Alternative Operations, Assistant Vice President

at  State Street Corporation

Alternative Operations, Assistant Vice President
From technology and product innovation to corporate responsibility and community development, we’re making our mark on the financial services industry. We’re a global company with diverse people and experiences, and a network of over 54,000+ employees spanning more than 100 markets. For us, success comes from the impact our employees have - on our clients, our communities and each other.
We’re committed to providing an inclusive environment where all employees feel valued and supported. Join us and make your mark at State Street.
The AVP within IMS Portfolio Operations (Accounting) is responsible for managing a team with one or more supervisors of exempt and non-exempt employees. They typically have management authority over teams that may have diverse roles and responsibilities. They are leading projects for the department and communicate with both internal and external clients. They are Responsible for ensuring processes and controls are in place to mitigate risk to the organization, and for providing leadership and direction to their teams. Responsibilities include:

QUALIFICATIONS

• Bachelor’s Degree or its equivalent.
• At least 7 years related financial industry experience with 5 years prior managerial experience.
• Demonstrated managerial, leadership and decision making abilities.
• Extensive knowledge of all areas of services, products and processes.
• Working knowledge of accounting, custody, and depository platforms.
• Excellent communications, organization, interpersonal planning, and analytical skills.
• Demonstrated client communication and presentation skills.
• Ability to effectively bring individuals from multiple areas together to resolve identified issues.
• Computer proficient including working knowledge of desktop software applications.
• Bachelor’s degree with business related coursework or B.S. degree in Accounting or Finance preferred.
• Strong computer competence (Microsoft Applications: Word, Excel, Visio).
• Accuracy and detail oriented.
• Strong interpersonal skills.
• Strong communication (verbal and written) skills.
• Ability to multi-task.
• Ability to work under pressure and within a deadline oriented team.

DUTIES INCLUDE BUT ARE NOT LIMITED TO:

• Develop and ensure the effectiveness of the group’s plan of organization.
• Supervise and oversee the activities of global Accounting team.
• Develop procedures to handle new business requirements and increase department efficiency.
• Interact directly with broker, custodian, investment manager, and internal personnel to research exceptions identified via a reconciliation process and achieve resolution.
• Coordinate special projects and ad hoc reports.
• Select and provide continuing training of staff.
• Assist in various aspects of technology enhancements.
• Conduct periodic performance reviews; provide ongoing counsel, training, development and motivation. Participate in the hiring, salary, promotional and termination recommendation process.
• Manage the day-to-day activities and controls and monitors the decisions of subordinate managers and staff to ensure consistency of policies adherence to procedures.
• Serve as lead for department in presentations or for projects.
• Propose and work to implement workflow changes and support technical solutions leading to improved productivity and profitability.
• Represent the corporation through participation in various industry-related activities.
• As a member of Management team, participate in the short- and long-range planning process.
• Keep abreast of regulatory compliance and developments for the assigned area and apprises staff as necessary. Recommend procedural changes as needed to support prescribed requirements.
• Provide leadership direction and support to the managers and staff of the department.
• Manage relationships at all levels of the department to serve as an advocate between the staff and more senior management.
• Effectively communicate corporate and divisional initiatives to the management team to ensure concrete and measurable action is taken within the unit.
• Manage the operations to produce a superior product and provide service excellence to internal and external clients.
• Ensure controls and procedures are in place, and are being followed, to provide the best possible service and minimize risk.
• Establish measurable goals and objectives for the department and hold all employees accountable.
• Initiate projects and improvements to meet client/business needs and improve processes, bringing together other business units when appropriate.
• Perform other managerial and leadership duties (e.g. staffing, budgeting, client presentations, etc.).

JOB DUTIES AND RESPONSIBILITIES

• Coordinates restructure events both externally (clients) and internally (internal stakeholders( to ensure a seamless delivery of the restructure events.
• Manages and delivers projects, IT initiatives and client requests to constantly improve delivery and processes.
• Has a zero tolerance to risk and a control-based mindset to ensure an accurate and timely completion of these restructure events.
• Manages the lifecycle events that are associated with restructures, namely fees, security conversions.
• Manages data trackers and related restructures inquires timely and accurately.
• Supports individual and team efforts with regard to research and resolution process for exceptions and inquiries related to these restructure events.
• Supports Client Operations and Joint Venture team in providing appropriate information for preparation and research of proofs as needed.
• Remains familiar with back-up procedures when system applications and/or transmission problems arise.
• Develop an understanding of settlement processes and types, processing requirements, processing timelines, how those actions may affect fund asset values, and be able to practically apply this knowledge to processing environment.
• During normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures
• May perform other duties as requested.