Markets and Financing Operations (MFO), including Client Onboarding and Lifecycle Maintenance (COLM), is a highly diverse suite of functions and processes with a heightened degree of criticality, complexity and time sensitivity with exposure to regulatory, reputational and financial risk.

A plethora of projects and initiatives being run in a highly dynamic environment demands a high degree of undiluted focus to be able to deliver excellence in client service at the least cost and best in class controls.

Managing to deliver all of the above while remaining focused on “Business as Usual” makes it a daunting task for operations managers and is seen to either delay deliveries or compromise on quality.

This role is being created within the MFO team with a view to deliver operational excellence in an efficient, controlled and effective way. The role not only focuses on significantly enhancing focus on strengthening the control framework and continuing to drive efficiencies but also look to introduce best practices, projects and initiatives that will build an end-to-end governance framework on payments as well as all other aspects of risk. The role cuts across Global Markets (GM), Global Credit Finance (GCF) and Onboarding functions (COLM).

Why is this role important to us

The team you will be leading plays an important role in the overall success of State Street Global Markets (SSGM). The role empowers our employees to navigate the organization as a whole and drive outcomes to manage risk and ensure solutions are straightforward and scalable. The role will help us build resilience and execute day to day deliverables at our best.

When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM’s number one goal is to enhance and preserve our clients’ portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.

Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

Key expectations from the role :

Design an exhaustive Payment Governance Framework that cuts across defining key payment controls, evaluating all processes and systems involved in making payments that expose gaps in payment controls, implementing tools and best practices to plug those gaps, defining modes and frequency of testing these controls and also evidencing the same.

Drive the successful implementation of operations strategy and new operating model.

Evaluate vendor strategy and look to consolidate or insource where required.

Drive realignment of functions / processes / activities both within GM, GCF and across Global Delivery (GD).

Build or implement best practices and tools that ensure optimum utilization of resources .

Partner closely with Line Ops managers and BRMs in identifying any control gaps in the processes and systems and work towards remediating the same.

Be the SPOC for Audits to navigate successfully through all internal and external audits ensuring a 100% satisfaction rate.

Work with other departments like GD to identify, share and borrow best practices .

Drive the transformation strategy working closely with Technology teams to significantly enhance efficiency and controls, including payment controls and ensure projects are delivered to plan.

Stay abreast of all regulatory and market changes and ensure adherence and no impact to service standards as a result of these changes.

Act as the gatekeeper and ops representative for all new business that impacts ops with a view to ensuring appropriate resourcing as well as service to clients.

Partner with ERM and compliance colleagues globally to ensure MFO remains disciplined with respect to adherence to resiliency strategy, control assurance etc.

Ensure adequate quality in terms of write ups of incidents, documentation of effective remedial actions, as well as timeliness around raising incidents in ICAMS in ensured.

Identify and drive synergies between various functions within MFO.

Extend support in executing location strategy .

Ensure vendor oversight and hold them accountable to high standards of delivery.

Ensure TPRM, ISRMP etc . are all reviewed and addressed ahead of deadlines

Who we are looking for

We are looking for an industry leader with hands-on experience in at least 2 of the following functions namely ops transformation, project management, vendor oversight & governance and operational risk. The individual needs to exhibit a thorough understanding of how a banking operations team is run with knowledge of all allied functions, both upstream and downstream and how they all fit into the larger operating environment of the bank. The individual should be highly energetic, exhibiting executive presence, effective communication, stakeholder management and be adept at conflict resolution and influencing others. The individual should be possessing experience of having worked in Banking Operations for at least 20 years in a large multi-national bank. The individual should be adept at multi-tasking, exhibiting ability to react quickly to challenging situations, managing stakeholders, delivering excellence to clients and manage a team of circa 40 employees, giving them direction, motivation and helping build their careers. Key focus on identifying risks, enhancing controls and being able to drive innovation is essential.

The role is at a Managing Director level and will report directly to the Global Head of Markets and Financing Operations and could be based out of Boston / India. The product owners team, transformation team and other enabling functions within MFO will roll up to this individual.

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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program 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 perspective 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 the 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 program 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 StateStreet.com / careers