Regulatory Capital Reporting, AVP

Who we are looking for

We are looking for a motivated individual who has familiarity with US Basel rules / reporting and is ready to dive into technical capital regulations, execute complex financial calculations, troubleshoot with data mining skills and technology solutions, work with cross functional business partners, and manage tight reporting submission timelines under a well-controlled environment to ensure accuracy and regulatory compliance.

As a member of the Regulatory Capital team, your initial focus will be on monthly, quarterly and annual deliverables related to capital and risk-weighted assets (RWA) calculations and reporting. However, the scope of work can go as far beyond as a self-driven talent is willing to go.

Why this role is important to us

In July 2013, U.S. banking regulators jointly issued a Final Rule implementing the Basel III regulatory capital framework (“Final Rule”). Under this Final Rule, State Street is subject to both the Standardized approach and the Advanced approaches. In July 2023, the U.S. Agencies issued a proposed rule to implement the Basel III endgame agreement for large banks, such as State Street.

State Street is expected to produce accurate calculation of risk-weighted assets (RWA) in a manner that is compliant with the Final Rule, and conform to the new Basel III endgame regulations if and when they are implemented.

Adherence to capital regulations, production of accurate calculations, and submission of accurate reporting is of paramount importance to the State Street’s regulatory compliance and success.

What you will be responsible for

• Monthly, validate critical data elements used for exposure and RWA calculations on selected products (product selection will rotate over time for knowledge expansion and cross training)
• Monthly, compute and analyze capital ratios, which will be used by business partners and senior leadership for internal analysis, monitoring, and reporting
• Quarterly, prepare capital analysis presentation and earnings materials for senior Finance leaderships, including the CFO, Head of Investor Relations, and others
• Quarterly, prepare (on a rotational basis) FFIEC 101, FFIEC 102, FR-Y 14Q, FR-Y 9C, FFIEC 031, and FR-Y 15 regulatory filings, as well as regulatory capital disclosures in SEC filings (10-K & 10-Q)
• Stay abreast of regulatory and reporting updates, execute approved changes as needed
• Maintain procedure documents to reflect up-to-date processes and controls, especially in light of potential Basel III Endgame regulatory and reporting changes
• Support user acceptance testing (UAT) of the Risk Data Lake logic updates, including implementation of new product on-boarding
• Support both internal and external assurance and audit requests, as well as regulatory inquiries
• Participate in special enhancement projects
• Coach, mentor, and develop talents on the team

What we value

These skills will help you succeed in this role:

• Knowledge in GAAP, US Capital Rules (Basel III and Basel III Endgame), bank financial products, and regulatory capital reporting, or the ability to proactively acquire such knowledge independently or with minimal supervision/guidance
• Strong critical thinking, problem solving, and project management skills
• Ability to interpret client needs and key issues in moderately complex situations, takes a broad perspective to problems and identifies solutions
• Ability to interpret internal and/or external business issues and implements best practice
• Ability to adapt information/style to the audience, explains difficult issues clearly with strong communication skills
• Strong teamwork and relationship-building skills

Education & Preferred Qualifications

• Undergraduate degree, preferably in Accounting or Finance
• 5-8 years of relevant Finance experience, ideally in a complex global Financial institution
• Basel knowledge / capital regulatory reporting experience preferred Experience managing multiple tasks in multiple locations

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