Risk Director, Vice President

State Street   •  

Boston, MA

Not Specified years

Posted 179 days ago

This job is no longer available.

The Finance/Global Treasury Operational Risk Executive (ORE) is accountable as part of the Second Line of Defense (SLOD) for developing and maintaining an independent holistic view of the Operational risk and controls in their assigned business unit or function.  Mainresponsibilities include:
• Provides SLOD oversight review and monitoring of the Operational risks of the business unit to ensure they are proactively identified prudently managed and effectively challenged in the context of business strategy with a commitment to risk excellence integrity and professionalism in working with the business

• Participates in business strategy sessions risk committees staff meetings one-on-one meetings and other communication forums that allow for Operational risk oversight dialogue and awareness.  Regular communication takes place with other ERM risk teams across the globe to promote best practices information sharing and awareness

• Drives Operational risk awareness within the business units and fosters a culture of risk excellence

• Works to strengthen the collaboration and coordination between ERM Compliance Audit and Legal in order to enhance the effectiveness and efficiency of Operational risk oversight

• Oversees development and implementation of the SLOD Operational risk program for their assigned business including implementation of the elements of the corporate Operational risk framework

• Provides independent oversight and challenge of the certain  risk programs executed by the First Line of Defense including Risk & Control Self-Assessment (RCSA) and Material Risk Inventory (MRI)

• Challenge will be documented for regulatory and internal audit inquiry purposes

• Ensures that operational riskevent thresholds set by the business are reasonable given the size and scope of the business and are consistent with business units with similar risk exposures.  Challenge the business units’ selection of risk measures and tolerance levels

• Reviews and challenges operational eventreports submitted by the business unit including the adequacy of event description classification status and timeliness of submission
• Oversee successful delivery of all risk and controls initiatives in accordance with relevant policies and framework(s)

• Provides executive management with a holistic view of Operational risks and controls to support  informed decision making
• Monitors the control environment effectiveness based on available information sources and defined metrics aligned to the relevant risk appetite statements