Business Risk Manager (Product Office) - Vice President

Who We Are Looking For?

The Business Risk Manager, Vice President is a valued partner in the Product Office in the identification, assessment, and mitigation of risk.  This individual will support a framework of practices that enables a balance of commercial considerations with the risk excellence objectives established by business leadership and provides support for all product controls for solutions being brought to market.

Successful candidates will have experience in risk management and demonstrated experience in sound risk management and governance practices.  The individual will partner across stakeholder groups to enhance risk, control, and operational management capabilities, improve the efficacy of the control environment, and better respond to regulatory guidance/mandates through the implementation of uniform governance and risk management practices. 

Who Are We?

The Business Risk Manager is a key contributor in the Product organization, playing a vital role in the identification, assessment, and mitigation of risk and ensuring appropriate controls are identified, implemented, tested and maintained.

Business Risk drives a culture of risk excellence and constant transformation within the Product organization, making relentless forward progress with respect to the reduction of residual risk.

Who Do We Serve?

Business Risk serves State Street’s clients, leadership, and employees by designing a strong internal control environment and providing assurance of its effectiveness to our Board.

The team you will be joining is a part of State Street Institutional Services (IS) Chief Product Office.

Why this role is important to us

The Business Risk Manager ensures risk management practices are followed and controls are implemented with firmwide risk and control objectives, assisting the Product organization with balancing risk management, improving business performance and bringing new Products to market.

What you will be Responsible For

• Participates in the Product Risk Committee to ensure policies, standards and procedures are appropriately documented and followed across Product teams
• Supports in developing, generating and reviewing appropriate metrics for review in Risk Committee
• Supports the facilitation of risk control self assessments (RCSAs) for each Product group and associated maintenance of control inventories in Archer across each Product group
• Supports control design and execution of control testing across all Products
• Reviews and validates all issue and incident closures and provides support during remediation processes
• Identifies control gaps and weaknesses that could lead to financial, reputational and or regulatory exposure and ensures they are getting the appropriate level of attention.
• Supports completeness of all open status risk identified items for the Product team
• Partners with Compliance, ERM in assessment of control design and effectiveness using business knowledge to ensure control strength is commensurate with the risk being mitigated.
• Supports the review and prioritization with the business of any serious control weakness identified through incidents or control assurance reviews.
• Partners with second and third line of defense to ensure awareness of changes in risk environment and where there are new emerging material risks.
• Collaborates across lines of defense to design, implement and monitor a control environment that effectively mitigates key risks inherent to digital assets and be a catalyst for positive change and continuous improvement
• Supports interpretation and application of evolving industry best practices and regulatory expectations

What we value

These skills will help you succeed in this role

• Significant experience in risk, compliance, and/or audit functions within a Product organization, preferably with experience in launching new products and services.
• Understanding of regulatory, operational, market, and technology risks in financial services, preferably within Product functions.
• Organizational awareness with ability to support the resolution of conflicts and ability to make informed, risk optimized decisions under time pressure.
• Demonstrated success as a change agent with the ability to execute on goals and objectives under challenging circumstances.
• Attention to detail and a propensity to drive issues toward resolution.
• Keen awareness and appreciation for teamwork and collaboration
• Superior verbal and written communication skills.
• Effective manager with the ability to develop and motivate a team
• Risk and control knowledge and experience for digital custody and tokenization a plus

Education & Preferred Qualifications

• Bachelor’s degree in accounting, finance, management
• 13+ years of experience in risk, compliance and/or audit functions within the financial industry.
• Strong interpersonal skills, proven ability to work independently and within a team
• Excellent communication, writing, data management, organizational, project management and co-ordination skills
• Strong critical thinking, problem solving, and decision making skills
• Must be organized, detail oriented, responsive and be able to adapt quickly to a rapidly changing environment

About State Street
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