Citi Hiring for Citibank N.A. UAE Chief Risk Officer Job at Dubai Full Time

Citibank N.A. UAE Chief Risk Officer

This role has primary responsibility for the day-to-day Risk Management for Citibank N.A. UAE’s onshore legal vehicle.

The role is the primary interface to the UAE regulators Citibank N.A. UAE Branch for the Risk organization. Experience in operating in a highly regulated environment is a key requirement.

Chairperson of the Risk Management Committee covering all risk stipes (Credit, Market, Liquidity, Strategic, Reputational and Operational), Legal and Compliance. Reporting into the EMEA CRO

Job Background / Context:

This role reports into the EMEA CRO and is based in the UAE. The UAE CRO is a core member of the UAE senior leadership team and will chair the UAE Risk Management Committee (RMC) in addition to being a permanent member of the Country Coordinating Committee (CCC), Asset and Liability Committee (ALCO) and Business Risk and Control Committee (BRCC) governance forums.

The role is responsible for overseeing the Credit, Market, Liquidity, Strategic, Reputational and Operational risks within the UAE legal entity; and, to ensure these risks remain within approved risk appetite and risk limits. The UAE CRO is responsible for management and oversight of the Risk Governance Framework for the legal entity and all the Risk stipes will report into the CRO.

The role is responsible for managing the regulatory risk management relationship and is a direct interface with the UAE regulators as well as participating in the industry and central bank CRO forums. Responsibilities include ensuring compliance with key regulatory deliverables, such as the Risk Governance Framework, Risk Appetite Statement, ICAAP and Stress Testing.

Close cooperation is required with other Global and Regional Risk teams, Finance, Treasury, Compliance, Legal and Business (first line of defense) teams and ability to manage via influence is a prerequisite.

Key Responsibilities:

The CRO plays the pivotal role in leading and protecting all risks related to the Citibank N.A. UAE legal entity.

• Chairs and leads Risk’s participation in Citibank N.A.’s UAE legal entity management, including Risk Committee, governance and the relevant decision-making forums.
• Establishes new and strengthens on-going relationships with a network of key stakeholders, partnering with senior colleagues (Market, Credit, Liquidity, & Operational Risk as well as Finance CRO), inspiring with confidence to provide insight and drive implementation of the strategic initiatives.
• Serve as the liaison with regulatory examiners, Citigroup (IA), and external auditors on all significant Risk Management related issues;

• Participate in key regional and legal entity forums;
• Manage and centrally co-ordinate Citibank N.A’s UAE Risk Management interactions with key external constituencies, including regulatory, other official institutions and rating agencies;
• Ownership for compliance with all Risk-related regulations applicable to the legal entity. Oversees the legal entity risk management framework on a day-to-day basis, including the necessary support infrastructure;
• Responsible for the Risk component of collective regulatory exercises, inclusive of the ICAAP and Stress Testing;
• Responsibility for managing the firm’s internal stress-tests and ensuring the accuracy and timeliness of information provided to the Central Bank of the UAE and other regulatory bodies for the purposes of stress-testing.

• This role has significant governance and control accountabilities, ensuring best in class governance and controls to effectively manage and govern the legal vehicle

• All risk-related regulations applicable ensuring common purpose across the franchise
• Lead and promote the second line of defence with representation and contribution for Risk management on various committees, including ALCO, BRCC, CCC and RMC
• As the primary contact, maintain strong and effective relationships with the UAE regulators whilst ensuring regulatory deliverables are provided in a timely, high quality manner
• Ownership and co-ordination of regulatory information requests relating to Risk Management
• Drive continuous improvement and enhancement of policies and procedures, and robust governance processes across both legal vehicles
• Proactive engagement in organisational discussions to deliver priorities for the UAE franchise.

Development Value:

This role will provide unique visibility, cross-functional and cross-Risk experience and knowledge. The position involves a significant amount of interaction with senior management. The role will provide a strong understanding of the UAE regulatory environment. It will prominently be involved in delivering and fronting risk to local management across market, credit, operational, liquidity and franchise risk processes.

Opportunities also exist to broaden the breadth of cross firm experience across the products and functions in a general senior management leadership role.

Knowledge/Experience:

• Risk management background, covering market, counterparty credit and operational risk
• Experience of legal entity risk management
• Quantitative and expert in Basel regulatory requirements for legal entities
• Substantial experience in strategic planning, and project management of stress testing and capital planning deliverables in particular ICAAP
• Fully conversant with IFRS 9 and BCBS239 and other relevant accounting and Basel supervisory regulations
• Senior leadership experience of teams preferably in a global / complex / matrix organisation
• People manager with extensive and progressive management experience and a track record of delivering results in a complex environment
• Recognised leader who embraces change and has proven experience of delivering strategic initiatives
• Experience interacting with regulators

Skills:

• First-class communicator and relationship builder with the authority and passion to promote growth and impact
• Strong organisational skills and the ability to multi-task effectively in a high-volume and complex environment with changing priorities
• Sound, demonstrable track record addressing strategic issues
• Strong quantitative skills, particularly around stress testing and market risk management
• Sufficient grasp of the relevant detail, to delegate when appropriate and to question uncertainties
• Exceptional writing and quantitative skills, with ability to articulate complex concepts, translate into “user-friendly” language, and effectively present in text or slide format

• Able to manage and provide leadership to a core team across multiple deliverables

Qualifications:

• Graduate degree
• CRO experience of 3-5 years with an international bank.
  • Credit risk origination and maintenance
  • Markets Risk Management
  • Operational Risk Management
  • Regulatory Compliance
  • Legal compliance

Competencies:

• Self-starter, ability to quickly assimilate and articulate complex issues across a variety of topics
• Proven ability to partner and collaborate across the Firm, excellent influencing, facilitation, and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organisation
• ‘Process Improvement’ mindset to increase the effectiveness and efficiency of the services offered
• Strong tenacity and resilient under pressure and self-motivated in a fast paced and demanding environment
• Highly engaged, strong attention to detail, and outcome oriented
• Due to the scale of responsibilities, the successful candidate will be flexible, results orientated with the ability to deal with ambiguity and a diverse range of information.
• The role demands a strong work ethic, analytical problem solving, and the person should have a high level of integrity to deal with highly confidential data and be able to demonstrate initiative and senior leadership.

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Job Family Group:

Risk Management

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Job Family:

Functional Management

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Time Type:

Full time

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