Investment Products Risk Manager - Vice President

Background

Investment Products Risk (IPR) is an independent risk management function in Citi responsible for managing the risks associated with the manufacture and distribution of investment and insurance products and services to the bank's retail clients. Investment products include products such as mutual funds, bonds, listed equities, ETFs, structured products, derivatives, alternative investments, and other capital market products. Insurance products include credit/creditor, life and general insurance products.

IPR is also responsible for management of the two Distribution Product Approval Committees (DPACs) that review new investment and insurance product and service proposals from Citi's retail businesses.

DPAC: Responsible for reviewing and approving investment products and services manufactured and/or distributed by Citi to retail investors.

IDPAC: Responsible for reviewing and approving insurance/ add-on products and services distributed by Citi to retail clients.

Objective and Job Description

The objective of the IPR Risk Manager is to support a wide range of ongoing risk management and monitoring activities of IPR and assist with the management of the DPACs. The candidate is expected to have in-depth knowledge of investment and/ or insurance products, markets, and issues that impact our clients and the firm. IPR professionals are expected to keep abreast of developments in the financial markets, wealth management and insurance industries, and the macroeconomic environment. The candidate will be involved in key aspects of investment/ insurance products and related businesses, including product approval, performance analysis and ongoing monitoring.

The IPR Risk Manager will report into the Asia Head of IPR. IPR is part of the Product Governance team under the Risk Governance organization. The Risk Governance function within the Chief Operating Office of Independent Risk Management is responsible for the design and implementation of firm-wide frameworks and practices that are integral and fundamental to Risk Management within Citi. The Risk Governance group is divided into 8 areas: 1) Risk Frameworks 2) Risk Policies 3) Product Governance 4) Risk Identification 5) Risk Controls and Issue Management 6) Regulatory Affairs, Governance Committees & Quality Assurance 7) Strategic Analysis & Cross-Risk Initiatives and 8) Risk Headcount and Budget Management.

Responsibilities:

• Responsible for assisting with the management and coordination of the end-to-end activities of the Asia DPACs.
• Engage with businesses and stakeholders across different businesses, geographies, and functions to review, assess and advise on the submissions to the DPACs.
• Assess the risks associated with new investment/ insurance products and providers, based upon product exposures and attributes, and evaluate whether they deliver outcomes that are fair to Citi clients.
• Represent IPR at designated product and governance committees/ forums and demonstrate both a credible challenge to and strong influence on covered businesses.
• Engage with regional and country product teams and regional control functions in overseeing insurance/ investment activities, demonstrating particular consideration for the firm's reputation and safeguarding Citi, its clients and assets, by driving compliance with applicable laws, rules and regulations, ensuring adherence to Citi's policies and standards, applying robust risk management oversight over business conduct and practices, and escalating risk and control issues with transparency.
• Evaluate risk tools in place to effectively identify, address and monitor risk issues with appropriate escalation. Enhance these tools with risk and business participation, as needed.
• Participate in and contribute to regulatory matters as part of business reviews and regular firm updates.

Development Value

Gain a broad understanding of Citi's retail businesses, across Global Consumer Bank and Citi Private Bank, and exposure to other product approval committees across Citi. The developmental opportunities include:

• Unparalleled organizational exposure and opportunities to interact with senior members of Citi businesses and control functions;
• Develop an understanding of Citi's risk and control areas and their key issues and considerations;
• Learn the key issues associated with developing new products/businesses and how to address them; and
• Gain insight into franchise risk management issues and regulatory considerations.

Qualifications:

• 8 + years' work experience
• Master's degree. Advanced degree in business, finance, law or economics desirable
• Extensive exposure to investment and/ or insurance products
• CFA and/ or other financial professional designations would be an advantage

Knowledge and Experience:

• Excellent communication skills - oral and written presentation; proficiency in Microsoft Office tools (Word, PowerPoint, Excel)
• Strong work ethics; takes pride of ownership of deliverables and the activities of his/her team
• Sound ethical and moral compass with the ability to make difficult decisions and communicate/document those decisions professionally
• Intellectually curious; requires use of conceptual and innovative thinking; ability to see the "big picture" without losing attention to detail
• Flexibility in thought and approach; able to introduce creative solutions and enact reasonable judgement to complex issues that have no "right" answer
• Attuned to macroeconomic, industry and regulatory events/trends
• Quantitative and analytical capabilities; modelling capabilities
• Ability to manage and influence divergent views across the organization in the absence of direct authority
• Ability to connect with people across geographies and functions and create and maintain strong relationships
• Open to expanding responsibilities outside of direct experience

Job Family Group:
Risk Management

Job Family:
Investment Product Risk Mgmt

Time Type:

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