Director - Risk and Control
Citigroup
Total years of experience :32 years, 5 months
Accountable for all aspects of enterprise risk management and financial control operations. Provide strategic and tactical design and structuring of the risk management process in accordance with corporate goals, business initiatives, regulatory expectations, and global industry trends. Manage $4M budget. Hire and develop 25 individuals.
- Implemented framework for comprehensive business/enterprise risk assessment (ERM) and analytics, defined risk metrics.
- Continuous enhancement to ERM by evaluating business risks, analyzing risk trends, and developing appropriate key risk indicators.
- Elevated risk-based decision-making through process for identifying emerging risks, scenario analysis, trend analysis, and action.
- Input to the strategic direction as a key part of the executive management team from a risk management perspective.
- Developed and delivered the annual risk monitoring plan. Co-ordinated the monitoring and pro-active management of risk.
- Managed executive-level risk reporting and MIS on compliance with risk management policies and regulatory requirements.
- Analyzed and enhanced the overall risk governance process. Liaising with relevant external stakeholders.
- Developed risk-related policies and guided staff in their application.
- Advised business management on risks inherent in BAU and new business initiatives.
- Managed and developed the Risk Management team to deliver the required proactive support to the business line management.
- Mentored, appraised and responsible for professional development of the Risk team.
Enterprise Risk Management (ERM) / Strategic Risk Management (all businesses in Group):
* Implemented Enterprise Risk Management Framework. (Experienced in COSO ERM, ANS 4360:2004, ISO 31000:2009).
* Developed ERM policies for corporate and subsidiaries.
* Established risk register covering all risk categories.
* Developed framework for risk consideration in strategic planning, budgeting, investment appraisal and capital allocation.
* Developed process for identifying and updating key risk factors (KRIs).
* Established risk appetite and evaluated business risk capacity. Allocated risk limits based on portfolio risk/return profile.
* Implemented framework to assess business risk exposure through simulating risk scenarios (KRIs) to derive VaR/CFaR.
Operational Risk Management for businesses:
* Established the operational risk management strategy: defined mandates and process for risk management, classification, treatment.
* Established ORM governance framework, mandates (for Board and business partners), key partnerships with compliance and audit.
* Developed process for “Top-Down” Risk Assessment process. Developed business risk registers and Key Risk Indicator (KRIs).
* Established Risk and Control Self-Assessment (RCSA) framework.
* Developed fraud risk management framework and integrated fraud risk assessment in the business risk self-assessment framework.
* Develop framework for operational risk loss event capture and analysis, scenario analysis, risk sensitivity analysis.
Capital Markets Activities / Private Equity: (Capital Market Activities (under Group Treasury) and Private Equity business):
* Setup the structure, policies and developed staff for the middle office risk management team.
* Reviewed deal structure and sign-off on market risk management strategies for identifying and managing exposures.
* Monitored & verified all capital market positions & portfolio risks. Monitored exposures against limits & compliance with policy.
VP/Director - Global Head of Operational Risk Management and Enterprise Risk.
(Global Head of Operational Risk Management for over 10 retail banking and consumer finance companies internationally.)
Operational Risk:
* Developed and implemented operational risk management framework in over 10 international banking companies.
* Established global operational risk and credit risk management policies for all banks in 10+ international locations.
* Developed process for “Top-Down” Risk Assessment process. Developed business risk registers and Key Risk Indicator (KRIs).
* Implemented the RCSA, KRI and MIS reporting (KPM’s) framework and risk dashboard.
* Implemented framework for loss event date management and analytics, monitoring, tracking and reporting.
* Developed risk governance framework. Co-chair of the RMC.
* Implemented COBIT framework for IT governance.
* Led the SOX 404 assessment and reporting process and established controls around end-user tools.
* Developed business-wide risk training and awareness material. Provided “brown bag” awareness sessions.
* Managed regulatory examinations and internal audit reviews.
Credit/Mortgage Portfolio:
* Established a comprehensive credit risk assessment and scoring worksheet/process for credit / underwriting mortgage loans.
* Reviewed credit and mortgage performance and concentration.
