As we continue to focus on strengthening the Controllers discipline through better integration, realignment, and growth & change, we've identified the need for Four new leadership roles that will report into our new Regulatory and Capital Reporting Head .
Those roles are:
Capital Remediation Head:
The Head of Capital Remediation is primarily responsible for driving remediation of critical issues relating to the completeness and accuracy of Citi's actuals and spot RWA (Standardized and Advanced approaches) , CET1 Capital and GSIB production and reporting. The individual will be responsible for developing and executing on plans to remediate regulatory/auditor review findings including MRIAs and MRAs.
The individual will partner closely with the Regulatory and Capital Reporting Interpretative Office on interpretations issues identified in regulatory/auditor review findings. Will work with the relevant Data Leads and team to maintain and continue to enhance data quality throughout the end-to-end data lifecycle including issues identified with proxies etc. The role will also partner with various stakeholders including the Controllers Transformation team to ensure implementation of milestones, compensating measures and strategic remediation efforts required to address relevant Consent Order, MRIA and MRAs. Finally, the role will also be responsible for establishing and maintaining a robust governance and oversight framework that provides oversight over the remediation efforts.
To be successful in the role the candidate must have a comprehensive understanding of Regulatory capital rules, control frameworks, banking operations, and financial / regulatory reporting frameworks and be able to effectively work across several teams (Business, Treasury, Risk etc.,) and functions to execute on timely remediation while maintaining a robust controls environment and advancing process improvements with a sense of urgency.
Global Reporting Oversight Head:
The Global Reporting Oversight Head will be responsible for establishing and maintaining a robust governance and oversight framework that provides oversight over the timely filing, completeness and accuracy including remediation efforts for key regulatory reports, inclusive of the US BCBS 239 Reports. This includes oversight and thought leadership across Regulatory Reporting governance and activities across Citigroup, including compliance with relevant policies and participation at governance forums and committees. In addition, the role will provide oversight over end-to-end data and process flows, ongoing review of data quality scorecards for critical data elements (inclusive of monitoring of relevant booking control performance) and ensuring certification of authorized data sources. The position will collaborate with a dedicated Data Lead and team for support with the end-to-end data accountabilities.
The position will have a high level of visibility within the organization with opportunities to work directly on a regular basis with Executive Management and will interact very closely with other Finance and non-Finance functions throughout Citi, including the Businesses (e.g., Markets), Risk, Treasury, SEC Reporting, as well as Enterprise Technology, & Operations.
Report Owner (FFIEC 101, FFIEC 102, and Pillar 3 disclosures)
This position will be responsible for the timely filing, completeness, and accuracy, of key regulatory reports inclusive of the following capital reports: FFIEC 101, FFIEC 102, and Pillar 3 disclosures as well as certain management reporting responsibilities (e.g. Monthly Capital Ratio reporting). Report ownership accountabilities will be end-to-end (from origination to reporting) include having a view of end-to-end data and process flows, ongoing review of data quality scorecards for critical data elements (inclusive of monitoring of relevant booking control performance) and ensuring certification of authorized data sources. The position will collaborate with a dedicated Data Lead and team for support with the end-to-end data accountabilities.
The GRR Report Owner will be the key point of contact as it relates to providing relevant financial information and statistical data to regulators, responding to inquiries, and having recurring meetings, as requested, involving the Federal Reserve Bank (FRB), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp (FDIC).
The position will have a high level of visibility within the organization with opportunities to work directly on a regular basis with Executive Management and will interact very closely with other Finance and non-Finance functions throughout Citi, including the Businesses (e.g., Markets), Risk, Treasury, Capital Controllers, SEC Reporting, Financial Planning & Analysis, as well as Enterprise Technology, & Operations.
Working closely with the Controllers Transformation team, the position will be a primary owner and adopter of the multi-year transformation of Regulatory Reporting that includes the relevant US BCBS 239 Reports (FFIEC 101, and FFIEC 102). The position is expected to provide thought leadership on Regulatory Reporting matters (changes due to Basel 3 End Game) and will also play a significant role in initiatives that are focused on managing the firm's spot Risk Weighted Assets (RWA").
This position will be responsible for the timely filing, completeness, and accuracy, of key regulatory reports inclusive of the following key reports: FFIEC 009, FFIEC 009a, FR 2510, and FR Y-15 as well as certain other Treasury International Capital (e.g., TIC B, TIC D, SLT) and legal entity reporting (e.g., FR Y-11, FR 2314). Report ownership accountabilities will be end-to-end (from origination to reporting) include having a view of end-to-end data and process flows, ongoing review of data quality scorecards for critical data elements (inclusive of monitoring of relevant booking control performance) and ensuring certification of authorized data sources. The position will collaborate with a dedicated Data Lead and team for support with the end-to-end data accountabilities.
The GRR Report Owner of Country Exposure, Legal Entity, and Systemic Risk will be the key point of contact as it relates to providing relevant financial information and statistical data to regulators, responding to inquiries, and having recurring meetings, as requested, involving the Federal Reserve Bank (FRB), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp (FDIC).
