Who we are looking for
State Street Global Markets, our investment research and trading arm, provides specialized research, trading, securities lending and innovative portfolio strategies to owners and managers of institutional assets. Our goal is to enhance and preserve portfolio values for our clients through original flow-based research, proprietary portfolio and risk management technologies, trading optimization and global connectivity. The position holds responsibility for the governance & oversight of the operations, business continuity, change management and onboarding (client and regulatory) of the SSGM UK division, with over 80 employees across 5 product verticals. In addition, the role will partner with the UK Head of Global Markets, to effectively drive the UK and global GM business strategy, ensuring collaboration in identifying new revenue opportunities and increase share of wallet from existing clients as well as operational efficiencies in line with the Global GM strategy. Why this role is important to us
The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.
Join us if making your mark in the capital markets industry from day one is a challenge you are up for. What you will be responsible for
- Responsible for the oversight of GM UK Operations, On Boarding, Business Controls, Business Continuity and Change Management.
- Bring a strong culture and discipline of change management working in conjunction with the GM Global Head of business and project management.
- Oversight of product execution; ensuring project strategy and execution are clearly split out with tight alignment with the Global Head of business and project management
- Ensure that the GM businesses operate in compliance with internal and external regulations and follows the escalation procedures.
- Report regularly to legal entity boards as well as corporate and regional committees with appropriate, timely and relevant information so that the groups can discharge their responsibilities effectively.
- Establish and monitor systems of control, limits of delegation and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively.
- Drive oversight and MI improvements for Global Markets UK
- Support a culture of effective challenge to ensure appropriate governance.
- Assist in the managing of the on-boarding of SSGM clients. This includes contract negotiation, tax exposure, credit checks, KYC/AML, account set up, platform configuration/IT system set up, etc.
- The overall responsibility for SSGM operational activities executed through the UK legal entity.
- SSGM client support service e.g. queries and fulfilment of client requests, post trade, trade validation, and confirmation.
- The handling and escalation of complaints from clients of SSGM UK
- The responsibility for UK SSGM IT related activities using SSGM UK staff members and/or budget.
- Outsourcing responsibility as delegated by the UK CEO and UK Head of GM as documented in the delegation letter.
- Create, manage, monitor & report on UK Global Markets systems and controls and update and escalate to the UK governance groups as appropriate.
- Responsible for assisting the UK Head of GM in the management of regulatory, reputational, operational, credit and market risk within SSBTC LB.
What we value
- Establish and monitor systems of control, delegated authority and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively
- Establish and monitor an effective delegation framework to ensure that tasks are performed by staff members with appropriate capacity and authority level (based on knowledge, skills and competence).
- Establish and monitor an effective oversight framework to ensure that issues are appropriately identified, escalated and resolved.
- Establish and nurture a culture of 'Risk Excellence' within the team, encourage an environment of openness that welcomes effective challenge and supports open discussion.
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members' behaviour in performing their roles.
- Ensure that the highest level of the Code of Conduct is displayed in your own and staff behaviour.
These skills will help you succeed in this role
Education & Preferred Qualifications
- Minimum of 20 years' experience in senior regional management positions within a regulated global financial institution.
- Previous experience in working with/regular engagement with the UK regulators is key.
- Knowledge of Global Markets (FX, Securities Lending, Research) highly advantageous.
- Direct experience in overhauling and improving business MI and governance
- Direct experience in managing Operations and Onboarding Teams (inclusive, but not limited to, streamlining operating procedures /efficiencies).
- Direct experience in BU specific and legal entity governance.
- Direct experience in working with the Global HUBs, specifically Poland and India.
- Appreciation of internal stakeholder management required within a global organisation aligned by product & region.
- Knowledge of UK regulatory landscape and impact on governance of global markets products.
- Position requires some travel on an as needed basis.
- Strong people leadership skills
- Management of the financials of a business
- Strategic thinking and analysis
- Senior regulatory facing skills
- Proven track record of successful execution
- Risk and compliance excellence
University degree, post graduate/professional qualifications advantageous Are you the right candidate? Yes!
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 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.