Job Background/Context: The Hong Kong Chief Risk Officer (CRO) serves as the single point of contact for franchise-level risk matters relating to the businesses and legal entities operating in the country and provides Risk Management partnership to the Hong Kong Citi Country Officer (CCO). The Hong Kong CRO represents the interests of all Hong Kong legal entities in Risk Management and regulatory matters while ensuring timely escalation and resolution of franchise-level risk issues.The Hong Kong CRO ensures compliance with risk-related HKMA guidelines and circulars, including the Risk Management Framework module of the HKMA Supervisory Policy Manual. The Hong Kong CRO partners closely with the APAC Chief Risk Officer and other members of the Regional Risk Management senior leadership team on regional projects and initiatives.In carrying out the risk-related regulatory and governance responsibilities, the Hong Kong CRO will be supported by the 2nd Line of Defense risk managers from the respective risk verticals in the country.
Responsibilities include: Based in Hong Kong, the Hong Kong CRO will have a direct reporting line to the APAC CRO.Key responsibilities of the Hong Kong CRO are as follows.
Serve as the primary 2nd Line of Defense Independent Risk Manager for all franchise-level risk issues, covering Citigroup's key principal risks as defined in the Risk Governance Framework
Provide oversight for the Independent Risk Management organization for all businesses, risk segments, and legal entities in Hong Kong; support franchise goals within acceptable risk parameters and appetite and in compliance with Citigroup Risk standards and local regulatory policies and guidelines
Co-chair the Country and Legal Entity Risk Management Committees (or equivalent) to monitor and address aggregate risk issues across multiple risk stripes and legal entities
Serve as the Independent Risk Management representative to the local (CHKL, CGMA, and CIL) boards; responsible for providing effective 2nd Line of Defense oversight for all risk verticals impacting legal vehicles in Hong Kong
Serve as the Independent Risk Management representative on applicable local and regional committees and councils (e.g. CCC, ALCO, BRCC, etc.)
Ensure risk oversight at the legal vehicle and subsidiaries levels
Identify and champion cross-sector/product utilities to deliver efficiencies and improve quality of Risk Management support; support re-engineering opportunities for the Risk organization
Coordinate the identification, sharing, and vetting of common risk concerns and sensitivities and the development of coordinated solutions in response to factors such as adverse developments in local regulatory and political landscapes and deterioration in industry lending practices
Act as the primary Risk Management partner to the Hong Kong CCO on risk-related regulatory and governance matters
Provide guidance to the Hong Kong CCO and other senior managers on risk requirements and potential implications on business strategies and initiatives
Partner with the Hong Kong CCO to enhance the risk culture of the franchise
Facilitate and coordinate risk-related responses to inquiries and requests from regulators
Ensure involvement of the appropriate local risk experts in vetting and resolving regulatory issues
Engage internal counsel and Government Affairs on advocacy efforts related to regulations that affect the Firm's risk-taking initiatives as needed
Partner with the Country CFO on key projects related to ICAAPs, regulatory reporting, etc.
Execute the following duties for comprehensive and independent risk management
Ensure compliance with Risk Management policies, standards, guidelines, and best practices within the relevant Businesses; act as the focal point for best practice and knowledge sharing across the businesses
Ensure compliance with current and future internal governance standards at the legal entity and country levels, as applicable to Risk Management
Responsible for identifying, monitoring, aggregating, and reporting key existing and emerging risks in the businesses and portfolios to the senior Country and Regional management teams
Drive the development and implementation of stress testing for businesses and portfolios to ensure that risk exposure is appropriately sized relative to business size and risk appetite and in compliance with internal stress testing-related frameworks and procedures
Drive the implementation of enhancements to the legal entity framework, including the creation of legal entity-specific risk governance framework documentation and establishment and monitoring of risk appetite and limits
Review and analyze risk limits, controls, and policies; provide information to senior management in a timely manner
Ensure adequate staffing, training, and talent development within the Hong Kong Risk Management organization
Experience and Qualifications:
15+ years Risk Management or related experience
Bachelor's degree or equivalent, Master's degree preferred; relevant certifications such as CPA, CFA, FRM, or similar are desirable
Senior-level experience in a related role with experience in business, functional, and people management with proven abilities in taking responsibility for risk and portfolio management
Specific subject matter expertise in Risk Management with extensive knowledge of banking, markets, Basel, high-risk products, and other related businesses and functions
Proficient in anticipating strategic portfolio risk tolerances and breaches resulting from business risk changes
Proficient in stress testing impact of risk on portfolio values and capital required to support businesses
Experience in regulatory engagement and management
Demonstrated experience in leading teams through challenges and crises
Demonstrated compliance with internal and regulatory requirements under complex balance sheet conditions
Demonstrated effective communication and negotiation skills
Integrity, combined with high personal and professional standards
Adherence to a "no surprises" approach in communicating and escalating issues
Strong interpersonal skills for interactions with all levels of internal and external staff, management, and clients
Ability to make decisions on matters pertaining to franchise and reputation risks
Ability to eliminate recurring problems; ability to break down complex matters into core issues and root causes
In-depth knowledge of banking products and services
Proficient understanding of the impact of changes in macroeconomic indicators on portfolio and business performance
Ability to manage large volume deal flows; ability to make prudent decisions under pressure and in a timely manner
Managerial maturity in looking out for the best interest of the enterprise and franchise
Job Family Group: Risk Management Job Family: Functional Management Time Type: Full time 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