Vista previa de la oferta

Core Operations - Assistant Vice President

senior · Other

About the role

We are hiring an Assistant Vice President (AVP) to support the end-to-end business design, deployment and operational transition of the Direct Custody model for Italy, France, Belgium, the Netherlands & Germany and other T2S markets. The role will translate complex client, market and infrastructure requirements into scalable target operating models, technology solutions, controls and implementation plans across securities settlement, cash and FX support, corporate actions, income, reconciliation and client/account setup.

The successful candidate will operate as a senior business-design lead within the Direct Custody Business Design & Deployment team, partnering with Product, Operations, Technology, Vendors, Market Infrastructures and Control Functions. Following implementation, the role may support subsequent market launches or transition into the relevant BAU Direct Custody operations.

Why this role is important to us

State Street is progressing a strategic transformation from sub-custodian arrangements to direct market participation across key markets. Project requires a coordinated operating model across T2S direct markets, non-direct and sub-custodian routes, multiple client archetypes, account structures and market-specific exception mechanisms.

This role is critical to:

• Delivering controlled direct-market implementation through robust business analysis, requirements definition, solution design, testing and operational readiness.
• Creating a scalable and integrated service model across settlement and market-facing activities, while aligning upstream processing with the existing operating model.
• Managing client and market-specific complexity by distinguishing standard custody processing from exceptions requiring operating-model, technology and control closure.
• Building sustainable internal capability through documented processes, training, knowledge transfer and reduced dependency on temporary project structures.

Key responsibilities (Direct Custody aligned)

Market, Client and Account-Structure Analysis

• Analyse market rules, clients, transaction volumes, operating locations and service requirements across Italy, France, Belgium, the Netherlands, Germany and associated non-direct routes.
• Assess requirements for the different client archetypes and local market participants.
• Define operational requirements for Cash & Securities Account structures
• Review existing roles and responsibilities and identify functional, process, control and ownership deltas against the target Direct Custody model.

Target Operating Model and End-to-End Process Design

• Design target-state processes aligned to State Street capabilities and the Direct Custody Target Operating Model across settlement, cash and liquidity, corporate actions, income, reconciliation and client servicing.
• Develop scalable process flows for T2S direct markets, including Euronext Securities Milan, Clearstream Banking Frankfurt and ESES markets, and define interfaces with non-direct or sub-custodian routes.
• Define operating models for traditional OTC activity, ONEX flows, and applicable settlement or netting types
• Identify process dependencies, hand-offs, exception ownership, service-level requirements and escalation paths across internal and external parties.

Market-Specific Mechanisms and Exception Design

• Define requirements, operating controls and design for market specifics like auto-collateralisation, auto-borrowing French registration and deregistration & corresponding market notifications.
• Define requirements, operating controls and design for client specifics like pool creation and specialised Hold & Release processing, including control points, eligibility logic and operational ownership.
• Support portfolio-transfer design and market-specific position reflection or rebuild requirements.

Business Requirements, Technology and Vendor Engagement

• Lead the preparation and review of business requirements, process maps, functional specifications and traceability across business, technology and vendor deliverables.
• Evaluate vendor and application capabilities, identify functional and integration gaps, and define remediation or target-state solutions.
• Partner with Technology and vendors to drive solution design, interface requirements, data mapping, messaging, workflow and exception-management capabilities.
• Review and approve vendor Functional Solution Documents and ensure the proposed design meets business, operational, control and market requirements.
• Maintain disciplined scope, dependency, decision and issue management, with clear impact assessment and escalation to governance forums.

Testing, Operational Readiness and Implementation

• Develop comprehensive test scenarios and test cases covering standard processing, client/market variants, exceptions, controls and end-to-end integration.
• Coordinate system integration testing, market testing, user acceptance testing, defect triage, remediation validation and regression testing.
• Own business-readiness assessments across operating procedures, staffing, access, static data, connectivity, controls, reporting and contingency arrangements.
• Support go-live and client-conversion decisions through evidence-based readiness reporting, risk assessment and stakeholder sign-off.
• Provide implementation support, stabilisation oversight and structured handover into the Direct Custody BAU organisation.

Risk, Controls, Compliance and Operational Resilience

• Embed robust risk, compliance and governance requirements within the target operating model and solution design.
• Support operational resilience and business-continuity readiness, including critical process identification, recovery requirements and BCP knowledge transfer.
• Coordinate business-function, control and organisational-framework setup, together with risk assessments and evidence requirements.
• Define access, security and identity-governance requirements and ensure appropriate role design, approvals and segregation of duties.
• Ensure regulatory, market-infrastructure and connectivity requirements are identified, documented and addressed before implementation.

Procedures, Training and Knowledge Transfer

• Review existing procedures and Business Process Maps to determine applicability and gaps for new Direct Custody functions.
• Develop and maintain market- and application-specific SOPs, control procedures, operating guides and process documentation aligned to the Target Operating Model.
• Design and deliver training on market structures, applications, operating processes, exceptions and controls for implementation, BAU and BCP teams.
• Institutionalise knowledge through structured handover, cross-training and reusable artefacts that support future Direct Custody market launches.

Leadership and Stakeholder Management

• Lead assigned workstreams and provide day-to-day direction, quality oversight and subject-matter support to analysts and project resources.
• Partner across Product, Operations, Technology, Vendors, Market Agents, Risk, Compliance, Client Service and other internal stakeholders.
• Facilitate workshops, drive decisions, challenge gaps constructively and communicate complex operational matters clearly to senior stakeholders.
• Act as an escalation point for business-design and readiness issues, ensuring risks, dependencies and decisions are transparent and resolved promptly.
• Promote standardisation, automation, operational resilience and continuous improvement across the regional and global Direct Custody operating model.

Operational analytics and reporting

• Build and maintain implementation dashboards covering requirements, design decisions, gaps, testing, defects, controls, training and operational-readiness milestones.
• Produce concise management reporting on progress, risks, dependencies, decisions, remediation actions and readiness status.
• Support capacity, footprint and workforce planning for phased market delivery and transition into BAU operations.
• Use post-implementation metrics and root-cause analysis to identify opportunities for control enhancement, process standardisation and automation.

Qualifications and experience

• Bachelor’s degree in finance, Accounting, Business, Technology or a related discipline; a master’s degree, MBA or relevant professional qualification is advantageous.
• Typically, 10-12 years of experience in securities services, custody, post-trade operations, business analysis, operating-model design or complex transformation delivery, with experience leading workstreams and stakeholders.
• Strong knowledge of securities settlement, cash and liquidity, reconciliation, corporate actions and income processes within a global custody or direct custody environment.
• Practical understanding of T2S, European CSD/ICSD models, Dedicated Cash Accounts, settlement messaging, market cut-offs and exception management.
• Experience producing business requirements, functional specifications, process maps, test scenarios, SOPs, training materials and senior-management reporting.
• Demonstrated experience in vendor engagement, application assessment, testing, implementation readiness, risk and control design, and operational handover.
• Strong communication, structured problem-solving and stakeholder-management skills, with the ability to convert complex market requirements into clear and implementable solutions.
• Working knowledge of SWIFT settlement and cash messaging and ISO 20022 is preferred

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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