Compliance AML Risk Management Sr Director (Wealth)

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.

Citi’s Mission and Value Proposition explains what we do, and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards are a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.

Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.

Citi’s Anti-Money Laundering (AML) organization aims to protect our clients, our franchise and the financial system from being used to facilitate money laundering and terrorist financing through a robust, globally consistent program focused on the prevention, detection and reporting of AML risks which complies with applicable AML laws and regulations.

Role

The Global Head of AML Risk Management - Wealth reports to Citi’s Chief Compliance Officer (CCO) Anti-Money Laundering (AML) / Bank Secrecy Act (BSA) and will be responsible for driving change and the primary face-off to the Wealth line-of-business, including providing thought leadership, direction and driving greater consistency in global program design and execution across our wealth management activities.

This individual acts as an effective and trusted information source to the business on AML laws, regulations, policies and practices and works with other AML partners on the design, development, and refinement of the Citi AML Program. Working collaboratively across both the front and third lines of defense to execute the AML program effectively, this second line of defense function provides oversight through appropriate controls, monitoring and escalation framework.

This person is responsible for assessing complex issues, structuring potential solutions, contributing to a culture of learning and continuous improvement, and driving to resolution with senior stakeholders. Demonstrated experience and success in the context of significant change management processes and practices is a must, while knowledge of AML and financial services operations across all business lines is a plus.  As a representative and extension of the ICRM AML team, this person will liaise with regulators on critical AML issues, participate in key governance forums, risk assessment and training initiatives, and support reporting to executive governance groups. 

Responsibilities:

Provide AML guidance to the Wealth group globally to assist in identification and mitigation of AML risk and drive increased understanding of and accountability for AML risks. This includes:

• Serve as key risk management thought leader for Citi for AML matters relevant to Wealth.

• Set, develop, and implement strategic AML compliance risk management direction for the Wealth group globally including other wealth management clients.

• Maintain sufficient understanding of the products and services to recognize AML risks and vulnerabilities and opportunities to leverage aspects of overall compliance programs for efficient and effective risk coverage.

• Review and assess new products and services in Wealth for inherent AML risk and determine that an appropriate control is established and operational prior to implementation.

• Develop, implement, enhance and draft relevant AML policies and procedures for the Wealth designed to manage inherent risk of the business or activity within the firm’s risk tolerance.

• Work proactively with the business to achieve solutions while demonstrating “credible challenge” when and where necessary.

• Challenge management, escalate issues and press for change while highlighting and emphasizing the role as the second line of defense.
• Review, address and escalate significant issues and activities to senior management.

• Understand and monitor the legal, regulatory and industry practices environment; provide up-to-date knowledge and expertise relevant to AML compliance and senior leaders.

• Liaise with US and foreign regulators and Citi internal audit staff for AML matters, as appropriate, including coordinating AML-related examinations, audit and reviews, document production, and issue responses.

• Ensure there is adequate AML training provided to front line and AML Compliance employees, and as needed, participate in the design and delivery of training as required to inform employees of the objectives of AML Program areas and the standards necessary to satisfy them.

• Work closely with AML Core program pillar leaders to develop appropriate AML controls and standards, implement and execute them within both the program framework and technology applications as necessary to maintain and enhance the Wealth AML program elements.

• Manage a staff of AML professionals to accomplish the group’s goals and objectives; invest in the development of all team members.

• Serve as AML Representative to Senior Governance meetings for including the Wealth Product Approval Committee. Represent Citi as appropriate to external audiences through conferences, industry roundtable groups or participation in public / private partnership initiatives.  Serve on the AML Governance and Business Risk Committee (GBRC) and participate in Business and Compliance committees or working groups as appropriate.

Qualifications:

• Bachelor’s degree or equivalent experience required, master’s degree and/or professional certification preferred

• 8+ years people management experience

• 15+ years of experience in a highly regulated, fast paced, large global financial services firm in AML, compliance, audit, risk or other controls-focused risk management function

• Significant knowledge and expertise of AML regulations, risks and typologies

• Demonstrated ability to assess complex issues through root cause analysis and other analytic techniques, structure potential solutions, and drive to resolution with senior stakeholders

• Experience with and previous exposure to internal control functions and regulators within the US; particularly banking and AML regulators

• 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

• Proven capability in the design and implementation of AML programs; deep and broad change management implementation experience – demonstrated by examples of end-to-end thinking and leading, scaling and executing against global strategic programs

• Proven experience leading large geographically dispersed teams, influencing people across locations and cultures in a complex organization with a matrix reporting environment. Experience partnering with multiple constituencies across functions and at senior levels to create consensus and effectively execute responsibilities

• Strong presentation and relationship management skills - must be an articulate and effective communicator, both orally and in writing, with an enthusiastic and approachable style

• Highly-motivated – must be able to operate amidst complex and competing goals and can motivate others to act, with and without direct authority

• Experience with interacting at senior levels and maintaining credibility through solid delivery against commitments

• Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views

• The aptitude to be comfortable acting as an agent for positive change

• Role model for and driver of a culture of ethics, learning and accountability.  Positive, can-do attitude, action and results-oriented, decisive, and willing to take control of a situation when required; trusted advisor with sound judgment even when operating under pressure or significant stress

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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.

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