Alpha Wealth Client Service and Operations Support at State Street in Burlington, Massachusetts

Job Description:

Who we are looking for

The AVP, Client Service and Operations Support for the Managed Account Servicing business will help grow and lead the outsourced servicing capabilities aimed at institutional asset and wealth managers who provide managed accounts to affluent individuals and family trusts. State Street is a leading global asset servicer and has a dominant market share in the institutional investment operations outsourcing ("middle office") business. This role represents an opportunity to build a business from the 'ground up' as an extension to our existing middle office outsourcing business. Providing managed account servicing will allow the Managed Account Services Group to more fully support institutional clients with wealth management operations, as well as wealth managers themselves, a segment which is strategically important to State Street Alpha/CRD's growth plans. Given that managed accounts are a predominantly US offering, this business will focus primarily on the US market.

Why this role is important to us

The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

The ideal candidate will have a mixture of Performance Management, Project Management, Service and Operations, and financial systems implementation experience. They will be comfortable running complicated day to day operations and dealing with all the associated issues across State Street and Charles River Development. They will have exposure to mid-level client executives.

What you will be responsible for

As AVP, Client Service and Operations Support:

• Daily SMA operational tasks supporting multiple clients. Examples include:
  
  
  • Daily / weekly recons
  
  
  • New account/sponsor set up
  
  
  • Gather requirements for reporting
  
  
  • Set up accounts in various accounting systems
  
  
  • Entry of transactions, creation of sponsor formatted files, and execution of review controls
  
  
  
  


• Monthly performance activities. Examples include:
  
  
  • Checking for erroneous accounting data (missing prices, inaccurate dividends, failed transactions, etc.)
  
  
  • Reconciliation to second source performance calculation
  
  
  
  


• Research and resolution of non-routine and complex issues related to monthly performance


• Development and execution of test plans for client upgrades and strategic enhancements to performance functionality


• Procedure development and maintenance


• Assist with Implementation of CRIMS for compliance


• Requirements definition, testing, workflow, solution design for existing clients, new clients, and multi-tenant strategic Wealth platform


• Managing and own tasks for multiple project plans

The candidate will be a hands-on business-builder possessing:

• Strong background in an asset servicing business, ideally with wealth management / managed accounts experience, or experience within a wealth or asset management firm providing managed account solutions


• Proven track record defining business requirements related to system integration, workflow design, and overall business process definition


• Charles River IMS or securities trading software experience is preferred.


• Proven institutional investment operations depth with subject matter expertise in one or more of the following core areas: transaction management, reconciliations, corporate actions, performance measurement and attribution, derivatives, bank loans and collateral management


• Strong interpersonal and communications skills, able to interact at all levels of the organization


• High ability to collaborate with others in a matrixed organization


• Experience with SQL, MS SQL Server

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, investments 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 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, experience 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 www.StateStreet.com/careers

Salary Range:
$90,000 - $142,500 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.

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