Central Assurance Lead - EMEA, Vice President
- Location: London, England, United Kingdom
- Salary: Competitive
- Job Type: Full time
Central Assurance Lead - EMEA, Vice PresidentState Street's Business Control function focuses on mitigating risk from within the first line of defense (FLoD) through control monitoring and enhancement. The Central Assurance Program Team under the Business Controls Program Office is a critical component of Risk Management.
In this highly visible role, the successful candidate will report to the Head of the Central Assurance Team and will work collaboratively with business-aligned Controls Assurance Teams, Enterprise Risk Management, Compliance Managers, Business Process Owners and Audit thereby complementing and building on the control and risk infrastructure already in place. The Central Assurance Team Member is expected to review and evaluate end-to-end processes, identify and document key controls, and assess whether internal controls over regulatory and operational risks are properly designed and operating effectively.
This position is perfect for an individual with a strong interest in joining a top tier financial services firm and has experience with risk assessment and internal control methodology. The successful candidate must be able to thrive in a fast paced environment, learn superior project management skills, and already possess strong customer service capabilities. It is expected that in this role the candidate will need to dig deep and learn end-to-end compliance processes and the underlying regulatory requirements.
Principal duties and responsibilities include :
- Assist in building and development the Central Assurance Team in EMEA
- Act as main liaison and spokesperson for Central Assurance on the status of assurance reviews and other projects. Provide appropriate management information as required to support business unit decision making.
- Lead, coordinate, manage and execute central assurance events.
- Perform control assessments to determine regulatory and policy compliance as well as determine residual risk. As needed, collaborate with the business-aligned Compliance Managers or Business Executives to better understand the applicable regulatory requirements.
- Understand and be able to apply the FLOD's Business Controls Assurance Guide
- Review testing documentation to ensure that they are in accordance with FLOD methodology requirements and report on the result of the assurance events to the relevant parties.
- Act as an advisor to the first line in the area of risk assessment and controls development in all areas of operational risk, regulatory risk, emerging risk and fraud risk.
- Work with the first line business process owners to complete end to end business process control assessments and develop enhanced controls.
- Monitor and report on remediation steps and corrective action plans from control review findings to implementation
- Establish strong relationships with key functional teams including first line of defense business lines, Operational Risk, Compliance, and Internal Audit. Instill confidence by demonstrating credibility and expertise on control issues
- Maintain the highest level of personal integrity in all dealings thereby mitigating reputational risk to State Street and its customers
- Provide guidance to the first line, working with the second lines, for the development of monitoring controls such as KRI's and KPI's
- Manage service performance SLA's through regular reporting, communicating to the Compliance manager and in country representatives responsible for SLA oversight
- Think and act globally
- Participate in other projects as required
- Other tasks as required
Managerial duties and responsibilities include:
- Lead the Central Assurance team in EMEA, providing regular coaching and development
- Oversee team deliverables to ensure assurance events/key projects are delivered and maintained
- Develop effective working relationships and communications with direct reports and ensure that they are motivated, developed and supported
- Conduct regular performance reviews, managing day to day performance requirements
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into team members' behavior in performing their roles
- Ensure that the highest level of the Code of Conduct is displayed in your own and team behaviors
- Demonstrate the 'Risk Excellence' culture in your behavior
- Provide appropriate management information as required to support business unit decision making
- Identify training needs and ensure successful application of implementation of Business Controls testing methodology and trainings.
- Bachelor's degree in Finance, Accountancy, Business or related field
- Extensive work experience with internal control methodology, audit and/or testing
- Demonstrates ability to assess internal control design and operating effectiveness
- Strong business writing and verbal communication skills with the ability to clearly and concisely present issues to applicable parties
- Excellent critical thinking skills; ability to manage ambiguity; ask the right questions to obtain clear answers
- Excellent attention to details
- Strong organizational and time management skills; ability to manage own time in order to meet deadlines
- Strong analytical skills with demonstrated ability to exercise professional skepticism
- Ability to manage multiple simultaneous tasks in a high-pressure, deadline-driven environment
- Ability to work both independently and collaboratively
- Customer focused with the ability to effectively collaborate with individuals across business units/lines
- Team player
The following are strongly preferred:
- Knowledge of COSO internal Control - Integrated framework
- Experience in the financial services sector