Global Head of Bank Strategy Implementation and Fund Treasury

Vanguard•Malvern, PA

1d•Hybrid

About The Position

The Global Head of Bank Strategy Implementation and Fund Treasury will lead multiple connected functions that together govern how more than $12 trillion of investor assets are serviced, financed, and protected at the fund level. At its core, this is the role that decides how Vanguard partners with the external financial system. The leader owns the firm’s relationships with its outsourced fund-service providers — custody, accounting, administration, transfer agency, and securities lending — sets the strategy for which institutions Vanguard works with and on what terms (as well as corporate banking activities), and directs a multi-year program to diversify custody and administration concentration risk across multiple providers. They also lead the Fund Treasury function responsible for daily money movement, line-of-credit facilities, fund-direct borrowing, bank counterparty stability, and reporting to the Vanguard mutual fund boards. This is the seat that decides who Vanguard banks with, on what terms, and how the operating model that supports one of the world’s largest asset managers evolves over the next five years. The role spans three integrated pillars and a leadership team. Bank Strategy & Relations Own the end-to-end relationship with Vanguard’s primary asset-servicing providers across custody, fund accounting, fund administration, transfer agency, and securities lending as well as corporate banking relationships. Set provider strategy, contract economics, service-level frameworks, and escalation governance; serve as the senior point of accountability for provider performance to the fund boards and to senior leadership. Lead the Business Program Management function that translates provider strategy into operational execution — onboarding, transitions, change management, and recurring oversight cycles. Prepare and present recurring reporting to the Vanguard mutual fund boards on provider performance, counterparty risk, and custody matters. Multi-Year Global Implementation Program (Blue Alpha) Lead Vanguard’s multi-year program to evolve from concentrated fund service arrangements to a diversified multi-provider model that reduces risk and strengthens negotiating leverage. Own the global implementation strategy during transition in both the U.S. and International regions. Partner with various stakeholders during the program such as Investment Management, Enterprise Risk, Legal, and Fund CFO Office on contract negotiation and transition planning and execution over the next 2-3 years. Fund treasury Lead the Fund Treasury function responsible for the funds’ daily cash movement, line-of-credit facilities, fund-direct borrowing arrangements, and short-term liquidity management. Monitor bank-counterparty stability across the providers that support the fund complex, and surface issues early to the CFO of U.S. Mutual Funds and to the boards.

Requirements

Minimum of twelve years related work experience, with at least eight years of Treasury or Cash Management experience.
Undergraduate degree or equivalent combination of training and experience.
Direct, functional ownership of bank, custody, and counterparty strategy: you have decided which institutions a firm partners with, negotiated the terms of those relationships, and made the calls on counterparty selection and deal structure.
Experience governing and negotiating an external provider and banking network at the most senior level — setting direction rather than administering arrangements others have shaped.
A track record of leading large-scale transformation in service of strategy — for example, diversifying bank relationships on a global stage or leading provider change management — where your role was to set the direction, not simply run the program.
Deep command of the asset-servicing landscape across custody, fund accounting, fund administration, transfer agency, and securities lending.
Working fluency in fund treasury: critical daily cash movement operations, line-of-credit facilities, fund-direct borrowing, short-term liquidity management, and bank-counterparty risk monitoring.
Proven ability to engage senior executives — owning accountability for provider performance and surfacing risk early, clearly, and with judgment.

Nice To Haves

Supervisory experience preferred.
Accounting or Finance degree preferred.
Graduate degree preferred.
CPA, CTP, or other financial designation preferred.

Responsibilities

Own the end-to-end relationship with Vanguard’s primary asset-servicing providers across custody, fund accounting, fund administration, transfer agency, and securities lending as well as corporate banking relationships.
Set provider strategy, contract economics, service-level frameworks, and escalation governance; serve as the senior point of accountability for provider performance to the fund boards and to senior leadership.
Lead the Business Program Management function that translates provider strategy into operational execution — onboarding, transitions, change management, and recurring oversight cycles.
Prepare and present recurring reporting to the Vanguard mutual fund boards on provider performance, counterparty risk, and custody matters.
Lead Vanguard’s multi-year program to evolve from concentrated fund service arrangements to a diversified multi-provider model that reduces risk and strengthens negotiating leverage.
Own the global implementation strategy during transition in both the U.S. and International regions.
Partner with various stakeholders during the program such as Investment Management, Enterprise Risk, Legal, and Fund CFO Office on contract negotiation and transition planning and execution over the next 2-3 years.
Lead the Fund Treasury function responsible for the funds’ daily cash movement, line-of-credit facilities, fund-direct borrowing arrangements, and short-term liquidity management.
Monitor bank-counterparty stability across the providers that support the fund complex, and surface issues early to the CFO of U.S. Mutual Funds and to the boards.