Assistant Vice President – Third Party Risk Oversight specialist - TPRO - Consumer Credit Risk Job at Citi (Mumbai)

Job Description

The AVP – Third party risk oversight role is responsible for owning and enhancing Citi’s third-party risk oversight capabilities supporting consumer credit risk. The role ensures that all third-party relationships supporting consumer lending activities operate within Citi’s risk appetite, meet regulatory expectations, and comply with contractual and internal policy requirements. This role act as strategic bridge between Risk, procurement, legal, compliance, technology, and operations, ensuring third-party engagements are well governed, resilient, compliant, and aligned with regulatory expectations.

Job Responsibility

Product ownership and strategy: Own the end-to-end product vision for third-party risk oversight tools, processes, and controls within consumer credit risk
Own the TPRO vision, roadmap, and backlog, ensuring alignment with Citi risk policies and enterprise standards
Translate regulatory guidance, Citi policies, and risk requirements into User stories, controls, and functional requirements into scalable risk oversight solutions
Prioritize initiatives based on risk severity, regulatory commitments and business impact
Third-party Risk oversight: Oversee risk assessment lifecycle for third-party vendors, including: Inherent risk assessments, Due diligence (financial, operations, cyber, data privacy, model risk), Ongoing monitoring and periodic reviews
Ensure critical and high- risk vendors undergo enhanced oversight and governance
Maintain a risk-tiered vendor inventory aligned with consumer credit risk exposure
Supplier and contract management: Ensure supplier contracts meet regulatory, risk and control standard, including: SLAs, KPI, audit and access rights, data protection, information security, confidentiality, BCP/DR (business continuity planning/ Disaster recover), subcontractor and fourth-party controls
Track contract milestones, renewals, terminations and renegotiations
Proactively identify contracts nearing expirations and drive timely renewals or exit strategies
Partner with legal and procurement to remediate contractual gaps and risk issues
Monitoring, Control and Issue Management: Monitor vendor performance against agreed SLAs, KPIs, and risk metrics
Identify underperformance trend and drive correction action plans
Support incident management, escalate vendor failures, breaches or service disruptions through formal governance forums
Ensure remediation plans are tracked to closure
Regulatory, Audit and Governance: Ensure third-party risk controls meet regulatory and supervisory expectations for consumer credit activities
Act as a key point of contact for internal audit, external audit, regulatory exams and compliance reviews
Maintain defensible documentation, risk assessments, approvals, and audit trails
Lead responses to regulatory findings and ensure timely remediation
Stakeholder management & Reporting: Chair or contribute to third party risk committees & Credit risk governance forums
Partner with: Credit Risk leadership, Compliance & Legal, Information security & Data privacy, Procurement & Vendor Management, Technology & Operations
Provide senior management with clear risk reporting, dashboards, and insights
Communicate risk insights, trends, and recommendations effectively across stakeholders
Data, Reporting & Controls: Review and track key risk indicators (KRIs), and metrics related to third-party credit risk exposure
Ensure effective issue management, including incidents, breaches, and near misses
Drive automation and tooling improvements to reduce manual risk processes
Continuous improvement: Benchmark third-party risk oversight practices against industry best-in-class banks
Drive simplification, standardization, and automation of oversight processes
Ensure scalability as the bank adopts new credit products, fintech partners, and digital platforms

Requirements

8+ years of experience in Risk management, third-party risk, vendor risk/management or credit risk with a large financial institution
US banking regulatory expectations
Prior experience operating with consumer credit risk or closely related risk domains
Extensive background in managing critical suppliers and regulated third-party relationships
Experience active as a risk/process oversight owner or leading risk platforms, frameworks, or governance models
Bachelor’s degree in related fields
Working knowledge of Vendor relationship management / Vendor risk management/ TPRO
Growth mindset with ability to balance risk, compliance and business enablement
Excellent stakeholder management and executive communication skills
Ability to challenge vendors and internal partners constructively
Comfortable operating in a highly regulated, fast changing environment

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Assistant Vice President – Third Party Risk Oversight specialist - TPRO - Consumer Credit Risk

Job Description

Job Responsibility

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