Head of Controls - Wealth, Managing Director

Citi • New York, NY

1d

About The Position

Reporting to the Wealth COO with a matrixed reporting to the Head of Citi Controls, the Head of Controls for Wealth will be a key leadership role responsible for establishing, implementing, and overseeing the control framework across the entire Wealth organization. This individual will drive a robust and proactive risk and control culture, ensuring adherence to regulatory requirements, internal policies, and best practices. The role requires a strategic thinker with deep expertise in financial services controls, risk management, and wealth management operations. The successful candidate will lead multiple first-line-of-defense control teams, providing full management responsibility for people, budget, and planning. This role is critical to ensure risk profiles within the Wealth businesses are fully understood and managed appropriately. The incumbent will build trusted relationships with Business Leaders, Process Owners, and 2nd/3rd line of defense partners, while also establishing credible contact for Regulators. Key Responsibilities: Strategic Controls Leadership: Define and execute the overall control strategy for the Wealth division, aligning with global risk appetite and business objectives. Integrate the Retail Bank controls team into the wider Wealth controls framework and teams Lead the design, implementation, and continuous enhancement of a comprehensive and effective control framework across all Wealth products, services, and operations. Provide strategic guidance on emerging risks, regulatory changes, and industry best practices in control management. Provide vision, strategy, and leadership for strengthening the control environment for the Wealth business group supported. Interpret and implement Operational Risk Management policy and work with business process owners to ensure consistent implementation within functions. Risk & Control Management: Oversee the identification, assessment, monitoring, and reporting of operational, compliance, and strategic risks within Wealth. Ensure the effectiveness of controls through ongoing monitoring, testing, and periodic reviews. Drive remediation efforts for control deficiencies, audit findings, and regulatory issues, ensuring timely and sustainable resolution. Develop and maintain key risk indicators (KRIs) and key control indicators (KCIs) to provide early warning of potential control breakdowns. Identifies and designs strong business metrics that provide line of sight to business control performance and address monitoring results. Oversees and provides first-line challenge of issue mitigation, identification of root cause issue mitigation for significant operational breaks, and makes recommendations for future prevention; provides governance to ensure remediation and improvements. Accountable for all operational and compliance risk categories, including AML/KYC and Sanctions risks, and corresponding policy adherence within Wealth roles as appropriate. Engages and contributes to the overall roll-up of associated regional-level risk management activities. Regulatory Compliance & Governance: Ensure Wealth's control environment meets all relevant regulatory requirements (e.g., FINRA, SEC, OCC, UDAAP) and internal policies. Act as a primary liaison with internal audit, external auditors, and regulatory bodies on control-related matters. Lead preparation for and response to regulatory examinations and internal audits. Chair or actively participate in relevant governance committees (e.g., Business Control Committees). Establishes and reinforces lines of responsibility to execute audits, maintain audit readiness, and manage internal reviews. Leads engagement in Quarterly Risk Reviews and approves MCA ratings and annual risk assessment. Compiles Evidence and Materials for Quarterly Risk Assessment / ARA Reviews. Executes processes that will deliver on the expectations set by Citi's Regulators. Team Leadership & Development: Build, lead, and mentor a high-performing team of control professionals, fostering a culture of excellence, accountability, and continuous improvement. Develop talent within the controls function, providing opportunities for growth and professional development. Manage resource allocation to effectively support business priorities and control objectives. Proven track record of attracting, retaining, and motivating world-class diverse talent and building diverse teams. Stakeholder Engagement & Collaboration: Partner closely with Wealth business heads, product managers, operations, technology, compliance, and legal teams to embed controls into daily operations and new initiatives. Communicate effectively with senior management and the Wealth COO on the state of the control environment, significant risks, and remediation progress. Represent Wealth Controls in cross-functional forums and initiatives. Integrate with Global Functions, including Independent ORM, Risk, Compliance, Audit, and Legal, to identify and mitigate cross-business risks. Process Improvement & Automation: Champion initiatives to streamline control processes, enhance efficiency, and leverage technology and AI for automation where appropriate. Promote the use of data analytics and advanced tools to improve control monitoring and effectiveness.

