Custody and Shared Services Risk-Officer

Who we are looking for  

A Custody and Shared Services Risk Officer for State Street’s custody business who will be responsible for enforcing consistent risk management standards across the Custody and Shared Services organization. The Custody and Shared Services division is comprised of 14 different functions and risk units. They are:Transaction Services, Third Party Lending, Global Settlements, Banking & Payments, Investible Cash, Custody Management Services, Corporate Actions, Global Claims, Income, Tax, Reconciliations, Derivatives, Loans, ETFs and Data Operations. The Custody & Shared Services Risk Officer is responsible for creating and overseeing a consistent risk management governance framework for each of the functions and risk units to adhere to. In addition, this role will require the creation of division-wide executive management reporting, management of division-wide risk management targets, and coordinating a series of forums to enable strong alignment and accountability with global functional leads or their delegates. 

This role will report directly into the Custody and Shared Services Risk Manager, Vice President, and work closely with teams across the functions in Custody and Shared Services. This role requires experience with risk management, implementing governance plans, executive reporting, and cross-functional stakeholder management.  

Why this role is important to us 

This role will play an important part in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk and to protect their assets. To make that happen, we need teams like this one to keep a watchful eye on our risks at a macro level and evaluate how we are mitigating those risks on a daily basis. This role will help us build resilience and help us manage our overall control environment tightly. 

What you will be responsible for 

As Custody and Shared Services Risk Officer, you will: 

• Manage division-wide risk scorecard process with support from functional representatives for consistent risk measurement and reporting. 

• Assist in Risk Control Self-Assessment (RCSA) sessions for risk units, coordinate team training, and ensure alignment with Business Risk Management requirements and second line of defense requirements. 

• Ensure fund transfer compliance, policy implementation, and timely closure of audit findings or deficiencies. 

• Drive incident and issue management, ensuring compliance, timely disclosure and effective remediation 

• Engage with Enterprise Resiliency partners to remain on track with continuity plans throughout the year 

• Partner with Risk, Compliance, and Audit teams to ensure organizational alignment across three lines of defense. 

• Create new governance or reporting as necessary to address areas of risk or concern 

• Serve as coordinator to manage and close any division wide findings  

• Manage escalations as necessary to help business units resolve challenges  

• Hold Custody and Shared Service teams to a high standard to continuously improve our overall risk profile 

What we value 

These skills will help you succeed in this role: 

• Build strong relationships with global business and risk stakeholders. 

• Demonstrated ability to implement and support risk governance frameworks. 

• Communicate risk expectations and requirements clearly to all teams. 

• Drive operational excellence and continuous process improvement initiatives. 

• Collaborate effectively across compliance, audit, and business risk functions. 

• Adapt to change and manage multiple priorities simultaneously. 

Education & Preferred Qualifications 

• 5+ years’ experience in risk management in operations for large financial institutions 

• Excellent presentation, communication, and collaboration skills 

• Proven ability to build relationships with stakeholders 

• Fluent in English – oral and written – is a must 

• Degree(s) in business or a related field – a nice to have 

• A can-do attitude coupled with a risk- and operational excellence mindset 

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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program 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 perspective 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 the 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 program 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.