GM Bus/Project Manager,VP
- Location: London, England, United Kingdom
- Salary: Not Specified
- Job Type: Full time
State Street Role specifics The FX EMEA Business Risk team will oversee and manage significant business risks that have an impact to the region’s Sales & Trading and Research business. The risks are typically driven by changes or opportunities in markets, regulatory changes, or byState Street
The FX EMEA Business Risk team will oversee and manage significant business risks that have an impact to the region’s Sales & Trading and Research business. The risks are typically driven by changes or opportunities in markets, regulatory changes, or by new market entrants that have a direct impact to the Sales & Trading business. The responsibilities will include the identification of risks, the analysis and the development of strategy around these risks as well as the coordination across different areas, regions and groups that have an involvement, contribute to or have a responsibility in handling and resolving these risks. Specific responsibilities will include but are not limited to:
- Collaborate with Global Counterparts to define the professional standards for FX Sales, Trading and Research considering the Global Code that has been published by the BIS and adopted by all major central banks around the world and other Conduct and Business Standards that are established by the regulators such as the Fed, the FCA and relevant industry groups. Work closely with the banks other Control functions including the Trade and Communications Surveillance area, the Compliance area, the Legal group and the middle office and operations functions. Ensure FX Sales, Trading & Research is trained in the professional standards.
- Monitor FX incidents to ensure appropriate descriptions are provided including LETA write-ups, short descriptions for the Operational Risk database and escalation memos for the Senior Manager regime (SMR) for UK incidents.
- Provide support to the FX EMEA Business for major incidents (>$100k, Regulatory or Reputational issues) where controls remediation and client outreach are required to ensure the remediation and impact assessment is complete and accurate.
- Advise the FX EMEA business in creating or enhancing their Athena key controls. Collaborate with global counterparts to ensure globally consistent controls wherever feasible.
- Facilitate the annual FX EMEA and the Global eFX Risk & Control Self-Assessment (RCSA) workshops in order to assess Inherent & Residual Risk levels taking into account the Design and Operational effectiveness of key controls. This includes monitoring the Athena Controls database and the annual certification of key controls by the Business and supporting functions. Collaborate with global FX Business Risk counterparts to ensure globally consistent RCSA wherever feasible.
- Advise the FX EMEA business in creating or enhancing their Key Risk Indicators (KRI) and participate in the ERM Annual review of the KRIs.
- Support the FX Business when raising self-disclosed risk issues in ARCHER ensuring clear articulation of the Risk to the business and documenting Action Plans that mitigate the risks and can be delivered within the agreed time-frame. Review and challenge to ensure known FX EMEA issues are raised appropriately in ARCHER as self-disclosed issues.
- Support the FX business during Internal Audits and Compliance Reviews to assess Risk statements and documenting Action Plans that mitigate the risks and can be delivered within the agreed time-frame. Monitor CATS and Axentis items and ensure items are closed in a timely manner.
- Maintain documentation relating to the risk framework, procedures and standards relating to business practices as well as developing the necessary training and contributing to developing a culture of risk excellence.
- Coordinate FX EMEA response to the GM Business Control Executive (BCE) central risk programs and FLOD Assurance. Attend bi-weekly GM EMEA Business Control Executive and Business Risk meeting.
- Work with Compliance to ensure consistency in controls between the Compliance CVR database and Athena controls, including areas where Compliance are introducing new or enhanced control requirements. Support Compliance in their Controls testing if they need access to the business.
- Provide FX EMEA inputs to the monthly EMEA Trading & Markets Risk Committee and support the EMEA FX managers for any actions that require closure.
- Attend eFX Risk & Control Quarterly meeting and support the eFX business in preparing materials.
- Ensure the banks compliance, ethics and other standards and requirements for the Sales and Trading business is adopted, monitored, supported.
Skills and Experience
- A minimum qualification of a Bachelor’s Degree. An MBA or a PhD is preferred
- Strong analytical ability and able to synthesize complicated concepts and structure the related business impact clearly
- Superior communication skills, including the ability to present to all levels of the organization, as well as externally. Ability to communicate thematically high as well as at a detailed level when required
- A strong knowledge of the Foreign Exchange business or some associated area that impacts the Foreign Exchange business (Risk, Credit, Liquidity, Financing, Clearing, Middle Office & Operations)
- A risk management aptitude and a business development capability including the ability to drive results by working effectively within the organization and influencing across all levels of the organization
- Practical understanding of the foreign exchange business, local markets, regulations, operations and associated credit, liquidity, financing, and clearing knowledge
- Strong team player, able to work within the regional structure and the global structure of State Street. Ability to interact with different areas of the bank, both in Global Markets and the broader bank, and work with different levels of personnel in handling common issues
- Highly motivated, self-sufficient, innovative, able to challenge status quo, develop or advance ideas and work with small teams as well as represent the business at senior levels when required