Website State Street
This Job Listing is about State Street in London, England, United Kingdom 2022
Who We Are Looking For
With immediate effect, we are looking for experienced Senior Manager/ Director to manage a team of five senior compliance professionals and oversee all regular activities undertaken by the Institutional Services and Global Delivery (IS/GD) UKMEA teams to ensure adherence with the regulations, laws and corporate standards which impact the supported business groups. Successful candidate will provide support to the Head of Compliance UKMEA and Global Head of IS/GD Compliance with responsibility for assigned project work and staff.
The business lines currently incorporate Custody Services, Pricing and Valuations, Unit Dealing, Performance Services, Middle Office services, Global Client Coverage EMEA, Complex Operations (SSAS and SSMAS) and Depositary/Trustee Services (SSTL) in the following locations: UK (sites in London and Edinburgh), UAE (Abu Dhabi), KSA (Riyadh).
This role may be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements. Office locations are London or Edinburgh.
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 Head of IS/GD Compliance, Managing Director, you will be responsible for three main aspects:
- Role Specifics
- Execute and deliver the compliance regulatory oversight programs for State Street legal entities and incorporated business lines ensuring continuing compliance with relevant regulations
- Provide continuing advice and support to the business lines to anchor the Compliance function within the various legal entities and business lines. Produce written reports for the governance committees, legal entity boards, senior management and the UKMEA Head of Compliance on the delivery of Compliance programs indicating progress achieved and recommendations for action. Where required, present the conclusions of the reports to governance committees and senior management
- Act as main liaison and spokesperson for IS/GD UKMEA and Global Client Coverage EMEA on Compliance issues with the regulator/internal and external advisors on industry issues, regulatory queries and Compliance topics
- Required to keep abreast of all relevant legislative changes, analyse and interpret new or amended and provide guidance and advice as required to all business lines. Monitor regulatory change and ensure that the Business Senior Management teams are appropriately informed of any impact or regulatory risk so that they can discharge their duties. Contribute to the Regulatory Change Forum and associated forums
- Provide Strategic input and advice to the Management and Governance Committees ensuring all action points are implemented or completed from a compliance perspective
- Play an active role as member of the UK Compliance and Conduct Committee; and the Middle East Risk & Control Committee
- Lead, coordinate, manage, and execute Compliance related projects, particularly the Core Compliance Risk Assessment across all UK and Middle East teams. Manage, involve and mentor direct reports to lead and execute the items
- Lead in delivering the UK Conduct Risk Roadmap including refreshing, cascading and embedding the conduct risk framework; launching updated training; devising a new MI suite; undertaking periodic surveys of staff to identify potential issues and areas for improvement; and supporting SMF staff in ensuring they are taking reasonable steps to oversee the conduct of their teams
- Identify training needs and ensure successful implementation of Compliance training and education for all relevant staff for business lines
- Provide support to the UKMEA Head of Compliance and IS/GD Global Head of Compliance where required
- CASS Specific Responsibilities & Escalation
- Provide functional expertise to SMF responsible for CASS/CASS Office to maintain on-going compliance with the CASS source book
- Have relevant knowledge and understanding of the CASS sourcebook and keep abreast of proposed or upcoming changes to relevant section(s) of this rule book
- Advise CASS Office timely of required changes to the CASS Resolution Pack (CASS10) so that updates can be made within 5 days of occurrence
- Contribute to CASS RP and any other ad hoc requests for CASS information as necessary
- Participate in relevant CASS working groups and Committees as convened
- BE a SME regarding all matters that could have an adverse impact to State Street, its clients and its relationship with regulators will be escalated to the UKMEA Head of Compliance, relevant functional heads and legal entity boards, as appropriate
- Additionally, ensure any material CASS related matter will be escalated within one business day of being confirmed with the SSBTC Head of CASS and relevant functional heads, as appropriate
- Demonstrate the ‘Risk Excellence’ culture in your behavior
- Maintain a detailed understanding of the scope of the role’s managerial responsibilities and the competence of the staff reporting to you
- Ensure that your team has clear understanding of their reporting lines, authority levels, scope of responsibilities (including those delegated to them and those they delegate), objectives, training and competency requirements plus progress is reviewed regularly in line with Company policy, and are regulatory registered where appropriate for their role
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
- Establish and monitor systems of control, delegated authority and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively
- Adhere to the delegation and oversight (management information and escalation) framework in the performance of daily tasks. This includes taking proactive action to ensure there is adequate production of management information that is fits for purpose, and issues are raised as appropriate
- Establish and monitor an effective delegation framework to ensure that tasks are performed by staff members with appropriate capacity and authority level (based on knowledge, skills and competence).
- Establish and monitor an effective oversight framework to ensure that issues are appropriately identified, escalated and resolved. This includes: a) ensuring that appropriate management information is received, considered and challenged as appropriate at intervals proportionate to the risks; and b) that staff members have clear understanding of the escalation path/principles
- Establish and nurture a culture of ‘Risk Excellence’ within the team, encourage an environment of openness that welcomes effective challenge and supports open discussion
- Ensure that you make reasonable decisions by exercising reasonable care when considering information available to you. This includes taking proactive action to ensure that the information you have is suitable and adequate
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members’ behavior in performing their roles
- Ensure that the highest level of the Code of Conduct is displayed in your own and staff behavior
What We Value
These skills will help you succeed in this role
- A minimum of 10 years in the industry, 5 at management level
- Detailed understanding of, and experience in Compliance activities within a bank or financial services company, preferably in the field of Asset Management / Securities Servicing
- Detailed knowledge of the local regulatory environment
Education & Preferred Qualifications
- Ability to take ownership and initiative, to negotiate, influence and build consensus and successfully navigate within a demanding and international environment of a leading global financial institution
- Strong team player with the ability to work in a multicultural environment and to lead and motivate a team with proven track record of leadership experience
- Ability to prioritize, work under pressure, committed to meeting deadlines
- Strong analytical and problem solving skills
- Strong drafting and communication skills (verbal and written), knowledge of other languages would be an added benefit.
- Strategic thinking skills, with high detail orientation, excellent organization and innovative approach to challenges
- Demonstrate confidence and adaptability
- Non-contributory pension scheme (we will pay 6% into your pension if you are 30 and 9% if you are 30+. The pension does not require a contribution from you).
- Private Medical Insurance – Single person Private Medical Insurance with AXA paid for by State Street.
- Long Term Disability Cover
- 26 days holidays at Officer level or after 3, 4, 5 years’ service increasing a day a year
- One additional day in lieu for birthdays
- Annual season ticket loan
- Long Term disability and Life Assurance
- Employee Assistance Program
- Participation in the State Street bonus scheme
- Travel Insurance
- Critical Illness cover
- Dental Insurance
- Personal Accident Cover
- Childcare Vouchers
- Holiday Buy/Sell scheme
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.
Discover more at StateStreet.com/careers
Job ID: R-721046
Company: State Street
Vacancy Type: Full Time
Job Location: London, England, United Kingdom
Application Deadline: N/A