Client Service and Operations Support, AVP
About The Position
The 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. The team you will be joining plays an important role in the overall success of the organization. Across the globe, investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions that are straightforward and scalable. You will help us build resilience and execute day-to-day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for. The ideal candidate will have a mixture of Wealth, Performance Management, Project Management, Service and Operations, and financial systems implementation experience. They will be comfortable running complicated day-to-day operations and dealing with all the associated issues across State Street and Charles River Development.
Requirements
- 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
- 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
Nice To Haves
- Charles River IMS or securities trading software experience is preferred.
Responsibilities
- 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
Benefits
- 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)
- eligibility for certain tax advantaged savings plans
- inclusive development opportunities
- flexible work-life support
- paid volunteer days
- vibrant employee networks
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
