Citi Senior Audit Manager in Mumbai, India

  • Primary Location: India,Maharashtra,Mumbai

  • Education: Master's Degree

  • Job Function: Audit

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: No

  • Job ID: 16042223



Internal Audit is a global organization of over 1000 professionals covering Citi's global businesses and service to clients and customers in over 180 countries. Citi's Internal Audit division provides independent assessments of the company's governance, risk management and internal control environment for key stakeholders including the Board of Directors, senior management and Citi’s numerous regulators globally. Internal Audit is a change agent within Citi aimed to enhance the control culture of Citigroup worldwide and thereby support senior management decision making around the globe.

Job Purpose:

This role directs the timely delivery of complex high quality, value added assurance and audit reports for a portfolio of business activities, which meet the requirements of the Boards of Citigroup and Citibank, their affiliates and of Citi’s respective regulators, globally.

Citigroup’s Model Risk Governance organization is responsible for the management of model risk across the firm. The Model Risk Management framework provides an independent set of controls over the key risks that are associated with the use of models for the purposes of Citi's key businesses, including the Institutional Clients Group and the Global Consumer businesses. This control framework includes various aspects of model risk management such as model governance, inventory, documentation, validation and use.

The Global Model Risk IA team has a mandate to provide a comprehensive program of audit coverage for the firm's model risk management framework and related controls across all lines of business. As a member of this team, the individual will help to design and implement the model risk audit methodology. The individual will also be responsible for the development and delivery of a risk based IA plan that is executed in accordance with the department's policies and procedures. To successfully deliver this plan, the candidate will need to partner with the department’s business, product and technology audit teams as well as their respective business leaders.

Key Responsibilities:

  • Develops and executes a robustAudit Plan, by reviewable entity, for assigned businesses in accordancewith Internal Audit standards, relevant government statutes andregulations and Citigroup and Citibank policies

  • Delivers on time high qualityaudit reports, Internal Audit and Regulatory issue validation and (whereappropriate, branch examinations, as well as business monitoring andgovernance committee reporting

  • Directs complex auditactivities for a component of a product line, function, or legal entity atthe regional or country level including a portion of the audit annual plan

  • Applies comprehensive expertisein one or more of the corporation's businesses and leverages thisknowledge into a leadership role in one or more teams

  • Proactively advances integratedauditing concepts and use of technology. Closely follows latesttrends in own field and adapts them for application within own job and thebusiness

  • Manages a complex and criticalunit within Internal Audit, including a medium sized team of InternalAudit professionals. Recruits staff, develops talent, builds effectiveteams, and manages a budget

  • Possesses a broad andcomprehensive understanding of different Internal Audit standards,policies and local regulations; applies a broad and comprehensiveknowledge of high risk areas including: Consumer or Investment Banking,technology management; project/program management; regulatory complianceor supplier management

  • Leads the professionaldevelopment of Internal Audit staff

  • Develops effective senior linemanagement relationships and has a strong understanding of the businesses

  • Applies an in-depthunderstanding of the inter-relationships of business and support unitsthroughout the corporation and how they impact the overall controlenvironment and the audit approach

  • Uses excellent communicationskills in order to influence a wide range of internal audiences includingrespective product, function, or regional executive management partners.May negotiate internally often at higher levels on matters whichwill have a major impact on the area managed

  • Demonstrates strong judgment,political astuteness, and sensitivity to cultural diversity

  • Possesses strong projectmanagement and interpersonal skills, makes sound decisions, exhibitinginitiative and intuitive thinking. Consulted often by others for adviceand opinions and recognized as a leadership role model

  • Participates in major businessinitiatives and pro-actively advises and assists the business on changeinitiatives

  • Frequently involved in mattersthat require complex judgments and solutions based on sophisticatedanalytical thought such as identifying solutions for a variety of complexand novel audit control issues

  • Analyzes reporting findings;Recommends appropriate interventions where needed

  • Proposes creative and pragmaticsolutions for risk and control problems

  • Partners with Directors andManaging Directors to develop approaches for addressing broader corporateemerging issues

  • Serves as lead reviewer for alltypes of reviews, including the most complex

  • Reviews and approves BusinessMonitoring Quarterly Summaries


Qualifications andCompetencies:

  • PhD, MSc or equivalent inFinance, Mathematics, Economics or other relevant quantitative science

  • Senior level experience in thein the development of advanced credit risk capital, stress testing andloss forecasting models for banking products, wholesale credit or retailcredit portfolios

  • Senior level experience in arelated role with experience in business, functional and peoplemanagement, with proven abilities in taking responsibility for executingconcurrently on a portfolio of high quality deliverables to stakeholdersaccording to strict timetables

  • Specific subject matterexpertise regarding technology application control disciplines and a solidbusiness understanding of Model Risk Management concepts, such as modelgovernance, inventory, documentation, validation and use, especially thoseassociated with the use of models for valuation, risk management, decisionsupport and other purposes across all businesses

  • Demonstrates experience inmanaging teams and managing integrated internal audit and assurancedelivery within a matrix reporting environment

  • Effective negotiation skills, aproactive and 'no surprises' approach in communicating issues and strengthin sustaining independent views

  • This individual must be anarticulate and effective communicator, both orally and in writing, with anenergetic, charismatic and approachable style

  • Strong interpersonal skills forinterfacing with all levels of internal and external audit and management