About the Role
State Street is seeking a Business Risk Manager, Assistant Vice President (AVP) to join its Middle East operations. This role is central to the Business Risk Management function, which acts as the first line of defense. The function partners with executive management to identify, assess, and mitigate risks across operational, compliance, and technology domains. The primary objective is to support business executives by promoting practices that balance performance with risk and compliance objectives. The successful candidate will be instrumental in driving risk management solutions, enhancing the control environment, and providing regional expertise to local country heads in the Middle East. This position requires collaboration with global teams across all three lines of defense, as well as engagement with clients and regulators.
As a valued partner, the Business Risk Management function supports business line management in identifying, assessing, and mitigating risks. This role involves working across the organization to identify and implement solutions that support risk management activities and improve the control environment. The AVP will provide regional leadership and support centrally managed activities within the global Business Risk Organization, interacting with global teams, clients, and regulators.
Key Responsibilities
- Support the Head of Function in coordinating and overseeing the execution of business line risk management practices, including regional risk and control self-assessments (RCSA/LERA), issue and incident management, key risk indicator (KRI) monitoring, and reporting.
- Assist business functions in ensuring the implementation of and adherence to policies, procedures, and guidelines prescribed by corporate functions such as Compliance, Enterprise Risk Management, and Technology.
- Support regulatory and policy assessments to ensure compliance with obligations and firm standards.
- Liaise with regional management to provide a consolidated view of legal entity risk profiles through committee representation and the provision of risk metrics to support informed, risk-based decision-making.
- Act in an advisory and assessment capacity to ensure that the risks associated with new business initiatives, products, and service changes are adequately identified and that appropriate mitigants are proposed.
- Ensure the implementation of global risk management practices and programs based on applicability for the entities, including oversight of any third-party relationships.
- Identify opportunities to refine legal entity/country-specific requirements and harmonize global best practices.
- Partner with the second and third lines of defense and engage with local regulators and clients.
- Foster a culture of risk excellence through demonstrated behavioral traits.
Qualifications and Experience
- Minimum of 7 years of experience in risk, compliance, or audit roles within the financial services industry.
- Knowledgeable on regulations, products, risks, and controls within the financial services industry.
- Related Risk or Compliance qualifications are preferred.
Required Skills
- Risk Management
- Control Programs Governance
- Reporting
- Operational Risk
- Compliance Risk
- Technology Risk
- Risk Assessment
- Process Analysis
- Control Analysis
- Incident Review
- Policy Review
- New Product Risk Assessment
- Regulatory Change Management
- Business Project Risk Assessment
- Issue Management
- Key Risk Indicators (KRIs)
- Control Monitoring
- Risk Metrics
- Third-Party Risk Management
- Independent strategic thinking with an understanding of risks within financial services organizations
- Organizational awareness with the ability to facilitate and resolve conflicts effectively
- Effective communication and influencing skills across all levels of a global organization
- Strong analytical skills and a propensity to drive issues toward resolution with effective problem-solving
- Self-motivated professional with the ability to work in a fast-paced environment with competing priorities
- Proficiency in Microsoft Office Suite (Excel, PowerPoint, Word, Teams)
- Experience with risk platforms such as Archer
Company and Location
State Street is a global leader in institutional investor services, managing risk, responding to challenges, and driving performance. This full-time position is based in Riyadh, Saudi Arabia. State Street is committed to fostering an inclusive environment and is an equal opportunity and affirmative action employer.