Middle Office, Assistant Vice President
- State Street.
- Berwyn, Pennsylvania
- Not disclosed
- 13 Jan 2023
- 13 Feb 2023
- Contract type
- Full time
- Experience level
Who we are looking for
To support the lifecycle of Transaction Management; involves the capture, validation, confirmation and settlement of transactions instructed by the primary investment manager and any sub advisors. The process begins when we receive executed transaction instructions from the investment manager via one of several standard message formats. Manages the day-to-day activities and controls and monitors the decisions of the staff to ensure consistency of policies adherence to procedures and compatibility of services to clients
Why this role is important to us
The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS’ tools help our clients make better investment choices and act on growth opportunities.
Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What you will be responsible for
- Responsible for the direction and training activities of the staff.
- Conducts periodic performance reviews; provides ongoing counsel, training, development and motivation.
- Participates in the hiring, salary, promotional and termination recommendation process.
- Manages the day-to-day activities and controls and monitors the decisions of the staff to ensure consistency of policies adherence to procedures and compatibility of services to clients.
- Serves as lead for operations in client presentations or for projects that impact operations.
- Proposes and works to implement workflow changes and supporting technical solutions leading to improved productivity and profitability.
- Keeps abreast of regulatory compliance and developments for the assigned area and apprises staff as necessary. Recommends procedural changes as needed to support prescribed requirements and risk mitigation.
- Represent the corporation by serving on the internal and external committees and industry associations.
- Ensure that a robust control environment is created and maintained for all groups.
- Evaluate current operational and technical infrastructure and define strategic direction for development and change; including opportunities for efficiency and quality improvements.
- Understand current service offering related to market requirements and define and recommend service changes as appropriate
- Drive execution of internal projects and divisional goals related to the operations & client service departments
- Execute overall business plan in assigned areas.
- Set and monitor departmental productivity, efficiency and quality measures.
- Assess measure and manage risk exposure as part of standardized business practices; immediately address and escalate issues, as appropriate, to sustain strong financial performance.
- Creates and manages relationships with key contacts in departments that interact with the operations assuring they are satisfied with their level of service
Education & Preferred Qualifications
- Bachelor’s Degree or its equivalent in Finance, Accounting, Business or related field
- Two or more years of management experience, preferably in a financial services organization much of which must have been in a management or supervisory capacity
- Demonstrated managerial, leadership and decision making abilities.
- Knowledge of all products services and processes.
- Working knowledge of financial securities markets, language and products as well as legal and regulatory requirements
- Detailed knowledge of Investment Instruments such as: Equity, Fixed Income, Foreign Exchange, Exchange Traded Derivatives, Liquidity
- Excellent communications, organization, interpersonal planning, and analytical skills
All of the competencies listed are important and should be used to define the evidence that would be required for the selection process:
- Managing the Business: The ability to take a broad perspective, seeking and identifying opportunities for new initiatives and the ability to evaluate and improve processes in order to add value to the business. Goal driven with a desire to succeed.
- Analytical Thinking: The ability to gather information, test propositions and connect related and unrelated matters in preparation for decision-making. The ability to clearly present the rationale for decisions and question/challenge feedback received if not clear.
- Decision-Making: The ability to use sound judgement to provide recommendations and make decisions that add value to the business.
- Initiative: Display pro-activeness and the ability to organize work effectively, plan ahead and consider alternative options or strategies
- Technical Ability: The ability to apply well developed technical skills to meet all the needs of the role
- Communication: The confidence to present information effectively and to provide written reports and communicate effectively at all levels of the business.
- Team Work: The ability to work effectively as part of a team, but also the ability to lead and motivate. Ability to resolve conflicts. Generates enthusiasm among team members and challenges others to develop as leaders.
- Organization & Administration: The ability to organize, work effectively, plan ahead and consider alternative options or strategies.
The characteristics which underpin competent performance:
- Flexibility: The ability to accept and adapt to change handling new and/or unfamiliar situations
- Independence: The ability to adjust ones views in the light of changing circumstances. Self-motivated, self-assured.
- Resilience: The ability to withstand pressure, willingly working extended hours as and when necessary and work within critical deadline situations.
- Assertive: direct discussion assertively but with understanding of how others need to receive information and without aggression
- Integrity: Maintain a professional and trustworthy approach to all role requirements
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:$65,000 - $102,500 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.
For further information, and to apply, please visit our website via the “Apply” button below.