Head of OR Monetization, Scenario, Stress Testing & Regulatory Reporting, MD

Role Summary The Head of Operational Risk Capital and Stress Testing is a senior leadership position within the Operational Risk Foundational Programs Team. The ORCAST team has responsibility for managing operational risk event data, producing macroeconomic scenarios and forecasts used in the firm‑wide capital planning, budgeting and loss assessment process, and generating operational risk regulatory reporting. The role will require the leader to interface with a diverse group of stakeholders—including senior management, risk and control owners, Business Executives, COOs, Audit, and regulators—to achieve risk measurement and risk management objectives. The leader is expected to be deeply engaged during high‑impact events such as Operational Risk Management program development and regulatory remediations. This role requires a senior leader with extensive knowledge of global regulatory requirements, supervisory guidance, and industry best practices. It demands in‑depth experience designing, implementing, and managing an integrated loss‑event, capital, stress testing, and scenario program. The position is global in nature and requires excellent communication, negotiation, and partnership skills to influence a wide variety of stakeholders, including external regulators. Key Responsibilities Define the operating model and related organizational support structure to deliver on the capabilities of the integrated ORCAST team; including Operational Risk Events, Scenario Analysis, Regulatory Reporting, Stress Testing and Capital. Ensure frameworks, methodologies, policies, processes, and reporting are in line with regulatory expectations and industry standards, including driving Basel IV preparedness for Operational Risk. Ensure ORCAST programs have a clear philosophy, purpose, and connectivity to the rest of the Operational Risk Management Framework so that its role in enabling effective management of operational risk is understood. Contribute to the success of the overall team by ensuring coherence and effectiveness of the Operational Risk Management Framework, supportive growth of team members, and successful engagement across the three lines of defense. Manage key stakeholders at all levels across State Street to drive strategic priorities and objectives. Foster relationships with key stakeholders globally across the first and second lines of defense to ensure clear allocation of responsibilities for operational risk event management and scenario analysis. Build and manage a high‑performing global team. Actively engage with regulatory agencies, internal and external advisors, and other internal control groups. Operational Risk Capital & Stress Testing Ensure ORM’s processes, controls and governance framework align with firm‑wide Stress Testing Standards and Basel Regulatory Reporting framework through ORM own Policy and Standards. Develop methods to capture relationships between losses and macroeconomic conditions, analyze reasonableness of those observed relationships and produce insights to drive risk management decisioning. Own the quantitative assessment of operational risk, including development and maintenance of the capital model and related assumptions. Provide reporting and insights on the bank’s exposure to operational risk, including peer benchmarking and related variance analysis. Provide analysis, commentaries, and tracking of current and historical Operational Risk Capital and CCAR trends, and collaborate with model development/analytics teams to meet internal and regulatory reporting review, validation and audit needs. Lead ongoing efforts around Basel and BCBS 29 operational risk capital processes, including global capital forecasts. Develop macroeconomic scenarios used in stress testing for a range of internal and regulatory stress testing regimes. Assess the materiality of operational risk in the context of firm exposure, internal risks and drivers including external risk factors. Oversee the preparation of regulatory reporting, ensuring it is completed timely and accurately. Operational Risk Events Design, implement and manage execution of the Operational Risk Event Program. Define minimum requirements for SLOD oversight/challenge practices and execution across State Street for all integrated risk identification and assessment capabilities. Own the strategy, design and execution of the applications within the GRC solution; transforming the existing implementation to align with the enhanced Operational Risk Management Policy and integrated framework. Oversee the preparation of regulatory reporting, ensuring it is completed timely and accurately. Develop training strategy and related materials to support ongoing education of the Company. Develop insights, solutions and reporting on operational risk events for senior management and core constituents. Scenario Analysis Engage with stakeholders within Risk and across business segments to mature the firm’s Operational Risk Scenario Analysis Framework. Lead global scenario analysis by collecting relevant internal and external data, managing specific scenario user tools, facilitating scenario workshops, producing qualification results and developing presentations to represent outcomes. Develop training strategy and related materials to support the scenario analysis program. Design and deliver reports which clearly communicate outcomes of the Scenario Program for a variety of audiences including the Board and Senior Management. Qualifications Minimum of 15 years of management experience in financial services; operational risk or finance focus preferred. Conceptual thinking skills complemented by a strong qualitative orientation. Impeccable written and oral communication credentials. Advanced expertise with scenario analysis, stress testing, operational risk events, regulatory reporting and operating risk capital. Demonstrated experience driving consensus between competing opinions and objectives across a diverse group of stakeholders. Advanced subject‑matter expertise in operational risk and related modeling concepts. Detail oriented with the ability to independently manage and prioritize a book of work spanning the bank’s change and run activities. Strategic thinker with the ability to distill complex, ambiguous information to create effective solutions and insights for leaders. Ability to quickly analyze the status quo and identify opportunities for continuous improvement or re‑engineering. Equivalent to a university degree in computer science, business, accounting or a related field; additional academic degree (e.g., MBA, doctorate) preferred. Salary Range $170,000–$267,500Annual (range quoted above applies to the primary location specified; a different location may have a different applicable range). Benefits Employees are eligible to participate in State Street’s comprehensive benefits program, which includes a retirement savings plan (401(k)) with company match; insurance coverage including basic life, medical, dental, vision, long‑term disability, and other optional additional coverages; paid‑time off including vacation, sick leave, short‑term disability, and family care responsibilities; access to an Employee Assistance Program; incentive compensation including eligibility for annual performance‑based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax‑advantaged savings plans. Equal Opportunity Statement 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. #J-18808-Ljbffr