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Central Outsourcing Officer, Managing Director
State Street Corporation
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Central Outsourcing Officer, Managing Director

State Street Corporation

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Details
Posted:
August 14, 2024
Location:
Munich, Germany
Who we are looking for
The Central Outsourcing Officer is accountable for all aspects of the outsourcing and third party risk management framework for State Street Bank International (SSBI) in Germany and its eight European Branches. The Central Outsourcing Officer is responsible for establishing and maintaining a comprehensive outsourcing and third party risk management program to ensure the effective use of inter-affiliates and third parties to accomplish SSBI's strategic goals. The role holder will also have responsibility in Germany as the Central Outsourcing Officer in line with MaRisk AT 9.12 requirements. The role reports to the Chief Governance Officer who reports to the Chief Executive Officer. The role holder will lead a small team of professionals.

This role can be performed in a hybrid model (2-3 days on site per week), where you can balance work from home and office to match your needs and role requirements.

Preferred Location: Frankfurt or Munich

Why this role is important to us
The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for
As SSBI's Central Outsourcing Officer, Managing Director, you will be accountable for overseeing the implementation and maintenance of effective policies, procedures, systems and controls in accordance with European-wide and local laws, regulations and guidance to enable SSBI to identify, assess, monitor, manage and report outsourcing related risks.

Specifically, you will:
  • Implement and maintain outsourcing and third party risk management program to meet regulatory requirements, including in local branch jurisdictions
  • Drive and embed the strategies, policies, standards and procedures established to manage outsourcing risk
  • Embed effective oversight and monitoring processes and controls across the phases of the outsourcing lifecycle, including planning, implementation, monitoring, management and reporting
  • Provide technical advice and guidance to a broad range of stakeholders across various business lines and functional units, ensuring ongoing awareness of the outsourcing framework and relevant requirements
  • Implement and manage a robust process for the maintenance of a comprehensive inventory of all internal and external outsourcing arrangements
  • Ensure that new, or amended regulatory obligations, industry guidance and best practice applicable to SSBI are appropriately assessed and reflected in relevant frameworks
  • Identify and execute process improvements to the outsourcing and third party risk management framework and promote simplification in outsourcing processes through the identification of synergies
  • Drive remediation and continuous improvement programs in collaboration with global and local stakeholders
  • Serve as a primary contact with SSBI's regulators and relevant authorities in respect of outsourcing risks and issues
  • Be a trusted advisor and technical expert to SSBI's senior management / Executive Management Board on outsourcing risks and emerging issues, via the provision of regular reporting to SSBI' risk and governance committees, as well as applicable regional/ global forums
  • Manage and motivate the Outsourcing Office team and demonstrate the ability to influence and build consensus
  • Take a leadership role in industry forums and collaborate with outsourcing professionals outside State Street to address common challenges

What we value
These skills will help you succeed in this role:
  • Strong interpersonal, communication, project and people management skills and the technical knowledge and curiosity to influence and build consensus
  • Strong organization management skills and action and outcome driven, with an ability to drive execution at all levels within an organization
  • Proven ability to demonstrate ownership, work independently and multi-task in a fast paced environment

Education & Preferred Qualifications
  • Bachelor's Degree in relevant field
  • 10+ years of experience in financial services risk and control disciplines, preferably in outsourcing and third party risk management
  • Sound understanding of outsourcing regulatory requirements and risk and control principles, with experience working with regulators
  • Preferably fluent in both English and German

We offer
  • Flexible working time
  • Work from home days might be possible depending on the role
  • 37,5 working hours per week
  • Pension plan offering
  • Wellbeing & health programs (anonymous Employee Assistance Program, PME Family Service, trainings)
  • Group accident insurance
  • Mentoring program
  • Regular performance reviews and structured performance management
  • Personal development possibilities and extensive web based training catalogue
  • Free German and English language classes
  • Global Inclusion, Global Outreach and Corporate Citizenship programs
  • Dynamic, diverse, international, and multicultural working environment with English company language


Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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

Internal Number: 20854186
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