Prime Services Operations Lead - Vice President

State Street•Boston, MA

11d•$110,000 - $181,250

About The Position

The Prime Services Operations Lead is a Vice President-level leadership role overseeing operational support for Prime Services borrowing and lending activities. Responsibilities span trade processing and settlement, collateral management, reconciliation, billing, and corporate action event processing. The role is accountable for accurate processing, appropriate collateralization, asset servicing, risk mitigation, regulatory compliance, and the performance of global operational teams. It works closely with business partners to improve processes and systems, enhance efficiency and scalability, and align operational solutions with State Street’s business objectives, industry practices, and market needs. The role provides governance and oversight of regional team functions, controls, and operating models; translates senior stakeholders’ strategies into execution plans; monitors performance indicators against business objectives; and reports operational health, risks, trends, resource needs, and improvement initiatives to senior leaders. It also drives operational readiness for new products, technology transformations, and regulatory changes. The position oversees Prime Services transaction processing, collateralization and margin activity, reconciliations, billing, and corporate actions. It identifies and mitigates operational and settlement risks, maintains controls and audit readiness, supports regulatory compliance, and serves as an escalation point for operational issues. The role partners with Front Office, Risk, Treasury, Finance, Technology, counterparties, custodians, clearing agents, vendors, and technology partners. It also manages and develops operations staff and AVPs, promotes accountability and continuous improvement, and participates in implementations and strategic transformation programs. The typical work environment is fast-paced, with frequent interaction with trading desks, client management, counterparties, and global custody teams. Operations are time-sensitive and aligned with market hours. The annual salary range is $110,000–$181,250 for the primary location; the range may differ for other locations.

Requirements

8–10+ years of experience in financial services operations, with a focus 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.

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 business priorities and strategies from senior stakeholders into clear execution plans across teams and hubs, documenting material issues and risks.
Track KRI/KPI 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, 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 trade lifecycle events, including cash dividends and mandatory and voluntary corporate actions, as well as monthly billing processes.
Initiate and support client/borrower financing and collateralization waterfalls and lending-agent bilateral and triparty collateralization processes.
Manage initial collateral, collateral returns, margin calls, and collateral disputes; assist in optimizing collateral usage across funding, risk, and trading desks.
Monitor intraday and end-of-day collateral sufficiency.
Identify and mitigate operational, settlement, counterparty, and corporate event risks; maintain internal controls and audit adherence.
Investigate and resolve internal and external cash/share breaks, fails, and counterparty discrepancies; develop solutions and KRIs to reduce or eliminate risk.
Ensure operational processes comply with 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; 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 maintain management transparency.
Maintain relationships with counterparties, custodians, and clearing agents; manage external vendor and technology partner relationships.
Manage and mentor operations staff and AVPs, drive performance, training, and development, and promote accountability and continuous improvement.
Identify technologies and process improvements to improve efficiency, trading profitability, risk reduction, and client experience.
Participate in system implementations and strategic transformation programs and enhance operational scalability and efficiency.

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 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.