Functional Manager, Assistant Vice President

Overview/ Who we are looking for

The Retiree Services Department is looking for an functional Assistant Vice President to oversee activities related to our benefit payments. This individual will manage a section of the business operations team, coordinating with our client service organization to ensure accuracy and that all SLAs are met or exceeded will mitigating risk. As well as working in different capacities as needed, helping to improve efficiencies and maintain administrative responsibilities. This Assistant 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 work proactively manage tasks in a team and within a dynamic environment.
• Ability to effectively prioritize multiple tasks and work collaboratively as part of an international team across multiple locations with global stakeholders
• Display organizational insight & influence while fostering collaboration & team work 
• Ability to communicate effectively and timely at all levels of the organization
• Support staff and develop talent
• Excellent organization and time management skills with the flexibility to multitask prescheduled activities and meet deadlines.
• Support Risk excellence mindset helping to refine the ability to identify and escalate as needed.

Responsibilities:

• Manage staff responsible for the daily activities of a functional team
• Monitor and manage daily service delivery and production activities performed by staff
• Oversee the review, validation, approval and monitoring of the process workflow
• Primary contact and key escalation point for operational issues, as well as technical expert to resolve daily problems
• Manage and escalate issues related to BU Shared Services and COE’s
• Manage departments overtime budget effectively
• Ensure appropriate records of daily and monthly activities are kept
• Assist with compliance/fiduciary reviews, controls, and audits as needed
• 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
• Identify and implement consistent operational best practices
• Compile Shared Service documentation and organize internal meetings, while assisting with coordination and development of agenda and may attend meetings to record notes and action items
• Coordinate the implementation of new funds, systems and processes assisting with client conversions and other client projects
• Provide coaching and development opportunities to staff, complete and deliver PPRs on time
• Make effective recommendations to hire, discipline, control work and terminate employment
• Make effective recommendations for promotions, salary increases and bonuses
• Serve on committees and helps define and implement new company initiatives
• 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

Shared Accountabilities/ Collaboration:

• 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

• Achieve Productivity Targets

• Monitor Resolution Quality

• Champion process improvement efforts
• Adherence to policies and guidelines

Education & Preferred Qualifications

• Bs/Ba Degree

• Preferred previous experience managing staff
• Excellent interpersonal and verbal & written communication skills
• Ability to think strategically, while also detail & solution oriented
• 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

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.

Discover more at StateStreet.com/careers

Salary Range:

$70,000 - $115,000 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.