Requirements

• Bachelor's degree required; advanced degree preferred.
• 15+ years' experience in risk management, compliance, audit, or control functions within the financial services industry, with a significant focus on Wealth Management and/or Retail Banking.
• Proven leadership experience managing multiple large teams and complex control programs.
• Extensive knowledge of U.S. and international financial regulations relevant to wealth management (e.g., FINRA, SEC, OCC, MiFID II).
• Demonstrated track record of successfully implementing and enhancing control frameworks.
• Strategic Vision: Ability to develop and articulate a clear control strategy aligned with business goals.
• Risk Acumen: Deep understanding of operational risk, compliance risk, and control principles.
• Leadership: Strong ability to lead, motivate, and develop a diverse team. Full management responsibility for multiple teams.
• Communication: Exceptional written and verbal communication skills, with the ability to articulate complex control concepts to diverse audiences, including senior executives and regulators. Excellent negotiation skills are required, both internally and externally.
• Influence & Collaboration: Proven ability to build strong relationships and influence stakeholders across all levels of the organization, including cross-functional teams and senior leaders.
• Analytical Thinking: Strong analytical and problem-solving skills, with attention to detail.
• Decision Making: Proven track record and accountability in making quick decisions that have an immediate impact on business financials.
• Project Management: Demonstrated ability to manage multiple projects simultaneously and deliver results under pressure. Ability to balance strategic priorities with tactical actions.
• Integrity: Unquestionable integrity and ethical conduct.

Responsibilities

• Define and execute the overall control strategy for the Wealth division, aligning with global risk appetite and business objectives.
• Integrate the Retail Bank controls team into the wider Wealth controls framework and teams
• Lead the design, implementation, and continuous enhancement of a comprehensive and effective control framework across all Wealth products, services, and operations.
• Provide strategic guidance on emerging risks, regulatory changes, and industry best practices in control management.
• Provide vision, strategy, and leadership for strengthening the control environment for the Wealth business group supported.
• Interpret and implement Operational Risk Management policy and work with business process owners to ensure consistent implementation within functions.
• Oversee the identification, assessment, monitoring, and reporting of operational, compliance, and strategic risks within Wealth.
• Ensure the effectiveness of controls through ongoing monitoring, testing, and periodic reviews.
• Drive remediation efforts for control deficiencies, audit findings, and regulatory issues, ensuring timely and sustainable resolution.
• Develop and maintain key risk indicators (KRIs) and key control indicators (KCIs) to provide early warning of potential control breakdowns.
• Identifies and designs strong business metrics that provide line of sight to business control performance and address monitoring results.
• Oversees and provides first-line challenge of issue mitigation, identification of root cause issue mitigation for significant operational breaks, and makes recommendations for future prevention; provides governance to ensure remediation and improvements.
• Accountable for all operational and compliance risk categories, including AML/KYC and Sanctions risks, and corresponding policy adherence within Wealth roles as appropriate.
• Engages and contributes to the overall roll-up of associated regional-level risk management activities.
• Ensure Wealth's control environment meets all relevant regulatory requirements (e.g., FINRA, SEC, OCC, UDAAP) and internal policies.
• Act as a primary liaison with internal audit, external auditors, and regulatory bodies on control-related matters.
• Lead preparation for and response to regulatory examinations and internal audits.
• Chair or actively participate in relevant governance committees (e.g., Business Control Committees).
• Establishes and reinforces lines of responsibility to execute audits, maintain audit readiness, and manage internal reviews.
• Leads engagement in Quarterly Risk Reviews and approves MCA ratings and annual risk assessment.
• Compiles Evidence and Materials for Quarterly Risk Assessment / ARA Reviews.
• Executes processes that will deliver on the expectations set by Citi's Regulators.
• Build, lead, and mentor a high-performing team of control professionals, fostering a culture of excellence, accountability, and continuous improvement.
• Develop talent within the controls function, providing opportunities for growth and professional development.
• Manage resource allocation to effectively support business priorities and control objectives.
• Proven track record of attracting, retaining, and motivating world-class diverse talent and building diverse teams.
• Partner closely with Wealth business heads, product managers, operations, technology, compliance, and legal teams to embed controls into daily operations and new initiatives.
• Communicate effectively with senior management and the Wealth COO on the state of the control environment, significant risks, and remediation progress.
• Represent Wealth Controls in cross-functional forums and initiatives.
• Integrate with Global Functions, including Independent ORM, Risk, Compliance, Audit, and Legal, to identify and mitigate cross-business risks.
• Champion initiatives to streamline control processes, enhance efficiency, and leverage technology and AI for automation where appropriate.
• Promote the use of data analytics and advanced tools to improve control monitoring and effectiveness.

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level