Who we are looking for
We are looking for a dynamic individual to lead our State Street Global Markets (SSGM) Collateral + Operations organization. Collateral + brings clients end-to-end capabilities that include pre- and post-trade optimization tools. We help clients manage liquidity, risk, collateral transformation and regulatory compliance. For our clients manage counterparty exposure, monitor collateral needs and eligibility, and coordinate an optimal response to margin calls. Our Collateral+ solutions give clients deeper insights into their portfolio to help reduce portfolio drag, manage cash positions, address changing regulations and strengthen their business.
Operations supports all operational needs of the product that includes onboarding, contract negotiation (i.e., CSA), data maintenance, calculation, calls and instruction of margin, calculation of Independent Margin amounts (SIMM), reconciliation and regulatory reporting.
We are seeking a Global Head - SSGM Collateral + Operations (Managing Director) - to lead the global team that supports the GM Collateral + business.
Why this role is important to us
- Margin Management Our core process includes maintenance of credit support documents. Services includes calculation of over-the-counter (OTC) derivatives exposures, calculation of FX forwards. We value collateral balances, calculation of residual exposure, issuance of collateral calls and responding to collateral demands to or from counterparties, reconciliation of positions and valuation, resolving valuation disputes, processing collateral settlements, sweeping cash collateral into cash reinvestments.
- Third Party Provide safe custody and default management to the two trading parties. The trading counterparts retain the responsibility for settlement instruction, valuation and selection of collateral.
- Tri Party Our tri party service is an effective way to manage the collateralization process for a number of transactions. The tri party process is widely used by market participants to collateralize and manage initial margin requirements arising from the uncleared margin rules. Tri party allows for automated collateral selection, valuation and margin calls. The trading parties agree to the amount to be collateralised and instruct the required collateral value (RQV) to State Street tri party service to fulfill the collateral requirement. State Street establish accounts for both trading counterparts and manages the transvers between the accounts in accordance to pre agreed rules set by the two trading counterparts.
The team you will be leading plays an important role in the overall success of the organization. Across the globe, SSGM Collateral + operations perform functions to meet our settlement and reconciliation obligations that includes managing the post trade execution life cycle. The role empowers our employees navigate the organization as a whole and drive outcomes to manage risk and ensure solutions are straightforward and scalable. The role will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for. What you will be responsible for
As Global head - SSGM Securities Collateral + (Managing Director) - you are responsible for day-to-day oversight of 200 employees in global locations including Americas, EMEA and Asia Pacific. The role is responsible for designing and executing an annual Collateral + Operations roadmap that evolves technology to drive automated, scalable processes and incorporates a business plan to accommodate growth and revenue generation. Significant consideration is applied to a risk framework to ensures controls are in place to mitigate areas of exposure.
Education & Preferred Qualifications
- Drive day-to-day operational efficiencies through standardization and continuity of process with a 24/6 model
- Create a performance culture by empowering employees to operate in a high-performing team that delivers tangible outcomes
- Evolve our technology road map to operate to scale and supports growth with automation rather than exception processing
- Partner with business heads to understand revenue opportunities so we support them with optimal operating models
- Work across State Street corporate partners and COEs to ensure we escalate and resolve issues proactively
- Understand the evolving regulatory environment to ensure processes are in place to capture and support change
- Oversee performance and risk indicators with productive reporting and metrics
- Review, maintain and/or implement controls when applicable to reduce risk
- Support the 'Risk Excellence' culture within the business
Are you the right candidate? Yes!
- Deep understanding of Financial Markets and operational processes
- Demonstrated record of managing risk within operational environments
- A Change Management mindset and proven records of leading large scale inititaives
- Understanding of Custody, Fund Accounting, and Transfer Agency roles in the delivery of data for the hedging process desired.
- Master's in Finance, MBA, or CFA strongly preferred.
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 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