Global Head of SSGA Funds Management, SVP
- State Street
- Boston, Massachusetts/New York, New York/London, England
- Not disclosed
- 02 Feb 2023
- 02 Mar 2023
- Approved employers
- Approved employer
- Job role
- Compliance/risk, Financial analyst, Fund accountant, Tax
- Contract type
- Full time
- Experience level
State Street Global Advisors is one of the largest asset managers in the world, with $3.26 Trillion in assets under management. We offer one of the broadest ranges of strategies across asset classes, risk profiles, regions and styles. We deliver these strategies through a wide range of vehicles – including both registered and unregistered funds in major global jurisdictions – from Australia and Japan, the UK, Ireland and Luxembourg and the USA. Solutions include our pioneering ETFs, mutual and UCITS funds.
The SSGA Global Funds Management team is responsible for the oversight of these funds – including fund administration and tax services, support of product and distribution objectives, implementation of certain regulatory requirements, oversight of service providers, management of fund expenses and fund disclosures. The team also supports the various fund governance arrangements – including fund boards and management companies. In fulfilling these obligations, we must ensure the interests of investors are at the heart of what we do.
The Head of Global Funds Management (“GFM”) will set and execute the strategy of the Global Funds Management function, ensuring it is aligned with the firm’s global business strategy.
The Head of GFM will lead a team of individuals to deliver on these strategic Objectives, achieve Key Results and support our business partners (including our ETF and Institutional business partners) in meeting their objectives.
Join us if making your mark in the asset management industry from day one is a challenge you are up for.
What your will be responsible for
This successful candidate will be senior member of the organization’s Global Chief Operating Office, reporting directly to the Global COO.
The Head of Global Funds Management has teams based in North America and Europe, reflecting the different business, regulatory and operating environments in the respective regions. There are also interactions with teams in APAC.
For example, in Europe, we operate EU UCITS and AIFs, operating under an Ireland Management Company, including our UCITS ETF fund range. We also operate UK UCITS and Life Funds. In North America, we primarily support Mutual Funds, ETF and Collective Investment Trusts ranges
The successful candidate will have experience of the regional funds management environments, regulatory and governance expectations – and will be able to lead and support the Funds Management teams in all regions. There is also commonality in how we support our global business – and the successful candidate should also ensure global best-practice and process standardization/efficiency whilst meeting the need of our global business partners.
The team ensures strong governance and regulatory compliance for our products globally and an unwavering focus on investor protection whilst also supporting our ETF and Institutional team in meeting their business strategic objectives.
The role requires close interactions and partnerships with global leaders and collaboration with the primary businesses functions, including Product, Distribution, Operations, Technology, Compliance, Legal and Risk.
An important responsibility of the function is oversight of service-providers (principally but not exclusively State Street) who provide services including custody, fund accounting/administration and financial reporting, and managing relationships with fund Auditors.
Your role will include:
- Manage a team responsible for fund board relationships; with extensive director engagement and governance responsibilities of a wide range of product structures and domiciles; specifically
- In EMEA, members of the team serve in various roles including as CEO for two European Fund Companies and as Interested Corporate Board Directors.
- In US, members of the team serve in various roles including Treasurer and other officer capacities of the Advisor and its Trusts.
- Lead a group of 75+ employees located in US, Ireland, London and Poland with responsibilities for the general Fund Administration including expense, tax, financial reporting, disclosure documentation, regulatory reporting, assessment of value and annual contract renewals 15(c).
- Active ongoing engagement with stakeholders including; business partners, regulators, auditors to ensure ongoing product effectiveness.
- Ongoing oversight of vendors and service providers, including engagement with them on evolving/new requirements.
- Ensure investor protection is at the heart of what we do – e.g. in the appointment of service providers, management of the funds (including issue management) and in assessment of value.
- Understand global investment management regulatory environment with a focus on new and pending regulations. Ensure our funds globally operate in line with regulation and local governance standards.
- Instill a culture and environment of risk excellence.
- Collaborate with executive team to align priorities and expectations across the firm and its affiliates (custodian, transfer agent, securities lending and investment operations)
- Engage with enterprise information management and technology to influence data governance to support data integrity.
- Identify key performance metrics for evaluating effectiveness against objectives.
The successful team leader should possess high-end interpersonal skills, strong written and verbal communication capabilities, and deep investment product expertise across various product types and geographies.
The Global Funds Management team will fulfill its function effectively by
- Working collaboratively with business partners in Product, Legal, Distribution, Risk and Compliance prioritizing efforts to successfully implement and support new products, services and projects.
- Understand regional business, regulatory and operating requirements. Working with business partners in each region, and globally, to ensure their needs are met and that funds operate in line with these requirements. (e.g. supporting the addition and maintenance of regional/country specific product certifications/labels/tax statuses in order to maintain competitive positioning in the market)
- We operate in a complex multi-jurisdictional environment with increasing regulatory change (e.g. UK/EU divergence post-Brexit, UK Consumer Duty, EU ESG regulation etc) Align closely with business leaders to evaluate the regulatory environment in the investment management industry. Engage in significant enterprise-wide initiatives that impact our product lines.
- Serve on certain fund boards and engage with independent board of directors in providing effective fund governance with proactive communication, follow-up and agenda management.
- Manage ongoing requirements for an effective product range offering including expense oversight, disclosure reporting, financial statement production and tax.
- Demonstrate skills in problem assessment and resolution as well as collaborative problem solving in a complex setting.
- Possess excellent communications skills within an organization and among independent fund directors.
- Proven ability to achieve results with the persistence and patience necessary to work effectively with a wide range of internal and external constituents.
- Proven ability to handle multiple priorities and lead team efforts.
- Strong analytical interpersonal written and oral presentations skills.
- Staying abreast of industry trends and competitive dynamics to identify emerging threats and opportunities
- Positive attitude, strong work ethic, ability to execute independently yet also maintain strong team orientation
- Extensive engagement with affiliated and unaffiliated board of directors.
Education & Preferred Qualifications
- 17+ years’ experience in fund administration, tax, product management, compliance or equivalent role in the asset management industry
- Advanced degree in Business or Finance and/or CPA designation preferred
- Strong project management skills and ability to manage complex projects to tight deadlines
- Strong technical skills related to product structures, operational platforms, regulatory regimes, etc. globally
- Attentive to detail with an ability to look critically at a problem and proposed solutions
- Ability to build, manage, develop and motivate a high-functioning, diverse team to deliver results
- Ability to influence colleagues to support business goals
- Strong commercial mindset and ability to break down barriers to achieve business goals
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 Global Advisors
What We Do. As the asset management arm of State Street Corporation, State Street Global Advisors has served the world’s governments, institutions and financial advisors for over four decades. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become one of the world’s largest asset managers with trillions of dollars under our care.
Our Mission. At State Street Global Advisors our mission is to invest responsibly to enable economic prosperity and social progress. We are driven by a desire to help our clients, and those who rely on them, achieve a better future. We have a long history of developing innovative investment strategies to provide our clients with reliable and transparent returns, cost-effectively, and without excessive risk.
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.
Company: State Street Global Advisors
Salary Range:$225,000 - $337,500 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.