Head of Capital Basel Policy Review, Managing Director (Finance)

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 Basel Policy Review team performs independent reviews of the firms regulatory capital rule interpretations, including Standardized and Advanced Risk Weighted Asset (RWA) and Leverage Exposure under US Basel Rules and providing coverage across business units, functions and asset classes. The team provides a review and challenge of: i) new and changes in existing regulatory capital rule interpretations, ii) treatment and operational processes and procedures, iii) relevant contractual terms and their implications for interpretations, and, iv) accuracy and timeliness of risk parameters. The scope of review includes adherence to regulatory guidance, consistency with internal policies, and alignment with industry practices. The team also performs a review of capital rule application for new business initiatives and credit risk mitigation strategies. The Capital Basel Policy Review team prepares a formal review memo, identifies gaps and tracks remediation.

The Head of Capital Basel Policy Review manages a team of subject matter experts with a thorough understanding of capital rules, including Wholesale and Counterparty Credit Risk, Market Risk, Securitization, Operational Risk, Credit Valuation Adjustment (CVA), Equity Exposure, and other rules. The individual will chair the Basel Independent Review Council with members across Legal, Model Risk Management, ERM, and other stakeholders. The individual will oversee the end-to-end execution of reviews of first line capital rule interpretations, formalize an opinion, and present results to relevant committees. The role requires knowledge and understanding of US Basel Rules and working knowledge of upcoming key Basel regulations, e.g. Basel 3 endgame and FRTB. Familiarity with regulatory capital reporting is also preferred.

What you will be responsible for

As a Head of Capital Basel Policy Review, you will

• Oversee timely execution of capital rule interpretations
• Liaise and maintain effective communication with the Basel Policy and Regulatory Capital, Legal, Business, Finance and Risk to ensure a clear understanding of the implementation of US Basel Rule requirements and associated governance processes
• Assess the application of US Basel Rules and calculation of RWA
• Proactive communication to senior management of any concerns and/or emerging risks
• Identify deficiencies in capital rule interpretations, treatment, accuracy/timeliness, and governance, which allows for incorrect RWA or Leverage Exposure calculations
• Evaluate action plans aimed to remediate deficiencies identified during the Capital Basel Policy Review and track remediation
• Communicate outcome of the independent review to senior management and the Basel Oversight Committee

What we value

These skills will help you succeed in this role

• Deep understanding and familiarity with US Basel Rules
• Experience in deconstructing complex transactions and understanding the underlying risks
• Excellent analytical skills with the ability to develop thesis and communicate findings in a clear and concise fashion
• Bank regulatory experience and close liaison with banking regulators is advantageous
• Strong interpersonal, relationship-building and communication skills required
• Ability to gain trust and respect of business partners
• Strong work ethic and highly organized to manage multiple deliverables
• Proficient in Microsoft Office (Word, Excel, and PowerPoint)

Education & Preferred Qualifications

• 15+ years of relevant experience in Treasury, Finance or Risk required
• Understanding of financial instruments across a wide range of businesses
• Understanding of bank balance sheet and income statement
• Bachelor degree required, Master degree in Finance, Economics, or in STEM subjects a plus

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:
$170.000 - $282.500 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 Minimum: 170Salary Maximum: 282.5