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The purpose of the role is to act as key member of the Risk Management ICAAP team in EMEA, including preparation, planning and execution. In its role the successful candidate will provide coordination of all Risk Management workstreams and technical understanding of the Capital Adequacy process, with direct execution responsibility on Risk Appetite, Risk Identification and Stress Testing. He/She will also actively contribute to the enhancement and harmonization of ICAAP methodologies across State Street entities in EMEA.
Support execution Risk Management responsibilities on the annual Capital Adequacy process, i.e.:
Risk Appetite and Capital limits
Stress testing and Scenario analysis
Coordinate Risk Management workstreams on Pillar II risk quantification, across different risk areas, e.g., credit risk, market risk, operational risk
Ensure smooth coordination with Global Treasury and Finance teams for overall ICAAP delivery
Support Risk Management practice evolution and harmonization across State Street entities in EMEA, in coordination with the US CCAR team
Support ICAAP documentation production and consolidation, including detailed review and formal submission to local Boards of Directors
Lead and support the preparation of project progress status, issues escalations, problem solving, etc. Managerial responsibilities
Develop effective working relationships and communications cross all workstreams, within Enterprise Risk Management and with other involved Functions (e.g., Global Treasury, Finance)
Develop effective working relationship with all EMEA Legal Entities to ensure process execution efficiency and full compliance with local regulations
Establish and monitor systems of review and escalation procedures so that ICAAP complies with internal policies and external regulations and can be managed effectively
Support a culture of effective challenge to ensure appropriate governance Individual contributions
Effectively support execution and internal practice upgrade of key ICAAP components across State Street entities in EMEA
Develop a deep understanding of the technicalities behind each workstream
Effectively collaborate with the wider Risk Management organization in EMEA as well as with US colleagues
Develop good working relationships and pro actively co-operate with colleagues of other involved Functions (e.g., Global Treasury, Finance)
Perform key tasks, with clear focus on deliverables quality and timing
The successful candidate shows indicatively 5-7 experience within a Risk Management or Capital Management function, either within Financial Institutions or a well established Consulting Firm. This would be an excellent role for an organised individual with an analytical way of thinking, with a strong tenacity for problem-solving. Additionally, this role allows for an individual to have the opportunity to develop their financial awareness whilst building on their technical expertise, specifically related to ICAAP production as well as build upon their expertise in Stress Testing scenarios. This role will ultimately allow the candidate to extend their learning curve and orchestrate a number of key processes working closely with SMEs and senior management. Further requirements include:
Knowledge overall European regulatory environment (e.g., Basel III, CRDIV/CRR, BIRPU, GENPRU)
ICAAP experience, including Pillar II risks, assessment and quantification, stress tests and scenario analysis
Project management capabilities
Effective written and verbal communication skills and ability to work effectively with colleagues at all levels, including senior management