Prime Services Operations Lead - Vice President

State Street•Boston, MA

11d•$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 ensures accurate trade processing, appropriate collateralization, asset servicing, risk mitigation, and regulatory compliance while leading a global team and driving strategic operational improvements. It partners with business stakeholders to improve processes and systems for efficiency, scalability, and risk management, aligning operational solutions with State Street’s business objectives, industry practices, and evolving market needs. The role provides governance and oversight of regional teams, operating models, and controls; translates senior stakeholder priorities into execution plans; tracks performance indicators; and is accountable for operational hub performance, efficiency, and risk. It also prepares executive reporting and supports operational readiness for new products, technology transformations, and regulatory changes. The position leads transaction and collateral operations, risk and control activities, regulatory compliance, stakeholder engagement, team development, and process improvement initiatives. The work takes place in a fast-paced environment involving frequent interaction with trading desks, client management, counterparties, and global custody teams, with time-sensitive operations aligned to market hours.

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 strategy 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 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 trade lifecycle events, including cash dividends, mandatory and voluntary corporate actions, and monthly billing processes.
Initiate and support client borrower-side financing and collateralization waterfalls, as well as 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 strong internal controls and adherence to audit requirements.
Investigate and resolve internal and external cash/share breaks, fails, and counterparty discrepancies.
Provide solutions and KRIs to reduce or eliminate risk to Prime Services, State Street, and clients.
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.
Maintain current knowledge of regulatory and market changes.
Partner with Front Office, Risk, Treasury, Finance, and Technology teams to understand requirements and deliver solutions that support growth and mitigate risk.
Act as an escalation point for operational issues, working with teams to resolve issues or remove roadblocks and maintain management transparency.
Maintain relationships with counterparties, custodians, and clearing agents.
Manage relationships with external vendors and technology partners, ensuring optimal performance and value from third-party platforms and services.
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 advance operational efficiency, trading profitability, risk reduction, and client experience.
Participate in system implementations and strategic transformation programs.
Enhance the scalability and efficiency of operations.
Partner with business leaders, risk, compliance, and technology teams to understand requirements and deliver solutions supporting business growth and risk mitigation.

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 leave for 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.