Business Operations, Vice President at State Street in Quincy, Massachusetts

Job Description:

Overview/ Who we are looking for

The ideal candidate will have strong understanding of Retiree Services and Benefit Payment products along with servicing many clients varying in complexity. The candidate should possess experience managing retirement program's daily operations, various administrative functions and service delivery to all clients. This Vice President role will be integral in contributing to the department's strategic initiatives and planning efforts.

Why this role is important to us

The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS' tools help our clients make better investment choices and act on growth opportunities.

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

What we value

These skills will help you succeed in this role

• Ability to meet deadlines and navigate changing priorities


• Provide outstanding service internally & externally


• Communicate effectively at all levels within the organization


• Display organizational insight & influence while fostering collaboration & team work


• Exercise sound judgment in all matters being able to drive execution of all client and business related tasks while managing risk


• Develop talent

• Account for daily management of team members and the maintenance of assigned accounts, as well as allocate and coordinate resources and handle personnel related issues


• Oversee the review, validation, approval and monitoring of the process workflow


• Assess operational effectiveness and make suggestions to streamline functions, and ensure optimal service environment and technology usage


• Manage key relationships with client companies, regulatory and vendor organizations, to ensure requests are being met with a satisfactory level of service


• Manage and escalate, at a relationship level, issues related to BU Shared Service and COEs, as well as coordinates with BU Client Operations, COEs, BU Shared Services, and clients around major events (i.e. transitions, spin-offs)


• Manage broad array of operating standards driving innovation, strategic opportunities and best practices


• Manage conversions of new business, plan for and review client specific agreements and internal policies


• Ensure BCP plans are valid and tested periodically


• Manage departments direct and indirect budgets effectively


• Establish and maintain files including highly confidential and sensitive information that pertains to clients and division/corporate operations, as well as short/long-term strategies, budgets, etc.


• Assess impacts of regulatory changes


• Develop and implement process improvements, effectively manage change to ensure departmental objectives are met


• Provide coaching and development opportunities to staff, complete and deliver PPRs on time


• Make effective recommendations for promotions, salary increases and bonuses


• Serve on committees and use influence to help define and implement new company initiatives


• Lead and coordinate key initiatives and projects


• Provide monthly and periodic certifications on business performance and activities e.g. SOC1 controls, reconciliations and audit corrective actions


• Mitigate potential financial and regulatory risk by overseeing, and resolving issues


• Promote a risk awareness culture in staff


• Participate in client calls and projects e.g. preparing discussion items, client presentations, as needed


• During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures


• Perform other duties as required

• Work in conjunction with individuals on the team as well as other Shared Service teams/COE's, outsource locations, Client Operations, other business units and external clients, to ensure seamless processing according to policies and procedures to ensure accuracy and that all SLAs are met or exceeded


• Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.

• Client retention and satisfaction


• Maximize client profitability


• Timeliness and accuracy of daily and monthly processing and reporting


• Adherence to SLA, PSDs & SOPs


• Monitor resolution quality


• Champion process improvement efforts


• Adherence to policies and guidelines

• BS/BA degree


• Experience managing staff


• Excellent interpersonal and verbal & written communication skills


• Ability to think strategically, while also detail & solution oriented


• TAX: Background in tax reporting and compliance is preferred, or willingness to learn


• Strong technical skills - ability to navigate on multiple systems; strong MS Office skills, especially Excel

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/career

Salary Range:
$135,000 - $210,000 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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