Margin Operations, Assistant Vice President (Wealth Custody and Clearing)

State Street • Boston, MA

1d • $65,000 - $113,750

About The Position

State Street’s Wealth Custody & Clearing team is seeking an Assistant Vice President for Trading & Asset Servicing to help build, implement, operate, and continually enhance its margin operations capability. This builder-operator role translates the established margin framework into scalable procedures, controls, reporting, escalation protocols, and daily practices across an introducing broker-dealer platform. The role owns key daily margin activities while helping develop the capability as client adoption, product scope, technology, and risk-management needs evolve.

Working closely with the Vice President of Trading & Asset Servicing and the Head of Operations, the Assistant Vice President will help define and execute the future vision for margin operations. The role partners with State Street teams across Risk, Compliance, Product, Technology, Client Support, Account Onboarding, and Operations, as well as with the clearing firm. It supports delivery of account and position data to Risk, interpretation of stress-testing and exposure outputs, and operational oversight, escalation, and risk-management action. Additional work includes broader brokerage operations across trading, corporate actions, short-selling workflows, and the trade lifecycle.

This position supports the growth and evolution of the margin lending program and strengthens the first line of defense by connecting account-level margin oversight, clearing-firm activity, State Street risk analysis, and timely operational action. The successful candidate will have practical knowledge of Regulation T and brokerage margin principles, hands-on experience with time-sensitive margin activity, and the judgment to identify and escalate emerging risks. Familiarity with Regulation SHO and short-selling operations is important; Portfolio Margin and risk-based margin knowledge are strongly preferred.

The role requires an undergraduate degree or equivalent relevant experience and 5+ years of relevant experience, though candidates with highly relevant hands-on margin experience may be considered with a different overall experience profile. The salary range is $65,000–$113,750 annually, subject to location. State Street employees are eligible for a comprehensive benefits program.

Requirements

• Undergraduate degree or equivalent relevant experience.
• 5+ years of relevant experience in margin, broker-dealer, clearing, custody, trading, or financial-services operations; candidates with highly relevant hands-on margin experience may be considered with a different overall experience profile.
• Demonstrated experience administering or overseeing margin calls, account restrictions, extensions, concentrations, liquidations, or related operational controls.
• Strong hands-on experience in margin, broker-dealer, clearing, or custody operations, with practical knowledge of brokerage account activity and margin risk.
• Ability to build or materially improve an operating capability by converting requirements into procedures, controls, reporting, workflows, and escalation standards.
• Strong understanding of Regulation T, FINRA Rule 4210, initial and maintenance margin concepts, buying power, house requirements, concentrated positions, margin calls, restrictions, and liquidation mechanics.
• Working knowledge of Regulation SHO and short-selling requirements, including related controls, exceptions, operational processes, and escalation.
• Experience interpreting account-level exposure information, stress-testing results, concentration analysis, or other risk outputs and translating them into operational action and escalation.
• Sound judgment in time-sensitive and risk-sensitive situations, distinguishing routine activity from developing credit, market, operational, or client risk.
• Ability to lead through influence and coordinate across Operations, Risk, Compliance, Product, Technology, Client Support, Account Onboarding, advisors, clients, and external providers.
• Working knowledge of broader brokerage operations, including trading, corporate actions, trade lifecycle processes, and multi-asset-class activity.
• Comfort working in a growth environment where processes, controls, technology, and team capabilities will continue to evolve.
• Experience with operational reporting, reconciliations, control evidence, internal and external audit requests, and regulatory review requirements.
• Experience with clearing, workflow, and servicing platforms.
• Series 7 and Series 57 preferred or willingness to obtain, based on final responsibilities.

Nice To Haves

• Knowledge of Portfolio Margin frameworks and risk-based margin methodologies; direct operational experience supporting Portfolio Margin is a significant plus.
• Familiarity with introducing broker-dealer models and clearing-firm relationships; Apex experience preferred.
• Experience in an introducing broker-dealer, RIA custody, or fully disclosed clearing model.
• Series 4, Series 24, and/or Series 53.
• Experience with Apex Ascend, comparable clearing or margin platforms, Salesforce, and data-driven risk or reporting tools.

Responsibilities

• Help design, implement, and continuously enhance the margin operating model, translating regulatory, risk, contractual, and business requirements into procedures, controls, workflows, reporting, escalation paths, and management routines.
• Own and execute operational activities supporting the margin lending program, including account eligibility, documentation, margin calls, maintenance deficiencies, extensions, restrictions, exceptions, and ongoing account activity.
• Review margin reports and account-level activity, including calls, debit balances, maintenance excess or deficiency, buying power, concentrated positions, restrictions, repeated violations, and elevated or emerging exposures.
• Apply Regulation T, FINRA Rule 4210, applicable SEC requirements, firm policies, and clearing-firm requirements when evaluating margin activity, restrictions, exceptions, and escalations.
• Coordinate timely resolution of calls, deficiencies, extensions, restrictions, and other exceptions with clients, advisors, Apex, Client Support, Risk, and other internal stakeholders.
• Monitor concentrated and higher-risk positions and support the administration, escalation, and implementation of house margin requirements or other risk-based restrictions.
• Identify and escalate accounts approaching or entering negative equity; coordinate restrictions, liquidation activity, client or advisor outreach, recovery actions, documentation, and management escalation.
• Support delivery and validation of account, position, collateral, and related data used for stress testing and exposure analysis; review Risk outputs and incorporate established standards and findings into operational oversight and action.
• Serve as a key operational liaison with Apex for margin calls, restrictions, liquidations, exceptions, reporting, reconciliations, and account-level issue resolution.
• Maintain margin-related controls, reconciliations, recordkeeping, exception documentation, management information, and evidence for supervisory review, audit, risk oversight, and regulatory examination.
• Design, establish, and maintain margin-related key risk indicators, thresholds, and escalation triggers to support compliance, management oversight, and proactive identification of emerging risks.
• Work with the Vice President of Asset Servicing and Head of Operations to shape and execute the team’s longer-term vision, including staffing, processes, controls, technology, automation, data, and future product capabilities.
• Support broader brokerage activity, including trading, corporate actions, trade lifecycle processes, short-selling-related workflows, and other time-sensitive work; contribute to scalable automation, AI-enabled workflows, and integrated platform capabilities.

Benefits

• Retirement savings plan (401K) with company match.
• Basic life, medical, dental, vision, long-term disability, and other optional insurance coverage.
• Paid time off, including vacation, sick leave, short-term disability, and family-care responsibilities.
• Access to an Employee Assistance Program.
• Incentive compensation, including eligibility for annual performance-based awards, with certain sales-role exceptions.
• Eligibility for certain tax-advantaged savings plans.
• Inclusive development opportunities, flexible work-life support, paid volunteer days, and employee networks.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior