Role Summary:

The EVP of Enterprise Operational Risk Management reports directly to the Chief Risk Officer for State Street and is responsible for overseeing the development, implementation and management of the global enterprise wide framework for Operational & Technology Risks. The role sets out State Street’s enterprise-level strategies, governance, policies and practices to proactively identify, assess, measure, report on, mitigate and control operational risk exposures associated with the Company’s businesses and functions at all levels of the organization.

The role will have responsibility for the second line of defense function that oversees and guides the quality and effectiveness of both the Operational & Technology risk management practices across the Company.

The role is accountable for collaborating with Business Unit Executives, ERM peers, other leaders within Legal, Compliance, Regulatory & Industry Affairs and Corporate Audit.

Why this role is important to us:

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

Other Key Responsibilities Include:

• Develop and monitor existing and emerging Operational & Technology risks, identifying material trends, escalating applicable risk issues and ensure appropriate risk responses are developed in a timely manner.

• Provide independent oversight of Operational & Technology Risk management by the first line of defense as well as the quality of operational risk management practices across the Company.

• Propose enterprise level Operational & Technology risk strategies and policies for approval by the Company’s Board and update them as required.

• Provide framework and structure to challenge management’s decisions, business processes, and activities to understand and strengthen overall operational risk practices and programs.

• Advise and consult with senior leaders across the Company on both Operational and Technology risk-related events to determine root cause and develop an appropriate risk management response, and implement measures to prevent future occurrences

• Manages relationships with regulatory agencies regarding operational risk management including, but not limited to, the Federal Reserve, FDIC, PRA, FCA, ECB, etc.

• Ensure that impact from the firm’s strategic plans, financial capital planning and global risk identification processes are aligned to the framework.

• Monitor changes in Business area Risk profiles and provide effective challenge to Business stakeholder’s remediation plans

• Work closely with business unit management to establish appropriate risk culture and ensure business line ownership, accountability and responsibilities for risks they generate

• Lead, manage, and direct programs including:

  • Risk and Control Self-Assessment - the primary risk identification and assessment program for the Company

  • Standards for the Company’s Internal Control Framework including testing requirements across Operational & Technology risk types

  • Issues Management

  • Risk Loss Event and Incident Management and Lessons Learned

  • Risk Scenario Analysis

• Ensure timely reporting of relevant risks to senior management and the Board

• Ensure all monitoring and reporting procedures align with risk policies and ensure that the organization works effectively with individual business group conducting gap analyses and defining related remediation work.

• Chair applicable company or business unit-wide committees and serve in applicable global and regional committee and ensure that relevant risk-related management information is produced and reviewed at appropriate intervals.

• Collaborate day-to-day on Operational and Technology Risk governance practices across ERM functions as well as Legal, Compliance, Regulatory and Industry Affairs and Corporate Audit to further enhance the connectivity of ERM processes

• As a member of the senior management team for Risk Management, the role works closely with other risk management leaders in the general management of the ERM function.

• Lead and manage a multi-jurisdictional team of professionals ensuring that there are clear lines of reporting, authority levels, objectives and progress against performance priorities

• Develop and manage the planning and budgets for the Operational and Technology Risk Management function (people, infrastructure, consulting) as assigned by the Chief Risk Officer

Qualifications:

• Minimum of 20 years of related experience in the Operational & Technology Risk capacity within the financial services industry including time spent managing in an executive capacity

• Experience developing/leading a global Risk Management Framework at the enterprise level.

• A strong analytical background with 10-15 years of experience in empirical data analysis, risk modelling and stress testing.

• Proven interpersonal and communication skills at both the executive and board level

• Detailed understanding of global regulatory requirements and demonstrated experience working directly with the regulators including in a remediation capacity

• Demonstrated experience evaluating risks and developing strategies to mitigate operational risks for a multi-jurisdictional global financial services company

• Deep knowledge and understanding of risk management principles and strategies as well as the emerging trends

• Highly organized with extensive problem-solving and negotiation skills

• GSIB experience an asset

• Graduate degree in Finance, Mathematics, Economics, or MBA preferred

Salary Range:

$300,000 - $412,500 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.