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Business Risk Manager, Global Markets, AVP

State Street Corporation
Boston, USA
Closing date
Jan 26, 2023

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Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Who we are looking for
The Business Risk Manager acts as a valued partner in the Foreign Exchange trading businesses in the identification, assessment, and mitigation of risk as well as the cultivation of a framework of practices that enables a balance of commercial considerations with the risk excellence objectives established by business leadership. The responsibilities will include the identification of risks, the analysis and the development of strategy around these risks as well as the coordination across different areas, regions and groups that have an involvement, contribute to or have a responsibility in handling and resolving these risks.
Foreign Exchange helps our clients mitigate the unique risks associated with foreign currency exchange trading execution. Depending on the clients needs, they can access:
  • Direct FX
  • Indirect FX
  • Street FX
  • eFX

Why this role is important to us
The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.
Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

What you will be responsible for:
Specific responsibilities will include but are not limited to:
  • Manage and execute risk management programs including product risk assessments (RCSAs), business line operational risk profile, control monitoring, risk acceptance, and Archer inventory management
  • Advise and support business change initiatives, projects, and the remediation of control gaps and deficiencies
  • Work with the business teams as well as second and third lines to establish and maintain a complete control inventory, assess control effectiveness, document self-identified issues, remediate operational incidents, and ensure compliance with regulations and corporate policies and standards
  • Support the assessment, implementation, and adherence to policies, procedures and guidelines prescribed by corporate functions and business partners such as Compliance, Enterprise Risk Management, Corporate Information Security, etc.
  • Facilitate and drive regulatory change management process including completion of business impact assessments and required process and control design changes
  • Establish and monitor Key Risk Indicators, drive reporting to governance committees, and escalate risks as appropriate
  • Contribute to key governance committees
  • Support implementation of corporate risk programs including complaints, conflicts of interest, sensitive positions, etc.
  • Manage business line procedural inventories and complete periodic reviews and updates
  • Develop and conduct business line training

What we value
1-5+ years of direct experience in risk management, compliance, or audit as well as having relevant experience with the operational and regulatory requirements.
These skills will help you succeed in this role:
  • Knowledge and experience with risk assessments, control design and effectiveness, and the establishment of monitoring activities, including key risk indicators
  • Independent strategic thinker with an understanding of regulation and operational risk within foreign exchange.
  • Strong organizational awareness with ability to facilitate and resolve conflicts; ability to make informed, risk optimized decisions under time pressure.
  • Ability to collaborate and work across multiple stakeholders
  • Attention to detail and a propensity to drive issues toward resolution.
  • Keen awareness and appreciation for teamwork and collaboration
  • Excellent verbal and written communication skills

Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.

Salary Range:
$90,000 - $142,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

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