Cross-disciplinary Controls Sr. Lead Analyst - C14

Citigroup · Mexico City

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The role sits within the Markets COO organisation. We are a dynamic, global and diverse organization focused on controls and regulatory management for Markets Operations, which has a presence in over 60 Countries; covering all post execution Operations teams including product aligned Middle Office groups, Settlements, Margin, Asset Servicing, Listed Derivative & Commodities Operations. We support an extensive range of Capital Markets products and services including Fixed Income (FX, Rates, Credit, Muni, Cash and Derivatives) where Citi is consistently a dominant top 3 player in the market, Equity (Cash, Derivatives, Prime Brokerage, Futures, Listed Derivs, FXPB) where Citi has a significant growth program to continue to build out its capabilities and services; and Syndicates where we support both FI and EQ new issues and IPOs.

Our Operations groups are core to the success of the Markets business and have a significant impact across the lifecycle of a Trade. We partner extensively with a range of internal stakeholders including Front Office Sales and Trading Desks, Compliance, Legal, Finance and HR; alongside having significant interaction with our external client base, playing a key role in the overall client experience. Markets Operations have a Client Relationship Group dedicated to overseeing the group service performance and strategic partnership for our top tier client base, where we play a key role in supporting our global clients to ensure they have a first-class experience when doing business with Citi.

Market Ops Digitization and Implementation group works alongside our Operations teams delivering automation solutions to solve operational challenges. We partner with Citi’s innovation labs to drive optimization and overall play a pivotal role in enabling us to transform to achieve our target operating model.

Our Technology partners develop and implement a wide range of applications that support the Operations, Change, Design, and Implementation groups in providing innovative products and solutions. We have re-imagined how to provide technology and service in our domain through the alignment of our team vision, culture, and aggressive retirement plan for legacy applications and adoption of a micro-based containerized cloud environment. We encourage our people to create, explore and be adventurous whilst taking measured risks, adopting safe practices to protect the firm. Data lineage and optimization is core to how we develop our eco system. We are growing our capabilities using artificial intelligence, natural language processing and machine learning. 

Our roles entail ensuring we operate in a robust control environment, whilst in a fast-paced workplace.  We comply with global regulations and internal policies and adopt a proactive approach to identifying opportunities to reduce risk through the continuous evaluation of our controls; to protect our clients, the firm and our reputation.

We work closely with our external global peers, partners, and regulators, and play an integral part in leading an agenda at the forefront to optimise and streamline processes and drive strategy across our industry. 

This is a newly created role where the candidate will lead and contribute to initiatives in LATAM across regulatory engagement, regulatory quality assurance, audit/reg exam and regulatory framework governance across teams in Markets Operations.

Specifics of the role include:

• Execute regulatory engagement strategy for Market Ops across teams in LATAM in partnership with SMEs/leadership team
• Evaluate teams’ compliance with regulatory reporting framework through both broad-based and targeted reviews
• Liaise with the SMEs to agree on required remediation, monitor completion of actions and adequacy of remediation to mitigate the identified risk
• Aid adoption of regulatory framework governance across teams in Market Operations
• Produce management reporting on issue management assurance reviews
• Co-ordinate responses for regulatory exams/audits as needed
• Investigate issues/breaches occurring in the region and provide counsel on remediation plans

The role provides a range of opportunities to impact and influence the overall target state design and implementation of our strategic transformation priorities including:

• Implementing best practices and global consistency, simplifying & standardizing processes, and flows
• Opportunity to learn and acquire expertise across a range of products and asset classes
• Significant interaction with a wide range of stakeholder groups and senior management to help drive the agenda

Key Responsibilities:

Regulatory Exams and External Reviews

• Focal point for Regulatory Exams and External Audits.
• Support Operations team during the reviews cycle.
• Validation of the information prepared by Operational Units, aiming to ensure that are aligned with the information required.
• Prepare response letters and manage deliverables approvals.
• Assist in the implementation of remediation plans defined (if applicable) for regulatory and external reviews.
• Communicate results to Senior Management.

Regulatory Interactions

• Manage and review the communications received from Local Regulators (correspondences, deliverables, meetings, etc.).
• Coordinate any interaction with the Local Regulators initiated by Operations.
• Support Operations team during the interaction cycle and assist in the implementation of remediation plans defined (if applicable) related to the regulatory interaction.
• Acts as the record initiator and record manager in RET, providing monthly status of the open regulatory interactions.
• Prepare response letters related to the interactions recorded, in agreement with the Ops Units, ICRM and Legal.

Internal Audit (RAUP)

• Focal point for RAUP reviews.
• Support Operations team during the RAUP reviews cycle and assist in the implementation of remediation plans defined (if applicable) for those reviews type.
• Proactive Reviews for RAUP reviews.
• Internal Audit Readiness training for RAUP reviews.
• Support Ops units to meet SII commitments for RAUP reviews.

Regulatory Compliance

• Interact and share relevant control topics with Senior Management.
• Focal point for Regulatory Impact matters.
• In conjunction with ICRM, Legal, Business / Product and Operations perform the applicability / impact analysis of local regulations new requirements or modifications and follow up in the implementation of action plans when required.
• Coordinate with Operations all the efforts related to implementing the key initiatives related to Regulatory Compliance.
• Support Local regulatory Inventory completeness and integrity.
• Support E2E Local Regulatory Certification Process – Permanent Admission Requirements (Main reviews and related initiatives / projects)

Policy Compliance

• Interact and share relevant control topics with Senior Management.
• Focal point for Policy Compliance.
• Oversight of Policy Compliance, (Key Policies TPM, Fraud, Information Barriers, Sanctions, MCA, etc.) as key policies review and implementation.
• Support Policy Inventory Maintenance, including minor documents.

Organizational Oversight:

• Maintain a culture and environment where processes, risks and controls are continually monitored, and potential risks escalated on a timely basis
• Developing an effective control framework that fully meets Audit, Compliance and Regulatory requirements; contributing to the delivery of periodic presentations to external regulators as required

Transformation to Target State:

• Review our suite of controls and suggest change to uplift the risk profile throughout the Organisation and its products
• Drive standardization of controls across regions and suggest opportunities for harmonisation across teams
• Implement plans and execute vs milestones ensuring we meet deadlines and regulatory commitments
• Ensure our infrastructure and tools meet the needs to manage risk. Develop and suggest operating model changes to pivot Operations towards digitization and a robust control environment

Story Telling:

• Help drive comprehensive risk KPIs/Metrics by Legal entity for senior executive consumption – for each product and function, working in close partnership with the product Leaders
• Analyse risk metrics for trends and lessons learnt
• Partner with the Ops product leaders to understand and update process flows, challenges and potential solutions and present opportunities to Senior Management
• Articulate solutions vs current state for digitization, automation, low code solutions and straight through processing

Skills and Qualifications:

• BS/BA degree or equivalent work experience
• Relevant experience in regulatory reporting/review/quality assurance, related operations role with commensurate product knowledge and/or risk/audit experience
• Ability to read/write/speak in Spanish
• Excellent verbal, written, and presentation skills. In particular, demonstrated ability to effectively communicate technical and business issues and solutions to multiple organizational levels internally and externally as needed to support strategic goals.
• Strong risk management and control mindset
• Self-reliant, good problem solver, results oriented
• Strong awareness of both external and internal best practice perspectives, maintaining a balanced and fresh viewpoint.
• Demonstrated ability to succeed in a complex organization where the ability to discover and internalize diverse stakeholder goals is critical to brokering solutions that are in the best interest of Citi as a whole 

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