Business Risk Management Alternatives, Managing Director

State Street•Boston, MA

7d•$170,000 - $252,500

About The Position

The Managing Director, Business Risk Management Alternatives, is part of the Global Delivery Business Risk Management Leadership Team and the Alternatives Functional Leadership Team. The role provides strategic and tactical leadership over the effectiveness of the risk and control environment for business-as-usual activities, transformation, and remediation of risk areas. It partners with the Alternatives business and wider Global Delivery organization to identify, assess, mitigate, monitor, and report risks, while ensuring risk practices align with firmwide objectives and regional requirements. The role requires strategic engagement with the business, deep knowledge of financial services and State Street products and services, and the ability to translate risk and control requirements into business strategy. It serves as a liaison with internal departments, regulators, and external parties on non-financial risks; supports globally consistent risk and control practices; and develops a team of business risk professionals. The position also involves leading change, managing stakeholders across a global matrixed organization, and delivering risk reduction and operational excellence. Alternative Investment Solutions provides integrated fund accounting, fund administration, and risk services to private equity, hedge funds, and private credit funds. These services cover front-, middle-, and back-office needs and are a focused growth area for State Street.

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.
In-depth domain knowledge in risk and compliance, process and control reviews, and change risk management.
Deep knowledge of the financial industry and State Street products and services.
Proven ability to lead and drive risk and control strategies and risk culture change.
Proven ability to lead and develop high-performing operational teams.
Experience with change management programs in risk sponsorship or leadership roles, with successful delivery of risk objectives including risk reduction.
Ability to execute under challenging circumstances and deliver targeted outcomes.
Ability to think strategically and manage complexity, change, and multiple priorities.
Ability to manage, coach, and influence colleagues and virtual team members.
Excellent time management, presentation, and communication skills across clients, third parties, executives, peers, and subordinates, using multiple communication formats.
Ability to work successfully in a matrixed environment, manage multiple stakeholders, prioritize organizational needs, and resolve conflicting directives.
Cross-cultural awareness and ability to collaborate with colleagues globally and work effectively with people from varying backgrounds.
Relevant graduate degree or master’s qualification.

Responsibilities

Partner with the Alternatives business to identify, assess, and mitigate risk, collaborating with the wider 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 Alternatives leadership and aligned with regional requirements.
Understand and engage with the overall business strategy, and translate 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 across business-as-usual activities, transformation, and remediation.
Understand the organization’s strategy and critical success factors to challenge and report on the Alternatives risk profile and potential operational exposures, and monitor risk reduction.
Coordinate with Global Delivery Business Risk Management to ensure appropriate global coverage.
Liaise and coordinate with internal departments, regulators, and external parties on non-financial risks to align risk practices with firmwide risk and control objectives.
Support implementation of globally consistent risk and control practices.
Develop the team of business risk professionals to deliver risk excellence across operational activities.
Lead risk and control strategies and risk culture change, including risk sponsorship or leadership in change management programs.
Manage, coach, mentor, and influence colleagues and virtual team members; lead and develop high-performing operational teams.
Navigate a global, matrixed organization, build stakeholder relationships, manage priorities, and resolve competing directives.
Achieve or exceed financial goals through expense discipline and headcount management.
Optimize technology and manage operational risk while maintaining service quality for clients.