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- NEW YORK, Sept 16 (Reuters) - Citigroup has submitted a comprehensive multiyear plan to the Federal Reserve and the Office of the Comptroller of the Currency outlining steps to fix weaknesses in its risk management and internal controls, two sources familiar with matter said.
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The Citigroup Chief Risk Officer (“CRO”) heads the Independent Risk Management function, which sets risk and control standards for the first line of defense and actively manages and oversees aggregate credit, market (trading and non-trading), liquidity, strategic, operational, compliance and reputation risks across the firm, including risks that...
Feb 12, 2024 · More than three years after Citigroup was penalized in connection with risk management problems, regulators have stepped up their pressure on the New York megabank, according to a Reuters...
Sep 16, 2022 · NEW YORK, Sept 16 (Reuters) - Citigroup has submitted a comprehensive multiyear plan to the Federal Reserve and the Office of the Comptroller of the Currency outlining steps to fix weaknesses...
Sep 13, 2023 · Citi has been executing a focused strategy for its five interconnected businesses, made rapid progress on exiting its consumer franchises outside the United States, and continues to strengthen its risk management and controls.
Sep 15, 2022 · Citigroup Inc. is due to submit Thursday to federal regulators a new plan for addressing deficiencies in its risk management infrastructure, The Wall Street Journal reported Thursday.
Sep 29, 2021 · In October 2020, Citibank entered into a consent decree with a fine of $400 million. Citibank and Citigroup previously faced and failed to meet the requirements of multiple consent orders, resulting in other large fines. These can provide lessons for risk management across industries.
Jul 1, 2023 · Citi's strong balance sheet and capital levels, robust asset and liability management, and prudent risk management approach have enabled the firm to be a source of stability and strength for clients during the market turmoil in early 2023. As of March 31, 2023, Citi had a well-diversified $1.3 trillion deposit
