Derivatives and Loans Operational Risk Officer, Officer at State Street in Quincy, Massachusetts

Job Description:

Who we are looking for

You will be an integral part of the Derivatives and Loans (DCOE-LSU) Operational Risk Oversight (ORO)team. Our goal is to provide management with a view of the operational risk and control environment, ensuring effective oversight through the identification, assessment and mitigation of risk, and embedding risk excellence objectives in the business unit. Focusing on risk mitigation, this includes process and control design, review, self-testing, gap analysis and remediation. Reporting to the ORO Head of the DCOE_LSU, you will regularly liaise with the business- and operational risk oversight teams to help build an effective control and risk infrastructure in the business unit.

What you will be responsible for

As Derivatives and Loans Operational Risk Officer you will

• Work with business partners to resolve issues, drive accountability and adhere to policies, regulations and guidelines


• Establish strong relationships with business unit management and teams.

• Support the execution of global programs including Incident management, issues management, Data Privacy, Data governance and other Control Programs.

• Monitor remediation steps and corrective action plans from control review findings to implementation.


• Provide strong management reporting.


• Monitor, actively manage and report risk and compliance issues.


• Ensure timely escalation of any risk matters to the Head of Operational Risk Oversight, Derivatives and Loans

• Support the ORO for DCOE-LSU through tracking of global procedures, updates to collaborate sites, management of distribution lists, and other key activities


• Build relationships with first line business and risk colleagues as well as with Enterprise Risk Management, Compliance, Legal, and Audit partners

• Perform additional responsibilities as required

These skills will help you succeed in this role

• Your ability to be detailed orientated, take initiative, exercise independent thinking, manage multiple tasks, set priorities, and meet deadlines are essential


• You have strong interpersonal and organizational skills and a strong desire to work in a professional and team-oriented environment

• Minimum 5 years of equivalent work experience in operational risk management/fund accounting/ operations


• A good understanding of the operational risk environment is desirable. Preferably around one of the following areas: controls design and effectiveness evaluation; operations; risk management, regulatory compliance, and project management with regards to middle to back office operational risk mitigation


• Previous experience in reviewing and implementing initiatives, policies and procedures desirable


• Knowledge about tools: ICAMS and Archer issue management


• Excellent communication (verbal and written), organizational and time management skills


• Strategic thinking and ability to influence, collaborate and interact comfortably with multiple levels of the organization


• Attention to detail, problem solving, analytics and accountability


• Self-motivated, adaptable, and willing to take on new challenges

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

Salary Range:
$70,000 - $111,250 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.