Vice President, Operational Risk

State Street•Boston, MA

About The Position

The Vice President, Operational Risk is a senior First Line of Defense (1LoD) role responsible for strengthening operational risk management and the control environment across the business. The role partners with business leaders and process owners to identify and assess risks, establish effective controls, monitor emerging risks, and drive timely remediation of control gaps and issues. The position provides risk oversight and challenge for new products, processes, technology implementations, and business change. It partners with Compliance, Operational Risk, Internal Audit, and other oversight functions while reinforcing clear first-line ownership and accountability, and promotes a strong risk culture and proactive identification and escalation of risk.

Requirements

Strong experience in operational risk, business risk and controls, operations, audit, compliance, or internal controls.
Experience with RCSAs, control design, KRIs, issue management, remediation, and root cause analysis.
Strong analytical skills with the ability to identify risks and translate them into practical business controls.
Proven ability to influence and constructively challenge senior stakeholders.
Strong written, verbal, and executive-level communication skills.
Bachelor’s degree or equivalent relevant professional experience.

Nice To Haves

Experience in operational risk, business risk and controls, operations, audit, compliance, or internal controls, preferably within financial services.

Responsibilities

Partner with business leaders to identify, assess, and manage operational risks.
Lead and support Risk and Control Self-Assessments (RCSAs) and ongoing risk assessments.
Evaluate control design and effectiveness and identify opportunities to strengthen the control environment.
Develop and monitor Key Risk Indicators (KRIs), risk thresholds, and management reporting.
Analyze operational incidents, control failures, and emerging risks, including performing root cause analysis.
Drive remediation of risk and control issues, ensuring actions address underlying root causes.
Provide risk oversight and challenge for new products, processes, technology implementations, and business change.
Prepare and present risk reporting to senior management and governance forums.
Partner with Compliance, Operational Risk, Internal Audit, and other oversight functions while reinforcing clear first-line ownership and accountability.
Promote a strong risk culture and proactive identification and escalation of risk.

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, with certain sales-role exceptions.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.