Operational Risk Analyst

Job Description:

• The primary purpose of our 'Operational Risk Analyst' role is to act in an internal second line of defence (2LoD) capacity, ensuring that our operational team members and Subject Matter Experts are correctly adhering to our regulatory obligation by stringently adhering to our predefined policies and procedures.
• This role will involves ensuring our People, Processes, Systems and Controls are all aligned on our operational risk deliverables.
• The successful candidate will assume ownership and responsibility for conducting the appropriate quality control checks / Quality and accuracy Monitoring.
• This will consist of identifying and ensuring that deviations from standard operating procedures are; a) Identified b) Documented (Results uploaded into SharePoint and our Enterprise Risk Management System) c) Promptly corrected
• There will be a steep learning curve requiring that a thorough understanding of how our People, Processes, and Systems & Controls operate.
• The Ideal candidate will be experienced in operating in a highly controlled environment and have good working knowledge of US Tax obligations.
• Ideally with US Tax Form Validation, Withholding and Reporting across the F.A.T.C.A. and Common Reporting Standards regimes.

Job Background:
In direct response to increased 'Regulatory Taxation Reform' and in Partnership with 'Corporate Tax', 'Internal Audit' and 'Risk & Control'. Our 'Finance & Risk Shared Services' (FRSS), Tax Information Reporting (TIR) division have attained Corporate backing to implement a more robust 'Governance & Control Framework' that reports back to a centralised 'Steering Committee'.
This strategic initiative enables;
1) Global Consistency: a. Centralised Governance & B.A.U. Oversight b. Centralised Change Control (CR & Project Management)
2) Effective Risk Management: Introduction of Best practices and methodologies that mitigate potential exposures to Regulatory, Operational & Reputational exposure (Penalties / Cessation orders). Introduction 3rd Level Line of Defence
3) Economies of Scale: That will positively impact our; a). People centric knowledge pools b).(Increased) Efficiencies & Productivity c).Effective Quality Control Monitoring d).Accountability & Responsibility

Key Responsibilities:

• Accuracy & Completeness of Control Testing: In accordance to Citi Sampling Policy, the ORM Delegate will conduct sample monitoring of our 'Maker Checker' Daily, Weekly, Monthly, adhoc and Annual operational activities. The objective is to review adherence to operational processes
• Breach Identification: Proactively identify operational fails, review with SLT to determine if the fail status is warranted? Then ensure corrective action(s) are administered and documented accordingly.
• Coordinate Consolidated Reporting: Ensure a collaborative / one team approach to ensuring that our SLT are clear on their R&C obligations / deliverables. The ORM Analyst will facilitate the attestation process by preparing the required evidence ahead of adherence attestations in accordance to predefined deadlines.
• Assume ORM Control Expert status: Build tax technical knowledge and experience by liaising with / shadowing existing SMEs to gain a thorough and complete understanding of US Tax regulations (Tax Form Validations & US Withholding). The objective is to ensure we are adhering to and enhancing controls.
• Maintain Governance Control Framework: Liaise with 'Risk & Control' to ensure deliverables are understood and delivered to expectation. Ensure operational teams are kept abreast of their 'Risk & Control' deliverables; understand their responsibilities and the associated deadlines / Priorities. E.g. Formal notifications of deliverables accompanied by how to guides (Hyperlinks, deadlines etc.)
• among others for full job description please get in touch.

Relevant Experience:

• Candidates with any combination of the following work knowledge and experience will be considered;
• Career Experience: 2 to 5 years' relevant experience ideally in a US Corporations / International Tax environment.
• Banking Experience: Familiarity with securities operations and workflows / Investment Bank / Private Bank experience (Back / Middle Office): Equities - Fixed Income - Derivatives - Settlements
• Tax Regime Exposure: Ideally experienced / sound working knowledge of FATCA, CRS / UK CDOT tax regimes.
• US Tax SME: Exceptional knowledge of the US tax regulations (including US & NRA, documentation, withholding and reporting) and the Qualified Intermediary regulations.
• Managing Critical Controls: Proven experience of working in a highly controlled environment conducting key control reviews.

For the full job description please get in touch.