Vice President, Operational Risk

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.

As Operational Risk, Vice President you will

• 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.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: 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); and, eligibility for certain tax advantaged savings plans.

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.