Vice President, Operational Risk

State Street Corporation; Boston (MA); On-site; USD 115,000 - 201,000; Full time

Benefits offered by this job

401K with company match

Insurance coverage (medical, life, etc

Paid time off

Employee Assistance Program

Incentive compensation

Tax-advantaged savings plans

Job summary

State Street Corporation is seeking a VP of Operational Risk in Boston to strengthen the 1LoD risk framework and control environment across the business. You will partner with leaders to identify risks, assess controls, and drive remediation while promoting a strong risk culture.

You will oversee RCSAs, KRIs, incident analysis, and risk reporting to senior management and governance forums, ensuring clear ownership and accountability in a complex financial services setting.

Qualifications

• Strong experience in operational risk, business risk and controls, audits, compliance or internal controls within financial services.
• Experience with RCSAs, control design, KRIs, issue management, remediation and root cause analysis.
• Strong analytical skills to identify risks and translate them into practical controls.
• Proven ability to influence and challenge senior stakeholders.
• Excellent written, verbal and executive-level communication skills.

Responsibilities

• Partner with business leaders to identify, assess, and manage operational risks.
• Lead and support Risk and Control Self-Assessments (RCSAs) and ongoing risk assessments.
• Evaluate control design and effectiveness and identify opportunities to strengthen the control environment.
• Develop and monitor Key Risk Indicators (KRIs), risk thresholds, and management reporting.
• Analyze operational incidents, control failures, and emerging risks, including root cause analysis.
• Drive remediation of risk and control issues, ensuring actions address underlying root causes.
• Provide risk oversight and challenge for new products, processes, technology implementations, and business change.
• Prepare and present risk reporting to senior management and governance forums.

Skills

Operational risk management

RCSAs

KRIs

Root cause analysis

Executive communication

Stakeholder influence

Analytical thinking

Education

Bachelor's degree or equivalent

Job description

Why this role is important for us

The Vice President, Operational Risk is a senior First Line of Defense (1LoD) role responsible for strengthening operational risk management and the control environment across the business. The role partners with business leaders and process owners to identify and assess risks, establish effective controls, monitor emerging risks, and drive timely remediation of control gaps and issues.

What you will be responsible for

• Partner with business leaders to identify, assess, and manage operational risks.
• Lead and support Risk and Control Self-Assessments (RCSAs) and ongoing risk assessments.
• Evaluate control design and effectiveness and identify opportunities to strengthen the control environment.
• Develop and monitor Key Risk Indicators (KRIs), risk thresholds, and management reporting.
• Analyze operational incidents, control failures, and emerging risks, including performing root cause analysis.
• Drive remediation of risk and control issues, ensuring actions address underlying root causes.
• Provide risk oversight and challenge for new products, processes, technology implementations, and business change.
• Prepare and present risk reporting to senior management and governance forums.
• Partner with Compliance, Operational Risk, Internal Audit, and other oversight functions while reinforcing clear first-line ownership and accountability.
• Promote a strong risk culture and proactive identification and escalation of risk.

Education & Preferred Qualifications

• Strong experience in operational risk, business risk and controls, operations, audit, compliance or internal controls, preferably within financial services.
• Experience with RCSAs, control design, KRIs, issue management, remediation and root cause analysis.
• Strong analytical skills with the ability to identify risks and translate them into practical business controls.
• Proven ability to influence and constructively challenge senior stakeholders.
• Strong written, verbal and executive-level communication skills.
• Bachelor's degree or equivalent relevant professional experience.

Salary Range: $115,000 - $201,250 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Benefits

• Our retirement savings plan (401K) 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 our Employee Assistance Program
• Incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans)
• Eligibility for certain tax-advantaged savings plans

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

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

Job Application Disclosure: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

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