Funds Transfer Business Support, Officer

Why This Role Is Important To Us

Fund Transfer is a key function performed across State Street, exposing the enterprise to significant risk due to the nature of the transactional environment of the organization. Significant transformation initiatives, including the company’s digital transformation and expanding business capabilities (which leverage industry best practices and advanced technologies such as cloud, artificial intelligence, and robotics process automation) further enhance the need for this role, which aims to drive consistency across the enterprise.

Funds Transfer activity relates to the movement of funds (cash and securities) on behalf of clients to a beneficiary, usually outside of the Bank, inclusive of all steps from transaction initiation (whether originating internally or externally) to payment processing (monetary instructions) through the Banking system. It also includes activities that facilitate the subsequent movement of funds (collectively known as non-monetary instructions such as the establishment or modification of standing instructions, customer access to payment applications, applications used in the funds transfer life cycle and FTTOP documentation).

Governing that process is key.

Funds Transfer Business Support Specialist

The successful candidate will be responsible for working directly with the Funds Transfer Central Team to help govern Funds Transfer across the enterprise. The candidate will have a reporting line in to the Funds Central Team Lead. The role will include providing SME guidance on the implementation of key fund transfer related initiatives enterprise wide as well as oversight of funds transfer risk and assisting with implementing risk reduction initiatives consistently across the enterprise.

The role will also include assisting on projects/efforts within the team on specific initiatives aligned to improving the tracking of and reporting of risk related to Funds Transfer activity.

Enterprise-wide Fund Transfer risk reduction, including:

• Assisting with Funds Transfer related risk reduction, remediation, and reporting.
• Recommendation & execution of changes to FTTOP Policy and Standards.
• Engagement with teams of other strategic initiatives and policies aligned to Funds Transfer.
• Assist with change management initiatives for funds transfer.
• Metrics compilations and automation of reporting and risk analysis.
• Participate in implementation of technology or IT related initiatives to support effective and efficient management of funds transfer risk.
• Participate in the implementation of central repository for all fund transfer documentation.
• Identify opportunities to use of AI and robotics to optimize automation.
• Day to Day support to BAU teams in interpreting Funds Transfer guidelines and policy. Provide education around FTTOP and Funds Transfer policy.

These skills will help you succeed in this role

• Experience in financial services operations of fund transfer activities/payment processing – SME level knowledge
• Knowledge of applications supporting Funds Transfer activity and the ISRMP process
• Experience on large scale operational transformation initiatives
• Experience in preparing reports for discussion topics, metrics sharing.
• Excellent communication skills
• High level of proficiency with Microsoft Office

• A minimum of a bachelor’s degree in information technology/management or business.
• A minimum of 5 years Financial Services experience.

State Street is one of the largest custodian banks, asset managers, and asset intelligence companies in the world. From technology to product innovation, we are making our mark on the financial services industry.…