* Performed fraud review (analytics on drivers of excessive losses on loans) and QC review (re-verified credit information used).
* Integrated risk management review in product development.
* Assessed credit portfolio concentration and proposed corrective actions.
* Monitored mortgage portfolio KRIs and stress-test for economic conditions: housing market, interest rates, unemployment, etc.
Basel II (Development and Implementation):
* Assessed Basel II requirements and managed the development and rollout of Basel II platform across the banking subsidiaries.
* Implemented a Basel II Center of Excellent. Provided training and awareness.
SVP - Head of Compliance and Operational Risk Management.
Head of Compliance and Operational Risks Management department in the Commercial Business Group. Responsible for developing an effective risks and controls environment, compliance strategy, risk self-assessment, and integration of risk management initiatives.
* Developed the compliance strategy and managed compliance and risk requirements across different product and functional areas.
* Led the integration, enhancement and embedding of risk and controls self-assessment framework (RCSA) within business units.
* Managed the RCSA risk self-assessment process, implementing corrective actions and tracking results.
* Responsible for business level risk aggregation, reporting, escalation, and developing mitigation.
* Led the re-design of processes, analyzed flowcharts and ensuring risk activity risks and identified and controls developed.
* Re-designed workflow process, transaction documentation, and implemented appropriate segregation and internal controls.
* Developed risk management training to executive/staff on risk infrastructure, policies, roles, responsibilities and reporting metrics.
* Led process improvement initiatives, and oversaw compliance with operational risk and Sarbanes-Oxley 404 programs.
* Developed framework for producing, analyzing and reporting on Business Risk Profiles and KRI’s.
* Managed framework for loss event data management and Basel II analysis for operational risk management.
Senior Manager, Risk Management Services (Enterprise Risk Management) - ERM Practice Leader.
* Practice leader for Enterprise Risk Management (ERM). Managed engagements for Enterprise-wide Risk Assessment (ERA) and developed ERM framework for companies banking, insurance, energy, and other sectors.
* Facilitated clients in undertaking an integrated enterprise risk assessment, establish risk registers (catalogues), developing customized risk management policies, refining risk reporting frameworks, and assessing risk response and risk monitoring.
* Worked with clients to develop effective corporate governance around ERM and Sarbanes-Oxley (SOX) projects. Leverage information to develop effective corporate governance framework and risk management, including risk ownership, accountability, governance committees’ mandates, and concise and effective risk communication format.
* Validated clients’ existing risk management and reporting frameworks. Integrated clients’ company-wide risk initiatives, investment appraisal and capital project risk assessments into COSO ERM framework.
* Undertook strategic risk assessment, and integrating risks management in strategy and financial planning.
* Developed risk profile for an IPO in the due diligence process, and adding value from integrating enterprise risk assessment.
* Developed and implemented change management program to support effective implementation of ERM.
(Clients in the financial services sector include: Prudential Insurance, ING Insurance, Canada Life, CIBC, Environment Canada, Manulife, RBC Insurance, AIG, Citibank, JP Morgan, Fannie Mae, Freddie Mac, PNC Bank, Bank of America, Morgan Stanley.)
ERM - Market & Credit Risk, Trading Risk Management, and Investment Appraisal/Review:
* Designed, implemented and integrated Enterprise Risk Management (ERM) across the business units and organization.
* Provided oversight of Market & Credit Risk Management and risk policies and procedures on energy trading activities.
* Implemented and managed derivative counterparty exposure utilizing value-at-risk (VaR) methodology on the trading activities.
* Assessed, reviewed and reported on trading and related risk positions, credit contracts and performance assurance.
* Introduced Real Options Valuation (ROV) concepts in IT procurement, development and integration, and in capital investments.
* Developed company-wide Investment Appraisal guidelines.
* Developed framework for risk integration in Business Strategic Planning.
* Developed and maintained corporate risk registers for all risk types.
Operational Risk:
* Developed Operational Risk Management Framework and implemented the RCSA risk self-assessment process.
* Developed Basel II requirements, and implemented framework for corporate-wide operational risks data collection and analysis.
* Developed and implemented business driven finance metric for structured finance activities.
* Led the documentation process for financial controls in response to the Sarbanes-Oxley Act 2002.
