Head of Capital Risk Management (SVP)

State Street•Clifton, NJ

About The Position

Head of Capital Risk Management (SVP) Role Summary: The Head of Capital Risk Management (SVP) will lead the independent risk oversight and assessment of State Street’s capital position and capital management framework within Enterprise Risk Management. The scope includes i) Second Line Comprehensive Capital Analysis Review (CCAR) and Quarterly Stress Testing (QST) responsibilities, ii) review and challenge of Risk Weighted Asset (RWA) interpretations, iii) review and challenge of Recovery and Resolution Planning (RRP) and budget processes iv) capital risk appetite and limit framework ownership and management and v) capital risk policy ownership and management and iv) Material Risk Identification process ownership and management. Other Key Responsibilities Include: Execute Financial Risk Quarterly Stress Testing requirements. Develop, implement and manage the capital risk appetite framework. This includes a limit framework, escalation procedures and the associated governance, and infrastructure. Develop, implement and maintain the capital risk policy. Develop and implement a review and challenge framework for RWA interpretations. Review and challenge capital planning activities including CCAR, RRP and budget processes and results. Lead the Material Risk Identification process. Communicated capital risk related matters across all hierarchy levels including senior management and the Board. Drive dialogue of implementation and enforcement of Second Line framework within first line; work closely with Treasury management to ensure ownership and accountability of responsibilities. Ensure that breaches of risk tolerance and identified deficiencies are addressed by accountable parties. Serve as a senior voice in critical forums including the Asset Liability Committee and the Management Risk and Capital Committee. RRP global manager and administration for Enterprise Risk Management. Work closely with legal entity First and Second Line management to ensure compliance with both local and global requirements. Provide Second Line risk impacts to regulatory capital for new products and business expansion. Develop and implement a reporting framework which facilitates the dissemination of relevant information and conforms to internal and external requirements. Lead regulatory interaction as it pertains to capital risk management. Build and/or maintain effective relationships with senior global regulators. Lead and manage a multi-jurisdictional team of ~20 professionals with clear lines of reporting, authority levels, objectives and progress against performance priorities. Work with Information Technology and risk model development to design and implement appropriate data and analytics platforms.

Requirements

Minimum of 15 years of related experience in the financial services industry including time spent managing in an executive capacity in a large global financial institution.
Senior First or Second Line capital markets experience including, for example, capital raising, derivatives, treasury management or portfolio management.
Proven experience with regulatory management and regulatory remediation.
Strong analytical skills involving securities valuation, portfolio analytics and risk management.
Proven negotiation, interpersonal and communication skills at both the executive and board level.
Demonstrated experience evaluating risks and mitigating financial risk.
Deep knowledge and understanding of risk management principles and strategies and emerging trend.

Responsibilities

Execute Financial Risk Quarterly Stress Testing requirements.
Develop, implement and manage the capital risk appetite framework.
Develop, implement and maintain the capital risk policy.
Develop and implement a review and challenge framework for RWA interpretations.
Review and challenge capital planning activities including CCAR, RRP and budget processes and results.
Lead the Material Risk Identification process.
Communicated capital risk related matters across all hierarchy levels including senior management and the Board.
Drive dialogue of implementation and enforcement of Second Line framework within first line; work closely with Treasury management to ensure ownership and accountability of responsibilities.
Ensure that breaches of risk tolerance and identified deficiencies are addressed by accountable parties.
Serve as a senior voice in critical forums including the Asset Liability Committee and the Management Risk and Capital Committee.
RRP global manager and administration for Enterprise Risk Management.
Work closely with legal entity First and Second Line management to ensure compliance with both local and global requirements.
Provide Second Line risk impacts to regulatory capital for new products and business expansion.
Develop and implement a reporting framework which facilitates the dissemination of relevant information and conforms to internal and external requirements.
Lead regulatory interaction as it pertains to capital risk management.
Build and/or maintain effective relationships with senior global regulators.
Lead and manage a multi-jurisdictional team of ~20 professionals with clear lines of reporting, authority levels, objectives and progress against performance priorities.
Work with Information Technology and risk model development to design and implement appropriate data and analytics platforms.