Head of Wealth and Retail Bank Fraud Risk Director

Citi • Wilmington, DE

1d • Onsite

About The Position

Individuals in Fraud Risk establish and manage fraud risk policies, propose strategies, and governance processes designed to minimize losses from inadequate controls and fraud threats. This includes supervision over technology operational risk, cyber risk, and fraud risk relative to fraud threats. These individuals are also responsible for the development of tools and infrastructure that support fraud monitoring and prevention, using advanced analytical and statistical skills to identify policy gaps and recommend changes to current policies. This role is crucial to the company as it fortifies against potential Fraud risks for Citi’s Wealth and Retail business, thereby protecting the company's financial stability and reputation, and contributing towards the overall business resilience and success. As a Director, this role is tasked with leading a team to execute on the below described 2nd Line of Defense mandate to provide oversight and advisory to Citi’s Wealth and Retail business.

Requirements

• 15+ years of experience, including 8-10+ years' managerial experience
• 7-10+ years in or supporting Wealth or asset management businesses, product segments, or high net worth customer bases
• Proven experience managing complex risk assessments, designing risk mitigation strategies, and overseeing compliance with risk management frameworks.
• Robust understanding of fraud risk, and broader operational risk management frameworks, industry standards, regulatory requirements, and risk mitigation practices.
• Understanding of Citi products/ services and downstream impacts of both fraud risk and broader operational risk strategy.
• Demonstrated leadership in partnering with the business and senior management to address fraud risk issues and implement solutions.
• Experience interacting with regulators and Internal Audit.
• Demonstrated track record of effectively assessing and managing competing priorities.
• Experienced risk challenger who balances risks vs. rewards aligned with corporate risk culture.
• Comfortable in dynamic environments, capable of adapting to change while maintaining focus on risk management objectives.
• Ability to influence across cultures at a senior level, understanding how to operate effectively across diverse businesses.
• Ability to think strategically and align fraud risk management with organizational goals and regulatory obligations.
• Ability to manage and drive change within the organization, ensuring risk management processes evolve to meet changing business and regulatory environments.
• Outstanding communication skills, with the ability to present complex risk matters clearly and persuasively to senior management, the Board and other stakeholders.
• Exudes strong executive presence and poise to garner credibility and confidence with stakeholders in senior-leader forums.
• Robust analytical problem-solving abilities and a high level of integrity to deal with highly confidential data.
• Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views.
• Strong analytical and strategic thinker; Demonstrated ability to make sound judgment calls on issues that can be both quantitative and qualitative in nature.
• Deep expertise across fraud typologies, for internal and external fraud types including scams, account takeover, deposit/check fraud, debit card fraud, and collusion
• Strong knowledge of NACHA rules, UCC frameworks, and payment/lending-related fraud risks
• Proven experience designing and managing fraud detection rules, alerts, and control frameworks
• Strong understanding of authentication mechanisms and fraud prevention technologies
• Demonstrated ability to analyze complex datasets, derive insights, and translate findings into control enhancements
• Strong written and verbal communication skills, with the ability to convey complex topics to both technical and non-technical audiences
• Ability to lead and execute across multiple strategic initiatives simultaneously

Responsibilities

• Establish frameworks, policies, standards and procedures to ensure consistency and alignment of fraud risk management across the organization.
• Influence and advise the business in fraud risk-related decision-making, ensuring that risk management is an integral part of business planning and daily operations.
• Oversee the development and implementation of fraud risk monitoring programs, including the creation of key risk indicators (KRIs) and dashboards to track risk exposure.
• Lead the reporting and presentation of fraud risk status, trends, and significant developments to the board, regulators, and other key stakeholders as necessary.
• Maintain awareness of regulatory changes relevant to fraud risk, ensuring that the organization's fraud risk management practices comply with all applicable laws and industry standards.
• Support internal and external audits and regulatory examinations, as applicable.
• Engage with key stakeholders at all levels of the organization to ensure that fraud risk management practices are thoroughly integrated into business processes and strategic planning.
• Leverage technological advancements and innovative approaches to continuously enhance and streamline the organization's fraud risk management processes.
• Regularly review and update the organization's fraud risk management procedures and controls to ensure their effectiveness and relevance given evolving fraud schemes and tactics.
• Inspires people with a compelling and aspirational future vision; demonstrates optimism when leading the organization through challenges and uncertainty.
• Creates a highly resilient organization in which people persist through challenges, transparently communicate and own mistakes, and actively apply learnings to make Citi better.
• Establishes a safe environment where people candidly communicate opinions, seek diverse opinions, and actively debate decisions.
• Fosters a culture that rewards teams to pursue breakthrough ideas and improve business results; proactively invests resources in innovation initiatives.
• Creates a culture that strongly encourages teams to prioritize enterprise success over individual agendas and do the right thing for the organization.
• Boldly creates focus by aligning critical priorities across businesses, functions, and regions; eliminates nonessential work that could distract the organization from executing key priorities.
• Champions innovative ways to manage risk through streamlining processes and building common methods.
• Creates and reinforces a culture of exceptional controls that support client satisfaction and operational effectiveness.
• Proactively solves systemic enterprise challenges by investing time and resources to gather cross-enterprise data; builds sustainable solutions that fully address the root causes of issues.
• Creates a performance culture of high expectations that inspires people to continuously deliver excellence and exceed company goals.
• Energizes and reinforces an ethical environment where doing the right thing for clients and Citi is expected in every decision and action.
• Establishes a culture where teams actively cultivate collaborative partnerships across organizational boundaries; creates synergies that deliver added value for Citi.
• Champions strategies for leveraging Citi’s resources to have a positive impact on society; demonstrates deep understanding of client and community needs.
• Proactively implements systemic solutions to promote the well-being and engagement of all employees; embodies work-life balance through their words and actions and actively encourages others to do the same.
• Leads efforts to position Citi as an attractive place to work for diverse communities; cultivates an inclusive culture in which all individuals are valued and feel a strong sense of belonging.
• Leads with compassion and reinforces a culture in which people assume best intentions of others; treats others respectfully; listens, understands, and appreciates the unique challenges faced by others.
• 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, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards.

Benefits

• medical, dental & vision coverage
• 401(k)
• life, accident, and disability insurance
• wellness programs
• paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees