VP - Financial Regulatory Assurance VP - Financial Regulatory Assurance …

State Street Corporation
in Hyderabad, Andhra Pradesh, India
Permanent, Full time
Be the first to apply
State Street Corporation
in Hyderabad, Andhra Pradesh, India
Permanent, Full time
Be the first to apply
State Street Corporation
VP - Financial Regulatory Assurance
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $32.6 trillion in assets under custody and administration and $2.8 trillion in assets under management as of March 31, 2019 , State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. Clients include mutual funds and other collective investment funds, corporate and public pension funds, global hedge funds, and global banking organizations as counterparties to trading businesses. Founded as a bank in 1792 in Boston, Massachusetts, State Street employs more than 36,000 people. For more information, visit State Street's website at www.statestreet.com .

State Street recognizes that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility - to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills.

The Financial and Regulatory Assurance (FRA) department as an independent, Second Line of Defense control function within the Finance organization has a mission to:
  • Provide credible challenge to management to drive compliance with regulatory and policy requirements
  • Support executive management and the board by reporting on the effectiveness of key financial and regulatory processes
  • Advise in the proactive identification of operational and compliance risks and effective mitigation strategies through effective business partnership
  • Offer risk and control insights to improve business results predicated on collaborative business partnerships

Reporting to the SVP, Head of Controllership in Bangalore , the Vice President will provide leadership and oversight of FRA's teams in the India hub locations. In coordination with the onshore FRA Program leads, the Vice President will support the execution of the annual review plans for the SOX, Regulatory Reporting, Basel, CCAR and Resolution and Recovery Planning programs through effective and efficient execution of key activities including th e execution of risk assessment, internal control testing, monitoring and reporting capabilities. As part of the transformational change in Financial and Regulatory Assurance and as a member of the extended leadership team, the Vice President will drive initiatives focused on increasing the stature of the function, provide value-added perspective and opinion on the strength of the control environment and compliance-related activities , and influence compliance and risk management strategies both within and beyond Finance.

The group will work alongside the established three lines of defense and complement and extend existing programs on a global level, working in conjunction with:

  • The first line of defense, which includes the Business Control Executives (BCE),
  • Compliance and other second line groups, including Enterprise Risk Management and
  • Internal Audit as the third line of defense

  • Build and continuously develop a dedicated team to achieve and sustain and an effective Second Line of Defense function and best-in-class controls oversight framework
  • Deliver annual risk-based plans to assess the effectiveness of the First Line of Defense, and serve as an increasing basis of reliance for the Third Line of Defense and the external auditors
  • Serve as a subject matter expert to Controllership and stakeholders on internal controls and risk mitigation strategies
  • Establish and maintain collaborative relationships with stakeholders and partners
  • Develop a deep understanding of the global business model, corporate functions activities, products, and processes to support a risk- based approach to controls oversight and monitoring
  • Influence and direct methodologies, approach and reporting capabilities resulting in c ontinuous improvement of the operating model
  • Support the cultural change efforts across the Controller's organization to drive enhanced individual accountability, closer interaction with the business and increased stature of the Controller's network in oversight of the controls that are outside the SOX process

Company Overview

From technology and product innovation to corporate responsibility and community development, 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 - strengthening markets, building communities and creating opportunities for growth.

We owe that longevity to the commitment, expertise and creativity of our employees. Our continued success depends on our ability to attract and develop the best talent in the industry. That's why we're keenly focused on employee development, corporate citizenship and inclusion.

For us, success comes in the mark we make as an organization - for the industry, our clients, our communities and each other.