AVP – Non-Financial Risk Management

About the company:

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.

State Street, Manila a subsidiary of State Street Corporation (STT) in Philippines, operates as a captive (Global Capability Center or GCC).

About the Job Description:

Bank Level: Assistant Vice President

Business Line: Non-Financial Risk Management (NFRM)

Location: Manila, Philippines

This position reports locally to State Street Manila GCC head and functionally to the Manila NFRM Lead

Who we are :

The independent risk management function, collectively Non-Financial Risk Management (NFRM), is State Street Corporation (SSC) Second Line of Defense (SLOD); we complement the business line’s risk activities through its monitoring and reporting responsibilities. Amongst other things,

- The role is responsible for overseeing State Street’s risk-taking activities, and assessing risks and issues independently from the business lines and provides advisory, thought leadership, oversight, monitoring, and remediation of enterprise wide risks.

- The role is responsible for coordinating the identification and management of State Street’s Compliance Risk, designing and executing State Street’s firmwide Compliance Program, developing an independent aggregate view of State Street’s compliance risk exposure, and providing periodic updates to the E&A Committee of the Board of Directors regarding the state of compliance and effectiveness of the Compliance Program.

Role responsibilities:

Advisory & Business Enablement:

• Ensure effective identification, assessment, monitoring, escalation, and management of compliance and operational risks for State Street Manila
• Keep abreast of applicable regulatory changes, identify and interpret rules that will be applicable to State Street in Philippines
• Provide day-to-day second-line advisory support to local management and business teams
• Provide independent challenge to the First Line of Defense (FLOD) on compliance and operational risk areas, implementation of applicable global policies/standards and programs on a day-to-day basis , on control design and effectiveness, incl. for incoming / new functions onboarded
• Guide the prioritization of FLOD efforts and influence decision-making on activities that create Non-Financial Risk exposure

Oversight & Controls, Risk Reporting:

• Execute and maintain the Compliance Oversight Program and Operational Risk Management Programs as they apply to State Street Philippines (as primary support location)
• Effective identification, measurement, control and management of Non-Financial risks, incl. monitoring trends in key risk indicators and incident management
• Contribute to establishment of appropriate local policies and procedures
• Perform risk assessments, testing, and monitoring exercises required under the Compliance and Operational Risk Management Programs incl. Risk Control Self-Assessment (RCSA) program and provide second-line challenge to address control gaps
• Engage regional and global Compliance and Operational Risk Management stakeholders and the legal entity leadership team; as required
• Act as a key liaison with regulators, internal and external advisors, and control functions on Manila compliance and risk-related issues
• Support preparation of quarterly Governance risk reports and dashboards and provide commentary on risk trends

Additionally, the role includes, but is not limited to:

• Promote a strong risk culture in State Street Philippines, including awareness of and compliance with Non-Financial Risk related policy requirements
• Demonstrate an understanding of local regulatory requirements applicable to Philippines Legal entity, overall financial markets and technology, and build further knowledge as necessary
• Maintain the highest standards of conduct and integrity

The ideal candidate will have most or all of the following attributes:

• Candidates should have banking / regulatory environment experience (min. +5 years) gained in Operational Risk management, compliance risk management and/or internal control in a financial services environment.
• Professional qualification (CA/CFA), a law degree, or a degree in Finance, Accounting, Business Administration or related discipline from a reputed school ; and/or experience working in a Risk Advisory practice with Big 4 firms (added advantage).
• Good working knowledge of the conduct of business rules and local regulatory requirements that relate to securities firms/banks.
• Strong communication, project management, and organizational skills
• Strong analytical and problem-solving skills, with sound judgment and pragmatic mindset; while maintaining attention to detail
• Ability to work independently and collaboratively; as well as to manage competing priorities
• Clear written and strong verbal communication skills
• Team player with a desire to learn (or deepen knowledge) on compliance and risk matters impacting financial services
• Proven interpersonal skill to develop and maintain business relationships within the business unit and across the corporation.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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