Custody and Shared Services Risk Manager, Vice President | Quincy, MA, USA

Custody and Shared Services Risk Manager, Vice President

{"description": " Who we are looking for

A Custody and Shared Services Risk Manager, Vice President, for State Street's custody business who will be responsible for enforcing consistent risk management standards across the Custody and Shared Services organization. The Custody and Shared Services division is comprised of many different functions and risk units. They are: Transaction Services, Third Party Lending, Global Settlements, Banking & Payments, Investible Cash, Custody Management Services, Corporate Actions, Global Claims, Income, Tax, Reconciliations, Derivatives, Loans, ETFs and Data Operations. The Custody & Shared Services Risk Manager is responsible for creating and overseeing a consistent risk management governance framework for each of the functions and risk units to adhere to. In addition, this role will require the creation of division-wide executive management reporting, the establishment of division-wide risk management targets, and the management of a series of forums to enable strong alignment and accountability with global functional leads or their delegates.

This role will report directly into the Head of Custody and Shared Services, Executive Vice President, and work closely with teams across the functions in Custody and Shared Services. This role requires experience with risk management, implementing governance plans, executive reporting, and cross-functional stakeholder management. This person will require the ability to influence others outside of their direct reporting line.

Why this role is important to us

This role will play an important part in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk and to protect their assets. To make that happen, we need teams like this one to keep a watchful eye on our risks at a macro level and evaluate how we are mitigating those risks on a daily basis. This role will help us build resilience and help us manage our overall control environment tightly.

What you will be responsible for

As Custody and Shared Services Risk Manager, Vice President, you will:

• Manage division-wide risk scorecard process with support from functional representatives for consistent risk measurement and reporting.

• Oversee Risk Control Self-Assessment (RCSA) sessions for risk units, coordinate team training, and ensure alignment with Business Risk Management and second line of defense requirements.

• Ensure fund transfer compliance, policy implementation, and timely closure of audit findings or deficiencies.

• Drive incident and issue management, ensuring compliance, timely disclosure and effective remediation

• Engage with Enterprise Resiliency partners to remain on track with continuity plans throughout the year

• Partner with Risk, Compliance, and Audit teams to ensure organizational alignment across three lines of defense; represent division in risk forums as delegate.

• Create new governance or reporting as necessary to address areas of risk or concern

• Serve as coordinator to manage and close any division wide findings

• Manage escalations as necessary to help business units resolve challenges

• Hold Custody and Shared Service teams to a high standard to continuously improve our overall risk profile

What we value

These skills will help you succeed in this role:

• Build strong relationships with global business leaders and risk stakeholders.

• Proven ability drive outcomes with stakeholders outside of your reporting line

• Demonstrated ability to design and implement risk governance frameworks.

• Communicate risk expectations and requirements clearly to all teams.

• Drive operational excellence and continuous process improvement initiatives.

• Collaborate effectively across compliance, audit, and business risk functions.

• Adapt to change and manage multiple priorities simultaneously.

Education & Preferred Qualifications

• 10 + years' experience in operational risk management for large financial institutions

• Excellent presentation, communication, and collaboration skills

• Negotiation experience

• Fluent in English - oral and written - is a must

• Advanced degree(s) in business or a related field - a nice to have

• A can-do attitude coupled with a risk- and operational excellence mindset

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 environ