Business Risk Management Alternatives, Managing Director

State Street • Boston, MA

9d • $170,000 - $252,500

About The Position

The Business Risk Management Alternatives Managing Director is part of the Global Delivery Business Risk Management Leadership Team and the Alternatives Functional Leadership Team. The role provides strategic and tactical leadership on the effectiveness of the risk and control environment across business-as-usual activities, transformation, and remediation of risk areas. Alternative Investment Solutions provides integrated fund accounting, fund administration, and risk services to private equity, hedge fund, and private credit funds, and is a focused growth area for State Street.

The position partners with the Alternatives Business to identify, assess, and mitigate risk, working with the wider global Global Delivery Business Risk Management organization and business teams. It ensures consistent adoption of the Business Risk Management framework, principles, and methodologies while taking account of regional requirements. The Managing Director understands the business strategy and critical success factors, challenges and reports on the Alternatives risk profile, monitors operational exposures and risk reduction, and supports globally consistent risk and control practices.

The role also coordinates with internal departments, regulators, and external parties on non-financial risks; collaborates with Global Delivery Business Risk Management to ensure appropriate global coverage; and develops a team of business risk professionals. The successful candidate brings senior leadership, financial services or risk management experience, enterprise risk leadership across regions, and the ability to lead change and deliver risk objectives in a complex global organization.

Requirements

• Over 15 years of experience within financial services or risk management, in non-financial risk management or business management.
• Enterprise leadership skills managing risk across regions.
• Experience interfacing at a senior level with clients, service providers, and regulators.
• Strong team leadership, coaching, mentoring, communication, and presentation skills.
• Ability to navigate a large global organization, build meaningful relationships, and develop an effective network.
• Ability to work successfully in a matrixed environment, manage multiple stakeholders, prioritize organizational needs, and resolve competing directives.
• Proven leadership and experience managing and developing high-performing operational teams.
• Excellent time management, presentation, and communication skills across clients, third parties, executives, peers, and subordinates, using multiple communication formats.
• Proven track record of achieving or exceeding financial goals through expense discipline and headcount management.
• Experience in change management programs in risk sponsorship or leadership roles, with successful delivery of risk objectives including risk reduction.
• Demonstrated ability to execute under challenging circumstances and deliver targeted outcomes.
• Cross-cultural awareness and ability to collaborate with colleagues globally and work effectively with people from varying backgrounds.
• Energy, enthusiasm, commitment to service quality, and focus on client delivery.
• Ability to think strategically and manage complexity, change, and multiple priorities.
• Relevant graduate degree or master’s qualification.

Responsibilities

• Partner with the Alternatives Business to identify, assess, and mitigate risk in collaboration with the global Global Delivery Business Risk Management organization and business teams.
• Ensure the Business Risk Management framework, principles, and methodologies for identifying, analyzing, monitoring, and minimizing business risks are consistently adopted by the Alternatives leadership team, with alignment to regional requirements.
• Understand and engage with the overall strategy of the business, translating risk and control requirements into the Alternatives and Global Delivery strategy.
• Provide strategic and tactical leadership on the effectiveness of the risk and control environment for business-as-usual activities, transformation, and remediation of risk areas.
• Challenge and report on the Alternatives risk profile and potential operational exposures, and monitor risk reduction in light of the organization’s strategy and critical success factors.
• Work with Global Delivery Business Risk Management to ensure appropriate global coverage.
• Liaise and coordinate with internal departments, regulators, and other external parties on non-financial risks to align risk management practices with firmwide risk and control objectives.
• Support the implementation of globally consistent risk and control practices.
• Develop the team of business risk professionals and promote risk excellence across operational activities.
• Lead and drive risk and control strategies and risk culture change.
• Manage, coach, mentor, and influence colleagues and virtual team members, and lead high-performing operational teams.
• Manage financial goals through expense discipline and headcount management.

Benefits

• Retirement savings plan (401K) with company match.
• Insurance coverage including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
• Paid time off, including vacation, sick leave, short-term disability, and family-care responsibilities.
• Access to an Employee Assistance Program.
• Incentive compensation, including eligibility for annual performance-based awards, subject to stated exclusions.
• Eligibility for certain tax-advantaged savings plans.
• Inclusive development opportunities, flexible work-life support, paid volunteer days, and employee networks.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive