Role Summary:
The Head of Operational Risk Officer UK reports to the Global Head of Operational Risk for State Street and is responsible for developing, directing and managing the overall operational risk management function within United Kingdom. The role is responsible for ensuring effective identification, measurement, control and management of the operational risks facing State Street SSBT London Branch and its affiliate legal entities in UK (ex. SSGA). The role will dually report to the Chief Risk Officer for UK (SMF4) and is responsible for ensuring that the respective risk programs address all relevant risks as well as corporate and local requirements; collaborating with ERM peers as well as with Legal, Compliance, Regulatory and Industry Affairs and Corporate Audit as appropriate.
Job Description
Operational Risk Executive Key Responsibilities
- UK lead supporting Corporate ORM on the global ORM framework design and advancement.
- Support Global ORM head to Develop, implement, review and manage risk management policies, procedures and systems within the Operational Risk function
- Support the UK CRO in developing, directing and managing overall UK non-financial risk management programs, including interactions with senior management and key regulators
- Contribute to the execution of the material risk identification framework covering UK businesses and functions in support of the global MRI programme
- Directing and managing the overall operational risk management programs in State Street UK to ensure effective identification, measurement, control and management of the relevant risks including:
- Risk Appetite: develop and monitor operational risk appetite limits for UK at legal Entity level. Analyze risks and recommend appropriate internal control improvements to ensure risks remain within appetite
- Framework Execution: oversee and challenge execution of related operational risk management programs working with the Legal Entity Heads of Risk Management, Senior EMEA risk managers and business leaders
- Provide direction, support and oversight to responsible business units and functions supporting UK Legal Entities (including outsourcing arrangements to intra-group business units)
- Support communication, trends, insights, emerging risks, key issues and information to Risk Meeting/UK Committees and across the three lines of defense.
- Oversight of Operational Risk Programs (e.g. RCSA, MRI, KRI's, operational incident capture and management).
- Provide risk reporting to the relevant businesses, committees and legal entity boards as required.
- Independently manage projects designed to improve UK non-financial risk management strategies.
Risk excellence
- Promote and supports a culture if effective challenge and drives a risk aware culture throughout the organisation
- Take reasonable decisions by exercising reasonable care when considering the information available. This includes taking proactive action to ensure that the information is suitable and adequate
- Provide clear and effective direction to ORM UK team members
- Maintain understanding of UK legal and regulatory developments and their impact on State Street’s business operations and support related to regulatory initiatives
- Coordinate and collaborate with other control functions and audit
- Develop and deliver risk management presentations internally and to clients
- Maintain the highest standards of conduct and integrity and ensure compliance with accepted industry practice, company policies and regulatory requirements and ensure that the team members do the same
- Promote the development of a risk culture within the business and ensure business line accountability for risk management and measurement
- Support a culture of effective challenge
Managerial
Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members’ behaviour in performing their roles
- Ensure staff has clear lines of reporting, authority levels, objectives and progress are reviewed regularly in line with Company policy to ensure effective delivery against both corporate and UK ORM agenda
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported
- Demonstrate the ‘Risk Excellence’ culture in your own and staff behaviour and ensure all staff maintain the highest standards of ethical conduct and integrity and ensure compliance with accepted industry practice, company policies, statute and regulatory requirements
Education and Experience
- Bachelor’s degree or equivalent.
- 10+ years risk experience and experience in the subject matter relevant to the business unit.
- Proven interpersonal and communication skills.
- Strong, organization, project management and leadership skills.
- Demonstrated analytical and problem-solving skills.
- Demonstrated decision-making skills.
- Team player with strong influencing skills.
- Ability to negotiate, influence and build consensus.
- Ability to develop and maintain strong business relationships within the business unit and across the corporation
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
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