The Finance division is home to crew and leaders who drive sustainable value across the global enterprise. Our high caliber professionals serve as trusted and influential strategic partners to business leaders across the organization in the areas of financial modeling, fiscal responsibility, product development and administration, risks and controls, real estate and facilities management, and enterprise supply management. Fund Financial Services, situated within the Finance Division, performs Vanguard’s middle and back office investment processes, managing post-trade work and key financial reporting.
Our strong focus on value creation across the enterprise is equaled by our unwavering commitment to creating a culture and environment that maximizes the impact and potential of crew, and develops future generations of leaders in the organization.
Vanguard’s Finance division is a talent destination for exceptional financial professionals looking to be part of a best-in-class organization that is one of Vanguard’s most trusted voices. Fund Financial Services is currently seeking a Senior Manager of Global Bank Strategy & Relations.
This individual will act as primary owner of overall bank relationships at Vanguard by leading a team that actively and strategically manages the relationships with Vanguard’s global bank service partners. To reducerisks, lower costs, improve efficiencies and client service levels, and identify new or stronger solutions for businesses units across Vanguard. This includes managing executive relationships with global banks, negotiating newcontract terms and prices, measuring and monitoring bank performance in their support of critical operations at Vanguard, presenting on behalf of Vanguard to external, executivebanking counterparts, and ensuring appropriateutilizationof bank services by maximizing the banks’ areas of expertise.
Primary duties and responsibilities:
- Manages global staff. Provides guidance, training and motivation as necessary to develop staff. Hires, evaluates and counsels personnel. Develops great talent for Vanguard. Partners with local leaders in London and Melbourne to matrix manage crew outside of the U.S.
- Serves as liaison between banks and Vanguard globally. Sets overall servicing expectations and shapes bank service structure for Vanguard; supports and utilizes key reporting measures seeking enterprise-wide feedback from internal clients and identifies and manages action plans that address service issues and target improvement of overall service levels; engages internal clients in process to ensure participation in process.
- Manages significant fund-direct and corporate spend between Vanguard and bank service providers. Frequently negotiates global contract terms and fee structures in alignment with Vanguard’s key priorities, managing risk factors in the industry, and with context of the broader bank relationship in mind. Decides who and how new initiatives and product development will be supported from a banking standpoint.
- Independently interacts with, presents to, and negotiates with global, external, Executive-level representatives from significant global financial institutions. Is responsible for representing Vanguard and our interests in these executive settings around the globe.
- Provides consultative support on banks’ capabilities and industry perspective. Works with internal clients to identify, evaluate, and select bank partners for new Vanguard products and or new needs. Engage banks to provide insight on industry topics supporting groups like Corporate Strategy, Technology, and Product Development along with the respective business units.
- Supports key reporting (dashboard) functionality, monitors and measures critical functions as either performed or monitored by team; ensures risk measures are in place. Leads communication center for any contingency/disaster recovery scenarios. Manages and organizes communication between Vanguard and banks in the event of implementation of contingency measures.
- Mitigates fraud at bank account level by understanding and implementing latest techniques to protect against fraud. Oversees Vanguard’s global bank accounts and maintains board-delegated authorities for global fund and corporate accounts.
- Participates in industry forums, including both attending and participating in various industry conferences (i.e. ICI, NACHA, AFP, NEMA).
- Develops and implements strategic and operational plans to achieve departmental and corporate objectives. Oversees planning, development and execution of short and long range goals. Demonstrates initiative and creativity in independently recommending and implementing solutions to departmental management teams and senior staff. Analyzes costs impacting decisions and other related issues and develops cost effective solutions to issues.
- Demonstrates initiative and creativity in developing strategic objectives and short and long range goals for Vanguard. Works with senior management in the planning and execution of operational plans to achieve departmental, divisional and corporate objectives. Accepts overall responsibility for the team’s progress and measures success in meeting departmental objectives. Ensures operational efficiency and effectiveness within the unit. Sets measurable goals and examines ways to raise standards, to increase quality and to improve overall performance of the unit.
- Champions Vanguard Unmatchable Excellence efforts with an emphasis on minimizing business risk. Validates trends and establishes ownership for corrective action. Promotes relationship management and pro-actively fosters effective communication. Anticipates clients’ needs and ensures client satisfaction related to the services being provided.
- Participates in special projects and performs other duties to advance the organization.
The ideal candidate should possess:
- Undergraduatedegreerequired. Advanced degree or certification preferred.
- Executive presence, poise, negotiation, communication, and networking experience essential.
- Minimum of eight years of broad bankingexperience in progressively more responsible roles, including five or more years of direct management experience or equivalent.
- Broad knowledge of investment marketplace, including custody, cash management, treasury services, credit, securities lending, corporate finance, offshore funds, transfer agency.
- Ability to oversee/lead high profile business initiatives; excellent judgment and ability to analyze and respond to issues.
- Demonstrated ability to learn new concepts quickly while providing leadership to teams completing multiple and diverse assignments global business development.
- Proven ability to develop and broadly implement new business strategies.
- Excellent leadership, interpersonal and motivation skills. Must be adept at relationship management.
- Excellent written and verbal communication skills, with track record of executive level communications.
- Demonstrated commitment to enhancing financial services business and industry knowledge.
- Position has 4 local direct reports and is functionally responsible for matrix-managing individuals globally.
- Individual will oversee 8 banks that provide fund and corporate services representing more than $200M in spend to Vanguard globally.
- Requires the ability to travel approximately 15% of the time, both domestically and globally