What are the responsibilities and job description for the Global Treasury Audit Team Lead, Managing Director position at State Street?
What you will be responsible for
The Global Treasury Audit Team Lead, Managing Director will lead our Corporate Audit’s Global Treasury team, and will be responsible for engagements that focus on the Bank’s Global Treasury (GT) practices established through Treasury’s internal infrastructure, frameworks, policies, management reporting, and board reporting. In this role, the individual will lead a team of auditors to understand and assess risks related to GT’s core functions including liquidity, the investment portfolio, asset-liability management (ALM), and funding/pricing.
The individual will develop, own, and be accountable for the global client relationships and assurance plan over State Street’s Treasury activities. This includes managing relationships with the functions, ensuring that audits are completed in compliance with the Corporate Audit Department and Institute of Internal Auditor (IIA) standards and developing audit teams skillsets. In this role you will be responsible for continuous monitoring over product development by the division and you need to possess in-depth knowledge and expertise in liquidity risk, interest rate risk, and control best practices. You will be responsible for managing personnel who have sound liquidity and ALM expertise within the financial services industry.
As a key member of the Financial Risk Audit team, responsibilities include developing and maintaining strong partnerships to provide guidance/consultation in the development of strategies to improve performance, drive continuous improvement in processes, raising the bar of risk excellence for the firm and developing leaders of leaders as part of succession for Corporate Audit as well as the company.
The successful candidate must be able to thrive in a fast-paced environment, communicate clearly to Executive Management and Regulators, and already possess strong management capabilities. The individual will report directly to the Department Head, Financial Risk Audit, Senior Vice President, and the role is based in Boston, Massachusetts.
Why this role is important to us
The audit team plays an important role in the overall success of the organization. Across the globe, the firm, relies on us to help them manage risk, respond to challenges, and drive performance and profitability; regulators rely upon us to provide assurance that the bank operates in a manner that is compliant with key banking regulations to properly manage risks to the company and the global financial systems.
What you will be responsible for
- Develop and lead a team of ~9 audit professionals for supervision over, planning, and executing complex audits and projects in Global Treasury.
- Define and execute a risk-based audit plan for coverage of Global Treasury, review and approve audit work products to ensure thorough effective coverage and timely and effective escalation of issues and conclusions.
- Globally, establish and maintain strong and effective client relationships with business management across the lines of defense and assist management in understanding and implementing / maintaining internal control principles.
- Participate as a non-voting member of various ALCO sub-committees, management working groups, promoting balanced discussions and encouraging challenge and debate.
- Identify, assess and monitor risks related to the bank’s liquidity position and interest rate in the banking book. Analyze internal processes against regulations to ensure it is compliant with U.S. and non-U.S. regulatory requirements.
- Demonstrate strong knowledge of liquidity risk sound business practices and regulatory expectations and requirements.
- Stay abreast of industry matters and efficiently and effectively apply applicable new developments in audit projects.
- Champion continuous improvement in the department.
- Proactively engage in solving complex issues and engage in projects that may extend beyond own area of expertise, sharing expertise with colleagues and other departments.
- Manage, coach and develop staff, including participating in the talent management, staff evaluation, and new hire processes.
What we value
- Role model behavior in cross-cultural awareness and ability to connect with colleagues globally in establishing and maintaining a collaborative and inclusive work environment.
- Strong leadership, execution and management skills with confidence to gain trust and credibility, and an ability to develop a high performing team by promoting collaboration and innovation at all levels.
- The ability to manage complexity, effectively prioritize multiple tasks and work independently on non-routine situations and in a face-paced environment.
- Detailed knowledge of key banking regulations, including Reg YY, Reg WW (LCR/NSFR), FR-2052a, BCBS 248, etc. Also, familiarity with relevant Safety and Soundness guidance for treasury and large bank.
- Highly seasoned professional understanding of internal liquidity stress testing, collateral, intraday and cashflow forecasting monitoring.
- Prior experience working with regulators through examinations and/or issue validations.
- Superior verbal and written communication skills; it is vital that the candidate possess the ability to articulate complex thoughts in a cogent, linear and method-driven manner and to assimilate information for senior executives concisely and appropriately for the situation at hand.
- Demonstrated experience in managing diverse teams and large-scale projects.
Education & Preferred Qualifications
The following are required:
- 15 years of experience in auditing and first- or second-line Treasury / Risk roles (liquidity risk, asset-liability management, and/or portfolio management).
- 15 years of increasing responsibilities in audit or controls related discipline in large financial institutions.
- 12 years of managerial experience, with strong track record of leading, coaching, developing and motivating a team.
- Solid understanding of liquidity risk management practices and regulations.
- Bachelor’s degree in Finance, Accounting, Business or related field.
- Advanced degree or certification, Certified Public Accountant (CPA), Certified Internal Auditor (CIA), or Chartered Financial Analyst (CFA) designation or its equivalent.
Additional requirements
While majority of the time you will work from your primary location, some domestic and international travel may be required to a variety of locations where State Street operates.
Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.
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.
Discover more at StateStreet.com/careers
Salary Range:
$170,000 - $267,500 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 : $170,000 - $267,500
