State Street

Payments Specialist - State Street Global Advisors, AVP

State Street
Boston, Massachusetts
Not disclosed
26 May 2023
01 Jun 2023
Approved employers
Approved employer
Contract type
Full time
Experience level

State Street Global Advisors, the asset management division of State Street Corporation, is actively hiring a Payments Specialist. This Assistant Vice President level position will report to the Head of Shareholder Services in the corporate headquarters at the Channel Center Building in Boston. This position is hybrid – working in the office 1-2 times a week.

The Payment Specialist’s primary responsibility is to provide input and expertise on payments related projects with the Shareholder Services team as we transform our operating model over the coming years.

The Payments Specialist must have an in-depth understanding of US Fed Wire and Swift payment protocols. Familiarity with State Street systems such as TIER and Instruct a plus. Ability to understand complex operating models and develop sound solutions that can work across geographical and product lines is critical.

As Payments Specialist, you will:

  • Provide input and expertise to Shareholder Services transformation projects around payments.
  • Develop a strong understanding of the current state of operations and provide guidance and direction for the team to achieve the desired state.
  • Lead and train team members globally on Swift and other payment related topics
  • Review existing security settlement instructions to ensure there are no gaps, and work to remediate any identified gaps.
  • Identify and rectify operational issues that hinder straight through processing
  • While located in Boston, this position will provide input to transformation globally and will therefore need to both develop an understanding of the other site’s functions and processes and provide global solutions.
  • Work with clients and custodians on problem resolution when settlement issues arise; manage client claims program for any resulting overdrafts
  • Create and maintain payments procedures and perform testing to ensure compliance with controls
  • When staffing/coverage requires, participate in other departmental tasks as needed

Education & Preferred Qualifications

  • Bachelor’s degree in Business, Finance, or equivalent work experience
  • Minimum 7 years in financial services, with a focus on payments; relevant experience in a payment processing environment preferred
  • Demonstrated experience in US Fed Wire and Swift messaging formats and protocols. Strong understanding of Swift messaging, including detailed knowledge of mandatory and optional field requirement for MT 103s and MT 202s
  • Familiarity with State Street applications such as TIER and Instruct a plus
  • Work experience or demonstrated ability for exceptional time management capabilities and strong project management capabilities
  • Ability to work in a complex, global, fast-paced environment and deliver solid action-oriented results quickly in a hybrid Work Environment
  • Team player able to work effectively at all levels of an organization
  • Excellent collaborative, interpersonal, organizational, and communication skills (written and verbal) including a confident and professional telephone/video presence
  • Demonstrated problem resolution and analytical skills
  • Self-motivated, takes initiative

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:

$80,000 - $132,500 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. 

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