Alpha Platform Business Risk Manager, Officer at State Street in Burlington, Massachusetts

Job Description:

Job Description

Who we are

State Street's Alpha business harmonizes data, technology and services across the end-to-end investment management cycle so our clients' team can overcome silos, work smarter, and stay in sync. State Street AlphaSM is the industry's first-ever global interoperable platform that connects the front, middle and back office with one provider.

The organization consists of Alpha Platform (CRD) and Alpha Services (Investment Manager Services and Alpha Data Services). Together, we are driving the strategic vision for State Street.

Who we are looking for

Alpha Platform has established a Business Risk Management function that improves risk management in the first line of defense through implementing controls, monitoring and testing, and oversight activities. The Business Risk Manager (BRM) Officer is a key contributor within the first line of defense risk management program and acts as a valued partner to the Alpha Platform business in the identification, assessment, mitigation, and reporting of risk. The BRM Officer will also help advise the Alpha Platform business on how to effectively balance commercial considerations with the risk excellence objectives established by business leadership.

Candidates will be experienced in sound risk management and governance practices within the financial services or fintech industries. Further, potential BRMs must have experience with compliance, resiliency, and/or technology risks and controls. He/she will partner across stakeholder groups to enhance risk management capabilities, improve the efficacy of the control environment, support clients' oversight of the Alpha Platform via due diligence and audits, and better respond to regulatory guidance/mandates through the implementation of compliant solutions.

Why this role is important to us

The team you will be joining is a part of a global, cross-divisional group supporting State Street AlphaSM, our front to back platform that powers better performance and outcomes at every point on the investment lifecycle. This role is critical, because risk management and controls enabling client trust are part of our commercial value proposition. Strong management of regulatory, operational, and technology risk is essential to our reputation and clients' trust. Join us if making your mark in an ever-changing, increasingly complex and competitive industry is a challenge you are excited to pursue.

What you will be responsible for

As a Business Risk Management Officer, you will

• Document and communicate results of reviews, including issues and recommendations, to process owners and senior management


• Advise on the design and implementation of new controls


• Use available data to compile responses to client risk questionnaires and support client audit requests


• Assist in the execution of risk assessment programs


• Assist in the oversight of Issues Management across Alpha


• Analyze root causes and trends in the Alpha Incident Management process


• Initiate communications with key stakeholders for inconsistencies identified and follow through to successful resolution


• Assist with the creation and maintenance of procedure documents, trainings, and FAQs


• Establish positive relationships with key functional teams and leaders within first line of defense business lines, second line of defense, and auditors


• Develop and maintain an understanding of State Street's products, emerging technologies, and industry trends


• Maintain the highest level of personal integrity in all dealings thereby mitigating reputational risk to State Street and its customers


• Other tasks as required

• 2-5 years background/experience in risk & control (e.g., Risk Management, Compliance, Audit)


• Experience in financial services or fintech sectors


• Strong organizational skills


• Ability to collaborate and drive execution within the organization


• Ability to empathize and connect stakeholders with different perspectives


• Strong analytical skills, including intermediate data analysis


• Ability to work independently and with virtual teams across different teams & jurisdictions


• Strong time management: prioritization versus deadlines


• Self-driven / proactive personality


• Effective communication, written and verbal


• Knowledge of financial industry


• Advanced PC literacy including: PowerPoint, Excel, MS Office


• Knowledge of Archer Governance, Risk Management, and Compliance (GRC) Application a plus

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:
$65,000 - $102,500 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.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

State Street's Speak Up Line