Third Party Risk Manager, Citi

Citi

Location:
India, Chennai

Category:
Finance

Contract Type:
Employment contract

Salary:

Not provided

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Job Description:

The Third Party Officer (TPO) is responsible for managing third party relationships across all stages of the lifecycle, focusing on those third parties carrying the highest degree of risk for Citi’s businesses. The role involves mitigating risks, monitoring third party performance, and ensuring compliance with Citi’s policies and controls.

Job Responsibility:

Gain thorough knowledge and understanding of Citi Third Party Risk Management requirements
Represent business leadership in coordinating third party risk requirements
Evaluate current market conditions and provide insight on trends/issues
Complete initial Risk Assessment for third party and reevaluate as required
identify any significant changes in relationship to trigger update of Risk Assessment
Verify third party’s compliance to required policies and controls
Conduct on-site visits of third party, as required
Develop, document and update Citi’s Exit Strategy Plans as required
when the exit strategy poses significant risk to Citi, work with business contacts to establish appropriate risk mitigation activities to minimize risk to Citi
Monitor third party performance and SLA’s
Interact with BAO on escalations of third parties non-performance and contractual issues to drive resolution when appropriate
Review, assess and act on results of Due Diligence and Ongoing Monitoring Risk Management Assessments/Analysis
Own and lead remediation of any issues or gaps identified from ongoing monitoring
Support defining risk mitigation strategies and risk exceptions based on the business’ risk appetite
Support Leadership to drive supplier optimization and efficiencies
Support initiatives to enhance productivity of third party service delivery and identify cost reduction opportunities from efficiency/alternative demand scenarios
Standardize SLA performance monitoring measures for like services, where possible
As appropriate, interact with larger TPO community and/or ESC category leads for best practices sharing and coordination of services
Liaise with the ESC Third Party Utility, as necessary, to review and respond to the results of third party risk management activities conducted centrally by the Utility
Support drafting and presentation of executive briefs
prepare and present high-level metrics to applicable Citi senior management and stakeholders
Serve as point of contact to ensure Third Party’s remediation of audit or exam issues is sufficient and escalate as necessary.

Requirements:

Bachelor's/University degree or equivalent experience
Minimum of 5-8 years of experience in operational risk management, compliance, audit, or other control-related functions in the financial services industry
Ability to identify, measure, and manage key risks and controls
Strong knowledge in the development and execution for controls
Proven experience in control related functions in the financial industry
Proven experience in implementing sustainable solutions and improving processes
Understanding of compliance laws, rules, regulations, and best practices
Understanding of Citi’s Policies, Standards, and Procedures
Strong analytical skills to evaluate complex risk and control activities and processes
Strong verbal and written communication skills, with a demonstrated ability to engage at the senior management level
Strong problem-solving and decision-making skills
Ability to manage multiple tasks and priorities
Proficiency in Microsoft Office suite, particularly Excel, PowerPoint, and Word.

What we offer:

Access to telehealth options, health advocates, confidential counseling
Access to learning and development resources
Programs to help employees balance work and life.

Additional Information:

Job Posted:
August 01, 2025

Employment Type:

Fulltime

Work Type:

Hybrid work

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Third Party Risk Manager