Wealth and Retail Fraud Risk 2nd LOD, Senior Vice President

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.

Requirements

• 10+ years of experience
• 5-7+ years in or supporting Wealth or asset management businesses, product segments, or high net worth customer bases
• Robust understanding of fraud risk, and broader operational risk management frameworks, industry standards, regulatory requirements, and risk mitigation practices.
• Demonstrated leadership in coordinating with business units and senior management to address fraud risk issues and implement solutions.
• Demonstrated track record of effectively assessing and managing competing priorities.
• Experience interacting with Regulators and Internal Audit.
• Previous experience working on complex firm-wide projects or processes.
• Effective leadership ability to credibly challenge and influence stakeholders.
• Comfortable in dynamic environments, capable of adapting to change while maintaining focus on risk management objectives.
• Ability to think strategically and align fraud risk management with organizational goals and regulatory obligations.
• Excellent communication skills, with the ability to interact effectively at all levels, develop strong partnerships across the organization, and present complex information clearly to senior management and stakeholders.
• Compelling leadership qualities with ability to credibly challenge the 1st line and influence stakeholders.
• Effective stakeholder management skills, with the ability to understand drivers and overcome barriers.
• Dynamic negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views.
• Robust analytical problem-solving abilities and a high level of integrity to deal with highly confidential data.
• Deep expertise across fraud typologies, for internal and external fraud types including scams, account takeover, deposit/check fraud, debit card fraud, and trading fraud.
• 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.
• Experience balancing fraud risk mitigation with client experience and business objectives.

Responsibilities

• Oversee the application of fraud risk policies, tools, and governance processes, creating sustainable solutions for minimizing losses resulting from failed internal processes, inadequate controls, and emerging risks related to fraud.
• Design and oversee the implementation of robust control measures to mitigate identified fraud risks.
• Independently assess fraud risks within the business, ensuring that the level of exposure to potential fraud risk is within the organization's acceptable risk appetite.
• Review and challenge the effectiveness of risk mitigation strategies and control measures implemented by the 1st line of defense.
• Build and maintain effective relationships with Business partners, establishing credibility by understanding the business, their needs, strategic priorities, and challenges.
• Provide strategic fraud risk advisory and support to the business and other stakeholders. Guide them in making informed decisions that consider the potential impacts and risks of fraud.
• Partner with key stakeholders to drive fraud risk management strategy in alignment with organizational objectives and risk appetite.
• Support independent oversight and assurance over the bank’s broader operational risk management frameworks, ensuring compliance with regulatory requirements and internal policies.
• Support internal and external audits and regulatory examinations, as applicable.
• Report and escalate significant risk issues and breaches to executive management.
• Partner with Sr. management on the reporting and presentation of fraud risk status, trends, and key developments to the board, regulators, and other key stakeholders, as applicable.
• Foster a culture of fraud risk management awareness and accountability in the organization, ensuring that employees understand their roles and responsibilities in preventing, detecting, and reporting fraudulent activities.
• Is an enthusiastic and early adopter of change; takes ownership for helping others see a better future and stay positive during uncertainty.
• Demonstrates and inspires curiosity in seeking new ways to overcome challenges; actively applies learning from failures.
• Challenges self and others to seek out and communicate alternative views even when unpopular; welcomes diverse ideas to improve outcomes.
• Acts as a change catalyst by identifying and helping others see where new ideas could benefit the organization.
• Proactively seeks to understand and act in alignment with organizational decisions; helps others prioritize team and enterprise success over their own personal agenda.
• Focuses on highest-priority work aligned to business goals; helps others effectively manage competing priorities.
• Proactively identifies opportunities to streamline work; creates process improvements that enhance efficiency for self and the team.
• Takes personal accountability for escalating, identifying, and managing potential risk; implements controls that enhance the client experience and operational effectiveness.
• Anticipates problems and proactively identifies solutions that address the root causes and result in meaningful improvements.
• Sets high expectations and invests the necessary effort to deliver excellence and exceed performance goals.
• Role-models and helps others to do the right thing for clients and Citi in all situations, even when difficult.
• Engages key stakeholders early and often and actively looks for opportunities to improve collaboration in achieving common goals.
• Proactively seeks out opportunities to volunteer in Citi programs that support the community; advocates for solutions that meet the needs of Citi’s clients and the community.
• Enthusiastically promotes the unique needs and preferences of colleagues; makes active commitment to help colleagues achieve balance, well-being, and development.
• Leverages varied networks to recruit diverse talent; advocates for colleagues with diverse skillsets, styles, and experiences to gain career opportunities.
• Empathetically listens and understands others’ positions before acting on issues; works to amplify voices that are minimized in the workplace.
• 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: Senior
• Number of Employees: 5,001-10,000 employees