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Mid-level AVP role overseeing compliance and operational risk at State Street Mumbai
Manage risk programs, monitor regulations, and drive RCSA initiatives for financial institutions.
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 Corporate Services Mumbai Private Limited (SS Mumbai), a subsidiary of State Street Corporation (STT) in India, operates as a captive (GCC) in India. It has offices in six different cities in India: Mumbai, Bangalore, Hyderabad, Pune, Chennai, and Coimbatore.
About the Job Description
Bank Level: Assistant Vice President
Business Line: Compliance and Operational risk Management
Location: Mumbai
This position reports to the Principal Compliance Representative for State Street India.
Your responsibilities
- Oversee and manage the Compliance and Operational Risk Management Programs as they apply to State Street India
- Monitor external regulatory developments that could impact how compliance risk is assessed and managed, and stay current on events that may shift internal behaviors or operations
- Identify emerging risks by monitoring trends in key risk indicators and incident management
- Perform risk assessments, testing, and monitoring exercises required under the Compliance and Operational Risk Management Programs
- Challenge the First Line of Defense (FLOD) on compliance and operational risk areas; guide the prioritization of FLOD efforts and influence decision-making on activities that create Non-Financial Risk exposure
- Drive an effective Risk Control Self-Assessment (RCSA) program and provide second-line challenge to address control gaps
- Review quarterly Governance risk reports and dashboards (including India risk reports) and provide commentary on risk trends
- Engage regional and global Compliance and Operational Risk Management stakeholders and the legal entity leadership team as required
Additionally, the role includes, but is not limited to
- Demonstrate an understanding of financial markets and technology, and build further knowledge as necessary
- Complete assigned periodic training as required by corporate methodology (annually, quarterly, etc.)
- Ensure proper delivery of all relevant training to new hires and staff across locations
- Promote a strong risk culture in State Street India, including awareness of and compliance with Non-Financial Risk related policy requirements
- Maintain the highest standards of conduct and integrity
The ideal candidate will have most or all of the following attributes
- Around 8-12 years of relevant experience managing risk programs for financial institutions
- Professional qualification (CA/CFA), a law degree, or a degree in management (or equivalent) from a reputed school (preferred)
- Relevant professional qualifications in risk management (a plus)
- Experience working in a Risk Advisory practice with Big 4 firms (an added advantage)
- Fair knowledge of global and local regulations related to AML and data privacy (preferred)
- Strong communication, project management, and organizational skills
- Strong analytical and problem-solving skills, with a sense of urgency and the ability to work under pressure while maintaining attention to detail, prioritizing, taking responsibility, and working to tight deadlines
- Proficiency in the MS Office suite; knowledge of Tableau (preferred)
- Team player with a desire to learn (or deepen knowledge) on compliance matters impacting financial services
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.
Equal Employment Opportunity Notice
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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