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.

Discover more at StateStreet.com/careers

Salary Range:

$60,000 - $101,250 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.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

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.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

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Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.