Who we are looking for
An experienced securities operation manager for the SSGM India COO organisation with a proven record of managing processes and large teams in the area of EQUITY SWAPS product.
We are looking for a highly motivated individual to join SST Global Markets' Financing Solutions business. Financing Solutions contains three key business lines - Agency Lending, Secured Financing and Prime Services. Our fast growing Prime Services group is searching for an Operations Specialist, who would be responsible for driving the execution of a complex global Equity Swaps product supporting the growth of our global Prime Services business.
Prime Services is an alternative to prime brokerage and is the only platform that allows clients to borrow stock and finance from a segregated custody account. State Street's Prime Services solution can reduce counterparty risk, offer additional transparency and provide more control over assets. Clients can also engage in self-borrowing and self-financing from their own long positions from a custody accounts. This approach provides a more efficient and cost-effective way to manage long/short portfolios.
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In order to meet client demand for synthetic market access globally, Prime Services are expanding their product offering to include equity swaps: a market standard Portfolio swap and a flexible Total Return Swap to suit client requirements.
We are looking for an individual who has previously worked in an AVP or VP Middle Office/Operations role. The candidate will have regular interaction with internal and external customers, the front office, and senior management. A successful candidate should have a deep working knowledge of Equity Swap offerings covering the entire lifecycle including Trade Processing, Equity Execution, Corporate Actions, Collateral Management, International Settlement, Confirmation, Middle Office servicing, Regulatory Reporting. This is rare opportunity to look at the product from a 360 degree perspective; building new Operational workflows, then creating a team over time and ultimately leading this team from day one
Deep understanding of EQUITY SWAPS is mandatory to apply to this position
Why this role is important to us
The team you will be joining is a part of State Street Global Markets India COO (SSGM) which is transforming our operating model that provides support to sales and trading desks across all regions EMEA, APAC and North America 24/6. Clients take advantage of a range of financing solutions, from memo-pledge and self-financing to self-borrow and repledge. Our Secured financing solution offers accessibility to cash investment and financing outlets for a wide range of institutional participants.
State Street is one of the largest agents lenders in the world, with over 40 years of experience and more than 250 clients across multiple global markets. Our depth of lendable assets and strong market position provides more trading opportunities When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. Join us if making your mark in the capital markets industry from day one is a challenge you are up for.
Position Responsibilities
- Minimum of 15 years' experience in senior regional management positions within a regulated global financial institution.
- Excellent working knowledge of Equity Swap offerings covering the entire lifecycle including Trade Processing, Equity Execution, Corporate Actions, Collateral Management, International Settlement, Confirmation, Middle Office servicing, Regulatory Reporting
- Essentially a Project Management role pre Go-live, consulting with internal stakeholders, such as the Head of Operations, Head of Prime Services in order to build this product from the ground up
- Providing expertise to assist in setting up the Operations team and processes to support the Equity Swap products after Go-live.
- Post Go-live, oversee all BAU operational process and ensure they are completed on time and accurately, including hedge & swap settlements, corporate action processing, reset and maturity processing, exception management and key controls
- Contribute to the business design efforts to develop the Prime Services in support of the needs of the products' current and future clients and offerings.
- Work with Prime Services business partners to develop solutions to support and improve the business model.
- Developing new processes and procedures for new functions and Swap products
- Appreciation of internal stakeholder management required within a global organisation aligned by product & region.
- Address day-to-day operational issues & escalations and Provide oversight and assistance to Financing Solutions teams based in India
- Bring a strong culture and discipline of change management by working in conjunction with the local Ops teams, the Financing Solutions Global Leads and project management.
- Establish and monitor systems of control, limits of delegation and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively.
- Drive opportunities to work across groups in support of client needs, contribute in enhancing operating model and key Business Unit and Transformation initiatives, deliver on business and regulatory initiatives as per set timelines, achieve our financial commitments by providing better client service.
- Ability of an individual to facilitate the continuous development of individual & organizational competencies, developing other's potential through the sharing of expertise and providing timely feedback. Continue to coach and mentor staff.
- Participates in development of overall objectives and long term goals of the Financing Solutions and/or region
Managerial:
- Manages risk with reputational and financial impact, which may include influencing contracts, products and services sold to clients
- Practices an ethical approach to making decisions
- Anticipates client and business needs, investigates underlying causes identifies, develops and implements short- and long-term solutions; considers broad enterprise implications
- Applies knowledge/skills through handling complex problems and/or coordinating work which may extend beyond own area of expertise
- Social responsibility, global Inclusion engagement / sponsorship, leadership opportunities across STT India
- Executive presence, communication and presentation
- Demonstrate 'Risk Excellence' culture in your behavior and nurture the same ethos within the team, encouraging an environment of openness and transparency that fuels effective challenge, debate and open discussion.
- Establish and nurture a culture of individual and collective ownership at the 'captive' giving all staff a clear sense of both responsibility and accountability. Develop effective working relationships with all SSGM staff at all levels across all locations
- Ensure that all staff adheres to the expected SSGM Code of Conduct.
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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program 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 perspective 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 the 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 program 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
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