Derivatives, Managing Director (Finance)
Who we are looking for
A leadership opportunity exists for the position: North America & APAC Head of Derivatives Onboarding. This Managing Director level position will report to the Global Head of Derivatives & Bank Loans Onboarding. The position will be responsible for new business implementation & existing client change management for the Derivatives COE, which services all of our back and middle office/Alpha clients. This team is also responsible for supporting continuous operating model and STP improvements from trade management through to accounting, pricing and reconciliation - for back office as well as middle office and Alpha.
What you will be responsible for
As North America & APAC Head of Derivatives Onboarding you will:
- Fuel Innovation- Capitalize on new ideas to reinvent ourselves and the business
- Act Globally - Understand different perspectives and cultures to align management practices to fulfill business strategy
- Client Focus & Consultation - Provide excellent service and build strategic client partnerships based on knowledge of their needs and by exceeding mutual expectations
- Problem Solving & Decision Making - Develop solutions and provide counsel to ensure effective decisions are reached by employing timely, rigorous and logical analysis
- Manage Execution - Deliver flawless execution of work products through effective plans, clear priorities and developed process management methods to ensure all resources function at optimal levels
- Quality & Risk Management - Drive high quality outputs and ensure that organizational risks are managed through embedding effective controls More specifically, with a global view toward standardization, risk excellence, you'll have regional oversight including:
- Support sales efforts:
- Representing our derivatives capabilities to clients and prospects; deliver demos and PoCs as needed
- Size deals for implementation and BAU operations for derivatives - cost and FTE
- Define target state derivatives model
- Gap identification
- Solution design and delivery
- Trade mapping (ensuring STP)
- All BUAT, CUAT, Scenario and other Testing
- All conversion activities, including backload, dry runs, dress rehearsals, DITL,
- Approve all new deal SLAs and KPIs for derivatives
- Ensure operational readiness
- Ensure positive client sentiment - each implementation should yield a referenceable client
- Manage scope of services & drive standard solutions
- Track and connect deal budgets and associated headcount to GD and IT budgets
- Convert on time and within budget
Manage existing client change management for derivatives:
- New derivatives fund launches
- Oversee derivatives workstreams on client transformation initiatives
- Proactively identify & pursue opportunities to improve STP and reduce operational risk
- Size all client change requests, oversee solution design and delivery for approved/funded changes
- Support client due diligence reviews and other client discussions ad hoc
- Partner with colleagues in other regions to successfully deliver on global deals
- Ensure clear communication across stakeholder groups
- Manage Digital client implementations where DCOE/DHub will be leveraged
- Lead or support other strategic initiatives as assigned
What we value
These skills will help you succeed in this role
- Proven track record managing and developing high performing distributed teams, including attracting, developing and retaining strong VP-level talent
- Product expert for derivatives, particularly OTC
- Expert knowledge of our Derivatives Centre of Excellence operating model and technology, as well as our Alpha models and capabilities
- Effectively interact with internal and external clients to provide support on a global basis
- Effective communication to resolve complex issues and support implementation of process improvements
- Develop effective relationships with peers by sharing expertise with colleagues and other departments
- Cultivate effective relationships with our internal and external global partners
Education & Preferred Qualifications
- Bachelor's Degree in accounting, finance, business or equivalent
- 12+ years of related financial services experience
- Ability to lead Client on-boarding and/or large project implementations
- An understanding of Change Management
- Ability to evaluate and analyse complex data
- Experience in Middle or Back Office Operations
- Experience in documentation of Operational processes
- Experience with project management methodology
- Direct client facing experience
- Strong analytical and solid time management skills, able to prioritize & meet tight deadlines
- Strong communication and interpersonal skills
- Agile project methodology experience and testing support experience is preferred
- Team Player with can-do attitude and able to roll up sleeves and get into the details, as this is a player-coach role
- Able to travel up to 20%
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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program 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 perspective 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 the 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 program 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.
Discover more at StateStreet.com/careers
IT IS UNLAWFUL IN MASSACHUSETTS TO REQUIRE OR ADMINISTER A LIE DETECTOR TEST AS A CONDITION OF EMPLOYMENT OR CONTINUED EMPLOYMENT. AN EMPLOYER WHO VIOLATES THIS LAW SHALL BE SUBJECT TO CRIMINAL PENALTIES AND CIVIL LIABILITY.
Salary Range:
$170,000 - $252,500 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.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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Salary Minimum: 170000Salary Maximum: 252500