Prime Services Operations Lead - Vice President

State Street•Boston, MA

10d

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, collateralization, asset servicing, risk mitigation, and regulatory compliance. It leads a global team and drives strategic improvements in processes and systems to increase efficiency, scalability, and risk management, while aligning operational solutions with State Street’s business objectives, industry practices, and evolving market needs. The position provides governance and oversight of regional teams, controls, and operating models; translates senior stakeholders’ priorities into execution plans; tracks key risk and performance indicators; and owns operational hub performance, efficiency, and risk. It also prepares operations for new products, technology transformations, and regulatory changes, and provides executive-level reporting on operational health, risks, trends, resources, and improvement initiatives. The role oversees transaction processing across markets, collateral and margin processes, risk and control activities, regulatory compliance and audits, stakeholder and vendor relationships, team development, and operational improvement projects. It partners with Front Office, Risk, Treasury, Finance, Technology, global custody teams, counterparties, custodians, and clearing agents to resolve issues and deliver solutions that support business growth and risk mitigation. 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

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

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 KRIs, KPIs, and performance against business objectives and strategic priorities.
Own operational hub performance, efficiency, and risk.
Drive operational preparedness 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 transactions across markets, including borrowing and lending, 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, mandatory and voluntary corporate actions, and 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.
Help optimize collateral usage across funding, risk, and trading desks, and monitor intraday and end-of-day collateral sufficiency.
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/share breaks, fails, and counterparty discrepancies; develop viable solutions and KRIs to reduce or eliminate risk.
Ensure Prime Services operational processes comply with relevant regulations, internal policies, and industry standards; support reporting requirements and regulatory audits.
Participate in and track internal and external audits, ensuring deliverables and action items are completed on time, and maintain awareness of regulatory and market changes.
Partner with Front Office, Risk, Treasury, Finance, and Technology to understand requirements and deliver solutions that support business growth and risk mitigation.
Act as an escalation point for operational issues, coordinate resolution and removal of roadblocks, and ensure management transparency.
Maintain relationships with counterparties, custodians, and clearing agents; manage external vendor and technology partner relationships and performance.
Manage and mentor operations staff and AVPs; drive performance, training, and development, and promote accountability and continuous improvement.
Identify emerging technologies and process improvements that support operational efficiency, trading profitability, risk reduction, and improved client experience.
Participate in system implementations and strategic transformation programs, and enhance operational scalability and efficiency.

Benefits

401(k) retirement savings plan 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 leave for family care responsibilities.
Access to an Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based awards, subject to stated exclusions and sales incentive plans for certain sales roles.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.