Compliance Risk Testing Analyst, Assistant Vice President - London, United Kingdom - State Street

Description

We are looking for a Compliance Risk Testing Analyst to work with a team of professionals to develop and execute regulatory testing and controls testing to provide reasonable assurance that State Street is complying with applicable laws, regulations, and internal policies. As part of a collaborative global team, you will contribute to Compliance Risk Testing plan development, and lead the execution of strategically important testing. This position is perfect for an individual who has experience with risk assessment, internal controls, compliance or audit functions.

The role can be performed in London or Edinburgh, (3 days on site, 2 days remote).

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As a Compliance Risk Testing Analyst you will:

• Lead process walkthroughs and design monitoring and testing activities for areas deemed to be of higher focus
• Perform an analysis of evidentiary data and draw conclusions as to the adequacy and effectiveness of business controls or whether a regulatory obligation has been breached
• Ensure that workpapers are thorough, well-organized, and support the work executed, including evidence of exceptions identified
• Draft reports that are appropriate for executive level consumption to clearly communicate results, risks, and key issues
• Maintain current knowledge of regulators' focus areas, recent enforcement actions, and industry practices generally

What we value

These skills will help you succeed in this role

• Excellent written, verbal, and interpersonal skills
• Ability to effectively prioritize multiple tasks and work collaboratively as part of an international team across multiple locations with global stakeholders
• Ability to evaluate detailed business data and test results with healthy skepticism and an understanding of when and how to challenge
• Inclusive mindset that recognizes the value of building relationships across a diverse global team and demonstrate an ability to work across cultures with adaptability and flexibility
• Enthusiasm for learning and an aptitude to learn quickly, and the motivation to use thought leadership to continue to grow the Compliance Risk Testing Team

Education & Preferred Qualifications

• Bachelor's degree (or equivalent)
• Relevant work experience in a corporate testing or audit function within the financial services sector and/or related experience managing complex audit or testing operations, or related projects
• Experience with Asset Management and/or U.S. Core Banking Regulations is a plus
• CPA, CIA, CISA or other applicable certification preferred

Who we are looking for

With immediate effect we are looking for UK Regulatory Liaison & SMRO Officer, Assistant Vice President to join State Street Bank &Trust branch in London. As a member of UK Corporate Compliance team, this role will focus on supporting both the head of UK Regulatory Liaison and the Senior Management Regime Office. The main focus of the role is to assist with the management of all regulatory requests from the UK regulators, liaising with stakeholders across the bank to assist with deliverables along with administration of the Senior Manager Regime. The role will also assist in the production and collation of monthly MI that will form part of the Compliance Risk Reporting to the UK Conduct and Compliance Committee and other committees and forums as necessary.

This role can be performed in a hybrid model, where you can balance work from home and office (3 days per week) to match your needs and role requirements.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As UK Regulatory Liaison & SMRO Officer you will

• Assist with the management of regulatory exams and deliverables
• Attend regulatory meetings to take minutes of key themes and actions
• Manage the regulatory deliverable tracker
• Upload information to the Regulatory Reporting System as per Compliance Regulatory Liaison procedures, where required
• Prepare regular reporting to forums such as the UK Conduct and Compliance Committee (UK CCC)
• Manage and execute the non-financial regulatory reporting for in scope UK entity reporting, via RegData/BEEDS, including responsibility for updating the associated desk procedures, as required
• Manage the Risk Mitigation Plan (RMP) process, to include, maintenance of the RMP Master Tracker, pursue monthly updates on RMP progress for reporting to the UK CCC

Typical SMRO activity for this role will include:

• Administration duties around the ongoing maintenance of Management Responsibilities Maps, and Individual Statements of Responsibility.
• Administration of the Certification Regime including the SMF & Certification register
• Monitoring and recording the branches' performance of their annual obligation under the Certification Regime and adherence to the regime (fit and proper assessment)
• Establish, coordinate and produce information and reporting via MI, dashboards, etc. highlighting areas of risk and non-compliance to evidence adherence to the SM&CR and associated conduct rules
• Manage and control the Training framework to achieve consistency in knowledge and application of SM&CR regulatory obligations; ensuring all SMFs and Certified staff are trained on the Conduct rules
• Administer the SMR Office tools / systems
• Work with other compliance teams and HR to ensure relevant controls are in place and being adhered to, so record keeping is accurate and key processes followed

Individual Contributor will:

• Support and encourage the culture of 'Risk Excellence' across the business and operate with a high moral code
• Provide appropriate management information as required to support decision making
• Ensure that the highest level of the Code of Conduct is displayed in your behaviour
• Display a culture of individual ownership of tasks to embed a clear individual sense of accountability in performing the role
• Adhere to limits of delegation and escalation procedures required by your manager so that you comply with internal policies and external regulations

What we value

• These skills will help you succeed in this role
• Attention to detail / analytical skills
• Stakeholder management / effective influencing
• Good communication skills
• Teamwork
• Ability to work in a pressurized environment

Education & Preferred Qualifications

• Degree qualified, or of graduate calibre, or hold relevant Compliance Qualifications, or have appropriate experience for the role.
• Experience in a Regulatory environment in financial services or experience gained in monitoring or advisory compliance is preferable.
• Knowledge of the FCA and PRA rulebooks and regulatory expectation in the UK and awareness of some other global regulatory expectations.
• Knowledge of UK financial services regulatory landscape - with ability to explain SM&CR requirements to others and understand its application to different business models
• Proven business analysis skills (data integration and manipulate) and experience of project management.
• Demonstrated strong ability to map process flows and determine effective controls to mitigate risks

Are you the right candidate? Yes

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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.

State Street is an equal opportunity and affirmative action employer.

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