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Citi details risk system triage

Nov 10, 2020 - American Banker
Board and Executive Moves

Citigroup says it's crafting a deeply detailed plan to overhaul its risk management and internal controls program that will not only address gaps in the system, but try to figure out how those gaps got there.

In her first public appearance as chief administrative officer, Karen Peetz said Tuesday there's "no question" Citi "fell short" in delivering in the area of risk and controls, so it is taking a wide view of the program and the deficiencies identified by federal regulators to ensure l...