Who we are looking forThe AVP, Client Service and Operations Support for the Managed Account Servicing business will help grow and lead the outsourced servicing capabilities aimed at institutional asset and wealth managers who provide managed accounts to affluent individuals and family trusts. State Street is a leading global asset servicer and has a dominant market share in the institutional investment operations outsourcing ("middle office") business. This role represents an opportunity to support a nascent operation and help improve efficiency to enable scale for further growth. Providing managed account servicing will allow the Managed Account Services Group to more fully support institutional clients with wealth management operations, as well as wealth managers themselves, a segment which is strategically important to State Street Wealth Services and Alpha's growth plans. Given that managed accounts are a predominantly US offering, this business will focus primarily on the US market.
What you will be responsible forAs AVP, Client Service and Operations Support:
- Daily SMA operational tasks supporting multiple clients. Examples include:
- Daily / weekly recons
- New account/sponsor set up
- Gather requirements for reporting
- Set up accounts in various accounting systems
- Entry of transactions, creation of sponsor formatted files, and execution of review controls
- Monthly performance activities. Examples include:
- Checking for erroneous accounting data (missing prices, inaccurate dividends, failed transactions, etc.)
- Reconciliation to second source performance calculation
- Research and resolution of non-routine and complex issues related to monthly performance
- Development and execution of test plans for client upgrades and strategic enhancements to performance functionality
- Adoption of AI to help support growth and scale
- Procedure development and maintenance
- Assist with Implementation of CRIMS for compliance
- Requirements definition, testing, workflow, solution design for existing clients, new clients, and multi-tenant strategic Wealth platform
- Managing and own tasks for multiple project plans
What we value The candidate will be a hands-on business-builder possessing:
- Strong background in an asset servicing business, ideally with wealth management / managed accounts experience, or experience within a wealth or asset management firm providing managed account solutions
- Proven track record defining business requirements related to system integration, workflow design, and overall business process definition
- Charles River IMS or securities trading software experience is preferred.
- Proven institutional investment operations depth with subject matter expertise in one or more of the following core areas: transaction management, reconciliations, corporate actions, performance measurement and attribution, derivatives, bank loans and collateral management
- Strong interpersonal and communications skills, able to interact at all levels of the organization
- High ability to collaborate with others in a matrixed organization
- Experience with SQL, MS SQL Server
Salary Range: $80,000 - $140,000 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.
Employees are eligible to participate in State Street's comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
