FaCT Financing Solutions - Product Development, Global Markets, Vice President at State Street in Boston, Massachusetts

Job Description:

The Funding and Collateral Transformation ("FaCT") team, within State Street Global Markets (“SSGM”) combines a) the Firm’s principal fixed income repo desk, supporting clients with both the FICC Sponsored Member Repo Program and Peer-to-Peer Repo, and the Global Treasury division’s balance sheet initiatives and b) the Enterprise Collateral Services product suite supporting end-to-end collateral analytics, margin management and Triparty for State Street’s global client base.  In parallel, FaCT has a mandate to act in a Financial Resource Management (“FRM”) capacity – centralizing and optimizing collateral and funding management needs across SSGM and the Firm.

FaCT now seeks to hire an experienced Product Development professional that will be responsible for driving a digital transformation strategy and overseeing the implementation of new and existing Financing products.  This is an exciting new role in the FaCT division and offers the successful individual an holistic view of SSGM as it helps shape the product strategy of the business unit.

This individual will bring a commercial and client-oriented mindset, applying industry experience and best practices to develop new and enhanced digital financing capabilities, as well as maintaining a view on the various regulations impacting product solutions and clients.  He/she will work collaboratively with regional/global cross-business partners and cross-organizational support functions (e.g., Sales, Operations, Technology, Finance, Legal, Risk, and Compliance) to help improve overall efficiencies and risk mitigants, drive continuous technical and commercial improvements in platform capabilities, ensure clear alignment on execution, and contribute to a growth plan for the Financing business.  This individual will drive product expansion from concept to implementation

Responsibilities

• Define and help establish a future state operating model for front-to-back financing capabilities, working collaboratively across functional disciplines
  
  
  • Engage with vendors and technology to help define business requirements, ensure the operating model benefits from efficiencies of scale, meets target financial and product deliverable milestones, and supports the strategic direction of the business
  
  
  • Understand and identify risk mitigants and controls, in alignment with SSGM risk framework
  
  
  
  


• Establish and help drive a global product strategy for the Financing platform, with particular focus on Sponsored Cleared repo and Global Peer-to-Peer Repo
  • Assist/Participate as a subject matter expert (SME) for the Financing business across multiple initiatives
  
  


• Develop and contribute to the product strategy roadmap to ensure a clear execution plan
  
  
  • Provide expertise in the development of electronic platforms
  
  
  • Define a strategic path to transition from voice to electronic
  
  
  • Ensure product solutions meet industry standards, and enable highly scalable delivery to clients across regions
  
  
  
  


• Develop a consistent framework in the development of legal documentation and a risk framework to support financing platform in line with US, EU and APAC industry standards; ensure product development is in line with/anticipates local regulatory requirements for the firm
  • Develop clear guidelines for the product’s policies and procedures, in line with industry best practices
  
  


• Maintain a view on the competitive landscape and changes in the regulatory environment across regions / client types


• Collaboratively support the FaCT sales strategy, aligning product initiatives to sales/marketing planning
  • Develop and maintain product marketing material and content for internal/external marketing campaigns  
  
  

Qualifications and Experience

• Results-driven , pro-active with strong interpersonal skills to partner effectively across a wide-range of internal constituents, interact professionally with clients, business, risk, treasury and technical teams


• Proven track-record of global product management delivery in a dynamic, execution-oriented environment


• Creative and willing to challenge current paradigms; comfortable with ambiguity and able to make decisions with imperfect information


• Strong verbal communicator with logical approach to problem solving; strategic thinker with commercial awareness of product positioning, competitors and repo market landscape


• Comprehensive knowledge of electronic trading platforms and collateral infrastructure; understanding of global regulation in financing markets preferred


• Strong understanding of financing front and middle office, and knowledge of Systems, Business, Processes, Standard operating models


• Bachelor’s degree or the equivalent combination of education and experience is required; advanced/graduate degree preferred


• 8 to 12 years’ experience in financial markets, specifically in financing and collateral products (e.g., Lending, Repo; CSD/IRS/FX)