What are the responsibilities and job description for the Capital Planning Review, Vice President position at State Street Corporation?
Who we are looking for
Global Treasury Risk Management (GTRM), a group within State Street's Enterprise Risk Management (ERM) Financial Risk department, is looking for a Head of Capital Basel Policy Review to join its Capital Risk Management function.
The goal of ERM is to ensure that State Street's risks are proactively identified, well-understood, and prudently managed in support of our business strategy. As such, ERM provides risk oversight, support, and coordination to ensure consistent identification, measurement and management of all risks arising from the provision of products and services to our clients.
GTRM acts as the business-aligned risk function responsible for the independent oversight of State Street's Global Treasury activities. Global Treasury's core functions include managing State Street's capital position, investment portfolio, asset-liability risk, liquidity risk, funding and liability pricing, and rating agency relationships. GTRM plays a critical role in the overall success of the organization and is responsible for identifying, analyzing, monitoring State Street's key financial risks including capital risk, liquidity risk, interest rate risk, investment portfolio mark-to-market risk.
The Capital Risk Management function, which reports to the Head of Global Treasury Risk Management, focuses on oversight of the firm's capital risk, ensuring that the firm has sufficient level and appropriate composition of capital. As part of its mandate, Capital Risk Management is responsible for setting and monitoring limits across regulatory risk-based and leverage-based ratios (e.g., CET1, Tier 1 Capital, Supplementary Leverage Ratio), and escalating limit breaches. The team also executes independent review and challenge of Recovery and Resolution Planning (RRP) activities, documents its review and challenge, and reports results of the review to senior management and respective committees.
The VP will be responsible for proactive reviews of RRP activities including : tabletop and other preparedness testing; scenario design, narratives, methodology and results; evaluate assumptions, limitations and data quality issues; perform a review of capabilities testing; review of contingency actions and prioritization; review RCAP / RCEN trigger calibration; governance and processes related to RRP. The individual will execute end-to-end reviews, prepare review memos and supporting materials, and present results to senior management and relevant committees.
The role requires a thorough understanding of regulatory requirements including SR 15-18, Resolution Plan Final Guidance, SR 12-17, SR 14-8, capital planning, RRP governance and internal control processes. Excellent written and verbal communication skills are required.
The role may support other Capital Risk Management activities (e.g., calibration of capital risk limits and review of capital rule interpretations) as necessary.
What you will be responsible for
As a Vice President on the Capital Risk Management team, you will :
- Review and challenge the capabilities enabling Recovery and Resolution Planning efforts including the comprehensiveness of the inventory and accuracy of capability attributes
- Analyze the reasonableness and completeness of Recovery and Resolution stress testing and projection assumptions, methodologies and results.
- Document review and challenge results and supporting materials
- Liaise and maintain effective communication with the first line Recovery and Resolution team, Capital Management, Finance and Risk to execute a review of the RRP activities and associated governance processes
- Proactive communication to senior management of any concerns and / or emerging risks
- Evaluate action plans aimed to remediate deficiencies identified during the RRP review and track remediation
- Communicate outcome of the independent review to senior management and the respective committee
What we value
These skills will help you succeed in this role
Education & Preferred Qualifications
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 :
125.000 - $200.000 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.
Job Application Disclosure :
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
State Street's Speak Up Line
Salary : $125 - $200
