ESG Compliance Manager for SSBI m/f/d, Vice President - #2083779

Who We Are Looking For

Compliance supports the Executive Management Board (EMB) of State Street Bank International GmbH (SSBI) and SSBI employees in their responsibility to comply with laws and regulations applicable to the Bank’s business activities, products/services and functions. This position based ideally in Munich or Frankfurt is perfect for an individual who has expertise in Compliance risk management within the financial services sector, possesses a good understanding of ESG-related regulatory obligations and their impact on financial institutions.

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

Why this role is important to us

You will lead the ESG Compliance function for SSBI which plays an important role in ensuring successful ESG implementation in SSBI. As legislators have strengthened the requirements in the areas of sustainability, green financed, diversity and inclusion and human rights, EU financial regulators expect banks to comply with these requirements while navigating the global regulatory landscape. We seek a candidate with strong ESG knowledge and experience to help our stakeholders in understanding and navigating ESG-related challenges and keep abreast of benchmark activities in the financial industry. You, together with the Compliance team will support the Bank in the development and maintenance of a coherent set of comprehensive standards and guidelines around ESG governance across all impacted areas specifically, credit/liquidity/operational/market/interest rate risk management as well as finance and data governance. In your role you will strive for cutting-edge solutions to mitigate regulatory risks associated with ESG obligations. You will be a key contributor in helping us build resilience in ESG Compliance risk management and execute pragmatic day-to-day deliverables to ensure compliance with the regulatory requirements.

What You Will Be Responsible For

As ESG Compliance Manager for SSBI m/f/d you will

• Work closely together with the SSBI Chief Administration Officer and SSBI Chief Compliance Officer (CCO) as well as the Global Head of ESG Compliance in ensuring the implementation and execution of a robust and effective ESG Compliance strategy for SSBI in full alignment with the Global Compliance framework.
• Partner internal stakeholders in staying on top of ESG-related risks, issues, trends, and latest developments keeping pace with increasing regulatory disclosures and changes to the regulators’ ESG agenda.
• Take lead in advising and supporting SSBI management body and business heads in the development of a robust and comprehensive strategy in managing regulatory ESG regulatory risks and ensuring that the strategy is effectively incorporated across the Bank’s regulatory footprint as well its business and risk management strategies and overall risk appetite and tolerance levels.
• Provide insight and advice in the development of an ESG Compliance governance structure that meets that requirements prescribed under MaRisk and EU regulatory expectations and guidelines so as to ensure that all Compliance facets (e.g. risk assessment, reporting, second level controls, escalation, governance including roles and responsibilities and three-lines of defense considerations, advisory with subject-matter expertise and appropriate training etc) are effectively integrated into the Bank’s internal control framework.
• Spearhead the development and upkeep of a holistic Compliance risk management framework that identifies, measures, manage and report on regulatory risks associated with all applicable ESG obligations.
• Assist with strategic prioritization of SSBI activities to address systemic risks through the innovation of preventative and detective solutions and development of controls to avoid/remediate regulatory deficiencies avoid the risk of punitive financial and reputational consequences.
• Help define regulatory and reputational risks in relation to ESG obligations and guide risk owners across the Bank in the design, implementation and maintenance of risk-based impact and control-effectiveness assessments integral to measuring residual risk and evaluating risk-appetite alignment.
• Manage the execution of monitoring and testing activities and provide insights on risk mitigation approaches in the implementation of ESG requirements that ensures proportionality.
• Ensure that all material residual ESG regulatory risks and issues together with remedial/mitigation actions are reported appropriately to senior management in a timely manner.
• Advise on the maintenance of a comprehensive regulatory database, including processes to identify and integrate emerging regulations and guide business heads in the adaptation of the Bank’s existing policies and procedures to ESG regulatory changes.
• Participate in activities to enable successful ESG implementation including identifying data requirements, key risk indicators and key performance indicators, and tools and technology to support risk management and governance activities.
• Support the incorporation of ESG requirements in the assessment and evaluation of regulatory risks in product and services governance frameworks.
• Advise the management body on ESG obligations in relation to governance arrangements including the consideration of ESG objectives and goals within performance assessments, remuneration and compensation arrangements.
• Keep pace with ESG data needs, provisions and risks to ensure that disclosures and reporting meet regulators’ expectations and industry’s best practices.
  
  
  

What We Value

These skills will help you succeed in this role

• Expertise in European and German regulatory requirements.
• Effective communication skills in an international and intercultural environment, including strong writing and presentation skills
• Excellent critical thinking, analytical skills and structured approach to complex matters
• Strong relationship building and collaboration skills within Compliance and the ability to communicate with and appropriately influence and credibility all levels of management within business and corporate functions
• High degree of initiative and proven ability to work independently and adapt quickly in handling multiple / evolving tasks as a result of new projects and/or re-prioritized deadlines
• Strong ethical compass coupled with organizational and time management skills, understanding competing priorities, finding opportunities for efficiency in regulatory change process
  
  
  

Education & Preferred Qualifications

• Expertise in European and German regulatory requirements.
• Completed university degree in a related discipline
• Five to ten years relevant professional experience in ESG Compliance or a related field, i.e. risk or control function of a highly regulated, international firm
• Fluency in English and German
• Proficiency in Microsoft Applications as well as Data Analytic Tools
• Relevant professional certifications in Compliance, ESG and Audit a plus
  
  
  

We offer

• Flexible working time
• Work from home days might be possible depending on the role
• Depending on legal entity 37,5 or 40 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
  
  
  

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

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Job ID: R-771643