ESG at Citi Sustainable Finance Climate Risk & Net Zero Sustainable Operations Building Equitable & Resilient Communities Talent & DEI Responsible Business Appendices Transforming Our Risk and Controls Environment Ethics and Culture at Citi Risk Management Human Rights Serving Our Customers and Clients Responsibly Responsible Sourcing Responsible QUICK LINKS Business Risk Management Human Rights Responsible Sourcing Our Transformation Steering Committee, chaired scenario-planning, stress testing and root-cause of employee change champions who model new Transforming by our CEO, sets the overall direction for our analysis across the risk management lifecycle. habits, encourage their colleagues to do the same, Transformation efforts and communicates All colleagues are responsible for identifying test new strategies and provide feedback. Our Our Risk and progress to our Board of Directors, and also seeks and promptly escalating risk-related concerns. annual Voice of the Employee survey indicates input and feedback from the Board. We have also prioritized data quality as a that we are making progress. In 2022, 92% of Transformation focus area, enhancing our Data colleagues indicated they feel more empowered Controls Governance Strategy to drive improvements in to take ownership and deliver on their team’s our technology and processes. goals, and 87% agree that Citi is making it easier to Environment In October 2020, the Federal Reserve collaborate across teams and businesses. Board and the Office of the Comptroller Our Transformation is underpinned by a funda- of the Currency issued consent orders mental reset of our approach to culture and We use our employee development programs, to Citi requiring improvements in the talent. Aligned with our Leadership Principles, compensation structure, and promotion and As part of an enterprise-wide effort, we are way we manage enterprise-wide risk, we have undertaken a multiyear, firm-wide performance management processes to reinforce working to modernize and simplify the bank so compliance, data and internal controls. program, designed to change the way we work by and incentivize excellence. Our compensation that we can better manage risk, improve our This, combined with an increasingly introducing everyday habits that all colleagues structure captures individual impacts on risk and service to clients and make Citi an easier place competitive landscape and our clients’ can adopt to make Citi a stronger, simpler and controls, and each of our employees has a related to work. acceleration toward digital solutions, more enjoyable place to work. We are focused performance goal they are working toward. became the catalyst for our Trans- on ownership and building a culture where Through the modernization of our infrastructure, formation strategy. colleagues hold each other accountable. This and by evolving our culture, we are strengthening ensures we establish and work within clear roles our ability to compete in a fast-moving digital and responsibilities. world. In addition to remediating issues and addressing root causes, we are enhancing and Our Enterprise Risk Management Framework The culture change program is supported by our automating data processes — working toward helps bring consistency and structure to senior leadership and includes communications, ensuring that we have the proper controls in place identifying and monitoring the varied types of workshops and other resources to empower while eliminating complexity. risks we face across Citi — leading to better employees. We also established a global network Citi 2022 ESG Report Page 65