Business Risk India - Team Lead

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Job Description Basic Purpose of Job:

The Regulatory Reporting Assurance (RRA) department is a first line of defense group in the Controller’s Organization within Corporate Finance. The RRA Basel team is responsible for the independent verification of controls and processes over global regulatory reporting, and areas of high risk and enhanced regulatory focus. The primary focus of the team is the review and assessment of the quality of information pertaining to reporting, compliance with relevant regulations and the assessment of relevant risk management programs. The team works closely with other functions across Finance, Regulatory Reporting Governance, Risk Management and Business Units, as well as other assurance functions. This is an opportunity to join a growing group and actively participate in its development and maturity, to learn about key current regulatory requirements and gain an understanding of all areas of the company’s business RRA has a mission to: Provide credible challenge to management to drive compliance with regulatory and policy requirements

Support executive management and the board by reporting on the effectiveness of key financial and regulatory processes

Advise in the proactive identification of operational and compliance risks and effective mitigation strategies through effective business partnership

Offer risk and control insights to improve business results predicated on collaborative business partnerships

Key Responsibilities: Execute a framework to test if the internal systems supporting compliance with regulatory requirements and expectations are properly designed, documented and implemented and  include appropriate governance and data quality controls

Perform risk assessments to identify areas requiring detailed testing

Participate in reviews, including assessing the internal control environment, developing testing strategies and reviewing control and sample data testing

Participate in discussions with process and control owners to assess inherent risks, identify controls and  control gaps, by conducting walkthroughs

Challenge, assess, detail test the design and operating effectiveness of controls

Identify,  document and maintain evidence supporting process and controls objectives. Lead the identification and risk assessment of issues and work with management to track issues to resolution

Draft recommendations and liaise with the business units to remediate risks, findings and gaps identified during the validation process

Facilitate completion of assigned deliverables and explain results

Job Requirements: Education and Experience: Bachelor’s Degree in Accounting, Chartered Accountant (CA) and/or Certified Public Accountant (CPA) or MBA, with 4-6 years of progressive auditing/regulatory experience; preferably financial services and/or Big 4 

Certified Internal Auditor (CIA) / Chartered Financial Analyst (CFA) certification or candidate is a plus

Familiarity with Basel, FRB regulations and SEC requirements associated with the Financial Services Industry

Knowledge/work experience on control testing and Data flows is a  plus

Skills/ Knowledge: Understanding of the internal control environment

Knowledge of US Basel regulations and US regulatory reports like FFIEC 101, FFIEC 102, FFIEC 031, Pillar 3 disclosures, FR Y 9C, FR Y 14Q, FR Y 9C, etc.

Knowledge of banking products and services, especially loans, deposits, securities and derivatives

Auditing skills and experience in the review and interpretation of regulatory requirements

Strong oral and written communication skills; ability to effectively challenge and influence

Demonstrated solid interpersonal skills and the ability to work collaboratively across all organizational tiers.  A strong customer service mindset is a must

Must be proactive and a goal oriented strategic thinker with ability to identify creative solutions

Demonstrated ability to manage workloads and prioritize deliverables; ability to be flexible

Strong attention to detail and accuracy

Ability to be proactive with minimal direction, ability to work independently and meet deadlines

Ability to thrive in a team environment, working collaboratively with others

Inquisitive and curious about business and functions, strong desire to learn

High energy and positive attitude

Professionalism, dependability, integrity and trustworthiness combined with a cooperative attitude

Additional Locations

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement