Product Management, VP

State Street • Quincy, MA

8h

About The Position

As Vice President, you will lead strategic sub custody relationships across global custody services, ensuring operational excellence, financial performance, and regulatory alignment. You will be responsible for managing a portfolio of key sub custodian banks, overseeing P&L Additionally, you will have strategic oversight as the SME on all aspects of sub custodain invoicing and reconciliation
Why this role is important to us
You will be joining the Institutional Services function that allows us to deliver a comprehensive, holistic approach to each client relationship — for asset managers and asset owners, insurance companies, and official institutions globally. It means our client-facing functions work together to bring the very best solutions and services the firm has to offer — across all of our locations, products, and capabilities.
Join us if making your mark on the long-lasting client relationships we build is a challenge you are up for.

Requirements

• Proven track record in managing billing processes and driving organizational satisfaction.
• Deep knowledge of State Street’s Out of Pocket (OOP) processes and demonstrated decision making for OOPs and expense processing
• Strong understanding of global markets, securities processing, and regulatory frameworks.
• Excellent communication, negotiation, and stakeholder management skills.
• 10+ years of experience in custody banking or institutional relationship management.

Responsibilities

• Strategic Relationship Management
• Serve as the senior relationship lead for key custody vendors, including subcustodians and central securities depositories.
• Author executive-level service briefings, market intelligence summaries, and strategic planning sessions.
• Influence internal stakeholders to align service delivery with the bank’s expectations and regulatory developments.
• Sub Custody Billing Oversight
• Ensure accurate and timely end to end invoice processing across complex custody arrangements.
• Resolve billing exceptions and lead audit readiness efforts
• Partner with operations and technology teams to enhance billing systems and reporting capabilities.
• Lead and Guide Off-Shore Billing team
• P&L Ownership
• Own the financial performance of assigned sub custodians
• Analyze revenue and cost drivers to optimize profitability.
• Collaborate with finance and product teams to refine pricing models and fee structures.
• Support expense management, reporting and tracking initiatives
• Leadership & Collaboration
• Mentor junior staff members and contribute to talent development.
• Collaborate externally with sub custodians and seek opportunities to introduce State Street services to key sub custody relationships.

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: Executive
• Education Level: No Education Listed