Chief Risk Officer APAC Region And Head Of Compliance APAC And Global Delivery SVP

Chief Risk Officer APAC Region and Head of Compliance APAC & Global Delivery (Senior Vice President)

Role Summary

The Asia Pacific (APAC) Regional Chief Risk Officer and Head of Compliance for APAC & Global Delivery Compliance (CRCO) is responsible for leading and overseeing the Enterprise Risk and Corporate Compliance for the APAC region and Global Delivery Compliance functions globally.

CRCO Risk responsibilities include implementing and executing the enterprise risk management framework and compliance risk management program within APAC. The role is accountable for ensuring effective identification, measurement, control and management of the relevant risks facing State Street within the APAC region and improving the overall risk posture. Additionally, the role is responsible for ensuring the respective risk programs mitigate applicable risks, and comply with corporate and local requirements, whilst working collaboratively with ERM Risk and Compliance peers and other corporate functions such as the Legal Department, Corporate Audit as well as regulatory authorities.

CRCO compliance responsibilities include overseeing activities related to ensuring firmwide compliance with regulatory obligations regarding financial risk (credit risk, interest rate risk, liquidity risk, trading risk) and non-financial risk (compliance risk, model risk, operational risk, technology risk, resiliency, data and third party) for APAC and globally for Global Delivery, including responsibility for conducting compliance assurance activities of applicable law, rules, regulatory guidance, and internal policy requirements. As a leader within the second line of defense, the CRCO will work with a global team, cross functionally, to support efforts to monitor and keep pace with regulatory obligations, develop risk frameworks, policies, standards, and procedures in alignment with applicable regulatory obligations and the firm’s enterprise Compliance Risk Management Program.

The CRCO is a member of the Enterprise Risk Management and Compliance leadership teams. This position reports into State Streets Global Chief Risk Officer and Global Chief Compliance Officer. Regionally, the role reports to APAC Regional Head.

Other Key Responsibilities Include

• Ensure the effective identification, measurement, control and management of compliance risk; implement and execute process to ensure adherence
• Identifies, assesses, and manages financial and non-financial risks across APAC and develop strategies to mitigate these risks, ensuring the companys operations remain secure and resilient
• Develops and regularly reviews / updates risk governance frameworks (strategies, policies, procedures) within areas of responsibilities. Adjusts, monitors and communicates the Risk Appetite Framework. Responsible for risk infrastructure including risk reporting data. Ensures proper execution and alignment with corporate functional strategies and local regulatory requirements. Relevant risk categories include credit; operational including technology, outsourcing, third-party, and resiliency; investment; treasury; market; ICAAP, and fiduciary risks
• Build and/or maintain effective relationships with regulators and agencies regarding State Street’s risk and compliance programs and related regulatory requirements. Work with local senior management to ensure that regional regulators are kept informed on a timely basis of issues, of changes in strategy and other appropriate matters
• Develop required regional or local enhancements for risk management policies, procedures and systems to identify, measure and monitor the related risks in close coordination with global ERM colleagues
• Work closely with business unit management to establish appropriate risk and compliance management culture and ensure business line ownership, accountability and responsibilities are monitored for the risks they generate
• Provide oversite and governance of policies & procedure, risk thresholds, monitoring and remediation oversight of State Streets regional and Global Delivery business
• Set the regional & Global Delivery Compliance strategy and priorities in conjunction with Global Chief Compliance Officer (CCO) along with applicable regional or business unit executive management
• Provide advice and guidance to corporate and regional committees, legal entity boards, with appropriate, timely and relevant information so that they can discharge their responsibilities effectively
• Identify key emerging risks and ensure appropriate risk responses are developed
• Monitor changes in the risk profile and provide effective challenge to Business stakeholders’ strategic business and remediation plans
• Provide reporting as applicable to both internal constituents and external regulators
• Ensure effective measures are taken to address breaches of risk tolerance or identified deficiencies in risk control and that such matters are appropriately escalated
• Chair business unit-wide, regional, or corporate-wide committees and serve in global and regional committees to review and oversee major relevant risk management and compliance issues; ensure that relevant risk-related management information is produced and reviewed at appropriate intervals
• Ensure collaboration and coordination between International Legal, Regulatory and Industry Affairs and Corporate Audit, as appropriate
• Lead and manage a multi-jurisdictional team of professionals ensuring that there are clear lines of reporting, authority levels, objectives and progress against performance priorities
• Develop and manage the planning and budgets (people, infrastructure, consulting) as assigned
  
  
  

• Minimum of 20 years of related experience including time spent managing in an executive capacity
• Minimum of least fifteen years of management experience in banking with a risk and compliance focus, preferably within a GSIB or related operational setting ideally with proven experience in asset management and custody
• Deep knowledge and understanding of risk and compliance management principles, strategies and emerging trends
• Experience with APAC bank regulation as well as a strong working level of knowledge with US regulations
• Demonstrated experience evaluating risks and compliance issues with the ability to develop strategies to mitigate those risks for a multi-jurisdictional financial services company
• An understanding of digital and corporate technology systems, networks, IT infrastructure and cyber threats
• Knowledge of financial compliance requirements including fraud prevention and potential threats to monetary transactions
• Highly organized with extensive analytical, problem-solving and negotiation skills
• Proven interpersonal and communication skills at both the executive and board level
• A minimum of Bachelor’s degree in Law, Finance, or Business Administration, or in a related field, or equivalent experience
• Graduate degree in Finance, Mathematics, Economics, Physics, or other relevant area preferred