Portfolio Services - Strategic Client (Global Middle Office), Managing Director

Who we are looking for:

Experienced financial services leader with functional expertise in Middle Office, Fund Accounting and Custody.  Highly skilled client communicator with the ability to navigate across functional towers and organizations to drive and deliver to client outcomes.

Why this role is important to us:

The Portfolio Services MD will be responsible for ensuring State Street delivers service excellence through a consistent Global Middle Office Service offering that unifies all aspects of service and delivery through common goals, oversight, and consistent client experience across all regions.  This will be for a specific client or segment of clients.

What you will be responsible for:

Scope

• Strategic Client[s], including direct client interaction with senior executives and portfolio managers, specific focus on same day cash forecasting

• Management of large direct & in-direct (matrix) organizations across multiple locations Hubs and Mid-Cost locations – termed ‘Operating Centres’

• Daily accuracy of the IBOR ensuring integrity of positions and cash as presented to the client

Leadership

• Drive delivery of goals and expectations to ensure consistent service delivery with key metrics to measure progress and celebrate success

• Lead by example in demonstrating behaviours of a high performing culture in which people operate to deliver client outcomes, with a One State Street mindset.

• Effectively manage staff on both direct and virtual teams across Operating Centres by driving the mission of the Global Middle Office; create opportunities for emerging talent to move into stretch assignments; proactive succession and development planning

• Provide subject matter expertise to the team and to the client on the investment book of record

• Senior management, legal entity boards, second and third lines of defence are informed of all relevant operational and service issues, risks, and risk events in a timely manner

Deliver Service and Operational Excellence

• Ensures Middle Office activities are performed, and services are delivered to clients in accordance with all contractual and client agreements ensuring a seamless, integrated, consistent operating model across the jurisdiction and operating centres

• Drives accountability for exacting standards of accuracy and timeliness, delivering services in an efficient and controlled manner with a continuous improvement mindset

• Ensures operating policies, procedures, metrics and controls are documented, adhered to and are compliant with relevant controls and regulatory requirements

• Acts as escalation point for Client and operating centres and drives improvements from these insights

• Proactively manage and reduce operational risk exposure by ensuring robust control environment, escalation protocols and responsiveness culture

• Accountable for Client relationships ensuring they are developed and managed on a professional basis, operational service reviews are conducted on a regular basis, actions are documented and completed, and client satisfaction is reflected in NPS scores

• Ensure Middle Office are appropriately represented, prepare for and actively participate at audit, regulator and client meetings, presentations and due diligence reviews

Optimize Operating Model and Expense Management

• Manage expenses across all Profit and Loss levers including but not limited to Workforce Planning, Productivity and Simplification targets. Contributing to the continuous improvement of the operating model by delivering on key initiatives in partnership with key stakeholders

• Leverage client knowledge, scale, technology solutions, mutual geographic footprint and time zones to craft the most efficient, resilient and effective end-to-end service model

• Engagement with technology and vendors on the functional specification, testing and successful on-time delivery of new applications and/or software upgrades

• Thorough review of new business and service requests including operating model design, resource and technology requirements and risk assessment

Commercial Excellence

• Partner with peers and business unit leads with Front and Back Office to establish our “house advantage” across solutions

• Proactively measure costs by client to ensure resources / expenses are matched by the activity type

Education & Preferred Qualifications:

• 15 years + experience in financial services, presently in a leadership role managing large Investment Management operations.

• Functional experience within Middle Office with a focus on client interactions, including time sensitive situations related to cash funding

• Preferred candidate will have additional experience across Fund Accounting and Custody

• Preferred candidate will have expertise working in different global locations

• Preferred candidate will have knowledge of and desire to drive Artificial Intelligence initiatives, use of desktop automations and use of large language models [LLMs]

• Work successfully in a matrixed environment. Effectively manage multiple stakeholders, determine highest priorities for the organization, identify and resolve contention between directives.

• Proven leadership skills as well as managing and developing a high performing delivery team

• Proven track record of achieving/exceeding financial goals through expense discipline and headcount management.

• Experience with change management programs in sponsorship, leadership roles. Demonstrated ability to execute under challenging circumstances and deliver targeted outcomes.

• Willingness for business travel where required.

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