Capital Management - Business Unit Risk and Control Specialist, Assistant Vice President

State Street•Boston, MA

About The Position

Capital Management, a unit of Global Treasury, is seeking an individual to be responsible for supporting our First Line of Defense (FLoD) efforts to identify risk and establish an effective control framework. This position is perfect for an individual with a strong interest in joining a top-tier financial services firm and has experience with risk assessment, internal controls, and program/project management. The Global Capital Management Team, within the Global Treasury organization, oversees State Street’s capital planning, monitoring, and analytics. The group manages our capital position and capital ratios as well as manages and executes our annual CCAR submission and internal quarterly stress testing. We work collaboratively with the Global Treasury Risk Management (GTRM) function to ensure we are managing capital within firm policies, limits and risk tolerance while meeting regulatory expectations promulgated by the Federal Reserve, the FDIC and other regulators globally. Functional areas include capital planning and forecasting, stress testing, recovery and resolution planning and project management. Capital Management is a key business partner for all client-facing business units, sales teams, and relationship managers. This individual will play a key role in ensuring Capital Management Team continues to operate in a control environment that meets 2nd, 3rd LOD’s and regulatory expectations.

Requirements

Well-developed analytical, interpretative and interpersonal skills
Organization skills with the ability to prioritize work while also be adaptive and responsive to change
Excellent verbal and written communication skills
Problem Solving and Decision Making – develop solutions and provide necessary guidance to ensure that effective decisions are reached
Ability to develop and lead various processes and initiatives
Proficient knowledge of regulatory capital requirements is strongly preferred
Ability to proactively identify potential risks, issues and self-id weaknesses to support FLOD
Bachelor’s degree or MBA in Finance, Accounting, Business or related fields
4-6 years of financial services experience; compliance, assurance, audit or risk preferred
Advanced excel and power point skills

Responsibilities

Assist the Stress Testing PMO and various stakeholders to facilitate CCAR and internal quarterly stress testing execution in compliance with regulatory expectations and internal controls
Assist in developing, coordinating, and reviewing of State Street’s Annual Capital Plan
Assist in the CCAR live audit and the FRB exam
Support management in developing and managing the FLOD program to ensure effective identification, measurement of relevant risks, execution of controls and issue management.
Perform periodic risk and controls self-assessment (RCSA) as required
Assist with the development, implementation and execution of controls, incorporating in relevant procedures and guidelines as needed
Maintain an inventory of regulatory obligations and perform periodic regulation gap assessments
Assist in requests and inquiries from Internal Audit, BRM, and Regulators.
Assist management in the development and maintenance of policies, procedures and guidelines designed to facilitate compliance with laws and regulations and internal standards
Collaborate with the Data Governance Group to ensure compliance with data governance standards (BCBS 239) and initiatives
Manage ad hoc projects and duties as assigned

Benefits

our retirement savings plan (401K) with company match
insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages
paid-time off including vacation, sick leave, short term disability, and family care responsibilities
access to our Employee Assistance Program
incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans)
eligibility for certain tax advantaged savings plans
inclusive development opportunities
flexible work-life support
paid volunteer days
vibrant employee networks