AVP, Middle office

Recruiter
State Street.
Location
Hyderabad, India
Salary
Not disclosed
Posted
18 May 2022
Closes
31 May 2022
Ref
R-703407
Contract type
Permanent
Hours
Full time
Experience level
Manager

Business Line Information

Alpha Middle Office team

The role of Middle Office in the organization is to handle critical and time sensitive controls, executions and decisions within investment operations. MO teams are responsible for position management, trade confirmation and settlements, corporate action processing, collateral management, cash and position reconciliation. Many teams have direct contact with clients and act on their behalf while interacting with internal and external parties.

Purpose of Role:

(Summaries the job’s intent and why it exists, in one or two sentences)

Confirm department/teams the role will interact with on a day to day basis

Overall ownership – Strategy, Operations mgmt, Change mgmt, Transformation, People mgmt, financials for a functional team. Work at global level with global function heads, as also Hub, Shared Service teams/COE’s, JVs, Client Operations and other business units to ensure seamless processing according to the fund’s policies, to ensure that all SLAs are met. As well as, Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.

Drive the execution of global as well as India hub specific initiatives at State Street. This role will require the individual to lead a team of qualified professionals, each working in their individual capacity on parallel workstreams, and partner with the different business units and corporate stakeholders within India and across the globe, to carry out operating model changes, process optimization and technology enablement activities, and to drive adequate baselining of metrics and measurement of impact.

Major Responsibilities:

(Identify 5-8 major responsibilities performed by the job. Include the approximate percentage of time performing each responsibility during a typical week/month. If the percentage of time performing a function is less than 5%, that function should not be listed)

Role specifics

Operations:

  • Own and Deliver Operating Model development & Execution
  • Enable all engagement between Delivery teams & client facing teams to improve services
  • Own Quality of Deliverables – KPIs, KRIs, management of exceptions
  • Identify and implement consistent operational best practices.
  • Actively manage executive global stakeholders across Global HUBS, Global Delivery and Global Services
  • Track accurate and timely completion of activities covered by team including but not limited to
  • Be responsible for the full post trade and life cycle management of all bilaterally traded OTC derivatives. Receipt of bilateral OTS trades executed on an electronic trading venue or voice traded Trade Confirmation/affirmation of trades and submission to clearing Collateral Management Cash break resolution Lifecycle Management Management for the full cycle management of all cleared OTC Derivatives Receipt of Cleared OTC trades executed on the electronic trading venue of voice traded. Trade Confirmation/affirmation of trades, including clearing status monitoring Pre & Post trade margin management
  • Drive innovation, transformation and productivity, not only in India but globally across the delivery organization
  • Promote Risk excellence

Managerial Responsibilities

  • Lead one or more of the MO functions, manage client experience and operational delivery including change and transformation. The role is based in India and responsible for managing delivery.

Managing new business onboarding and allied responsibilities

  • Shoulder new business onboarding responsibilities for various MO functions for clients using different technology platforms. This requires through understanding of MO controlled environment, associated risks and safeguards for such risks

Change Management

Partner with the business leads to deliver efficiency and effectiveness of the business processes and operating model.

  • Collaborate with business SMEs to ensure execution of the changes at the business operating model and process level
  • Act as a liaison between the business and IT to scope out, assess feasibility and drive the digital transformation strategy, to include aspects of automation, AI and ML.
  • Conduct baselining of key metrics corresponding to all the changes, by identifying the key parameters to be measured for each implementation and partnering with business to gather adequate data.
  • Manage, track and report on the progress of each initiative across functions to drive successful execution
  • Assess, identify and mitigate the risk areas for each initiative and actively work on activities to report the risk to appropriate forums, escalate to management where required and drive actions for mitigation
  • Coordinate the implementation of new funds, systems and processes as well as assists with client conversions and other client projects.

PERSON SPECIFICATION

Level of Education/ Specific Qualifications:

  • Bachelor’s/Master’s Degree in Commerce / Economics with a specialization in Business, Accounting, Finance or equivalent. Professional qualification like CA, CMA, CPA is a plus

Skills and Experience - interpersonal, numerical, problem-solving, analytical, etc.

This is a key position and requires senior leadership and advanced skills-

  • Overall 12-18 years and substantial relevant experience in middle office operations, part of which must have been in a management or supervisory capacity
  • Proficient in the middle office functions like trade life cycle, treasury ops, derivatives, income, corp actions, reference data is required
  • Knowledge of Aladdin platform is desirable.
  • Understanding of operational functions within middle office operations. Ability to provide technical expertise to resolve daily problems
  • Should have worked directly with clients and counterparties in a global context
  • Should have led operations at a global level, across countries & regions
  • Should have experience of end to end ownership of operations, with direct accountability on business, client and risk metrics (including losses)
  • Demonstrated leadership beyond operations, working with Risk, Technology, Automation and Change groups to drive BAU and transformation at scale
  • Being comfortable with ambiguity and the ability to work with well with teams, particularly ones that span different reporting lines, cut across multiple functions and geographies
  • Proven leadership skills as well as managing and developing a high performing operations teams
  • Proven track record of achieving/exceeding financial goals through expense discipline and headcount management, experience on investment decisions is desired
  • Proven ability to generate innovation ideas, manage project pipeline and ultimately transform businesses
  • Demonstrated ability to manage, coach and influence colleagues and virtual team members
  • Ability to work within a collaborative environment to achieve results
  • Should be open to work in EMEA and/or North American shift hours as needed by the business
For further information, and to apply, please visit our website via the “Apply” button below.

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