Global Head of Capital Management, SVP

  • Company: State Street
  • Location: Boston, Massachusetts
  • Posted: December 13, 2017
  • Reference ID: R-562809
Global Treasury manages the balance sheet and capital structure of State Street, seeking to support our business units and optimize net interest income (NII) within our corporate risk appetite. Global Treasury's core functions include managing the investment portfolio, asset-liability risk, liquidity risk, funding and liability pricing, capital adequacy, capital issuance, performance measurement, and rating agency relationships. Global Treasury is a key business partner for all client-facing business units, sales teams, and relationship managers and a key driver of our overall corporate strategy.

The Capital Management group is responsible for the following functional areas: capital policy, capital forecasting, capital structure (including FX capital hedging), capital stress testing, capital aspects of Recovery and Resolution Planning (RRP). Principal responsibilities of the group include:

  • Developing our capital policy and capital guidelines, which includes maintenance and enhancement of the framework for calibrating capital limits and cushions and proposing, acquiring approval for and executing on the company's capital distribution strategy;
  • Developing our Board-approved Capital Plan that is submitted to the Federal Reserve as part of the annual Comprehensive Capital Analysis and Review (CCAR);
  • Overall execution of the annual CCAR and semi-annual Dodd-Frank Act Stress Test (DFAST) exercises, including running the CCAR PMO, production and submission of the FR Y-14A schedules, management of the exam relationship with the Federal Reserve, and oversight of CCAR related technology/automation enhancements;
  • Optimizing our capital structure;
  • Overseeing non-US capital management activities, including development of capital policies and distribution practices that balance local entity requirements with corporate standards;
  • Managing our FX net investment hedging program;
  • Assessing Total Loss Absorbing Capacity (TLAC) and managing capital and debt issuance accordingly;
  • Regular reporting on the parent company liquidity position and actively contributing to the corporate forecast, strategy and budget cycles;
  • Leading capital-related aspects of State Street's RRP efforts including resolution capital adequacy and positioning (RCAP) and resolution capital execution need (RCEN);
  • Direct ownership and management of multiple models used within CCAR and RRP;
  • Providing significant support to execution of the European Central Bank (ECB) stress test required for a specific bank subsidiary as well as capital-related aspects of legal entity RRP efforts for all relevant legal entities; and
  • Managing our global rating agency relationships;

  • Team management:
    • Manage and provide innovative thought leadership for Global Capital Management function
    • Directly manage local team of ~20 FTE, 2 FTE in Germany and 2 FTE in Bangalore
    • Provide careful oversight of the function's work product to ensure a high standard of quality control
    • Provide leadership, mentoring, training, and talent development to direct staff and others in Global Treasury and State Street more broadly
  • Regulatory:
    • Follow and interpret emerging capital and risk regulation; act as a subject matter expert on relevant regulatory issues
    • Proactively respond to regulatory developments; drive change throughout the organization in response to capital and regulatory issues
    • Act as primary point of contact for regulators on specific functional areas and capital management and regulatory topics more broadly
    • Participate as needed in capital-related advocacy and regulatory outreach efforts
  • Governance:
    • Make presentations to the Board, senior management, and risk committees on capital management topics as needed
    • Participate in and serve on risk and management committees as appropriate
    • Support regulatory examinations, internal audits and model validations
  • Collaboration:
    • Collaborate with other areas of Global Treasury, as well as Finance, ERM, and business units to achieve collective goals
    • Lead or participate in ad hoc Treasury projects as appropriate

  • Experience:
    • 10+ years relevant experience in capital management and capital regulation
    • Deep regulatory expertise in the areas of capital regulation, Basel, stress testing, and Dodd-Frank (including RRP)
    • Experience managing multiple, complex projects simultaneously
    • Experience managing a team of at least 10 professionals
    • Very strong educational background; advanced degree a plus
  • Skills:
    • Strong written and oral communication skills; comfortable making presentations to senior executives, the Board, senior regulators, and large groups of peers
    • Excellent leadership and influencing skills; able to influence senior and executive management and drive change through an organization
    • Proven interpersonal skills; demonstrated success at building relationships and collaborating across organizational boundaries
    • Very strong project management skills; able to quickly structure an approach to address new problems; proven ability to make decisions and drive execution
    • Strong quantitative and analytical skills required; background in complex quantitative modeling and analysis a plus
    • Demonstrated management skills; detail oriented and hands-on management style; strong emphasis on talent management and constructive feedback

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