Job Purpose : The Third Party Officer ( TPO ) is a new role as part of Citi’s Third Party Risk Management program. The Third Party Officer is responsible to focus on those third parties which carry the highest degree of risk for Citi’s businesses.
The TPO requires in depth business product knowledge and expertise and will manage the third party relationship across all stages of the lifecycle.
The TPO will work in concert with business operations and technology teams, as well as internal functions, to identify, manage and mitigate risk.
The TPO will be supported by the Enterprise Supply Chain Third Party Utility which is responsible for the execution of standard third party risk management activities that can be conducted centrally to drive operational efficiencies.
Job Background : This role will be part of Citi Shared Services (CSS) Risk and Control team. The position will reside in Manila and will be responsible for the Relationship Management and the Risk & Control Due Diligence for the Citi Shared Services Suppliers located in the APAC region.
Key Responsibilities : Third Party Officer is responsible to :
Gain thorough knowledge and understanding of Citi Third Party Risk Management requirements
Represent business leadership to coordinate Third Party Risk Management activities
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
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
Interact with third parties on escalations of non-performance and contractual issues to drive resolution when appropriate
Monitor third party performance and SLAs, either directly or through coordination with other Citi stakeholders
Maintain summary dashboard of third party performance and understand performance, including SLA breaches
Maintain the list of SLAs / SOWs in Citi’s Contract Management System (eSourcing), working with the Enterprise Supply Chain (ESC) organization if re-
negotiations are required
Review, assess and act on results of TPRM assessments / controls (e.g., IS, CoB, DPO, Export, Credit Risk, Country Risk, Financial Evaluations)
Own / support remediation of issues or gaps identified as part of ongoing monitoring
Define risk mitigation strategies and risk exceptions based on the business’ risk appetite
Provide thought leadership to drive supplier optimization and efficiencies
Enhance productivity of third party service delivery and identify cost reduction opportunities from efficiency / alternative demand scenarios
As appropriate, interact with larger TPO community and / or ESC category leads for sharing of best practices 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
Draft and present succinct executive briefs; prepare and present high-level metrics to applicable Citi senior management and stakeholders
Serve as point of contact to ensure that third party’s remediation of audit or exam issues is sufficient, and escalate as necessary
Other TPM or subject matter related duties as assigned
Development Value : This role will have exposure to the new overall Third Party Management program being developed. They will be on the ground to help shape and mould this role as well as providing input into the program.
This role will be Regional with direct interaction and exposure to CSS businesses in APAC.
Knowledge and Experience :
Preferred Candidate has 5 + years of relevant experience in Supply Chain Management, risk management and / or regulatory compliance in one or more of the following risk disciplines : technology risk, business continuity, operational risk, supplier risk, or audit and controls.
Broad knowledge of other risk areas, with strong understanding of supplier or third-party risk impact in a financial services company is a plus
Demonstrates knowledge of in-scope business and product areas
Experience in Supply Chain Management and interacting with suppliers’ management teams with the ability to exercise sound, timely and independent judgment
Candidate has some exposure to Citi’s regional / sector risk management teams and a high level understanding of the interactions between those teams
Excellent communication skills in English, both oral and written, with the ability to articulate complex and sensitive issues to management.
Local language requirements as applicable
Minimum BS / BA degree. Advanced degree a plus
Ability to organize and prioritize multiple deliverables while working with minimal supervision in a large, global corporate environment
Demonstrates understanding of operational capabilities of suppliers across applicable business types