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The Ethics Office at State Street requires a Global Head of Control Room Operations to design, develop and implement a control room for ethics office monitoring and surveillance. The role should interact with and obtain input from the experience and capabilities of other control room functions already established within State Street (e.g. Financial Intelligence Unit of AML and Global Markets FX Control Room) and should apply personal trade monitoring expertise to the function.
The role requires the successful candidate develop a strategy for enhanced monitoring and surveillance, working with the Chief Ethics Officer, Information Technology professionals and outside vendors, as appropriate. The role will become a fundamental component of the Ethics Compliance Oversight Program and is intended to work closely with the Head of Ethics Operations to which it will formally report.
In this role, the Head of the Ethics Control Room will design and implement an effective and efficient strategy for the deployment of advanced monitoring and surveillance initially for personal trade monitoring. Subsequently, the role may be expanded to surveillance on other ethics risk topics, such as Gifts + Entertainment, Outside Activities and Political Contributions.
Existing personal trading policies at State Street target specific conflicts of interest matters primarily by checking proposed personal transactions against pre-established restricted lists based upon open orders, recent portfolio trades or specific names. These are preventative controls using pre-clearance as a device to ensure the control is applied. With the expansion of personal trade monitoring policies across the organization we will be increasing our use of post-event monitoring and surveillance of individuals who do not have access to pre-trade information. The Global Control Room Operation will be critical to implementing these expanded policies.
The Global Head of Control Room Operations will work with and/or potentially manage a global team to establish, operate and manage highly repeatable monitoring & surveillance (M&S) practices through the development of the Ethics Office Control Room capabilities, providing enhanced automation and management intelligence. This will allow for efficient and effective M&S by utilizing the Compliance Monitoring System to be delivered to the Chief Ethics Officer and Regional Heads in their efforts to provide insight and advice on policy development, training needs and working practices.
The ideal candidate should have a working knowledge of compliance technology platforms used to execute successful M&S in the Financial Services, Asset Management or Broker-Dealer sectors; while understanding where conflicts of interest exist between the firm's clients and employees. The Global Head of Control Room Operations can expect broad exposure to the ethics and compliance program, global operations and the opportunity to improve management processes.
The position will be based in Boston.
- Support the Chief Ethics Officer, Regional Heads & Functional Leaders to establish, manage & implement a control room strategy and operation for monitoring and surveillance of ethics risks for the Firm, including but not limited to:
- Drive global consistency in approach through technology, process and procedure enhancements.
- Develop and implement best in class M&S techniques and capabilities via the implementation and maintenance of a Control Room capability.
- Own / support key change projects.
- Support technology projects that impact the collection, staging and analysis of data required for control room operations of the Ethics Office. Drive adherence to key operational principles such as data protection, information security and technology maintenance.
- Monitor risk and control execution via control room analyses. Integrate enhanced M+S techniques into the Ethics Compliance Oversight Program
- Where applicable, develop and grow new vendor partnerships (e.g. designated brokers). Co-ordinate with these vendors to maximize outcomes in favor of the Ethics Office and identify ways exact better value for the Ethics Office.
- Develop & maintain a strong governance and oversight framework for these vendors to ensure that they vendors adhere to the highest industry standards and those standards set by State Street policies and procedures.
- Recruit and manage team members as required to deliver the control room operation, whether on-shore or off-shore.
- Collaborate with and influence business unit compliance leaders through management information based on monitoring and surveillance patterns of changes in ethics risk profiles.
Job Opening ID
Boston - MA - USA
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