Prime Services Operations Lead - Vice President

State Street•Boston, MA

10d•$110,000 - $181,250

About The Position

The Prime Services Operations Lead, Vice President, oversees operational support for Prime Services borrowing and lending activities, including settlement, collateral management, reconciliation, billing, and corporate action processing. The role is accountable for accurate trade processing, appropriate collateralization, asset servicing, risk mitigation, and regulatory compliance. It leads a global team and drives strategic improvements, collaborating with business partners to enhance operational efficiency, scalability, and risk management in alignment with State Street’s business objectives, industry practices, and market needs. The role provides governance and oversight of regional teams, controls, and operating models; translates senior stakeholders’ priorities into execution plans; monitors key risk and performance indicators; and is accountable for operational hub performance. It also prepares operations for new products, technology transformations, and regulatory changes, and reports operational health, risks, trends, resource needs, and improvement initiatives to senior leaders. The position manages transaction processing and lifecycle events, collateral processes and monitoring, operational risk and controls, regulatory compliance and audit activity, stakeholder and vendor relationships, team development, and process-improvement and transformation initiatives. The work takes place in a fast-paced environment with frequent interaction with trading desks, client management, counterparties, and global custody teams. Operations are time-sensitive and aligned with market hours.

Requirements

8–10+ years of experience in financial services operations, focused on Prime Services and principal trading.
Strong understanding of Prime Services products and processes, including trade lifecycle management, settlement, collateral, corporate actions, and vendors.
Strong leadership and team-management skills.
Strong analytical and problem-solving abilities.
Attention to detail and risk awareness.
Excellent communication and stakeholder-management skills.
Process-improvement and project-management skills.

Nice To Haves

Bachelor’s degree in Finance, Economics, Business, or a related field is preferred.

Responsibilities

Provide governance and oversight of regional team functions, controls, and operating models.
Translate senior stakeholders’ business priorities and strategy into execution plans across teams and hubs, documenting material issues and risks.
Track key risk indicators, key performance indicators, and performance against business objectives and strategic priorities.
Own operational hub performance, efficiency, and risk.
Prepare operations for new products, technology transformations, and regulatory changes.
Provide executive-level reporting on operational health, risks, trends, resource requirements, and improvement initiatives.
Oversee daily processing of Prime Services borrowing and lending transactions, collateralization and margin calls, triparty transactions, cash movements and wires, billing, and corporate actions.
Ensure timely and accurate trade capture, confirmation, settlement, and reconciliation; partner with global custody teams on trade statuses and adjustments.
Manage lifecycle events such as cash dividends and mandatory and voluntary corporate actions, along with monthly billing processes.
Initiate and support borrower-side financing and collateralization waterfalls and lending-agent-side bilateral and triparty collateralization processes.
Manage initial collateral, collateral returns, margin calls, and collateral disputes; optimize collateral usage across funding, risk, and trading desks.
Monitor collateral sufficiency intraday and at end of day.
Identify and mitigate operational, settlement, counterparty, and corporate event risks; maintain internal controls and adherence to audit requirements.
Investigate and resolve internal and external cash and share breaks, fails, and counterparty discrepancies; develop solutions and key risk indicators to reduce risk.
Ensure operational processes comply with applicable regulations, internal policies, and industry standards; support reporting and regulatory audits.
Participate in and track internal and external audits, ensuring deliverables and action items are completed on time; stay current on regulatory and market changes.
Partner with Front Office, Risk, Treasury, Finance, and Technology teams to deliver solutions that support business growth and risk mitigation.
Serve as an escalation point for operational issues, coordinate resolution, remove roadblocks, and maintain management transparency.
Maintain relationships with counterparties, custodians, and clearing agents; manage external vendor and technology-partner relationships and platform performance.
Manage and mentor operations staff and AVPs; drive performance, training, and development, and promote accountability and continuous improvement.
Identify technologies and process improvements that enhance efficiency, trading profitability, risk reduction, and client experience.
Participate in system implementations and strategic transformation programs; improve operational scalability and efficiency.
Work with business leaders, Risk, Compliance, and Technology to understand requirements and deliver supporting solutions.

Benefits

Retirement savings plan (401K) with company match.
Insurance coverage including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
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 exclusions for 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.
Employee networks.