Operational Risk, Vice President at State Street in Boston, Massachusetts

Job Description:

Role Summary:

The VP, Operational Risk Manager provides risk management oversight to State Street Corporate Functions including Global Credit Finance, Global Treasury, Finance and the Global Human Resources organizations.

The role holder will execute the operational risk framework over these lines of business to ensure effective identification, measurement, control and management of operational risks globally. As a partner to the senior business leaders, the incumbent must be skilled at effectively influencing business behaviors and risk culture, highlighting issues and articulating outcomes.

The Vice President position sits within the 2nd line of defense and reports to the Operational Risk Executive for Global Markets.

The role is global in nature and will require excellent communication, negotiation and partnership skills in order to influence a wide variety of stakeholders

Other Key Responsibilities Include:

• Providing independent operational risk oversight and challenge for these lines of business


• Developing a detailed understanding of the business as well as relevant industry issues, frameworks and emerging risks for the business


• Partnering with senior leaders to enable risk-informed key business and strategy decisions through their understanding and governance of the business (e.g. as a member or attendee of Business Risk Committees and Risk Forums)


• Executing and overseeing Operational Risk Framework programs (e.g., RCSAs, KRIs, Operational Incident capture and management)


• Promoting operational risk awareness across the business and acting as an independent, trusted advisor to the business units on risk matters


• Developing and maintaining close ties with the business to ensure the effective communication of business developments that potentially impact their operational risk profile


• Collaborating with Business Control Team, Compliance, Legal, Audit and fellow team members to form a holistic view of business risks


• Providing proactive, insightful analysis and interpretation of risks to the First Line based on robust knowledge of the business and a deep and broad external market view on current best practice


• Overseeing that risks are actively managed in line with risk appetite, overseeing the continued refinement and/or development of appropriate controls and ensuring thorough and timely resolution of issues


• Supporting and challenging the First Line using superior influencing and negotiating skills to identify, assess and control emerging risks prior to material P&L impact


• Driving execution of remediation plans and regulatory commitments as applicable

• Minimum of eight years of relevant industry experience with a proven track record for achieving operational risk excellence


• Experience across Operations, Risk Management and / or Audit roles which require the management of diverse risk types including operational risk


• Cutting edge subject matter expertise in operational risk discipline

• Engages business leaders to identify key control indicators and maintain effective and efficient continuous control monitoring processes


• Strong analytical and problem-solving skills


• Navigates organizational complexity; demonstrates organizational acumen


• Builds partnerships across functions and regions; collaborates well with others


• Networks regularly and builds relationships across Risk disciplines and across key stakeholders within the first line of defense

• Ability and confidence to exercise influence over a wide range of individuals at all levels of technical & business leadership


• Experienced in using active listening techniques on a consistent basis


• Comfortable with public speaking across various forums and being able to effectively communicate when ideas are being challenged in an open forum

• The role is global, and the incumbent must be proactive and capable of leading discussions with stakeholders and colleagues in different regions and time zones


• The successful candidate will need to be a hands-on, self-starter, and able to manage tasks/timelines

• Bachelors / Master's degree in finance, business, accounting or related field


• Certified Internal Auditor (CIA) designation or Certification in Risk Management Assurance (CRMA) preferred

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.

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