Portfolio Admin Manager
Our Company
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $24.37 trillion in assets under custody and administration and $2.09 trillion in assets under management at December 31, 2012, State Street operates in 29 countries and more than 100 geographic markets and employs 29,660 worldwide. For more information, visit State Street's website at www.statestreet.com.
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With more than 29,660 employees across 29 countries, at State Street, our people are our greatest asset. We recognize that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility -- to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills.
We're a company that insists on, and rewards, performance excellence. We know our success hinges on attracting the best people to join us -- people like you.
We encourage you to explore the possibilities that a career at State Street can offer you.
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SSgA EMEA is introducing a Business Control Function which will be focused on mitigating risk from within the first line of defense through control monitoring and enhancement.
the role
The newly formed Business Control Function will be an independent and knowledgeable 2 person team that will:
- identify and maintain a controls inventory across SSgA EMEA
- conduct control reviews which will provide for the proactive assessment and testing of controls and assist in the identification of control gaps
- identify remediation steps and track these through to implementation
- conduct post implementation reviews of remediation activities and new process controls
The successful candidate will report to the Head of Business Control Function and will liaise on a regular basis with the Internal Governance Oversight ('IGO') Function, Operations Control, Operational Risk, Compliance, Internal Audit and the UK Office of Controls, Culture and Governance ('OCCG'), thereby complementing and building on the control and risk infrastructure already in place in SSgA EMEA.
the responsibilities
- Maintain a comprehensive controls inventory throughout the EMEA region, providing a baseline for all future assessment
- Conduct control identification reviews and process maps
- Perform a risk based cycle of periodic controls review
- Monitor the normal execution of critical/key controls across functions and then promptly escalate exceptions
- Ensure that controls effectively and efficiently mitigate risk
- Ensure a robust control environment through segregation of duties and horizontal oversight
- Perform analysis on new business activities and process changes and provide recommendations on how these activities can be best controlled given the existing structure and operating model
- Monitor remediation steps and corrective action plans from control review findings to ensure implemented
- Provide the business with a controls Subject Matter Expert advisory service, adopting a partnership approach, in order to minimize risk and offering solutions to mitigate and manage down the cost of risk
- Establish strong relationships with key functional stakeholders including first line of defense business lines, IGO and OCCG, Operational Risk, Compliance, and Internal Audit. Instill confidence by demonstrating credibility and expertise on control issues
- Prepare reports on control reviews undertaken, controls inventory maintenance and remediation activities to relevant stakeholders
- Undertake other Business Control Function tasks as directed by the Head of Business Control Function
- Maintain the highest level of personal integrity in all dealings thereby mitigating reputational risk to SSgA and its customers
Job Specification
The ideal candidate should be:
- Strong primary degree. Professional qualification desirable
- Five years PQE with solid knowledge of investment processes and instruments, client service requirements and operations
- The candidate should preferably have a background in accounting / operations / operational risk / compliance / internal audit / consultancy / business analysis / fund administration
- Some knowledge of regulatory requirements within the Fund Management Industry i.e. UCITS, Mifid, Basel II etc. desirable
- Demonstrate an understanding of control and process mapping methodologies with knowledge of, and interest in, ongoing research and development in control techniques
- Proven experience in writing policies, procedures and reports
- Proven track record in effective production and interpretation of Management Information and reporting
- Strong excel / database management skills
- Effective communication, negotiating and influencing skills to guide and drive the controls agenda with the resilience and ability to operate and challenge at senior level
- Customer focused to ensure the Business Control Function is sensitive at all times to the demands of its stakeholders and the business
- Experience of managing a number of key stakeholders and conflicting priorities
- Must be highly self-motivated and a multi-tasker with the energy and drive to give confidence to all key stakeholders
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