Billing Transformation Assistant Vice President - Product, ORMB

Functional Job Title             : Billing Transformation – Product (ORMB) -Assistant Vice President

Reports to                                : BTP VP

Department/ Division        : Global Delivery, Chennai

Job Description: AVP – Product Management

Why this role is important to us.

Global Billing Operations (“GBO”) is responsible for all of State Street’s client billing processes across the globe. The remit spans across Asset Servicing, Alpha, Global Markets, Global Advisors and the Digital division. GBO is undergoing a multi-year transformation spanning people and operating models, processes and controls, data automation and technology.

State Street has established a Global Billing Function under Global Finance Center under Controllership, which is responsible for Billing Transformation, Client billing set up and invoicing across all business lines and geographies globally at State Street. Organizationally, it combines all groups performing these activities and also includes centers residing in State Street Shared Service locations in India, Poland and China.

Job Purpose

State Street has committed to significantly automating and streamlining the technology and data associated to its varied billing processes. As part of this commitment, there is a dedicated Billing Transformation organization responsible for developing and implementing the appropriate strategy to migrate from legacy, manual processes to a highly automated environment with more robust controls. A significant component of the Transformation team is located in Global Delivery and is responsible for several key areas of implementing the transformation efforts.

AVP 2 (ORMB Product Management) – GD will be supporting Billing Transformation Product Owner(s), as the team implements billing transformation strategy across Client Set Up Application, Data Hub, and ORMB billing application. The person will be partnering with onshore product owner(s), developing business requirements (FSDs, BRDs and etc.), track, report progress, targets and outcomes linked to target state of product and applications. This role will be responsible for ensuring all product releases, toll gates within agreed timelines, automation, user acceptance testing of applications, system build out validation in line with the strategy and prioritization defined by the Head of Billing Transformation to achieve the goals of migration to the single, Oracle based billing platform (ORMB).

What you will be responsible for

• Actively participate/contribute to Product workshops along with Product owner, Stakeholders and IT partners.
• Create user stories/Business requirements as needed and work with IT partners to scope those requirements for the future product releases and to document/track the backlog for future releases.
• Work with the product end user teams to identify pain points or tasks that can be automated to reduce the client onboarding/setup duration. Triage with the product owner to add the requirements to the backlog and track them to closure.
• Working knowledge of JIRA / Confluence and Agile / Waterfall methodologies is a must.
• Work across the project/BAU teams of business and technology to analyze and explain any issues/solutions pertaining to the billing product.
• Work along with the Business UAT Team in testing new product features or fixes, as part of the release schedule/cycle.
• Develop/review SOP, Workarounds, checklists to document all the features of the billing product(s)
• The product specialist will work in a fast-paced complex engagement model on a day-to-day basis.
• Collaborate closely with the In-Market Product owner(s) and Platform management team to understand expectations and deliverable timelines and ensure that deliverables of the team are load balanced as compared to team staffing.
• Develop the team to adopt "owner's mind set", work independently, and effectively manage timelines
• Manage/collaborate with resources to assist with ad-hoc projects and new activities to support the GBO controller group and program
• Evolve process for Billing Transformation, performing managerial reasonableness reviews and discussing reporting & analytics deliverables prepared by the team.
• Provide support to key stakeholders of the team to present analytical results, triage findings and identify solutions
• First point of escalation within the local reporting line for dealing with issues (people/process/technology) and ensuring that compliance requirements are adhered to (e.g. company policies surrounding standard of conduct, information security, employment regulations)
• Coaches Strong collaboration with the team and works with onshore leadership to establish the team member goals and gather feedback for performance appraisals.
• Ensure completion of deliverables within the committed timeframe including assistance with development of deliverable plans.
• Promote risk excellence culture and looking at opportunities for continuous improvement.

What we Value

• Attention to detail, ownership and accountability
• Ability to navigate and partner with various stakeholders
• Ability to lead teams and manage cross functional domain teams
• Ability to communicate and above-par presentation skills
• Positive attitude, organized, self-starter, with a history of contributing to a successful, diverse team
• Demonstrated experience of multi-tasking and effective time management with attention to detail in a fast-paced environment
• Ability to influence across siloes and work with broader teams and a collaborative attitude

Education & Preferred Qualifications

• Bachelor’s/master’s degree in IT/Product Management with an experience minimum of 12 to 15 years working with in Financial/Global Services Organization /Investment banking related IT Industry
• Worked as a product owner, Product specialist or product design owner in a global multi-faceted function.
• Well versed with billing processes in corporate environment
• Exposure to Financial services industry
• Experience within global projects/stakeholders and global organizations
• Complex operational setting involving analysis of financial data
• Engaged in business or migration/conversion processes
• Experience of Oracle Revenue Management and Billing (ORMB) application is a must have
• Direct support to business or product line management / executives

Additional requirements

• Experience in setting up managing, people, managing and tracking deliverables, setting up reporting cadence ability to summarize – and provide status to key stakeholders
• Understanding of State Street – functional structure- and experience in GD, Operations (would be an added advantage)

Additional Locations

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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