Services Financial Crimes and Fraud Risk Director

Citigroup Inc.; City Of London; Hybrid; GBP 125,000 - 150,000; Full time

Job summary

A leading global financial services provider in London is seeking a Services Financial Crimes and Fraud Risk Director. The role involves managing and mitigating fraud risk across the services business, ensuring compliance with regulations, and collaborating with various teams to strengthen risk management. Candidates should have significant experience in risk management and established fraud expertise. This position offers a hybrid work model and competitive benefits.

Benefits

Generous holiday allowance starting at 27 days

Discretionary annual performance-related bonus

Private medical insurance options

Employee Assistance Program

Pension Plan

Paid Parental Leave

Employee discounts for staff and families

Access to learning and development resources

Qualifications

• Significant direct experience as a senior risk professional in a large financial services organization.
• Established fraud subject matter expertise across External, Internal and First Party Fraud.
• Strong knowledge of operational risk management frameworks.

Responsibilities

• Manage and mitigate financial crime and fraud risk.
• Ensure compliance with applicable laws, rules and regulations.
• Collaborate with in-business risk teams for a holistic fraud risk approach.

Skills

Risk management

Fraud compliance

Analytical Thinking

Stakeholder Management

Education

Bachelor's degree

Master's degree

Job description

Team/Role Overview

Serving clients in 95 countries, Services provides integrated payments and collections, liquidity management, short term financing and trade financing, Investor Services (including Custody, Fund Services and Execution Services) and Issuer Services solutions to multinational corporations, financial institutions, public sector organisations and mid-sized corporate clients with global needs. These services are supported by on-the-ground local market expertise, innovative technologies, customized data solutions and a wide range of solutions that can be tailored to meet clients' needs.

The Financial Crime and Reputational risk team is responsible for proactive, effective, and sustainable risk management within the Services business, one of Citi's five interconnected business lines.

The Services Financial Crimes and Fraud Risk Director is a first line role responsible for supporting the Services businesses in managing and mitigating financial crime, and specifically fraud risk end-to-end. This role will work with global and regional Products, Business Risk, Operations, Technology and Compliance teams to identify and assess emerging risks and ensure an adequate control infrastructure is in place to manage fraud risk. The role holder will map and assess existing controls, focusing on effectiveness and adherence to global and local policies and applicable regulation.

The role will assist in identifying control issues, conducting root cause assessment, ensuring robust issue resolution and appropriate escalation. The individual will work with counterparts across Citi lines of business to respond to threats, share best practices, and support management of financial crime and other regulatory risks across the firm.

The role requires a broad understanding of fraud as it manifests in Services products, with grounding in risk management, compliance and operational controls, together with industry and peer best practices.

Key objectives of the Services fraud risk management framework

• Ensure the operating model within Services is clear and consistent with appropriate expertise and accountability, supported by structured training and awareness programs to manage fraud risk
• Align Services risk appetite with business outcomes for relevance at product and country levels; operate within the set risk appetite
• Articulate control design requirements and ensure objectives are defined at appropriate risk categories for consistent design and effectiveness
• Oversight of Management Control Self-Assessment (MCA) and supplementary assessments, with clear reporting of insights
• Embed risk management practices, insights and tools into day-to-day processes and decision-making

What you'll do

• Understand business-owned products, services, and related fraud controls and processes (e.g., customer, relationship, and transactional screening)
• Provide fraud compliance/risk management subject-matter expertise to ensure a coherent control environment
• Support design and ongoing adaptations of the fraud control framework for effective risk management across Services
• Drive execution to ensure compliance with applicable laws, rules and regulations
• Ensure risk mapping and clear control ownership
• Assess risk appetite breaches and maintain a robust path to green to remediate breaches
• Create aggregated fraud risk pictures for Services
• Engage with the 2nd line of defence to ensure coordination
• Escalate significant risk issues and control concerns to the Services Financial Crimes RCF and BRCC
• Support assessment, design and/or implementation of fraud risk tools across Services' Products
• Maintain robust partnerships with business heads, operations, technology and the second line of defence
• Engage early on new initiatives to support commercial priorities and risk policies
• Review control processes to ensure alignment with policy and business expectations
• Ensure controls are implemented with appropriate documentation
• Serve as an escalation point for fraud events
• Collaborate with in-business risk teams for a holistic fraud risk approach
• Identify opportunities to streamline processes and improve client experience while maintaining fraud risk controls
• Support timely responses to regulatory inquiries

What we'll need from you

• Significant direct experience as a senior risk professional in a large financial services organization with responsibility for managing fraud risks and related operational processes
• Established fraud subject matter expertise across External, Internal and First Party Fraud and ability to work with other financial crime disciplines
• Proven expertise in risk management including process and controls engineering
• Strong knowledge of operational risk management frameworks in a global organization
• Experience in crisis management and turnaround situations
• Strong experience in Financial Services, in Financial Crime and/or Compliance or Business/Product Operations and/or Risk & Controls
• Excellent interpersonal, oral and written communication skills; able to communicate with senior stakeholders
• Able to work independently and deliver to strict timelines and quality standards
• Able to drive change across a global organization
• Proven people and team management skills; project management and change capabilities are essential
• Self-sufficient, able to prioritise and multi-task in a dynamic environment
• Demonstrated analytical and problem-solving skills
• Bachelor's degree required; master's degree desirable

Management and Leadership Characteristics

• Experience managing large, enterprise-wide risk programs in a financial services organization
• Understanding of Citi Services products and how risk practices contribute across the company
• Proven track record of stakeholder management and leading sustained change
• Ability to articulate purpose and vision for risk management
• Strong listening and communication skills at senior management level
• Leadership skills across diverse teams; collaboration across boundaries to deliver results
• Approach of continuous improvement to solve root causes and standardize processes
• Strong communication skills

What we can offer you

We work to have a positive financial and social impact and put employees first with competitive benefits. By joining Citi London, you will be part of a business casual workplace with a hybrid model (up to 2 days at home per week) and a competitive base salary, plus benefits:

• Generous holiday allowance starting at 27 days plus bank holidays; increasing with tenure
• Discretionary annual performance-related bonus
• Private medical insurance options
• Employee Assistance Program
• Pension Plan
• Paid Parental Leave
• Employee discounts for staff and their families
• Access to learning and development resources

Alongside these benefits Citi is committed to an inclusive workplace where everyone can bring their whole self to work.

Sounds like Citi has everything you need? Then apply to discover the full extent of your capabilities.

Job Family Group: Risk Management; Job Family: Enterprise Risk; Time Type: Full time

Most Relevant Skills Analytical Thinking, Business Acumen, Constructive Debate, Escalation Management, Issue Management, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment, Stakeholder Management.

Other Relevant Skills: For complementary skills, please see above and/or contact the recruiter.

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