Custody Product Development - AVP

Job Description

The Product organization is recruiting for the lead role covering Corporate Actions, Income, Tax and Corporate Governance supporting Global Head of Custody Product Development globally.

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 leaders 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 focus of the role is building out the SME/BA capabilities within asset servicing practice in Custody covering across all key segments – asset managers, asset owners, SWF and FIs

Function

As the lead you will establish the Asset servicing practice that has the depth and expertise to effectively execute on the overall custody product development initiatives and agenda described above. The role reports to the Head of Custody Product Development.

The role requires you to be proactively involved in the assessment of available market intelligence (trends, innovations, regulations, market changes) and stakeholder feedback (clients and coverage/product management) to support the evolution of the custody business.

Responsibilities

• The AVP will have responsibility for the following
• Leading a project in support delivery of the Asset Servicing / Core Custody product roadmap, working in collaboration with Custody Product Value Stream Lead and contributing analysis, execution input, and dependency management.
• Assist with the analysis of product‑related change, including development of commercially viable and client‑focused business cases, and support prioritization of product, operational, and regulatory change in collaboration with Product Management, Technology, and Global Delivery.
• Lead delivery activities remain aligned with applicable regulation and internal policies, escalating issues and risks as appropriate.
• Contribute to external and internal market awareness by gathering industry intelligence and participating in relevant forums and working groups to inform product and capability evolution.
• Support governance activities, including compliance with policies and frameworks, and assist with tracking and oversight of issues, risks, audit, and compliance items related to assigned initiatives.
• Prepare materials and present updates to senior management as required, and support delivery of assigned initiatives across the change lifecycle.

Skills

• Custody and operational background or experience
• Subject matter knowledge across custody capabilities. (e.g. Corporate Actions, Income, SWIFT, Settlements, Tax and Corporate Governance)
• 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
• Agile Development a plus

Experience

• Seasoned Officer with 5+ 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
• Strong team leadership and management skills
• Track record of solving data integration challenges across complex and at scale services

Outcomes expected from the roles

• 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: 45%
• Business Analysis: 45%
• Market / Client interaction: 10%

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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