Business Risk Advisory, Assistant Vice President

State Street Corporation
Hong Kong, Hong Kong
May 22, 2022
May 24, 2022
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Who we are looking for
State Street's Securities Finance (SF) division encompasses three products: Agency Lending, Enhanced Custody, and Alternative Financing Solutions. These products allow State Street clients to generate income, facilitate short sales, or generate financing through the lending and borrowing of securities.
The SF Business Risk Advisory (BRA) team is responsible for coordination of all First Line of Defense (FLoD) activities across the global SF business. SF BRA works closely with the Front and Back Office teams of the division to address and mitigate operational, regulatory and technology risks. In doing so, SF BRA coordinates across the business and with other partner teams and second and third lines to ensure the proper processes and controls are in place to effectively address risk, minimize operational errors, and ensure compliance with corporate policy, regulations, and laws. This Head of Securities Finance Business Risk Advisory in APAC role is responsible for coordinating and executing SF BRA activity in the Asia Pacific (APAC) region, covering all regional teams and client activity in support of the global SF BRA mandate.
The successful candidate will have an awareness of risk management concepts, excellent communication, writing and organizational skills, an interest in working with and analyzing data, familiarity with the financial services industry, and the ability to work well in a dynamic team environment. This position will report directly to the Global Head of SF Business Risk Advisory, with a dotted line to the APAC Head of Securities Finance and will be focused on risk business risk management within the Asia Pacific (APAC) region.

Why this role is important to us
The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.
Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

What you will be responsible for
As Business Risk Advisory you will
  • Lead all FLoD efforts for SF in the APAC region
  • Advise on policies, procedures and controls across the front to back Securities Finance business in APAC
  • Explore and understand all business incidents reported in and impacting APAC clients and teams
  • Identify and assist in the remediation of control and process gaps to support an effective control environment
  • Maintain an updated and accurate controls inventory in the corporate GRC system
  • Contribute to key governance forums, both global and in the APAC region
  • Assist in the preparation and execution of key risk assessments in coordination with the SF Front and Back Office business teams
  • Support collaboration with other departments (e.g. Risk Management, Internal Audit, Legal, Compliance etc.) to direct issues through appropriate channels for investigation and resolution
  • Support assurance activity impacting the SF business, and coordinate any resulting remediation efforts as necessary
  • Escalate any perceived violations of rules, regulations, policies, procedures and recommend a course of action
  • Understand, analyze, and interpret the evolving industry, market or regulatory changes or practices in the APAC region that have an impact to the business from a risk perspective and coordinate related implementation efforts in conjunction with Compliance
  • Coordinate the implementation of corporate and/or regulatory programs and projects within the SF business and support teams in APAC
  • Ensure that corporate compliance, ethics, policies and other standards and requirements for the SF business are adopted, monitored, supported within the APAC region

What we value
These skills will help you succeed in this role
  • Excellent communication, writing, data management, organizational, project management and co-ordination skills
  • Ability to work accurately to tight deadlines
  • Proactive approach, and the capacity to work both independently and as part of a team

Education & Preferred Qualifications
  • Minimum 8 to 10 years of relevant experience in audit, compliance, operations or business risk in the financial services industry, with particular emphasis on the securities lending industry preferred
  • Strong knowledge of global markets concepts

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs 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 perspectives 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 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 programs and access to employee networks that help you stay connected to what matters to you.

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