Custody Product Development Manager/Lead – Asset Servicing , MD

The Product organisation is recruiting for the lead role covering Corporate Actions, Income, Tax and Corporate Governance supporting Global Head of Custody Product Development globally. The individual will partner with the Product team, Global Delivery (operations) and Technology to execute on the overall custody product development initiatives and agenda, in alignment with Custody product strategic objective to strengthen State Street’s position in the industry. State Street’s product organisation is leading an exciting period of transformation for the business and requires experienced leaders to take the business forward. The role will Initiate and support designing, developing solutions and closing product gaps to support client retention, client growth, enhance client experience and operating framework including product standards for Asset Servicing, including drive and oversee execution of approved product change/development. The focus of the role is building out the SME/BA capabilities within asset servicing practice in Custody covering across all key segments – asset managers, asset owners , SWF and FIs Function As the lead you will establish the Asset servicing practice that has the depth and expertise to effectively execute on the overall custody product development initiatives and agenda described above. The role reports to the Head of Custody Product Development. The role requires you to be proactively involved in the assessment of available market intelligence (trends, innovations, regulations, market changes) and stakeholder feedback (clients and coverage/product management) to support the evolution of the custody business. Responsibilities The lead for Asset Servicing will have responsibility for the following Support development and maintenance of suite of Custody products focused on delivering NIAT growth through enhancing/digitising products, generating client value, delivering by geography and capability Deliver a clear asset servicing product roadmap in-collaboration with Custody Product Development head Responsible for analysis of product-related change, including commercially-viable and client focused business cases, with prioritisation and approval of product, operational and regulatory change. Business cases to be managed in-collaboration with Product Management, Technology and Global Delivery. Ensure change remains aligned to existing regulation and/or internal policies. Support design and efficiency of the operating model, standards and technical stack/architecture, with an objective to simplify where possible working with the Product Management, Technology and Global Delivery. Support objective for Custody services to be viewed as thought leaders in the industry (clients, peers) and gather industry intelligence to develop the product roadmap ( includes participating in industry forums, working groups etc.) Responsible for ensuring appropriate governance, compliance with policies/frameworks and oversight of issues, risks, audit and compliance items Present to senior management as requested and lead delivery of initiatives as required. Skills Asset Servicing product and operational background or experience Subject matter knowledge across Asset Servicing (Corporate Actions, Income, Tax and Corporate Governance) Strong analytical skills Prior experience of successfully delivering change in a complex environment whilst managing competing environments, and delivering projects using Agile and Waterfall techniques Proven change agent with track record of delivery Integration and understanding of impact on Data Management Track record of engagement with complex clients, solutioning operating models and translating requirements into feature function capability for State Street Custody platform Familiarity with industry integration tools and their applicability in shortening the chain of custody across the investment lifecycle Strong stakeholder management skills with an ability to navigate organisation through the solution delivery cycle Experience Seasoned MD with 10+ years experience in Securities Services Worked in Product organisations in prior roles Operated at a global level Prior experience working in Operations and/or technology Consultative experience working with institutional investors Strong team leadership and management skills Track record of solving data integration challenges across complex and at scale services Outcomes expected from the roles In depth understanding of asset servicing product and related data management; Proactive input and idea generation for product development roadmap Maintain up to date understanding of regulatory headwinds and other industry disruptors and industry bodies that could impact the area Responsible for issue and risk escalation Project /initiative ownership as requested, with appropriate reporting (with PMO) of prioritised and approved change Appropriate governance and audit trail on documentation of all key decisions and actions. Split of role: Product Design & Development : 40% Business Analysis : 40% Market / Client interaction : 20% About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement