Role Description:

The Investment Services Product organization is recruiting for an experienced individual to serve as a Fund Accounting and Administration Product Development lead within its Fund Services product organization. 

The individual will partner with the Fund Accounting and Administration (“FAA”) Product leads, the head of Fund Services Product Development, Operations and Technology to execute on overall FAA product development initiatives aligned to FAA’s strategic agenda and roadmap.  The role will be focused on managing the execution of numerous development teams working on individual development priorities which align to broader strategic objectives to strengthen State Street’s position in the industry. State Street’s product organization is leading an exciting period of transformation and requires experienced, motivated individuals to take the FAA business forward.

The role will initiate, design and develop strategic solutions related to how State Street delivers fund accounting and fund administration services globally.  This includes fund accounting delivered across multiple core platforms, including their adjacent applications, including but not limited to security valuation, client oversight tools and data delivery channels.  The role will also have responsibility for coordinating development initiatives specific to State Street’s fund administration functions, including financial reporting, regulatory reporting, tax administration and investment compliance across all jurisdictions where these services are delivered to clients.   

This role includes driving and overseeing execution of approved product change and development initiatives.  Duties will include building out, enhancing or further integrating current platforms, supporting rationalization efforts of current technologies, evaluating or supporting new build or partnership decisions and enabling seamless migration of clients from legacy to future architecture.  

A qualified candidate should demonstrate the ability to think strategically about product capabilities required, recommend or take key decisions, partner effectively with numerous internal stakeholders and possess a strong technical understanding of fund accounting and administration operations.  The role is global, with support expected across multiple time-zones and will require the ability to effectively communicate with both internal and external stakeholders, including clients and third party vendors.

Function

Qualified candidates will have the depth and expertise to drive change within the FAA businesses.  This individual will be key in supporting the overall head of Fund Services Product Development as well as the various Product Managers assigned to FAA services. The person will focus on delivering overall strategic roadmaps and work closely with business and IT to develop and enhance the platform and product capabilities.

Responsibilities

The lead will have responsibility for the following:

• Execution/support of strategic initiatives related within FAA
• Managing multiple projects and teams across numerous roadmaps
• Lead the development and analysis of product-related change, including commercially-viable and client focused business cases
• Delivering clear roadmaps which are executed on-time, on-budget
• Lead the capability models - design and efficiency of both FAA operating model and technology architecture standards, simplifying where possible
• Manage and support the teams to drive the change agenda and ensure change remains aligned to existing regulation and/or internal State Street policies
• Supporting annual investment prioritization activities
• Drive integration and product standards across multiple service disciplines
• Evaluate and recommend further opportunities to rationalize current tech stacks
• Support strategic data modeling and client data delivery channel transformation
• Assess build versus buy opportunities to close product gaps
• Maintain up to date understanding of local regulatory impacts
• Responsible for issue and risk escalation

Skills

• Strong fund accounting knowledge including accounting standards (i.e. IFRS, US GAAP, etc.) general ledger posting rules, NAV construction, complex asset class behaviors (i.e. derivatives, loans) and the various fund product wrappers utilized by investment managers globally
• Strong working knowledge of fund administration functions sitting downstream from the accounting records – including financial and regulatory reporting, fund and custody tax administration and investment compliance 
• Demonstrated ability to manage large teams and develop talent, prioritize work
• Ability to apply knowledge of system behavior and business processes as well as industry knowledge and best practices to design the product and platforms
• Ability to clearly articulate impact of changes to various stakeholders , including preparing business case presentations; ability to train and develop these skills in more junior team members or direct reports
• Ability to oversee, review and edit documentation to ensure completeness and clarity prior to submitting for use in developing solutions as required
• Solid understanding of Agile development practices with respect to roles of product owners, guidance on stories and epics, establishing a backlog, etc.
• Ability to work well within a virtual team that includes members from across State Street global operations, product and IT development teams, contractors, software vendors and other industry participants to design, develop, test and implement solutions that support current and future business requirements
• Strong analytical, communication and presentation skills
• Prior experience of successfully delivering change in a complex environment via Agile and Waterfall techniques
• Prior experience in adoption of AI to Product Development Life Cycle is preferred
• Successful track record of engagement with complex clients, solutioning operating models and developing feature/function capabilities for FAA platforms
• Strong stakeholder management skills with an ability to navigate organization

Experience

• 15+ years’ experience in Securities Services related businesses
• Prior experience in fund operations specific to both fund accounting and administration services is desired
• Experience with implementing, operating and enhancing global fund accounting platforms and their surround ecosystem of supporting applications
• Prior experience in a product or technology role with Agile methodologies as a Product Owner is desired
• Prior experience working in global organizations driving a transformation agenda is desired

Split of role:

• Product design & development: 60%
• Business analysis: 10%
• Internal and external stakeholder management: 30%

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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