* Developed corporate BCP/DRP and integrate into ERM framework.
Insurance Risk:
* Managed the insurance department, placing and renewing business insurance coverage.
* Developed insurance risk optimization initiatives (and annual claims analytics model) for all insurance platforms.
* Reduced insurance risk premiums by 35% by introducing self-insured programs and new initiatives to maximize risk-reward.
* Cut insurance claims 15% by developing captive insurance platform and coaching departments to improve efficiency.
* Received CEO’s award for outstanding accomplishments, leadership, hard work, and ability to implement positive change.
Senior Strategic Risk Consultant
P&L responsibility for $ 5mm. 10 direct reports.
* Identified and modeled risks inherent in business strategies and initiatives. Pinpointed dependencies and developed mitigations.
* Implemented program for operational risk self-assessment and key risk profiling (from risk dependency modeling).
* Performed risk assessments on M&A and monitor risks post-acquisition. Developed/implemented change management strategy.
* Implemented risk governance (GRC) and communication and benchmarking process for ERM risk reporting across businesses.
* Implemented improvement initiatives using Balanced Scorecard and business excellence model concepts for the business operations.
* Designed and implement business continuity plans (BCP/BCM, DRP)
* Worked with risk managers to set risk appetites and concentration limits.
* Developed and trained personnel on effective project/program management. Developed in-house continuous training material.
* Strategic risk assessment (risk integrated in strategic planning), risk dependencies and risk optimization for FTSE 100 clients.
* Developed change management program for clients in financial services, manufacturing, energy.
* Recognition for success in client's risk assessment and process reengineering. Profiled in the Wall Street Journal, August 1999.
Privately held project and construction management company with 5, 500 employees in 73 global offices. Merged with Lend Lease Corporation USA in 1999.
Project Finance Consultant / Program Management
6 direct and 10 indirect reports of project managers and finance consultants.
* Project management consulting on major client projects
* Arranged financing of investment projects though private and public partnership arrangements. Managed project, contract, outsourcing, and risk assessment, including analysis and development of financial models.
* Generated over $30, 000, 000 in fees by negotiating deals and cross-selling services.
* Improved efficiency (20%) and value by integrating change management into project management during the financing process.
* Implemented concepts of value management in contract and project risk management, investment, and outsourcing.
* Arranged project financing and led project management of capital projects of up to $300, 000, 000 through European banks.
MOUCHEL CONSULTING, UK 1990-1995
Privately held engineering and management consulting firm with 1, 500 employees.
Project Management Consultant
* Delivered national and international multi-disciplinary projects.
* Led project economic appraisal and project financing analysis.
* Project management and project risk management.
* Project investment appraisal and optimization, financial and quality control, performance review and operations management, business resource management, contract and business risk management.
* Developed PMO and led project management teams for national and international projects.
* Brought in and project managed over $200, 000, 000 on UK government infrastructure project.
MBA Degree Information. 1: Master's Degree: MBA - Master of Business Administration. Key Subjects: Finance, Strategy and project Management. 2: Dissertations: Adopting the EFQM Models for small and medium size organizations. 3: Internship: THE POST OFFICE COUNTERS LTD. (POCL), Retail of British Royal Mail Service, London, UK. (UK's regulated, sole mail courier service with two divisions, retail and operations with $10 billion in revenues.) Business Improvement Consultant - European Business Excellence Model (EFQM Model) * Responsible for customizing the European Business Excellence Model (EFQM) for medium-size and small-scale businesses making up the 20,000+ outlet for the retail company. Provided strategic planning, operational analysis and review, and revenue forecasts. * Assessed, recommended, developed, and executed performance improvement and self-assessment framework based on EFQM. * Undertook business planning and performance review for representative samples of 20,000 franchise retail outlets. Structured change management initiatives on how the managers assess their business for performance enhancements and focus. * Developed business planning and performance metrics, competitive benchmarking, and key business drivers. * Instituted framework for business to grow revenues 15% and increase number of local outlets 10% by focusing on franchise's key business performance and revenue drivers.
Master of Engineering Degree: - Civil Engineering degree with Management.