This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

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.

The provision of depositary bank services is a fundamental pillar of the European business of State Street, it is a core part of the relationship with clients, generates a significant revenues flow, requires strict adherence to regulations and carries legal and fiduciary risk for the bank.

A strong leader ensures proper co-ordination and integration of the depositary bank activity within a global securities exploiting the wide arrow of opportunities in terms oof synergies and business development, as well as ensures the adequate regulatory posture.

Join us if making your mark on the long-lasting client relationships we build is a challenge you are up for.

What you will be responsible for

Within the Chief Commercial Officer organization of State Street Bank International (SSBI), the Head of the Depositary Bank Operations is responsible for all aspects of the depositary bank activity for regulated and non-regulated funds domiciled in Germany: Due Diligence, Oversight, Cash Monitoring, Custody and Investment Compliance for both Model 1 and Model 2 structures.

The managed team is composed of 90 HCs based in Germany across Munich and Frankfurt. The activity is supported by circa 100 Hcs in Poland performing preparatory tasks over which oversight is performed in accordance to regulation. As part of a global footprint model, the Head of Depositary is also required to perform the oversight over services delivered by other departments of the wider State Street group.

She/he works closely with their direct reports, the team members, their manager as well as with colleagues from the Depositary Product, Client Service Operations, Custody, Fund Accounting, Center of Excellences and other State Street offices such as the Poland Depositary Team.

Reporting to the Head of Products and Head of Depositary Bank of SSBI, who is a member of the Executive Management Board, the positions requires the execution of a number of managerial activities leveraging on the back of a solid experience in the securities services sector:

• oversight of day to day operations of the department
• collaborations and interactions with Custody Management Services, Fund Accounting and KVG operations
• participation to relevant committees at the level of SSBI
• representation of the SSBI business in the relevant market forums in Germany and in Europe, when needed.
• contribution to business development in co-operation with sales, Relationship Managers and Clients Service operations
• analysis of the impact of new and evolving regulations on the department in collaboration with product, compliance and legal; and management/oversight of the activities related to implementation of the related changes
• as part of the European Depo Heads team, active contribution to the on-going Transformation, a multi-year program aiming at rationalizing operations and systems of the Depositary Bank activity at European level to enhance clients experience, realize synergies to on-board new business at a lower costs while ensuring and improving, where needed, the adequate regulatory posture
• specifically with respect to Transformation, lead on ensuring the depositary operating model for Germany is fit to deliver the current and future client needs at the right cost and to ensure the technology model proposed meets current and future client, operational, and resiliency needs
• direct interaction with clients to manage operational challenges, emerging issues and develop relationship

What we value

These skills will help you succeed in this role:

• Ability to use data / information to take decision on strategic developments of the activity, obtain support for investments and manage risk
• Adopt a risk based approach to ensure proper management of the day to day operations
• Strong organizational skills and ability to manage large operational teams spread across different locations in a global environment serving local and global clients
• Excellent communication and management skills
• Service-oriented and results-focused
• Ability to work autonomously and to take ownership
• Change orientated and ability to envision a future state for the department

Education & Preferred Qualifications

• Minimum of 10-15 years professional experience in financial business services
• Knowledge of German and EU regulations surrounding banking and securities services

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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.

#LI-Hybrid

State Street's Speak Up Line