Counterparty Credit Risk Manager - Wealth Custody & Clearing

Who we are looking for

We are looking for a Counterparty Credit Risk Manager supporting Wealth Custody & Clearing within the Global Counterparty Credit Risk team, part of Enterprise Risk Management.

The role will provide independent credit risk oversight of Wealth Custody & Clearing’s introducing broker-dealer and margin lending activities, with a particular focus on high-net-worth clients and related investment entities. As the platform scales, this individual will help ensure that its expanding brokerage and margin capabilities operate within an appropriate counterparty credit risk framework.

The successful candidate will combine counterparty credit analysis with strong knowledge of investment portfolios, collateral, margin and market risk, assessing both the underlying client and the assets supporting the exposure. The role will partner closely with Wealth Custody & Clearing, Front Office Risk, Margin and Collateral Operations, Product, Legal, Compliance and other control functions.

What you will be responsible for

Counterparty Credit Risk

·       Provide independent credit risk oversight of Wealth Custody & Clearing’s margin lending and collateralized brokerage activities.

·       Assess the creditworthiness of high-net-worth clients and related investment structures, considering financial strength, sources of repayment, portfolio composition and overall risk profile.

·       Establish and monitor appropriate credit limits and risk parameters and review new relationships, limit increases, exceptions and elevated-risk exposures.

·       Assess interconnected exposures across related accounts, entities, guarantors and affiliated counterparties where relevant.

Margin, Collateral & Portfolio Risk

·       Evaluate collateral quality, liquidity, volatility, diversification, concentration and potential liquidation risk.

·       Assess the adequacy of margin requirements and other risk mitigants relative to the underlying client and portfolio risk.

·       Identify risks arising from concentrated positions, less-liquid securities, leveraged portfolios and adverse market movements.

·       Review significant margin deficiencies, margin calls, exceptions and other circumstances that could result in elevated credit exposure.

Stress Testing & Monitoring

·       Develop and oversee stress-testing approaches to assess potential exposures under severe but plausible market conditions.

·       Evaluate the impact of market shocks, declining collateral values, increased volatility, reduced market liquidity and concentrated-position liquidation.

·       Monitor counterparty and portfolio-level risk indicators and identify emerging or deteriorating exposures.

·       Support management reporting covering exposures, limit utilization, concentrations, stress losses and significant exceptions.

Governance & Business Partnership

·       Provide independent risk input as Wealth Custody & Clearing expands its products, client capabilities and margin offering.

·       Understand the risk implications of the introducing broker-dealer and clearing-firm operating model and ensure material risks and exceptions are appropriately monitored and escalated.

·       Provide clear risk recommendations and credible challenge to business proposals while supporting appropriate commercial activity within established risk appetite.

·       Support policies, standards and governance governing broker-dealer margin and counterparty credit risk.

·       Partner with Legal, Compliance, Audit and other control functions on regulatory examinations, risk assessments and control enhancements.

What we value

·       Significant experience in counterparty credit risk, wealth management or private banking credit, margin lending, broker-dealer credit risk, prime brokerage or a related risk discipline.

·       Strong understanding of high-net-worth clients and investment structures, including the ability to assess both counterparty creditworthiness and portfolio and collateral risk.

·       Strong knowledge of margin lending, collateral valuation, portfolio concentrations, market liquidity, stress testing and liquidation risk.

·       Ability to analyze complex investment portfolios and translate market movements, leverage and concentration into potential credit exposure.

·       Experience establishing and monitoring credit limits and managing exceptions and escalations.

·       Understanding of wealth management, custody, introducing broker-dealer or clearing operating models is preferred.

·       Strong analytical judgment with the ability to independently challenge senior business stakeholders.

·       Excellent written and verbal communication skills, including the ability to communicate complex risk matters clearly to senior management and governance committees.

Education & Qualifications

·       Bachelor’s degree in Finance, Economics, Accounting, Risk Management or a related discipline; an advanced degree or relevant professional qualification is preferred.

·       Experience working with high-net-worth or ultra-high-net-worth individuals, family offices, trusts or related investment vehicles is strongly preferred.

Experience in a regulated broker-dealer, wealth management, private banking, custody, clearing or similar financial-services environment is preferred.

Salary Range:

$90,000 - $157,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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