Custody Product Development VP

Quincy, MA, United States

Who we are looking for The Product organization is recruiting for an experienced individual covering Corporate Actions, Income, Tax and Corporate Governance supporting the Asset Servicing Product Development Manager. The individual will partner with the Product team, Global Delivery (operations) and Technology to execute on the overall custody product development initiatives and agenda, in alignment with Custody product strategic objective to strengthen State Street’s position in the industry. State Street’s product organization is leading an exciting period of transformation for the business and requires experienced individuals to take the business forward. The role will Initiate and support designing, developing solutions and closing product gaps to support client retention, client growth, enhance client experience and operating framework including product standards for Asset Servicing including drive and oversee execution of approved product change/development. The person would have the depth and expertise to effectively develop requirements, solutions and have the SME knowledge to execute on the overall custody product development initiatives and agenda described above. The role will support the Asset Servicing lead. The role requires you to be proactively involved in the assessment of available market intelligence (trends, innovations, regulations, market changes), grasp of the technical and functional aspects of the service and stakeholder feedback (clients and coverage/product management) to support the evolution of the custody business. This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements. Why this role is important to us You will be joining the Institutional Services function that allows us to deliver a comprehensive, holistic approach to each client relationship — for asset managers and asset owners, insurance companies, and official institutions globally. It means our client-facing functions work together to bring the very best solutions and services the firm has to offer — across all of our locations, products, and capabilities. Join us if making your mark on the long-lasting client relationships we build is a challenge you are up for. What you will be responsible for As you will Assist the Asset Servicing Product Development Manager on creating a clear Asset Servicing product roadmap in-collaboration with Custody Product Development head

Support in the development and analysis of product-related change, including commercially-viable and client focused business cases, with prioritization and approval of product, operational and regulatory change. Business cases to be managed in-collaboration with Product Management, Technology and Global Delivery.

Ensure change remains aligned to existing regulation and/or internal policies.

Support design and efficiency of the operating model, standards and technical stack/architecture, with an objective to simplify where possible working with the Product Management, Technology and Global Delivery.

Support objective for Custody services to be viewed as thought leaders in the industry (clients, peers) and gather industry intelligence to develop the product roadmap ( includes participating in industry forums, working groups etc.)

Responsible for ensuring appropriate governance, compliance with policies/frameworks and oversight of issues, risks, audit and compliance items

What we value These skills will help you succeed in this role: ASSET SERVICING product and operational background or experience

Subject matter knowledge across Asset Servicing

Strong analytical skills

Prior experience of successfully delivering change in a complex environment whilst managing competing environments, and delivering projects using Agile and Waterfall techniques

Proven change agent with track record of delivery

Integration and understanding of impact on Data Management

Track record of engagement with complex clients, solutioning operating models and translating requirements into feature function capability for State Street Custody platform

Familiarity with industry integration tools and their applicability in shortening the chain of custody across the investment lifecycle

Strong stakeholder management skills with an ability to navigate organization through the solution delivery cycle

Education & Preferred Qualifications Seasoned VP with 7+ years experience in Securities Services

Worked in Product organizations in prior roles

Operated at a global level

Prior experience working in Operations and/or technology

Consultative experience working with institutional investors

Track record of solving data integration challenges across complex and at scale services

Additional requirements In depth understanding of Asset Servicing product and related data management;

Proactive input and idea generation for product development roadmap

Maintain up to date understanding of regulatory headwinds and other industry disruptors and industry bodies that could impact the area

Responsible for issue and risk escalation

Project /initiative ownership as requested, with appropriate reporting (with PMO) of prioritized and approved change

Appropriate governance and audit trail on documentation of all key decisions and actions.

Split of role: Product Design & Development : 30%

Business Analysis : 60%

Market / Client interaction : 10%

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. Salary Range: $110,000 - $185,000 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.

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