Private Credit Product Solutioning Manager, Managing Director

State Street • Boston, MA

4d

About The Position

Managing Director, Private Credit Product Solutioning Manager Location: Boston or NYC preferable; other State Street locations to be considered Across the globe, institutional investors rely on State Street to help them manage risk, respond to challenges through solutions, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged professionals are essential to our success. Our commitment to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Position Overview Private Credit has been the fastest growing sub-segment of the Private Markets industry over the past several years. This is expected to continue as more firms see direct/private lending as a way to create portfolio yields that are uncorrelated to public markets; as traditional lending banks continue to face capital constraints and overheads; and as insurance companies seek structured loans and yields to feed their annuity businesses. In addition to direct lending, the definition of Private Credit continues to expand to other areas such Real Estate, Infrastructure and other areas of Asset Based Financing. Private Credit as an asset class also lends itself to multiple jurisdictions and various structures, including traditional closed ended funds, private hybrid funds, SMAs and registered semi-liquid fund structures such BDC’s, Interval Funds, ELTIF’s, etc which will result in broader distribution of these products into wealth channels, and thus more growth. This Managing Director position will report to the SVP Global Head of Private Credit Product in State Street’s institutional services division. The position will also collaborate closely with operating teams providing fund administration, loan services, custody, transfer agency, trustee services and analytics to credit managers. Additionally the position will collaborate with State Street’s global markets credit lending and finance team to combine on client value chain strategies across asset servicing and credit finance. The Private Credit Product Solutioning Manager role will have responsibility for contributing to the evolution and evangelism of our go-to-market strategy for asset servicing capabilities superior to global competitors in all major regions, and will have a key role in the firm’s ability to capture the above-mentioned growth levels.

Requirements

• Bachelor’s degree required (Finance, Business or Accounting preferred)
• 10+ years experience desirable
• Depth of experience in Private Credit required; either from asset servicing, or directly from within Private Credit and Fund employers
• Demonstrable experience managing and growing a commercial revenue line
• Strong Private Credit network, preferably globally
• Outstanding Leadership skills

Responsibilities

• Client solutioning and driving a differentiated Private Credit offering are the main responsibilities of this role, however, participation in the product development and management of the private credit end to end platform will also be part of this remit.
• You will collaborate closely with commercial teams and operating teams to drive superior outcomes for State Street and our global private equity clients.
• Provide subject matter expertise - strong background in the private markets space for the Private Credit asset class and have a solid understanding of the end-to-end Private Credit strategic operating model and technology stack.
• Ability to develop solutions that can be deployed for complex clients
• Drive solutions - lead and partner with teams across our global organization to define and solution critical deals and to ensure that the relevant subject matter experts are consulted, and that critical design assumptions and strategic options are thoroughly explored
• Maintain a relationship with top clients and continuously build a referenceable client lists helping to identify co-development partners to expand our market share
• Represent State Street at industry events/conferences and hold internal/external product office hours
• Research & Market Analysis - Ensure key competitor intelligence is updated continuously, and emerging industry trends are captured where relevant
• Partner with the business development and relationship management organizations to develop a robust pipeline.
• Provide guidance and direction to the team to drive business development, including providing support in Request for Information / Proposals, ensuring quality responses and negotiating/approving client and/or vendor commercial arrangements for the product team
• Monitor, Defend and Grow State Street’s overall Private Credit P&L
• Provide any required Post-sales interaction and guidance to support the smooth implementation of the proposed solution

Benefits

• Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.
• For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Number of Employees: 5,001-10,000 employees