The position will have a high level of visibility within the organization with opportunities to work directly on a regular basis with Executive Management and will interact very closely with other Finance and non-Finance functions throughout Citi, including the Businesses (e.g., Markets), Risk, Treasury, SEC Reporting, as well as Enterprise Technology, & Operations.
Working closely with the Controllers Transformation team, the position will be a primary owner and adopter of the multi-year transformation of Regulatory Reporting that includes the relevant US BCBS 239 Reports (FFIEC 009, FFIEC 009a, FR 2510, and FR Y-15). The position is expected to provide thought leadership on Regulatory Reporting matters (Risk-Based Capital Surcharges) and will also play a significant role in initiatives that are focused on managing the firm's G-SIB score.
Key Responsibilities
The primary roles and responsibilities of the positions will be management of a team of dedicated professionals including MBAs and CPAs, performing functions that including but not limited to: â?¢ Leading the team responsible for the U.S. regulatory filings and corresponding management reporting, Data input into quarterly earnings release, 10Q/10K disclosures including Transfer Risk, G-SIB surcharge, and Country Exposures, and the regulatory and management reporting close process. â?¢ Provide oversight and thought leadership across Regulatory Reporting governance and activities across Citigroup, including compliance with relevant policies and participation at governance forums and committees. â?¢ Working with the relevant Data Leads and team to maintain and continue to enhance data quality throughout the end-to-end data lifecycle. â?¢ Working with the relevant Risk & Controls team, maintain and continue to enhance an effective internal control's structure to satisfy the MCA Risk and Controls requirements. â?¢ Review and develop regulatory reporting training with updated regulatory guidance. â?¢ Accountable executive for internal audits, Independent Risk Management, and external reviews for RWA, Capital and GSIB reporting. Address and develop plans to remediate regulatory/auditor review findings. â?¢ Provide oversight and thought leadership across RWA, CET1 Capital and GSIB governance and activities across Citigroup, including compliance with relevant policies and participation at governance forums and committees â?¢ Develop and maintain robust governance and control requirements associated with RWA, CET 1 Capital and GSIB, including participating in the firm`s Basel Executive Steering Committee and working with the relevant Risk & Controls team to maintain and continue to enhance an effective internal control's structure to satisfy the MCA Risk and Controls requirements. â?¢ Partner with various stakeholders including the Controllers Transformation team to ensure implementation of milestones, compensating measures and strategic remediation efforts required to address relevant Consent Order, MRIA and MRAs. â?¢ Represent Citi with industry banks to lead discussions with US regulators, The Bank Policy Institute (BPI), American Bankers Association (ABA) and Institute of International Finance (IIF) on proposed rulemaking on various regulatory matters. â?¢ Monitor capital adequacy to ensure Citigroup and Citibank meet regulatory well-capitalized requirements. â?¢ Lead team and Provide review and challenge to production and reporting teams on materials and filings distributed and present to senior management, FRB, OCC, and FDIC quarterly financial results and analysis for regulatory filings including, but not limited to, FR Y-15, FFIEC 009, FFIEC 009a, and FR 2510. FFIEC 101, 102, and Pillar 3 disclosures.
Qualifications: â?¢ Minimum 15-20 years of Accounting, Controllers and Reporting experience, including US Regulatory Reporting. Strong familiarity with Regulatory rules and GAAP/SEC financial reporting.
Sound judgment to weigh issues in a balanced manner and make reasonable decisions.
Sense of urgency in implementing processes and controls and evaluating priorities; decisive, action-oriented, and practical.
Ability to develop effective and productive working relationships with a wide range of groups across Citi as well as external auditors and regulators.
Highly motivated and goal-oriented with ability to lead in a professional and challenging environment and deliver results against fast-paced deliverable deadlines.
Demonstrated ability to manage multiple priorities under demanding time frames and respond appropriately and competently to the demands of work challenges when confronted with changes, ambiguity, adversity, and other pressures.
Flexibility to work under pressure to meet changing work requirements and strict deadlines.
Outstanding presentation, communication, interpersonal and coaching skills. Ability to work with different levels of management.
Experience in people management
Previous supervisory experience, preferably in a Public Company
Functional expertise and significant product knowledge
Demonstrated leadership and management skills.
Strong change agent
Ability to work across functional areas.
Demonstrated project management skills.
Ability to develop effective and productive working relationships with a wide range of groups across Citi as well as external auditors and regulators.
Strong strategic thinking skills.
Technology savvy - Proficiency in Microsoft Office - Excel, Word, PowerPoint.
Time Type: Full time ------------------------------------------------------
Primary Location: New York New York United States ------------------------------------------------------
Primary Location Full Time Salary Range: $250,000.00 - $500,000.00
In addition to salary, Citi's offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire. ------------------------------------------------------
Anticipated Posting Close Date: Apr 17, 2024 ------------------------------------------------------
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