About the position
The Global Treasury Audit Team Lead, Managing Director will lead our Corporate Audit's Global Treasury team, and will be responsible for engagements that focus on the Bank's Global Treasury (GT) practices established through Treasury's internal infrastructure, frameworks, policies, management reporting, and board reporting. In this role, the individual will lead a team of auditors to understand and assess risks related to GT's core functions including liquidity, the investment portfolio, asset-liability management (ALM), and funding/pricing. The individual will develop, own, and be accountable for the global client relationships and assurance plan over State Street's Treasury activities. This includes managing relationships with the functions, ensuring that audits are completed in compliance with the Corporate Audit Department and Institute of Internal Auditor (IIA) standards and developing audit teams skillsets. In this role you will be responsible for continuous monitoring over product development by the division and you need to possess in-depth knowledge and expertise in liquidity risk, interest rate risk, and control best practices. You will be responsible for managing personnel who have sound liquidity and ALM expertise within the financial services industry. As a key member of the Financial Risk Audit team, responsibilities include developing and maintaining strong partnerships to provide guidance/consultation in the development of strategies to improve performance, drive continuous improvement in processes, raising the bar of risk excellence for the firm and developing leaders of leaders as part of succession for Corporate Audit as well as the company. The successful candidate must be able to thrive in a fast-paced environment, communicate clearly to Executive Management and Regulators, and already possess strong management capabilities. The individual will report directly to the Department Head, Financial Risk Audit, Senior Vice President, and the role is based in Boston, Massachusetts.
Responsibilities
- Develop and lead a team of ~9 audit professionals for supervision over, planning, and executing complex audits and projects in Global Treasury.
- Define and execute a risk-based audit plan for coverage of Global Treasury, review and approve audit work products to ensure thorough effective coverage and timely and effective escalation of issues and conclusions.
- Globally, establish and maintain strong and effective client relationships with business management across the lines of defense and assist management in understanding and implementing / maintaining internal control principles.
- Participate as a non-voting member of various ALCO sub-committees, management working groups, promoting balanced discussions and encouraging challenge and debate.
- Identify, assess and monitor risks related to the bank's liquidity position and interest rate in the banking book. Analyze internal processes against regulations to ensure it is compliant with U.S. and non-U.S. regulatory requirements.
- Demonstrate strong knowledge of liquidity risk sound business practices and regulatory expectations and requirements.
- Stay abreast of industry matters and efficiently and effectively apply applicable new developments in audit projects.
- Champion continuous improvement in the department.
- Proactively engage in solving complex issues and engage in projects that may extend beyond own area of expertise, sharing expertise with colleagues and other departments.
- Manage, coach and develop staff, including participating in the talent management, staff evaluation, and new hire processes.
Requirements
- 15+ years of experience in auditing and first- or second-line Treasury / Risk roles (liquidity risk, asset-liability management, and/or portfolio management).
- 15+ years of increasing responsibilities in audit or controls related discipline in large financial institutions.
- 12+ years of managerial experience, with strong track record of leading, coaching, developing and motivating a team.
- Solid understanding of liquidity risk management practices and regulations.
- Bachelor's degree in Finance, Accounting, Business or related field.
- Advanced degree or certification, Certified Public Accountant (CPA), Certified Internal Auditor (CIA), or Chartered Financial Analyst (CFA) designation or its equivalent.
Nice-to-haves
- Detailed knowledge of key banking regulations, including Reg YY, Reg WW (LCR/NSFR), FR-2052a, BCBS 248, etc.
- Familiarity with relevant Safety and Soundness guidance for treasury and large bank.
- Highly seasoned professional understanding of internal liquidity stress testing, collateral, intraday and cashflow forecasting monitoring.
- Prior experience working with regulators through examinations and/or issue validations.
- Superior verbal and written communication skills; ability to articulate complex thoughts in a cogent, linear and method-driven manner and to assimilate information for senior executives concisely and appropriately for the situation at hand.
- Demonstrated experience in managing diverse teams and large-scale projects.
Benefits
- Generous medical care
- Insurance and savings plans
- Flexible Work Programs
- Development programs and educational support
- Paid volunteer days
- Matching gift programs
- Access to employee networks
