Compliance Product Director – PBWM Servicemembers Compliance Program – Servicemembers Civil Relief Act and Military Lending Act (SCRA/MLA) (Hybrid)

Wilmington, Delaware
Citi
Serves as a senior product compliance risk manager in Independent Compliance Risk Management (ICRM) responsible for establishing internal strategies, policies, procedures and processes to prevent violations of law, rule, or regulation and design and delivery of a risk management framework for Citi’s Servicemembers Compliance Program.

The Servicemembers Compliance Program Director will lead the ICRM Team with direct oversight of the Servicemember’s Civil Relief Act (SCRA) and Military Lending Act (MLA) for Citi’s North America Consumer Businesses (including Personal Banking & Wealth Management (PBWM) and Institutional Clients Group (ICG) businesses). The leader will be responsible for the development and implementation of appropriate risk control structures consistent with Citi’s program framework for both SCRA and MLA and the on-going monitoring and maintenance of those structures, as well as extensive engagement with, and credible challenge of, the First Line of Defense in their compliance with SCRA/MLA.

Responsibilities:

• Assessing Compliance Risk Appetite for the Servicemembers Civil Relief Act and the Military Lending Act (SCRA/MLA) and advise applicable Citi businesses on appropriate actions to address areas outside of risk appetite through review of risks, controls, MIS and operational dashboards for compliance with regulatory requirements.
• Providing credible challenge on determination of impacted processes and controls (i.e., direct engagement and review with MCA, Issues, Policies and Procedures, New or Changes to Products and Services, Third Party Relationships and oversight activities).
• Evaluating the scope and applicability of SCRA and MLA to applicable Citi business activities and associated Assessment Units; updating the Reg Inventory and monitor progress of Reg Change implementation.
• Developing and deploying training related to the laws, regulations, rules, and policies that are applicable to SCRA and MLA activities.
• Planning and executing compliance monitoring; communicating with the business on findings and providing guidance on issues identified.
• Actively participating and escalating potential compliance related incidents in SCRA/MLA governance forums and other Citi Governance and Oversight committees, as needed.
• Executing strategic priorities for SCRA/MLA compliance program including maintaining Citi level policies and other related activities to ensure compliance program is maintained and enhanced over time.
• Facilitating recurring regulatory engagement (quarterly On-going Supervision and Annual Exam) related to both SCRA and MLA and senior level First Line engagement and challenge at monthly Executive Steering Committee Meetings
• Providing compliance guidance on SCRA and MLA rules and regulations relating to operational issues, transactional approvals and the application of internal compliance policies for day-to-day activities.
• Managing a team of Compliance professionals. 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. Mentoring and developing junior staff.
• Directing the design, development, delivery and maintenance of best-in-class Compliance programs, policies and practices for ICRM. Translates ICRM strategy and goals across Citi’s clients, products and geographies; provides direction and guidance on the programs.
• Staying abreast of relevant changes to rules/regulations and other industry news including regulatory findings.
• Providing oversight and guidance over the assessment of complex issues, structures potential solutions and drives effective resolution with other stakeholders. Provides advice to the function/business/product on an ongoing basis on new initiatives, new products, acquisitions, and client-related matters with respect to applicability of policies, resolution of potential red flags or other client/transaction-related compliance escalations.
• Representing Citi on critical regulatory matters as required. Serves as liaison with regulatory examiners, Internal Audit, and external auditors on critical Compliance issues and oversees the implementation of related remediation. Collaborating with other internal areas including: Legal, Business Management, Operations, Technology, Finance, other Control Functions, and In-Business Risk to address compliance issues which may impact the assigned business/product/function.
• Supporting the function/business/product in performing timely compliance reviews of new transactions and/or products.
• Managing ICRM initiatives as required, such as the implementation of new Compliance systems, controls, and related project management work efforts.
• Overseeing the monitoring and identification of regulatory developments, including enforcement actions, and new laws, regulations, rules, and interpretations or guidance relating to the business/product/function supported.
• Analyzing and scoping the impact including applicability of new and complex regulatory developments across the assigned business/product/function, including cross-border impact, if appropriate.
• Assisting in the establishment of ICRM policies, procedures and controls to comply with these new or changed laws and regulations.
• Participating in industry groups and trade association working groups or other forums.
• Additional duties as assigned.

Qualifications:

• Significant knowledge and expertise of Servicemembers Civil Relief Act and the Military Lending Act (SCRA/MLA) regulations, risks and appropriate controls
• Highly motivated, strong attention to detail, team oriented, organized
• 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
• 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 Business/Function
• Experience with and previous exposure to internal or external control functions and regulators
• Ability to challenge Business/Function management and escalate issues when appropriate
• Strong track record of effectively assessing and managing competing priorities
• Comfortable 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
• Subject matter expertise in area of focus
• Certified Regulatory Compliance Manager (CRCM) preferred

Education:

• Bachelor’s degree or equivalent experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; strong working knowledge of the assigned function/business/product and related laws and regulations, previous experience managing a diverse staff
• Advanced degree (e.g. JD, MBA) preferred

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Job Family Group:

Compliance and Control –

Job Family:

Product Compliance Risk Management

Time Type:

Full time

Primary Location:

New York New York United States

Primary Location Salary Range:

$170,000.00 – $300,000.00

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