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Compliance Testing Officer (Markets - FX and Commodities) - Vice President

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Citi

15d ago

  • Job
    Full-time
    Senior & Expert Level
  • Legal
  • London

AI generated summary

  • You need compliance testing experience, knowledge of auditing principles, strong interpersonal and negotiation skills, advanced analytical abilities, and a relevant degree or experience in financial services.
  • You will assess compliance risks, conduct testing, report findings, develop relationships, utilize data analytics, inform management of issues, and identify training resources.

Requirements

  • Compliance Testing experience
  • Experience in planning, executing, and reporting on compliance testing reviews and regulatory issue validation activities
  • Knowledge and experience with auditing principles including audit planning, risk assessments, development of risks and controls matrices, processes and controls design assessments, controls operating effectiveness testing, transactional access segregation of duties, transactional testing, surveillance systems, and reporting activities
  • Understanding of rules, laws, and regulations, specific regulatory requirements, financial services and the following asset classes: commodities and currencies
  • Strong interpersonal skills for building strong relationships with stakeholders and engaging teams
  • Effective negotiation skills, a proactive and “no surprises” approach in communicating issues, and strength in sustaining independent views
  • Excellent oral communication and writing skills in interacting with non-executives and executive management and across a number of business lines and control functions
  • Knowledge of Compliance laws, rules, regulations, risks and typologies
  • Advanced analytical skills
  • Bachelor's/University degree, Master's degree preferred
  • Bachelor’s degree; experience in compliance, legal or other control-related function in the financial services firm, regulatory organization, or legal/consulting firm, or a combination thereof; experience in area of focus; Advanced degree a plus

Responsibilities

  • Serves as a compliance risk officer for Independent Compliance Risk Management (ICRM)’s Testing team responsible for assessing compliance risks and controls implemented by the first and second line of defense. Also responsible for performing risk assessments of Citi's compliance risks; performing independent testing activities to assess the design and effectiveness of key controls designed to address compliance risk; reporting and escalating control issues and any violations of laws or breaches of policy; and validating adequacy of remediation taken to address reported issues.
  • Developing, implementing, and executing compliance testing and reporting programs within an assigned region in accordance with the Compliance Independent Assessment (CIA) Plan.
  • Participating in the planning, executing, and reporting of compliance testing reviews and compliance and regulatory issue validation activities for a component of a product line, function, or legal entity within an assigned region in accordance with Compliance Independent Assessment Plan.
  • Analysing and documenting report findings, and having preliminary discussions with corresponding control/process owners.
  • Utilizing innovative compliance testing solutions including Data Analytics to increase value and reduce costs of compliance-related activities.
  • Developing effective relationships within CIA function and with other stakeholders including Business process owners and Internal Audit function.
  • Identifying industry best practices and share insight with the CIA teams on a regular basis.
  • Informing CIA management of significant compliance matters that require their attention or action.
  • Identifying compliance training resources and tools available centrally to support country/business compliance programs training and research needs.

FAQs

What is the primary responsibility of the Compliance Testing Officer?

The primary responsibility of the Compliance Testing Officer is to assess compliance risks and controls implemented by the first and second line of defense, perform independent testing activities, and report on compliance issues and control effectiveness.

Is prior experience in compliance testing required for this position?

Yes, compliance testing experience is a key qualification for this role.

What type of skills are important for building relationships with stakeholders?

Strong interpersonal skills are essential for building effective relationships with stakeholders and engaging teams.

What is the educational requirement for this role?

A Bachelor's/University degree is required, with a Master's degree preferred. Relevant experience in compliance or control-related functions is also necessary.

Do I need to have knowledge of specific asset classes?

Yes, an understanding of rules, laws, and regulations specific to financial services, particularly in the commodities and currencies asset classes, is important for this position.

What kind of benefits does Citi offer to employees in this role?

Citi offers a competitive salary, generous holiday allowance, discretionary annual performance-related bonus, private medical insurance, pension plan, and various discounts, among other benefits.

Will I need to perform data analysis as part of this job?

Yes, utilizing innovative compliance testing solutions, including data analytics, is part of the responsibilities to enhance compliance-related activities.

Is this position located in a specific city?

Yes, this position is based in London.

What kind of communication skills are necessary for this role?

Excellent oral communication and writing skills are required to effectively interact with both non-executives and executive management across various business lines.

Does this position require knowledge of compliance laws and regulations?

Yes, knowledge of compliance laws, rules, regulations, risks, and typologies is crucial for the successful performance of this role.

Finance
Industry
10,001+
Employees
1998
Founded Year

Mission & Purpose

Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City. Citi's operation is to provide financial services that enable growth and economic progress. Core activities are safeguarding assets, lending money, making payments and accessing the capital markets.

Benefits

  • Live Well, Stay Healthy

    Citi provides programs and services for your physical and mental well-being including access to telehealth options, health advocates, confidential counseling and more. Coverage varies by country.

  • Paid parental leave

    We believe all parents deserve time to adjust to parenthood and bond with the newest members of their families. That’s why in early 2020 we began rolling out our expanded Paid Parental Leave Policy to include Citi employees around the world.

  • Save well, for now and your future

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  • Keep learning

    Citi provides access to an array of learning and development resources to help broaden and deepen your skills and knowledge as your career progresses.

  • Be well, take time off

    We have a variety of programs that help employees balance their work and life, including generous paid time off packages.

  • Support Your Community

    We offer our employees resources and tools to volunteer in the communities in which they live and work. In 2019, Citi employee volunteers contributed more than 1 million volunteer hours around the world.