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Responsible for the management of the depositary and trustee services provided in the UK by SSTL and for the overall management of the SSTL entity
Role
- Develop and monitor the SSTL strategy, business plan and budgets in line with corporate goals
- Management oversight of SSTL product, customer service, customer complaints handling, billing, and other aspects of client relationship management in relation to products and services offered by SSTL
- Management oversight of the services that SSTL has outsourced to State Street affiliates and third parties
- Ensure that SSTL has (when taking into account the services it has outsourced to affiliates) is appropriately resources, including client facing staff, IT, financial, and oversight functions to operate effectively
- Ensure that SSTL procedures, systems and controls are regularly reviewed and in line with risk appetite
- Act as a member of the UK Country Committee and its sub-committees representing SSTL
- Report regularly on SSTL material risks and issues to corporate and regional committees and boards including the SSTL Board, UK Country Committee, and the State Street Europe Limited board (on material issues which may impact State Street Europe Limited in its role as parent entity to SSTL) with appropriate, timely and relevant information so that such committees can discharge their responsibilities effectively
- Develop and maintain open and constructive relationships with regulatory authorities in the UK that have direct supervisory responsibilities for SSTL
- Develop and maintain relationships with key internal stakeholders, clients and industry peers
- Promote effective governance and systems and controls for the SSTL business, promote resources reasonably designed to operate the businesses in compliance with internal standards and applicable regulations (including the UK Financial Conduct Authority Handbook), and maintain appropriate escalation procedures
- Conduct periodic business reviews either directly or through the governance infrastructure, ensuring associated risks are identified and managed and appropriate remedial action is taken where appropriate
- Maintain an environment that promotes the highest standards of conduct and integrity in the interests of our clients and sets an expectation of compliance with industry practice, company policies, statute and stated regulatory expectations
- Maintain a good understanding of the global, regional, segment and divisional strategies and operating models impacting the SSTL business
- Approve product-specific content of marketing material; alongside the creation, validation and launch, of new SSTL products and services
- Lead SSTL discussions with other EMEA depositaries and Product Head of Depositary & Trustee EMEA ensuring SSTL contributes to a One-State Street approach to Depositary across EMEA, within any constraints from UK regulations
- Ensure the client facing SSTL Team demonstrates commitment to AML Risk excellence through timely completion of any KYC due diligence requirements; proactive escalation regarding any unusual activity; and maintaining role specific knowledge of current AML and Financial Crime risks and issues affecting SSTL
Managerial
- Demonstrate the ‘Risk Excellence’ culture by establishing the tone at the top, through personal accountability and ownership, education and awareness and reinforcing mechanisms.
- 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 staff are regulatory registered where appropriate for their role.
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members’ behaviour in performing their roles.
- Ensure that the highest level of conduct (in compliance with State Street’s Standard of Conduct) is displayed in your own and your staff’s behaviour.
- Establish and monitor systems of control, limits of delegation and escalation procedures so that the business complies with internal policies and external regulations 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 measures 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 training and authority level (based on knowledge, skills and competence).
- Build and maintain a strong relationship with SSTL Board members and lead executive interaction with the Board and its members in board meetings and outside them
- Ensure that SSTL operates in compliance with internal and external regulations and that escalation procedures are followed (note: primary responsibility for CASS is with the SMF 18), participating in relevant CASS Committees as agreed with SMF18
Escalation
- 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
- All matters with respect to the SSTL business that could have a material adverse impact on State Street, its clients, UK consumers or financial markets or State Street’s relationships with regulators must be escalated to the UK Country Head, to the SSTL Board, and to relevant UK/EMEA control function heads
Committees
UK Country Committee
UK Technology and Operations Risk Committee
UK Conduct and Compliance Committee
UK Change Management Committee
EMEA & UK Financial Crime Sub-Committee
(unless delegated to a direct report)
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
State Street's Speak Up Line
Job ID: R-764746
