Head of ICAAP EMEA, VP (Risk)

  • Market Rate
  • London, England, United Kingdom
  • Permanent, Full time
  • State Street UK
  • 28 Sep 16

The purpose of the role is to act as the primary representative for Risk Management on Capital Adequacy (ICAAP) in EMEA, including preparation, planning and execution.

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

Our promise to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Join us.

Purpose of Role :

The purpose of the role is to act as the primary representative for Risk Management on Capital Adequacy (ICAAP) in EMEA, including preparation, planning and execution.

In its role the successful candidate will provide close coordination of all Risk Management workstreams and deep technical understanding of the Capital Adequacy process, in order to lead the enhancement and harmonization of ICAAP methodologies across State Street entities in EMEA.

He or She will report to the EMEA Head of Risk Stress Testing and ICAAP, based in London.

Major Responsibilities :

  • Lead and coordinate Risk Management responsibilities on the annual Capital Adequacy process, i.e.:

    • Risks identification

    • Capital limits

    • Risk quantification

    • Stress testing and scenario analysis

    • Risk aggregation

    • Capital Adequacy

  • Coordinate all Risk Management workstreams on risk quantification, including methodology upgrade and execution on all risk areas, i.e., credit risk, market risk, operational risk, securitization risk, other risks

  • Act as key liaison between Risk Management sub-functions (e.g., Credit risk, Market risk, Operational risk) and CCAR infrastructure of State Street Corporation in US

  • Lead Risk Management practice evolution and harmonization across State Street entities in EMEA

  • Oversee and support production of Risk Management reports for ICAAP

  • Support ICAAP documentation production and consolidation, including detailed review

  • Lead and support the preparation of project progress status, issues escalations, problem solving, etc.

  • Document end-to-end key process steps, controls & checks, roles and responsibilities of the different stakeholders within Risk Management 

Managerial responsibilities

  • Develop effective working relationships and communications cross all workstreams, within Enterprise Risk Management and with other involved Functions (e.g., Global Treasury, Finance)

  • Establish and monitor systems of review and escalation procedures so that ICAAP complies with internal policies and external regulations and can be managed effectively

  • Ensure that appropriate management information is produced and reviewed at appropriate intervals

  • Support a culture of effective challenge to ensure appropriate governance 

Individual contributions

  • Effectively lead the internal ICAAP practice upgrade and execution across State Street entities in EMEA

  • Develop a deep understanding of the technicalities behind each workstream

  • Effectively collaborate with the wider Risk Management organization in EMEA as well as with US colleagues

  • Develop good working relationships and pro actively co-operate with colleagues of other involved Functions (e.g., Global Treasury, Finance)

  • Perform key tasks, with clear focus on deliverables quality and timing

  • Support other Risk Management areas as needed

Level of Education/Specific Qualifications:

  • Degree/ Post-graduate degree in finance, business, economics or related fied.

Skills and Experience:

The successful candidate can demonstrate significant experience within a Risk Management function, either within Financial Institutionsor arecognised Consulting Firm.

He/She must be a strong team player with the ability to work in a multinational environment under stress conditions. Strong PMO skills and written/oral communication ability required.

Further requirements include

  • Sound knowledge of the Single Supervisory mechanism led by the European Central Bank and overall European regulatory environment (e.g., Basel III and CRDIV/CRR)

  • Strong end-to-end ICAAP experience

  • Broad risk knowledge across Pillar I and Pillar II risks

  • Deep knowledge of stress tests and scenario analysis

  • Relevant experience in governance and process implementation Effective written and verbal communication skills and ability to work effectively with colleagues at all levels, including senior management

Required Competencies

  • Good interpersonal skills and personal leadership

  • Strong analytical and problem-solving skills as well as the ability to adequately prioritize tasks and responsibilities

  • Ability to work under pressure with attention to detail and quality of final deliverables

  • Ability to take ownership and initiative, to negotiate, influence and build consensus and successfully navigate in the demanding and international environment of a leading global financial institution

  • Demonstrated high energy and strong motivation to add value to the organization

  • Proficient use of MS Office applications

  • Strong English language skills