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The Third Party Officer (TPO) is responsible to focus on those third party relationships which carry the highest degree of risk for Citi’s businesses. The TPO requires in depth business product knowledge and expertise and will support the management of third party relationships across all stages of the lifecycle. The TPO will work in concert with the Business Activity Owners (BAO), business operations and technology teams, as well as internal functions, to identify, manage and mitigate risks.
Job Responsibility:
Lead onboarding of new third parties
Complete initial Risk Assessment for third party and reevaluate as required
identify any significant changes in relationship to trigger update of Risk Assessment
Collaborate with business and other relevant stakeholders to ensure contracts meet Citi requirements
Verify third party’s compliance to required policies and controls
Interact with BAOs and third parties on escalations of non-performance and contractual issues to drive resolution when appropriate
Maintain summary dashboard and manage third party performance, including SLA breaches
Review, assess and act on results of Risk Management Assessments/Analysis
Lead remediation of any issues or gaps identified from ongoing monitoring
Define risk mitigation strategies and risk exceptions based on the business’ risk appetite
Monitors exceptions to dispute policy and identifies drivers of exceptions
Has the ability to operate with a limited level of direct supervision
Can exercise independence of judgement and autonomy
Acts as SME to senior stakeholders and /or other team members
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency
Requirements:
5-8 years relevant work experience in Business Risk & Controls
MS Excel, MS Access
5+ years’ experience in financial services
Consistently demonstrates clear and concise written and verbal communication skills