Job ref no.: 22449484
Citi

VP, Insurance Governance, Risk & Controls

Citi

As the bank plans to scale up to meet the goal of hyper growth of Insurance business, this position serves as a function/business/product risk manager, responsible for guiding the business on governance matters, policies/procedures, processes, and programs to prevent violations of law, internal policy, or regulation. Design and adopt a Risk management framework that maintains risk levels within the firm's risk appetite and protect the franchise.

As Governance Lead for the business , be responsible for front-to-back risk & control product coverage for the Insurance business, working closely with the country and regional functions including Insurance Business, Compliance (ICRM), Legal, Operational Risk Management (ORM), Operations & Technology, Internal Audit, Digital and Fintech teams, etc. and Country Consumer Business Operational Risk and Control (CBORC) teams to execute a robust control and governance framework and maintain an effective and efficient Monitoring process.

Key Responsibilities:

  • Governance - Support Insurance Business head by leading and conducting the Business Insurance Forum (BIF) which provides oversight of the Insurance Business in the country.
  • Risk and Control – Implement Risk and Control programs that aid management to identify, analyze and respond appropriately to the identified risks and have a solid Corrective Action Plans (CAP)
  • Monitoring: Utilize existing monitoring techniques and tools such as Manager Control Assessment (MCA), Regular review of Key Automated Controls (KAC) and Digital Monitoring Tools (DMT)
  • Compliance to Policies / Procedures/ Regulation: Ensure Global Insurance Standards & Other key policies, procedures and local regulatory requirements are being followed and ensure that requirements are implemented in standardized manner in consultation with country and regional seniors
  • Escalation Management - Partner with key control functions to identify significant franchise, operational and regulatory risks related to insurance products and be the first point in the country to escalate significant matters
  • Audit Management – Help in providing a consistent process for reporting, tracking and remediation of control weaknesses (audit issues) identified by Internal Audit. • Track Key Risk Indicators (KRI) for the market and ensure that country implements corrective action plan where required

Knowledge/Experience/Technical skills:

  • Bachelor’s Degree
  • 10-12 years of relevant industry experience with background in insurance and/ or banking compliance
  • Knowledge of regulatory frameworks in the market with experience of dealing with regulatory compliance
  • In-depth knowledge of insurance products/ processes across life and non-life will be an advantage over other candidates
  • Excellent project management and organizational skills and capability to handle multiple projects/initiatives concurrently
  • Proficient in MS Office applications (Excel, Word, PowerPoint)

Personal Skills:

  • Strong control and compliance focus • Demonstrated analytical skills and decision-making capabilities
  • Ability to engage with various stakeholders and deliver timely results
  • Experience of working in environment with cross-organization teams will be an advantage
  • Strong written and verbal communication and interpersonal skill

We are implementing the Vaccine Pass in accordance with the guidance of the HKMA, effective April 1, 2022. All Citi staff will be required to be vaccinated against COVID-19 or have a valid medical exemption to enter Citi premises. To comply with this, the successful candidate must be either vaccinated against COVID-19 or have a valid medical exemption.

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.

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