Head of SSBI Global Markets
State Street Global Markets, our investment research and trading arm, provides specialised research, trading, securities lending and innovative portfolio strategies to owners and managers of institutional assets. Our goal is to enhance and preserve portfolio values for our clients through original flow-based research, proprietary portfolio and risk management technologies, trading optimisation and global connectivity.
The position holds responsibility for the performance, governance & oversight of the SSBI Global Markets business. As a member of the EMB of SSBI collective responsibility with all other EMB members for the proper business organization of SSBI in accordance with German and EU regulations.
In addition, the role will partner with SSBI Branch Heads, Segments Heads and the rest of the organization to effectively drive the SSBI GM strategy and ensuring collaboration in identifying new revenue opportunities and increase share of wallet from existing clients. General Role specifics
Collective Responsibilities with other EMB members of SSBI:
- Develop and monitor the strategic business plan and budgets for SSBI GM in line with corporate goals.
- Responsible for business development and relationship management activity for SSBI GM
- Partner with Sector Sales, GS and GX divisions to ensure alignment of client and sector strategy, to increase client traction and drive revenue
- Act as an ambassador for both State Street & Global Markets at external industry events, increasing the prominence of the EMEA State Street brand.
- Develop and maintain relationships with key internal stakeholders including other business lines and corporate functions and external stakeholders such as clients, industry bodies and regulators.
- Ensure that the business has the right resources, including staff, control functions, IT and financial, to operate effectively.
- Ensure that the SSBI GM businesses operate in compliance with internal and external regulations and follow escalation procedures.
- Conduct periodic business reviews ensuring associated risks are identified and managed and remedial action is taken where appropriate.
- Provide strategic business line development through identification of key issues and trends.
- Report regularly to legal entity boards as well as corporate and regional committees with appropriate, timely and relevant information so that the groups can discharge their responsibilities effectively.
- Ensure that appropriate management information is produced and reviewed at regular intervals.
- Ensure that SSBI has a business strategy which is aimed at the sustainable development of the bank and a risk strategy which is consistent therewith as well as processes for the planning, implementation, assessment and adjustment of the strategies;
- Establish procedures for determining and ensuring SSBI's risk-bearing capacity;
- Establish internal control procedures for SSBI by means of an internal control system and an internal audit function;
- Ensure adequate human and technical resources for SSBI taking into account the internal requirements, the business activities and the risk situation of the bank;
- Ensure the existence of adequate contingency plans for SSBI;
- Establish adequate processes and concepts with regard to outsourcing of services and activities by SSBI to avoid excessive additional risks and an impairment of the proper conduct of the business, the services and the organization.
- Demonstrate the 'Risk Excellence' culture by establishing the tone at the top, through personal accountability and ownership, education and awareness and reinforcing mechanisms.
- Maintain a detailed understanding of:
- The scope of the role's managerial responsibilities
- The competence of the staff reporting to you
- Ensure that your team has clear understanding of their reporting lines, authority levels, scope of responsibilities (including those delegated to them and those they delegate), objectives, training and competency requirements plus progress is reviewed regularly in line with Company policy, and are regulatory registered where appropriate for their role
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members' behaviour in performing their roles.
- Ensure that the highest level of the Code of Conduct is displayed in your own and staff behaviour.
- Establish and monitor systems of control, delegated authority and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively.
- Adhere to the delegation and oversight (management information and escalation) framework in the performance of daily tasks. This includes taking proactive action to ensure there is adequate production of management information that is fits for purpose, and issues are raised as appropriate.
- Establish and monitor an effective delegation framework to ensure that tasks are performed by staff members with appropriate capacity and authority level (based on knowledge, skills and competence).
- Ensure that you make reasonable decisions by exercising reasonable care when considering information available to you. This includes taking proactive action to ensure that the information you have is suitable and adequate.
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
- Establish and monitor an effective oversight framework to ensure that issues are appropriately identified, escalated and resolved. This includes: a) ensuring that appropriate management information is received, considered and challenged as appropriate at intervals proportionate to the risks; and b) that staff members have clear understanding of the escalation path/principles
- All matters with respect to SSBI GM that could have a material adverse impact on State Street, its clients and its relationships with regulators will be escalated to the CEO of SSBI (Stefan Gmuer)and/or the Head of EMEA (Joerg Ambrosius).