Prime Services Operations Lead - Vice President, State Street Markets

Job description:

Prime Services Operations Lead - Vice President The Prime Services Operations Lead, Vice President, is a leadership role responsible for overseeing the operational support of Prime Services borrowing and lending activities, including settlement processes, collateral management, recon, billing, and corporate action event processing. This role ensures accurate trade processing, proper collateralization, asset servicing, risk mitigation, and regulatory compliance, while leading a global team and driving strategic improvements.

The position also involves close collaboration with business partners to drive innovation in processes and systems to enhance efficiency, scalability, and risk management, ensuring operational solutions are closely aligned with State Street’s business objectives, industry practices, and evolving market needs.

Key Responsibilities Provide governance/oversight of regional teams functions/controls/operating model

Translate business priorities/strategy from senior stakeholders into clear execution plans across teams/hubs, documenting material issues/risks appropriately

Track KRI/KPI/performance against business objectives and strategic priorities

Ownership/accountability for operational hub performance, efficiency, and risk Drive operational preparedness for new products, tech transformations, and regulatory changes

Provide executive level reporting to communicate operational health, risks, trends, resource requirements, and improvement initiatives to senior leaders

Key Team Responsibilities
1. Trade & Transaction Management Oversee daily processing of Prime Services transactions across markets (borrowing and lending transactions, collateralization/margin calls, triparty transactions, cash movements/wires, billing, and corporate actions)
Ensure timely and accurate trade capture, confirmation, settlement, and reconciliation

Partner with global custody teams on trade statuses and adjustments

Manage trade lifecycle events, like cash dividends, and mandatory/voluntary corporate actions, monthly billing processes
2. Collateral Management Initiate and support client(borrower) side financing/collateralization waterfall, as well as Lending agent side collateralization(bilateral/triparty) processes

Manage initial collateral, collateral returns, margin calls, collateral disputes

Assist in optimizing collateral usage across funding, risk, and trading desks

Intraday and End of Day collateral sufficiency monitoring
3. Risk & Control Identify and mitigate operational, settlement, counter party, and corporate event risks

Ensure strong internal controls and adherence to audit requirements

Investigate and resolve cash/share internal/external breaks, fails, and counter party discrepancies

Provide viable solutions and KRI’s to reduce and/or eliminate risk to Prime Services, State Street, and its clients
4. Regulatory Compliance Ensure all Prime Services operational processes comply with relevant regulations, internal policies, and industry standards

Support reporting requirements and regulatory audits

Participate and track internal and external audits throughout the year, ensuring all deliverables and action items are handled timely

Maintain up-to-date knowledge of evolving regulatory/market changes
5. Stakeholder Management Partner with Front Office, Risk, Treasury, Finance, and Technology teams to understand requirements, delivering solutions that support business growth and risk mitigation

Act as escalation point for operational issues working with teams to resolve and/or remove road blocks, and ensuring management transparency

Maintain relationships with counter parties, custodians, and clearing agents

Manage relationships with external vendors and technology partners, ensuring optimal performance and value from third-party platforms and services
6. Team Leadership Manage and mentor operations staff and AVPsDrive performance, training, and development

Promote a culture of accountability and continuous improvement
7. Process Improvement & Projects Identify emerging technologies and process improvements to drive operational efficiency, trading profitability, risk reduction, and enhanced client experience with Prime Services products

Participate in system implementations and strategic transformation programs

Enhance scalability and efficiency of operations

Partner with business leaders, risk, compliance, and technology teams to understand requirements, delivering solutions that support business growth and risk mitigation

Required…