Product Development, AVP

The Product Development organization is recruiting for an candidate with experience in transaction processing and settlements and custody  

The individual will partner with the Product team, Global Delivery (operations) and Technology to execute on the overall custody product development initiatives and agenda, in alignment with Custody product strategic objective to strengthen State Street's position in the industry.  State Street's product organization is leading an exciting period of transformation for the business and requires experienced individuals to take the business forward.

The role will Initiate and support designing, developing solutions and closing product gaps to support client retention, client growth, enhance client experience and operating framework for State Street to be successful in the complex markets.  This is focused on settlements and positions in custody.   This individual would be a lead BA in support of  execution of approved product change/development.

Function

The person would have the depth and expertise to effectively develop requirements, solutions and have the SME knowledge to execute on the overall custody product development initiatives and agenda described above. 

The role requires you to be proactively involved in business requirements based on product gaps / backlog impacted by  market and regulatory changes, grasp of the technical and functional aspects of the service and stakeholder feedback (clients and coverage/product management) to support the evolution of the custody business.

Responsibilities

The role will have responsibility for the following

• Support the leads to Create a clear product roadmap in-collaboration with Custody Product Development head
• Business analysis related to development and analysis of product-related change, including commercially-viable and client focused business cases.
• Ensure change remains aligned to existing regulation and/or internal policies.
• Support design and efficiency of the operating model, standards and technical stack/architecture, with an objective to simplify where possible working with the Product Management, Technology and Global Delivery.
• To be product owner or lead BA  working with the  agile team members working on prioritized backlog
• Responsible for ensuring appropriate governance, compliance with policies/frameworks and oversight of issues, risks, audit and compliance items.
• Support annual planning and funding prioritization activities where required

Skills

• Excellent grasp of and Settlements custody  and operational background or experience
• Subject matter knowledge across custody
• Strong analytical skills
• Prior experience of successfully delivering change in a complex environment whilst managing competing environments, and delivering projects using Agile and Waterfall techniques
• Proven change agent with track record of delivery
• Integration and understanding of impact on Data
• Track record of engagement with complex clients, solutioning operating models and translating requirements into feature function capability for State Street Custody platform
• Familiarity with industry integration tools and their applicability in shortening the chain of custody across the investment lifecycle
• Strong stakeholder management skills with an ability to navigate organization through the solution delivery cycle

Experience

• Agile experience as a Product Owner or Principal Product Owner is desired
• Seasoned AVP with 3-5 + years' experience in custody
• Operated at a global level
• Prior experience working in Operations and/or technology

Outcomes expected from the roles

• In depth understanding of Direct Custody
• Driving a change agenda and execution of the development initiatives to improve the overall operating environment for State Street
• Proactive input and idea generation for product development roadmap
• Maintain up to date understanding of regulatory headwinds and other industry disruptors and industry bodies that could impact the area
• Responsible for issue and risk escalation
• Appropriate governance and audit trail on documentation of all key decisions and actions.

Split of role

• Product Design & Development : 30%
• Business Analysis : 60%
• Market / Client interaction : 10%