In-Business Risk Assistant Vice President, Volcker Rule Office

Citi • Getzville, NY

41d

About The Position

Our Markets business serves corporates, institutional investors and governments. We have an unmatched ability to meet clients' needs, thanks to our underwriting, sales and trading and distribution capabilities across Commodities, Equities, Rates, Spread Products and Currencies.
The candidate will be a key member of In-Business Risk in Citi Global Markets. In-Business Risk is mandated to establish and maintain a robust first line of defense designed to minimize risk within the business including leading critical control initiatives to mitigate risk in Trading, Financial Crimes and Conduct while ensuring strong governance to measure, monitor, manage and escalate key risks.
The Volcker Rule Office (VRO) is a first line function which provides overall coordination and monitoring in support of Citi’s Volcker Compliance Program. Responsibilities include monitoring and maintenance of the central control framework as well as coordinating engagement with Citi’s lines of defense. The VRO works closely with the Businesses, Independent Risk Management, Compliance, Legal, Finance, and others. The team oversees operation of key processes and controls for the firm including the following areas: Desk structure, Desk mandates, trading / hedging strategies, products, limits, covered funds and metrics reporting to the Volcker Regulators. As a member of the Volcker Rule Office, you will deliver integrated solutions supporting Citi’s global Volcker Rule compliance program among other regulatory deliverables.
Responsibilities and priorities will reflect needs of the organization and will evolve over time, however the following are some of the specific activities expected of this role:

Requirements

• Bachelors degree; 5-8 years of experience
• Previous Volcker Rule experience
• Proficiency in diagnosing root causes and developing corrective actions.
• Comprehensive knowledge of operational and compliance risks.
• Deep awareness and understanding of the industry's laws, rules, and regulations.
• Proven track record in evaluating business changes and managing risk exposures.
• Experience in monitoring control breaches and leveraging lessons learned for process improvements.
• Demonstrated experience in implementing governance mechanisms to manage risk profiles.
• History of enforcing compliant standards and procedures in risk management.
• Working proficiency in using software for risk assessments, data analysis, and reporting.
• Skills in leveraging statistical tools for analyzing risk-related data and drawing useful insights.
• Ability to create clear, concise, and comprehensive documents, reports, and procedural manuals related to risk management.
• Proficiency in Excel for sorting, filtering, and analyzing risk management data.
• Skills in managing databases for storing and accessing risk-related data.

Responsibilities

• Responsible for the successful delivery of projects and BAU activities in line with overall Markets In Business Risk book of work on the Volcker Rule Program.
• Partner with key stakeholders to monitor changes in business activity. Assess any Volcker implications and support the business in ensuring Volcker compliance requirements are met on an ongoing basis. Key subject areas include but are not limited to Trading Desk Mandates and Risk Mitigating Hedging effectiveness monitoring.
• Project manage and deliver key changes across a number of Trading Desks and Business Units, engaging functions including Risk, Legal, Finance and Compliance.
• Partner with Technology teams to develop sustainable solutions supporting the Volcker Program including enhanced controls and streamlining/automation initiatives.
• Identify, prioritize and proactively manage Volcker compliance dependencies, risks, exceptions and issues.
• Represent the Volcker Rule Office in communications with internal control functions regarding Annual Volcker Independent Testing, Internal Audit reviews, and assist in external regulatory examinations of the VRO to demonstrate ongoing compliance with the Volcker Rule.

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