Managing Director â Head of ERM India

Who we are looking for

Banking is a risk-taking business. The goal of Enterprise Risk Management (ERM) is to ensure that State Street's risks are proactively identified, well-understood, and prudently managed in support of our business strategy. We are committed to excellence, professionalism, and integrity in serving interests of our internal and external stakeholders.

ERM is part of the Second Line of Defense (SLoD), a control function independent of the First Line of Defense (FLoD). The SLoD is responsible for setting the Corporate Risk Appetite limits; developing policies and procedures to evaluate whether risks remain within the appropriate limits; monitoring risk-taking; and providing credible review and challenge to the FLoD risk management practices.

We are looking to hire for Head of Enterprise Risk Management - India, a part of the India management and global ERM management teams.  Reporting to the APAC Head of Operational and Technology Risk and India Chief Executive Officer, the successful candidate will be responsible for both oversight of all risks impacting State Streetâs operations and legal entities in India and providing leadership for ERMâs India Global Capability Centers.

What you will be responsible for

• Lead, manage, motivate and develop a growing, diverse multi-site team of 40 individuals.  Responsible for hiring, talent development, and employee engagement.

• Stakeholder engagement with State Street executive management and ERM leadership, both in India and internationally.

• Maintain and continually improve the quality and credibility of the ERMâs product, through hands on management, continuous review and feedback to staff on their deliverables.

• Represent ERM in interactions with State Street clients, regulators and State Street internal stakeholders on risk matters, persuasively articulating ERMâs role and the effectiveness of the risk management program.

• Understand applicable local market and international regulations requirements regarding risk management.  Analyze changes in regulations or market practices and redesign risk management programs accordingly.

• Collaborate effectively in partnership with other functions, including Business Risk Management, Compliance, Corporate Audit and Legal, to deliver better results than can be delivered by ERM alone.

• Maintain the highest standards of conduct and integrity and ensure compliance of Risk Management team with all company policies.

Second Line Risk Oversight

• Ensure global ERM methodologies for identifying, analyzing, monitoring and mitigation of risks are consistently applied for all risk types and business units present in India in cooperation with the global ERM organization.

• In particular, deploy State Streetâs operational and technology risk management toolkits in a manner that meets the risk management needs of both India management and global stakeholders.

• Provide India level insight and promote India level risk ownership for risk areas with rapidly evolving program expectations (e.g. operational resiliency, concentration risk, climate risk, strategic execution risk).

• Act as a trusted and valued partner to the India business in the identification, assessment, and mitigation of risk, providing timely quantitative and qualitative advice on risk matters.

• Partner with FLOD management, Business Risk Management, Compliance and Corporate Audit to promote and maintain a strong risk culture across all India business units and legal entities, including awareness and compliance with ERM policy requirements.

• Drive effective risk governance through the Risk & Compliance Committee and other governance bodies, including active participation, speaking-up and providing effective professional challenge for better risk outcomes.

• Produce and present high-quality and insightful reporting to aggregate and monitor risk exposures across multiple India business lines and locations.

• Escalate significant and above tolerance risk issues to India legal entity Boards, State Street ERM, and State Street Corporate risk committees as appropriate.

Global Capability Center

• Strategic leadership and development of ERMâs existing India Global Competency Centers (GCC):

• Risk Reporting Services

• Enterprise Technology Risk Management

• Centralized Modelling and Analytics

• Operational Risk

• Act as a change agent, interacting with senior business stakeholders across the global organization to develop and gain buy-in for creative solutions to meet all party requirements

• Drive execution of global projects to improve the productivity and quality of State Streetâs global risk reporting suite through automation, standardization, rationalization, usage of data visualization tools, etc., 

• Ensure continued delivery of high quality, accurate and timely services in accordance with Service Level Agreement, Key Performance Indicators. 

• Maintain and enhance the service delivery governance structure for GCC services, act as an ultimate escalation point to troubleshoot resolution of any service issues that may arise.

• Foster a strong control environment through well-designed, effectively operating and well-documented controls, with particular focus on data governance.

• Establish frameworks and project management structures to successfully deliver migrations of any future ERM activities transferred to India.

What we value

At a Managing Director level, we require senior leadership and advanced skills in areas such as:

• Navigate a large, global organization. Build meaningful relationships and develop an effective network.

• Work successfully in a matrixed environment. Effectively manage multiple stakeholders.

• Excellent time-management skills can determine highest priorities for the organization and identify and resolve contention between directives.

• Proven leadership skills as well as managing and developing a high performing team.

• Demonstrated ability to manage, coach and influence colleagues and virtual team members. 

• Ability to providing credible, structured, effective review and challenge to FLoD risk management practices.

• Excellent presentation skills and communication to multiple levels (clients, other 3rd parties, executives, peers, subordinates). Flexibility across multiple communication format.

• Experience with change management programs in sponsorship, leadership roles.

• Focused on risk outcomes with ability to provide strategic and tactical leadership to remediate areas of elevated risk.

• Demonstrated ability to execute under challenging circumstances and deliver targeted outcomes.

• Cross-cultural awareness and the ability to connect with colleagues globally in a collaborative, open work environment. To serve as a role model of acceptance and flexibility in dealing with colleagues with varying backgrounds.

The candidate for the Head of Enterprise Risk Management - India role will possess and/or be able to demonstrate:

• Over 15+ years' experience within financial services and risk management.

• In-depth domain knowledge of Non-Financial Risk management and State Street products and services.

• Strong working knowledge of operational risk foundational programs (risk taxonomy, RCSAs, etc.,) and familiarity with usage of global GRC platforms in large institutions.

• Experience interfacing at a senior level with senior executives, clients, service providers and regulators.

• Energy, enthusiasm and an obsession with continuous improvement.

• A relevant graduate degree or master's qualification that can be leveraged in this role.