Broker/Dealer Margin Manager, Vice President

State Street•Jersey City, NJ

2d•$120,000 - $202,500

About The Position

Broker/Dealer Margin Manager, Vice President Who we are looking for An individual with 5+years securities industry experience working in equity and fixed income instruments within broker dealer margin department. Experience with operations application updates and projects related to trade processing middle office functions. Individual must have experience with risk controls and establishing procedures for new workflows and products. Ability to manage complex tasks and promote development of industry knowledge and skills. Ensuring trade processing operations groups daily responsibilities as they relate to Global Markets multi asset class activities are completed within deadlines, accurately, consistently and adheres to procedures to minimize risk. Provides guidance and direction to associated operational teams – ensures strategic projects are carried out, executes robust processing oversight and controls to minimize risks, implements new processes effectively to create operational efficiencies and delivers a high level of service. Why this role is important to us The team you will be joining is a part of State Street Markets (SSM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSM business unit. As our investment research and trading arm, SSM’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. 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. 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 Job Application Disclosure: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. 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

Requirements

Minimum 5+ years’ experience working in Margin
Ability to proactively identify, analyze and solve problems
Proven time management skills
Ability to manage under pressure, work under deadlines and deal with high volumes of work
Proven communication skills – written and verbal
Demonstrates an aptitude for learning and development – identifying & addressing departments needs
Ability to think creatively, solve problems, promote solutions
Proven industry systems and best practice knowledge
Very good understanding of financial market activities and transactions
Very strong problem solving, customer service, communication, and organizational skills

Nice To Haves

Bachelor’s degree or equivalent
Series 99, 24 or 27
Experience with operations application updates and projects related to trade processing middle office functions.
Individual must have experience with risk controls and establishing procedures for new workflows and products.

Responsibilities

Calculate and issue daily margin calls
Reconcile collateral and resolve fails/discrepancies
Lead margin operations team and enforce compliance
Provide reporting and analytics to internal/external stakeholders
Collaborate with Trading, Credit, Legal, and Compliance
Drive automation and improvement of margin workflows
Coordinate post trade management for institutional clients for both international equity and fixed income transaction products
Promotes, creates and implements policies and procedures.
Coordinate resolution of trade processing discrepancies with counterparties.
Manage break resolution with executing brokers
Manage correction of trading application static data to ensure the STP of street side trade matching and allocation.
Work with trading and settlements to correct trade records as needed to mitigate failed trades.
Reconcile daily activity within firm accounts
Reconcile daily currency balances in firm accounts
Contributes to Operations strategy and product development for the group
Interfaces with technology and product development to ensure future system changes/enhancements are fully tested and documented
Creating and analyzing new methods to proactively identify discrepancies in data
Serves as an expert resource on operational needs for the group
Interfaces with traders, Compliance, Operations and other areas within SSM to ensure efficient business flows and controls exist for the group
Escalation point for resolution of queries from external and internal groups for your department
Business continuity responsibility for the group – oversees offsite testing and updates to BCP plans and procedures
Participates in internal committees or industry groups to promote operational efficiencies and enhance knowledge
Leverages/promotes use of technology to achieve operational efficiencies, mitigate operational risks, and reduce operating costs
Works with management to ensure favorable audit ratings.

Benefits

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.

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