Head Of Operational Risk Identification & Assessment

Role Summary:
The Head ofOperational Risk Identification & Assessment is a senior leadership position within the Operational Risk Foundational Programs Team. The role holder plays a critical role in defining how State Street identifies/assesses Operational Risk and uses these assessments to drive improvements across the firm. The role is responsible for three key framework capabilities which deliver an effective integrated Risk Identification & Assessment Program: inclusive of Business Process Management (BPM), Internal Control (IC), Risk & Control Self-Assessment (RCSA).
Must have built RCSA programs from ground up, Rolled them out and managed
The role will require the leader to interface with a diverse group of stakeholders involved or affected by the integrated Risk Identification & Assessment Program, special projects and remediations. Stakeholders may include senior management, risk and control owners, Business Executives, COOs, Audit, and regulators. The leader is expected to be deeply engaged during high-impact events such as Operational Risk Management program development and regulatory remediations. This leader will provide specialist Operational Risk knowledge, guidance and insights to transform and deliver a reimagined integrated Risk Identification & Assessment Program.
This role requires a senior leader who has extensive knowledge of global regulatory requirements, supervisory guidance and industry best practices. The role requires in-depth experience with designing, implementing and managing an integrated Risk Identification & Assessment Program.
The role is global in nature and will require excellent communication, negotiation and partnership skills in order to influence a wide variety of stakeholders, including external regulators.
Key Responsibilities Include:
* Support the Head of Operational Risk Foundational Programs in developing the integrated Risk Identification & Assessment strategy that improves Operational Risk management, strengthens internal controls and enables profitable growth within the organizations risk appetite.
* Define the operating model and related organizational support structure to deliver on the capabilities of the integrated Risk Identification & Assessment Program (BPM, IC & RCSA)
* Ensure requirements, methodologies, policies, processes, reporting and aggregation tools are in line with regulatory expectations and industry standards.
* Ensure the integrated Risk Identification & Assessment Program has a clear philosophy, purpose, and
* Connectivity to the rest of the Operational Risk Management Framework so that its role in enabling effective management of Operational Risk is understood.
* Lead a team which will:
* Design, implement and manage execution of the business process management, internal control, and Risk & Control Self Assessment programs.
* Design, implement and manage a business process management program which enables the effective identification of risk and controls through the integrated process, risk and control program.
* Refine, deploy and monitor an Internal Control Framework which clearly establishes standard practices, control definition and measures to enable effective testing / monitoring required to mitigate Operational Risks throughout the organization.
* Define minimum requirements for SLOD oversight / challenge practices and execution across State Street for all integrated Risk Identification & Assessment capabilities.
* Own the strategy, design and execution of the applications within the GRC solution; transforming the existing implementation to align to the enhanced integrated Risk Identification & Assessment Program
* Develop training strategy and related materials to support the initial transformation and ongoing education of the Company across BPM, RCSA & Internal Control
* Develop insights, solutions and reporting on business process, risk and control outcomes for senior management and core constituents to harness.
* Partner with the OR Monitoring, Analytics, and Insights Team to provide leadership for the concepts and methods used to quantify risk exposure and develop predictive measures in evaluating risk / control data - ensuring approaches are rigorous, forward looking and easy to understand by senior management.
* As a member of the Operational Risk Foundational Programs leadership team, contribute to the success of the overall team by ensuring coherence and effectiveness of the Operational Risk Management Framework, supportive growth of team members and successful engagement across the 3 lines of defense.
* Build lasting and effective relationships across State Street to strengthen connectivity and understanding between Risk Identification and assessment methodologies and practical application / adoption by the FLOD, ERM, Compliance and Legal Entity stakeholders.
* Manage key stakeholders at all levels across State Street to drive strategic priorities and objectives.
* Foster relationships with key stakeholders globally across the First & Second lines of defense to ensure clear allocation of responsibilities for their role in the identification and assessment.
* Responsible for building and managing a high performing team which oversees BPM, RCSA and the Internal Control Framework for State Street.
* Acts as a key liaison with regulatory agencies, internal and external advisors and other internal control groups on the integrated Risk Identification & Assessment Program
Qualifications:
* Minimum of least 10 years of management experience in financial services with a proven track record for achieving operational excellence and delivering franchise wide RCSA transformation initiatives.
* Advanced subject matter expertise in Operational Risk is a must.
* Experience across Operations, Risk Management and / or Audit roles which require the management of diverse risk types including Operational Risk.
* Detail oriented with a demonstrated ability to independently manage and prioritize a book of work spanning change the bank and run the bank activities.
* Strategic thinker with a demonstrated ability to distill complex, ambiguous information to create effective solutions and insights for leaders.
* Ability to quickly analyze the status quo and identify opportunities for continuous improvement or re-engineering.
* Equivalent to a university degree in finance, business, accounting or related field. Additional academic degree (e.g., MBA, doctorate) preferred.
* Experience with US regulations as well as a strong working level of knowledge with European and Asia Pacific regulations.
Salary Range:
$170,000 - $267,500 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.