Job Summary

The Senior Compliance Manager will lead the compliance activities within our Cayman Islands-based fiduciary and fund administration business. This role is responsible for day-to-day activities related to operational and the legal entity governance in order to meet the regulatory expectations of the Cayman Islands Monetary Authority (CIMA). Specific areas of focus include: trustee specific obligations, fiduciary oversight, and corporate governance. The successful candidate will review and enhance existing compliance frameworks, ensure alignment with current and emerging CIMA regulations, and act as the business unit’s primary liaison with CIMA, Corporate Compliance, Legal, Enterprise Risk, and the AMLCO/MLRO of the licensed entities.

Key Responsibilities

Regulatory Compliance

• Ensure compliance with all applicable Cayman Islands laws and regulations including the Mutual Funds Act, the Banks and Trust Companies Act, the Trusts Act, the Companies Act, and CIMA’s Rules and Statements of Guidance.
• Serve as the designated Cayman Senior Compliance Manager, working closely with Corporate Compliance, the AMLCO/MLRO, and Enterprise Risk to ensure alignment with group-wide and legal entity-level standards.
• Act as the primary local contact with CIMA, managing regulatory requests and filings, inspections, surveys, reviews, and correspondence.
• Work with Corporate Compliance on regulatory developments to assess their impact on the business, advising senior management on necessary changes.
• Work with internal and external legal counsel to resolve issues and apply compliance and trustee expertise to ensure alignment with company policies.

Trustee-Specific Responsibilities

• Oversee compliance with fiduciary duties under Cayman Islands trust law, including the duty of care, duty to act in the best interest of beneficiaries, and duty to avoid conflicts of interest.
• Ensure that trustee services are delivered in accordance with governing trust documents, internal policies and procedures, and regulatory expectations.
• Implement and maintain oversight mechanisms to monitor trustee activities, including periodic reviews of trust client files, investment monitoring oversight, and delegation arrangements.

Policy & Procedure Development

• Draft, review and maintain local policies and procedures tailored to meet the Licenses’ regulatory requirements..
• Ensure policies and procedures are kept updated to reflect any changes in CIMA regulations, Rules, and Statement of Guidance.
• Attend Cayman-based seminars and industry events to design forward-looking control frameworks that anticipate and address upcoming regulatory changes.
• Apply local industry experience to ensure policies and procedures are both compliant and effective, meeting CIMA requirements and reflecting best practices within the Cayman Islands.

Internal Controls & Monitoring

• Develop and execute a self-testing risk-based monitoring program, including thematic reviews, controls testing, and client file audits.
• Track and remediate operational incidents by logging into corporate system, documenting root cause analysis and remediation plans.
• Ensure timely escalation of material findings.

Training & Awareness

• Develop and deliver targeted training to local staff, directors and officers, internal service providers on regulatory obligations, fiduciary duties, and emerging risks.
• Provide briefings as needed of training to governance committees and the board.

Reporting & Governance

• Work with Corporate Compliance to support the preparation of information and materials required for board reporting
• Collaborate with the AMLCO/MLRO to ensure consistent reporting and escalation of AML-related matters and regulatory breaches to the Board and relevant committees.
• Participate in board and committee meetings, offering input on strategic initiatives and risk assessments.

Qualifications & Experience

Required:

• Bachelor’s degree in Law, Finance, Business, or a related field.
• Professional compliance certification (e.g., International Compliance Association (ICA), Certified Governance, Risk, and Compliance Professional (GRCP), Society of Trust and Estate Practitioners (STEP).
• Minimum 7 years of experience in a senior compliance role within a fiduciary, trust, or fund administration environment.
• Strong knowledge of Cayman Islands regulatory framework and CIMA’s supervisory approach.
• Familiarity with Cayman industry standards and CIMA expectations.

Desirable:

• Experience with trustee services across multiple jurisdictions (e.g., Hong Kong, Japan, North America).
• Excellent communication and stakeholder management skills, including experience facing off with regulators, senior managers and internal audit.
• Ability to interpret and implement regulatory guidance across multiple business lines.

Compensation and Benefits

• The salary range is 100,000 KYD to 150,000 KYD
• Benefits include minimum statutory health and pension benefits.

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.