Product Manager

The Product organisation is recruiting for an experienced individual covering Corporate Actions, Income, Tax and Corporate Governance supporting the Asset Servicing Product Development  agenda.

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 organisation 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 including product standards for Asset Servicing  including drive and oversee execution of approved product change/development. The focus of the role is building out the product owner (technical) , SME/BA capabilities within the Asset serving practice in Custody covering across all key segments – asset managers, asset owners , SWF and FIs

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 will support the Asset Servicing custody development efforts.

The role requires you to be proactively involved in the assessment of available market intelligence (trends, innovations, regulations, market 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

• Create a clear Asset Servicing product roadmap in-collaboration with Custody Product Development head
• Oversee the development and analysis of product-related change, including commercially-viable and client focused business cases, with prioritization and approval of product, operational and regulatory change.  Business cases to be managed in-collaboration with Product Management, Technology and Global Delivery.
• 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.
• Lead and direct the agile team members working on defect identification, triage and remediation including identification of root cause and resolution management as appropriate
• 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
• Oversee archival of documentation and other program artifacts associated with development and implementation activities so that they are maintained for future business needs and audit purposes

Skills

• Good grasp of asset servicing product and operational background or experience
• Subject matter knowledge across Asset Servicing
• 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 Management
• 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 organisation through the solution delivery cycle

Experience

• Agile experience as a Product Owner or Principle Product Owner is desired
• Seasoned VP with 3-5 + years’ experience in Securities Services
• Operated at a global level
• Prior experience working in Operations and/or technology

Outcomes expected from the roles

• In depth understanding of Asset Servicing product and related data management;
• Driving the asset servicing 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
• Project /initiative ownership as requested, with appropriate reporting (with PMO) of prioritized and approved change
• 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%