Who we are looking for
State Street is committed to establishing and maintaining high standards around governance in accordance with leading industry practices. As part of this commitment, there is a dedicated Fee Schedule Governance team responsible for maintaining the GBO Fee Schedule Classification Matrix, supporting our business partners with review of nonstandard client fee schedules, assisting with enhancements to standard fee schedule templates, and review of the monthly accepted change hub inventory to ensure that operational and technological changes are adequately assessed for downstream impacts on client billing. This role will report to the Fee Schedule Governance Lead and will be responsible for providing guidance to standardize client fee schedules, rationalize standard billable items across regions and templates for consistency including data sourcing and calculation methodology.
Want more jobs like this?
Get jobs in Boston, MA delivered to your inbox every week.
Why this role is important to us
Global Billing Operations ("GBO") is responsible for all of State Street's client billing processes across the globe. The remit spans across Asset Servicing, Alpha, Global Markets, Global Advisors, and the Digital division, covering over 50+ billing processes and 40+ legacy platforms. The Fee Schedule Governance team member will play a key role in driving consistency and standardization across GBO including Global Billable Item Catalog (GBIC), Fee Schedule classification and Client Fee Schedule Policy. This role will be a key partner to GBO Regional Leads, Client Admin and Product.
What you will be responsible for
- Fee Schedule governance supporting GBO Regional Leads on classification and reviews of client fee schedules and standard templates
- Collaboration with Product and Client Admin on standardizing client fee schedules to reduce risk
- Assist with implementing new billable items based on market practice to standard templates
- Facilitate communication and engagement between Global Delivery (GD) Functional Leadership and Global Billing Operations (GBO) to ensure that operational and technological changes are adequately assessed for downstream impacts on client billing
- Assist Product with rationalizing and normalizing billable items across global standard fee schedule templates
- Responsible for producing monthly metrics showing success with reducing nonstandard billable items within client fee schedules
What we value
These skills will help you succeed in this role
- Understanding of State Street client segments
- Experience with the fee schedule process (standards, client negotiations, approval process), knowledge of the customer invoice, calculations, and data from the perspective of a customer
- Ability to navigate through complex organizational structures, and ability to facilitate decision making across senior business leaders
- Ability to develop a deep understanding of end-to-end billing processing and capabilities
- Strong understanding of business application of technology
Education & Preferred Qualifications
- Degree required
- 10+ years of experience
- Competency in MS Office including Excel, Word and PowerPoint
- Strong communication, analytical, and problem-solving skills
- Ability to multitask and prioritize work accordingly
- Excellent interpersonal skills, with the ability to build the trust and respect of senior executives
- Strong strategic thinker, with ability to quickly assess complex problems, prioritize key issues, focus on relevant facts, and design business strategy
- Demonstrated experience in collaborating across business and corporate teams
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
Salary Range:
$80,000 - $132,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
State Street's Speak Up Line