Who we are looking for
State Street is recruiting for a VP to work in our Agent Bank and Cash Correspondent Bank Network Management team. Network Management is part of Product Development. State Street’s network consists of over 150 relationships across 103 countries and is an integral part of the operation of the bank with over $42trn in AUCA.
Network management is responsible for establishing and maintaining relationships with local market infrastructure entities, regulators, contractual subcustodian and cash agent banks servicing State Street’s cash and securities services requirements, while strengthening and monitoring all relationships to ensure the highest level of service is provided. Network Management works with top tier and strategic clients providing market advisory.
Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What you will be responsible for
As Network Management Vice President, you will
- establish, strengthen and maintain relationships with subcustodian and cash agent banks appointed to service State Street’s securities services and cash requirements.
- monitor, evaluate and communicate market developments including their impact and risk, as well as develops expert knowledge about the assign markets’ operating models, infrastructure and regulatory framework. The candidate will communicate this information to internal and external clients verbally, in writing and through formal presentations.
- support efforts for containing costs associated with management of global subcustody network.
- relay client / industry concerns to local market authorities
- serve as a point of escalation for internal and external clients and resolve conflicts and issues related to relationship, operational, regulatory, risk and financial matters.
- manage projects and coordinate efforts of other teams and business units. Examples include agent bank RFPs and operating requirements reviews, clients matrices and topical market information inquiries.
The position requires ongoing familiarity with the industry’s evolving regulatory and compliance framework, as well as monitoring and implementation of resulting changes to the operating models at State Street and agent banks. It also requires particular focus on identification and monitoring of risk across functions and processes and cooperation with the operational areas and with agent banks to mitigate this risk and resolve crisis and financial exposure situations
What we value
These skills will help you succeed in this role
- This role requires highly effective verbal and written communication, negotiation, and presentation skills with frequent interaction with senior management, internal and external clients, and industry colleagues, as well as a rapidly increasing degree of lobbying with market regulators and industry group. The position requires a global strategic mindset with ability to prioritize issues, influence the industry and collaborate with the broader team and business areas across the organization.
- Candidate must be able to work independently and as part of a team providing solutions and recommendations to management.
- Requires relationship skills to ensure optimum subcustodian performance considering diverse operational processing needs and client requests.
- Must be able to work with individuals at all levels from entry level to executive management both internally and externally around the globe and understand the effect their judgment can have on clients and on State Street (such as financial impact and reputation).
- Must be willing to work with geographically and culturally diverse colleagues across different business units, as well as with external clients.
- Must have an understanding of financial markets and the functions and processes associated with transaction settlement and asset servicing.
Education & Preferred Qualifications
- Bachelor’s degree. 7+ years of global custody operations and client service or related experience.
- Proficient market knowledge on any APAC markets preferred.
- Proficient in English and mandarin (preferable)
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
