Corporate Audit, Managing Director, Hybrid

Italy Job Openings

State Street

FULL TIME

October 16, 2024

Who we are looking for

State Street Bank International Gmb H (SSBI) is looking for a highly skilled and experienced Managing Director to lead our audit assurance coverage over State Street Bank International (SSBI) activities across SSBI locations and support adequate coverage of outsourced SSBI activities. In this role, in addition to our Italian team, you will be managing a diverse team across various SSBI locations. Focus audit areas will include, among others, oversight of all SSBI branches and related Corporate Audits audit branch approach, and support of M&A audit activities.

You will develop, own and be responsible for SSBI client relationships with particular focus on Senior and Executive Management and the assurance plan over all SSBI activities. You will have tremendous insight into all parts of the bank’s daily operations and governance processes. You will be a problem solving partner, looking ahead to help management envision future risks and opportunities.

In addition, you will provide strategic leadership across all aspects of the audit lifecycle, including, but not limited to: defining the audit universe, reviewing and approving risk assessments, setting the SSBI audit plan and overseeing audit engagements and regulatory validations. In this role you will be part of the SSBI Corporate Audit team with 60 auditors in continental Europe and the State Street Global Corporate Audit Division, that has currently more than 350 employees worldwide.

State Street Bank International Gmb H (SSBI) Italy office offers investment banking services, including investment servicing, research and trading, and management. In addition to the broader SSBI role, the Managing Director SSBI Milano will have an Italy oversight role to satisfy regulatory requirements and overseeing audit assurance of a product portfolio.

This role is based out of Milano, Italy and can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

You will report directly to the Head of Corporate Audit SSBI, and interact closely with the global Corporate Audit leadership team, the SSBI leadership team and SSBI Italy local leadership.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability; regulators rely upon us to provide assurance that the bank operates in a manner that is compliant with key banking regulations to properly manage risks to the company and the global financial systems. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role, you will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As Corporate Audit, Managing Director, Corporate Audit SSBI you will:

In close collaboration with the SSBI Audit leadership, support and oversee the audit approach strategy for SSBI and its branches, including approval of audit universe, risk assessments, business area audit plan and effective and efficient execution of SSBI audit projects.
Manage the client relationship with SSBI leadership, including Italy local leadership.
Proactively engage with senior stakeholders to provide insights on key / emerging risks and issue themes and trends.
Provide day-to-day leadership to the SSBI audit team including our Italy based team through proactive engagement, coaching and talent development.
Oversee the timely execution of the audit plan to advance insight-drive assurance.
Draft, review, finalize and communicate audit deliverables, including audit findings, memos and audit reports to senior and executive management.
Establish yourself as a trusted business partner and contribute to change initiatives by participation in system and business process change initiatives with strategic corporate significance by providing input on operational and technological risk issues in an advisory capacity.
Participate in department wide initiatives, challenging the department's organization, processes and services to ensure that they remain at or above peer/ industry standards.
Provide insight on the evolving regulatory environment and interact with relevant regulators, in particular the JST and local Italian regulators.
Stay abreast of industry matters and efficiently and effectively apply applicable new developments in audit projects, embrace data analytics and automation opportunities and promote smart audit approaches.
Prepare relevant reporting to key stakeholders including executive management and governance committees.
Participate as a non-voting member of various business committees and management working groups, promoting balanced discussions and encouraging challenge and debate.
Strengthen internal control disciplines and risk culture within the corporation by influencing relevant policies, promoting education/ understanding of risk and control concepts.
Work in partnership with business and division management across all lines, facilitate effective communication and coordination and develop and negotiate solutions for control deficiencies.
Proactively engage in solving complex issues and engage in projects that may extend beyond own area(s) of expertise.
Demonstrate, maintain and expand your knowledge of financial and operational internal control methodologies and terminologies (e.g. COSO), process and control industry standards, audit industry best practices and regulatory expectations, risk management practices and techniques as well as supervisory regulatory requirements such as ECB.

What we value

These skills will help you succeed in this role

Role model behavior in cross-cultural awareness and ability to connect with colleagues in SSBI and globally in establishing and maintaining a collaborative and inclusive work environment.
Strong leadership and relationship building skills that establish trust and credibility across senior stakeholders including executives, senior management, regulators, and audit staff.
Strategic mindset, passion for innovation, and ability to clearly articulate vision; ability to drive adoption and measure success of initiatives.
Ability to manage complexity, effectively prioritize multiple tasks and work independently in non-routine situations and in a fast-paced environment.
Strong communication, interpersonal and leadership abilities across all levels coupled with effective problem solving, conceptual thinking, quantitative and analytical skills.
Deep knowledge and understanding of the European regulatory environment applicable to financial institutions and proven ability to research, interpret and apply regulatory requirements.
A very high degree of professionalism, professional curiosity and skepticism, leadership and proficient organizational, analytical and project management skills.
Strong knowledge about the industry and its developments.
Fluency in English is a must – written and spoken.

Education & Preferred Qualifications

15+ years Audit experience and/or compliance/risk management in the financial industry with increasing responsibilities, including at least 10 years of managerial experience. Specific experience in either auditing custody, fund administration, depositary, transfer agent and international audit experience will be an advantage.
University degree in economics, statistics, business administration or related field.
Professional audit certifications preferred; a CPA, CIA or CISA is preferred.

Additional requirements

While majority of the time you will work from your primary location, some domestic and international travel may be required to a variety of locations where State Street operates.

What we offer

Wide range of benefits, including:

Hybrid work arrangement and flexible working time
Participation in annual bonus program
Pension plan offering
Company car or company car allowance
Wellbeing & health programs (anonymous Employee Assistance Program, PME Family Service, trainings)
Regular performance reviews and structured performance management.
Mentoring program
Personal development possibilities and extensive web based training catalogue
Free language classes
Global Inclusion, Global Outreach and Corporate Citizenship programs
Dynamic, diverse, international, and multicultural working environment with English company language

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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 State Street.com/careers

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