA and maintain oversight over emerging and existing key risks, issues, control weaknesses, control processes, corrective actions, control validations, and control enhancement initiatives front-to-back for the APAC BCMA Business.
Prepare submissions for 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 APAC BCMA
Work with APAC BCMA In-Business Financial Crime Risk & Control Lead to identify, quantify, prioritize, and report key risks and vulnerabilities within BCMA, document lessons learned, and propagate these across the region and functions as relevant.
Provide specialist risk and control advice and guidance to the BCMA Country/Business Heads and functions.
Lead and support the root cause analysis of material risk events and control breaks, and establish an effective feedback loop with BCMA Country, Franchise and Regional Business teams, Regional and Global BCMA IBR&C Teams. Support the business in drafting appropriate corrective and preventive actions plans.
Assess, evaluate, and validate controls through processes and tools such as the MCA and KRIs, and work with the process owners to develop action plans that remediate any weaknesses. Establish reasonable thresholds for KRIs, and supplement KRIs to cater for local regulatory requirements.
Assist business in creation of issues/ CAPs in iCAPS as needed (issues and CAPs owned by Product/ Regional business owner)
Track issue and CAP status and progress, and proactively escalate as appropriate to the APAC BCMA In-Business Financial Crime Risk & Control Lead.
Review and document management-raised / Self-Identified (SII) issues and CAPs in the iCAPs system, including compensating controls.
Qualifications and skills
The ideal candidate will have the following attributes:
Knowledge of the laws applicable to money laundering, including the Bank Secrecy Act (BSA), The USA Patriot Act, OFAC, FinCEN requirements, and SAR requirement, as well as regional regulations.
Ability to lead and drive controls across the products and functions irrespective of reporting lines
Ability to manage through influence (e.g. management in the absence of reporting lines or with matrix reporting)
Ability to build rapport and work closely with key senior stakeholders and partners within and outside the business
Excellent research skills, including experience with online research tools
Advanced proficiency in Microsoft Office (i.e., MS-Word, MS-Excel, MS-Access, MS-PowerPoint and MS-Outlook)
Professional experience in financial services specifically in BCMA (Banking, Capital Markets & Advisory), Markets/TTS (Treasury and Trade Services)
At least 5 or more years' subject matter expertise related to Financial Crimes.
Strong writing, analytical, communication and presentation skills
Experience working in a global, dynamic and virtual environment
Ability to work independently and under deadline
Demonstrated project management and organizational skills and capability to handle multiple projects at one time
Must be pro-active and keen eye for attention to detail
Must be able to function in an unstructured environment and solve issues by taking ownership and following though until the task is complete.
Proficient in Microsoft Office with an emphasis on MS Excel, MS Access, & MS PowerPoint
Aural and written Cantonese and or Mandarin would be an advantage
Education
Bachelor's/University degree or equivalent
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Job Family Group: Risk Management -------------------------------------------------
Job Family: Business Risk & Control ------------------------------------------------------
Time Type: Full time ------------------------------------------------------
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