Serves as a senior compliance risk manager for Independent Compliance Risk Management (ICRM) responsible for providing regulatory guidance on Citi business activities and products, leading internal investigations, drafting responses to inquiries from Treasury's Office of Foreign Assets Control (OFAC), drafting complex OFAC license applications, and overseeing the risk management of Citi’s OFAC sanctions lists. In addition, supports establishing internal strategies, policies, procedures, processes related to monitoring and fostering awareness of sanctions regulatory requirements that Citi must comply with; assessing related sanctions risk exposure, overseeing the quality of sanctions control processes and setting global standards to manage and mitigate those sanctions risks and protect the franchise. Leads the collation of information on potential breaches of sanctions from across the firm and work with contacts in the Business and Compliance to ensure consistent and effective application and implementation of, and controls to evidence adherence to, relevant sanctions related global standards, policies and procedures.
Responsibilities:
- Managing the institutional relationship with OFAC, and primary point of contact for US and foreign regulators, industry groups, and Citi internal audit staff for US Sanctions regulatory matters, as appropriate, including coordinating Sanctions-related examinations, audit and reviews, document production, and issue responses.
- Setting strategy, reviewing and approving OFAC Administrative Subpoena responses, Voluntary Self-Disclosures, license applications, and other relevant regulatory correspondence.
- Overseeing the governance and risk management of OFAC and internal sanctions lists.
- Designing, developing, delivering, and maintaining best-in-class Sanctions Compliance practices, providing a mechanism for identifying key sanctions risks and how the mitigation of those risks would be monitored and measured through a control framework.
- Identifying, managing, and escalating significant sanctions risks to the Chief Sanctions Officer, and supporting the remedial actions, where appropriate.
- Ensuring that reviews are conducted consistently across each entity on a regular basis to ensure that the controls identified are operating effectively.
- Acting as an Economic Sanctions Subject Matter Expert responsible for overseeing the bank’s risk-taking activities and providing timely regulatory guidance to Citi’s business units.
- Managing a specialized team of Compliance professionals responsible for the execution of Sanctions regulatory and program activities. Developing, attracting, and retaining talent; recommending staffing levels required to carry out the unit’s role and responsibilities effectively while establishing and adhering to talent management processes and compensation and performance management programs.
- Supporting the assessment of complex transactions, deals and issues, structuring potential solutions and driving effective resolution with other senior stakeholders.
- Providing advice to the businesses on an ongoing basis on new business initiatives, new products, business acquisitions, and client-related matters with respect to applicability of policies, resolution of potential red flags or other client/transaction-related compliance escalations.
- Monitoring adherence to Citi’s Global Sanctions Policy and relevant procedures; staying current on key Sanctions regulatory changes, key enforcement actions and related industry trends.
- Directing investigations in coordination with internal stakeholders as appropriate, including developing remedial actions in accordance with regulatory expectations.
- Interacting with Senior Management to raise awareness of Sanctions trends, emerging issues, remedial actions or enhancements to the program; supervises the preparation of materials for the Board or relevant management/risk committees.
- Tracking industry trends and events, and integrating effective measures and program elements to effectively manage global sanctions-related risks.
- Additional duties as assigned
Qualifications:
- Extensive knowledge of and expertise in Sanctions regulations, risks, and typologies
- Experience producing formal written communications for OFAC
- Experience working in OFAC and/or the Department of the Treasury
- Experience in managing regulatory exams and relationships with examiners, auditors, etc.
- Awareness of regulatory requirements including local and US laws, international and industry standards
- Highly motivated, strong attention to detail, team oriented, organized
- Ability to manage a diverse team
- Excellent written, verbal and analytical skills
- Strong communication and interpersonal skills; strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging
- Ability to interact and communicate effectively with senior leaders
- Significant knowledge and expertise of Compliance laws, rules, regulations, risks and appropriate controls
- Experience in the design and implementation of Compliance programs
- Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
- Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
- Experience with and previous exposure to internal or external control functions and regulators (incl. the US)
- Ability to challenge business management and escalate issues when appropriate
- Strong track record of effectively assessing and managing competing priorities
- Experience managing diverse teams, and comfort navigating complex, highly-matrixed organizations
- Comfortable acting as an agent for positive change with agility and flexibility
- Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views. Strong presentation and relationship management skills are essential
Education:
- Bachelor’s Degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof
- Masters Degree in a relevant field or Juris Doctor (JD) strongly preferred
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
------------------------------------------------------
Job Family Group:
Compliance and Control
------------------------------------------------------
Job Family:
Sanctions
------------------------------------------------------
Time Type:
Full time
------------------------------------------------------
Primary Location:
Washington District Of Columbia United States
------------------------------------------------------
Primary Location Full Time Salary Range:
$170,000.00 - $300,000.00
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.
------------------------------------------------------
Anticipated Posting Close Date:
Aug 26, 2024
------------------------------------------------------
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.
View the "EEO is the Law" poster. View the EEO is the Law Supplement.
View the EEO Policy Statement.
View the Pay Transparency Posting