Global Custody: Value Stream – Head of Product Development, MD

Who we are looking for

The Product organization is recruiting for an experienced individual to be Value Stream Product Development lead for payments

The individual will partner with the Product team, Head of Product development, Global Delivery (operations) and Technology to execute on the overall product development initiatives and agenda focused on driving the change and execution agenda to build the value stream Capability and services , including the platform infrastructure, product features and enabling migration across State Street legal entities from legacy.

This is in alignment with Custody product strategic objective to strengthen State Street’s position in the industry.  State Street’s product organization is leading an exciting period of transformation for the business and requires experienced individuals to take the business forward.

The role will Initiate, design and develop the strategic platforms and support the strategy to decommission legacy platforms including the migration to strategic platform to support client growth, enhance client experience, products and operating model.

This role includes driving and overseeing execution of approved product change/development initiatives, building out of  the strategic platform , driving change internally and seamless migration of clients,  This requires ability to think strategically about the product capabilities required, take decision ; partner with liquidity product partners and have a strong understanding of banking and payments to drive the solution design. Oversee the collection of input from subject matter experts, operations teams, product managers, client service teams and/or our clients for the purpose of developing   complete service and development of efficient operating models.

The person would have the depth and expertise to drive change within Cash, Payments and Liquidity arena,   This individual will be key in supporting the overall head of product development. The person would focus delivering on the strategy, and work closely with business and IT to develop  the platform and product capabilities.

Why this role is important to us

You will be joining the Institutional Services function that allows us to deliver a comprehensive, holistic approach to each client relationship — for asset managers and asset owners, insurance companies, and official institutions globally. It means our client-facing functions work together to bring the very best solutions and services the firm has to offer — across all of our locations, products, and capabilities.

Join us if making your mark on the long-lasting client relationships we build is a challenge you are up for.

What you will be responsible for

The lead will have responsibility for the following:

• Execute on the strategy and development agenda to :
  • Build the strategic payment platforms and overall payments capability  
  • Consolidatie payment initiation platforms
  • Build out value stream products to support the business
  • Evaluate digital asset capabilities
• Deliver a clear product roadmap in-collaboration with Product Development head , includes prioritization and budget planning annually , with IT and Operations
• Lead solution to support tranche migrations part of the business and client migration strategy
• Lead 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.
• Manage and support the team to drive the change agenda and ensure change remains aligned to existing regulation and/or internal policies.
• Lead the capability model - 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.

What we value

These skills will help you succeed in this role

• 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 any changes to various stakeholders , including preparing 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
• Have a good understanding of Agile with respective to role as product owners , guidance on stories and epics, establish a backlog and groom that backlog to guide the team as required
• Work well within a virtual team that includes  members from across State Streets 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
• Subject matter knowledge
• Strong analytical and presentation 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
• Track record of engagement with complex clients, solutioning operating models and  developing feature function capability for State Street platform
• Strong stakeholder management skills with an ability to navigate organization

Education & Preferred Qualifications

• Product and operational background or experience with payments services is desirable and delivering change programmes
• Experience with implementing or operating business such as a  global payment and banking networks and understanding messaging standards and mechanisms in cash payments .
• Agile experience as a Product Owner or Principle Product Owner is desired
• 10+ years’ experience in Securities Services
• Worked in Product organizations in prior roles
• Operated at a global level
• Prior experience working in Operations and/or technology

Additional requirements

• In depth understanding of e,g, payments and deposit banking products; seamless client migrations and decommissioning of legacy branches
• Proactive input and idea generation for product development roadmap  and annual budgets
• Maintain up to date understanding of local regulatory impacts
• Responsible for issue and risk escalation
• Project /initiative ownership, with appropriate reporting (with PMO) of prioritised and approved change
• Appropriate governance  and key decision making on outcomes  

Split of role:

• Product Design & Development : 50%
• Business Analysis: 20%
• Market / Client interaction/ management: 30%

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

Salary Range:

$170,000 - $267,500 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.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

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.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement

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.