Third Party Risk Oversight Officer, Vice President (Hybrid)

Citi • Schaumburg, IL

26d • Hybrid

About The Position

The Third Party Risk Oversight Officer, Vice President role is a senior-level position responsible for owning and enhancing Citi’s Third-Party Risk Oversight capabilities supporting consumer credit risk. The role provides strategic direction across bureau data acquisition, permissible purpose governance, contract oversight, and regulatory compliance related to credit reporting and bureau usage. This leader ensures all credit bureau engagements operate within Citi’s risk appetite, meet rigorous regulatory expectations (e.g., FCRA, ECOA, UDAAP), and support high‑quality credit decisioning, portfolio management, and customer experience. The VP partners closely with Credit Risk, Compliance, Legal, Procurement, Technology, Data Governance, and Operations to ensure bureau relationships are well controlled, resilient, and aligned with Citi’s credit strategy.

Requirements

• 6-10 years of experience in Risk management, third-party risk, vendor risk/management or credit risk with a large financial institution.
• US banking regulatory expectations
• Prior experience operating with consumer credit risk or closely related risk domains
• Extensive background in managing critical suppliers and regulated third-party relationships.
• Experience acting as a risk/process oversight owner or leading risk platforms, frameworks, or governance models.

Nice To Haves

• Bachelor’s degree in related fields.
• Working knowledge of Vendor relationship management / Vendor risk management/ TPRO highly preferred.

Responsibilities

• Set and drive the strategic roadmap for Credit Bureau Management (CBM) tools, vendor oversight processes, and bureau data controls.
• Own the long‑term vision for bureau and credit‑data oversight, including integration capabilities, data quality controls, bureau governance workflows, and reporting frameworks.
• Translate regulatory guidance (e.g., FCRA) and credit risk requirements into actionable user stories, control enhancements, and bureau‑related process improvements.
• Prioritize bureau‑related initiatives balancing regulatory commitments, credit strategy needs, and enterprise risk impacts.
• Oversee risk assessment lifecycle for third-party vendors, including: Inherent risk assessments, Due diligence (financial, operations, cyber, data privacy, model risk) Ongoing monitoring and periodic reviews
• Ensure critical and high- risk vendors undergo enhanced oversight and governance
• Maintain a risk-tiered vendor inventory aligned with consumer credit risk exposure.
• Oversee contract terms with credit bureaus and credit‑data providers to ensure inclusion of: Data accuracy controls Permissible purpose obligations Audit and access rights Data security, confidentiality, and fair use SLA/KPI performance expectations
• Govern contract renewals, amendments, and negotiating strategies (e.g., pricing tiers, volume agreements, innovation clauses).
• Partner with Legal, Compliance, and Procurement to remediate contractual gaps or bureau‑related risk exposures.
• Oversee bureau and data‑provider performance against SLAs, KPIs, data accuracy metrics, and error rates.
• Identify systemic data quality issues, matching failures, or bureau response inconsistencies and lead enterprise corrective actions.
• Govern escalation of bureau data breaches, quality defects, or service disruptions through risk committees and executive forums.
• Ensure all bureau‑related issues and corrections are tracked, validated, and closed in alignment with regulatory expectations.
• Lead compliance with all bureau‑related regulations, state-level consumer reporting requirements, and Citi risk standards.
• Serve as a senior point of contact for internal audit, external audit, regulatory exams, and consumer‑reporting reviews.
• Maintain defensible documentation for bureau decisions, vendor assessments, contracts, data accuracy validation, and governance approvals.
• Lead remediation execution for regulatory findings related to bureau oversight, data furnishing, or consumer reporting.
• Represent Bureau Management in critical risk committees, credit governance forums, and enterprise third‑party oversight bodies.
• Build strong partnerships with: Credit Risk leadership Compliance (FCRA/UDAAP) & Legal Data Governance & Data Quality Procurement & Vendor Management Technology & Consumer Operations
• Deliver transparent reporting on bureau performance, data accuracy trends, and bureau‑related risk insights to senior leadership.
• Communicate bureau‑related risk trends, emerging issues, and strategic recommendations across the organization.
• Oversee bureau‑specific KRIs/KPIs such as Hit rates & match rates; Data quality exceptions; Bureau response times; Furnishing accuracy measures
• Drive automation, tooling enhancements, and data validation solutions to reduce manual bureau‑related risk processes.
• Ensure end‑to‑end bureau data lineage and control effectiveness across all ingestion and usage points.
• Benchmark Citi’s credit bureau management practices against industry leaders, regulatory guidance, and evolving bureau capabilities.
• Drive modernization of bureau integration, portfolio monitoring logic, and alternative‑data usage.
• Enhance scalability and resilience as Citi expands into new lending products, digital channels, fintech partnerships, and alternative credit‑data ecosystems.

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
• Number of Employees: 5,001-10,000 employees