Head of Operational Risk Insights, Analytics & Monitoring

Boston, Massachusetts
State Street Corporation
Head of Operational Risk Insights, Analytics & Monitoring page is loaded Head of Operational Risk Insights, Analytics & Monitoring Apply locations Boston, Massachusetts New York Hong Kong, China London, England Clifton, New Jersey time type Full time posted on Posted 30 Days Ago job requisition id R-742461 Role Summary: The Head of Operational Risk Insights, Analytics & Monitoring is a senior leadership position within the Operational Risk Foundational Programs Team. The role holder provides leadership and technical oversight for Business Intelligence(BI) , Data Analytics (DA), and Operational Risk Monitoring Programs; inclusive of Operational Risk Appetite & the Key Risk Indicator Program. The role will require the leader to interface with a diverse group of stakeholders; including, senior management, risk and control owners, Business Executives, COOs, Audit, and regulators. The leader is expected to be deeply engaged during high-impact events such as Operational Risk Management program development and regulatory remediations. This role requires a senior leader who is a hands on strategic thinker and problem solver who is willing to roll up their sleeves to get into the data and deliver intelligence to drive effective operational risk management The leader needs to be data-driven with strong technical and business acumen. The role requires in-depth experience with designing, implementing and managing an Risk Appetite, KRI, BI and DA programs. This team will be responsible for developing and managing the holistic risk profile for operational risk in a way that facilitates strategic planning and decision making. The role is global in nature and will require excellent communication, negotiation and partnership skills in order to influence a wide variety of stakeholders, including external regulators. Key Responsibilities Include:

• Understand the Operational Risk Foundational Program integrated business model and strategy to develop ways to leverage BI and DA to drive timely and efficient risk management decisions.
• Define the operating model and related organizational support structure to deliver on the capabilities of the integrated Monitoring, Insights & Analytics Program. (BI, DA, KRI & Risk Appetite)
• Ensure requirements, methodologies, policies, processes, reporting and aggregation tools are in line with regulatory expectations and industry standards.
• Ensure the programs have a clear philosophy, purpose, and connectivity to the rest of the Operational Risk Management Framework so that its role in enabling effective management of operational risk is understood.

• Foster relationships with key stakeholders globally across the First & Second lines of defense to ensure clear allocation of responsibilities for their role in the identification and assessment.
• Responsible for building and managing a high performing team which oversees BI, DA, Operational Risk Appetite and KRIs for State Street.
• Acts as a key liaison with regulatory agencies, internal and external advisors and other internal control groups on BI, DA, Risk Appetite & KRI

Business Insights & Data Analytics:

• Build and operate a connected data analytics and insights capability that translates high-quality data and intelligence across the operational risk management program / lifecycle into clear, well-structured, communication and insights (i.e. comprehensive risk profile)
• Build analytical and visualization tools which inform risk limit allocations, enable granular data driven risk analysis and offer quantitative analysis to management for consideration
• Partner with peer leads of foundational programs to develop advanced methodologies and techniques to drive consistent aggregation and residual risk determinations for the Company, Lines of Business and Legal Entities.
• Actively identify new areas of inquiry and use cases to drive analytic approaches to identify / evaluate existing and emerging operational risks.
• Manage the global risk reporting center of excellence, with an aim towards modernizing operational risk reporting, creating consistency and improving overall efficiency.
• Design, implement and deliver a robust operational risk profile which demonstrates trends and delivers timely proactive information on operational risk to decision makers and action takers.

Operational Risk Appetite Program :

• Engage with stakeholders within Risk and across business segments to design, update and enhance the firm’s statement of operational risk appetite framework; including, establishing linkages between risk appetite, the firms strategic planning and risk identification processes.
• Engage with the business as part of the Companywide Business Planning Process and ensure alignment between the firm’s strategic plan and operational risk appetite / related measure limits approved by Operational Risk.
• Define minimum requirements for SLOD oversight / challenge practices and execution against a cascaded risk appetite for State Street
• Develop training strategy and related materials to support the initial transformation and ongoing education of the Company for KRI / Monitoring
• Design and deliver reports which clearly communicate Operational Risk Appetite, measure against that quarterly and related conclusions about the control environment for a variety of audiences including the Board & Senior Management.

Key Risk Indicator Program:

• Engage with stakeholders within Risk and across business segments to manage, update and enhance the key risk indicator framework in an manner which integrates with the risk identification and risk appetite capabilities within the Operational Risk Management Program.
• Drive the development and implementation of risk monitoring standards for the FLOD
• Define minimum requirements for SLOD oversight / challenge practices for KRI
• Develop training strategy and related materials to support the initial transformation and ongoing education of the Company for KRI / Monitoring
• Develop insights, solutions and reporting on KRI outcomes for senior management and core constituents to harness.
• As a member of the Operational Risk Foundational Programs leadership team, contribute to the

Qualifications:

• Minimum of least 12 years of management experience in financial services with a proven track record for achieving operational excellence and delivering impact across a portfolio of programs.
• Experience with risk appetite, limits calibration and business planning required.
• Experience building and managing a team of operational risk officers as well as engineers, data scientists and machine learning practitioners to deliver distinctive products and solutions
• Advanced subject matter expertise in operational risk.
• Extensive experience with predictive analysis, data visualization
• Knowledge of modeling concepts / developing analytics and leading indicators, as well as SQL, and other tools
• Detail oriented with a demonstrated ability to independently manage and prioritize a book of work spanning change the bank and run the bank activities.
• Strategic thinker with a demonstrated ability to distill complex, ambiguous information to create effective solutions and insights for leaders.
• Ability to quickly analyze the status quo and identify opportunities for continuous improvement or re-engineering.
• Equivalent to a university degree in computer science, business, accounting or related field. Additional academic degree (e.g., MBA, doctorate) preferred.

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.

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