Prime Services Equity SWAPS Specialist, Vice President

Full Job Description

Who we are looking for

We are looking for a highly motivated individual to join SST Global Markets’ Financing Solutions business. Financing Solutions contains three key business lines – Agency Lending, Secured Financing and Prime Services. Our fast-growing Prime Services group is searching for an Operations Specialist, who would be responsible for driving the execution of a complex global Equity Swaps product supporting the growth of our global Prime Services business.

Prime Services is an alternative to prime brokerage and is the only platform that allows clients to borrow stock and finance from a segregated custody account. State Street’s Prime Services solution can reduce counterparty risk, offer additional transparency and provide more control over assets. Clients can also engage in self-borrowing and self-financing from their own long positions from a custody accounts. This approach provides a more efficient and cost-effective way to manage long/short portfolios.

In order to meet client demand for synthetic market access globally, Prime Services are expanding their product offering to include equity swaps: a market standard Portfolio swap and a flexible Total Return Swap to suit client requirements.

We are looking for an individual who has previously worked in a Middle Office/Operations role. The candidate will have regular interaction with internal and external customers, the front office, and senior management. A successful candidate should have a deep working knowledge of Equity Swaps, including portfolio swaps, covering the entire lifecycle:, trade processing, equity execution, Corp actions, collateral management, settlement, confirmation, middle office servicing and regulatory reporting. This is a once in a lifetime opportunity to look at the product from a 360 degree perspective; building new Operational workflows, then creating a team over time and ultimately leading this team from day one.

Why this role is important to us

Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

What you will be responsible for

A Successful candidate’s duties will include:

• Providing technical, market, and industry expertise to assist in setting up the Operations team and processes to support the Equity Swap products after Go Live.

• Consulting with internal stakeholders, such as the Head of Operations, Head of Prime Services, Legal and Compliance in order to build this product from the ground up.

• Working with external vendors and consultants to design BAU Operational processes.

• Oversee all BAU operational process and ensure they are completed on time and accurately, including swap settlements, Corp action processing, reset and maturity processing, exception management and key controls upon go-live.

• Consulting and working alongside Global Trading, Client Service desks in relations to operation processes to Prime Services and its swap clients.

• Managing performance and development of staff members; provides staff with cross-training opportunity

• Identifies areas of potential risk and exposure and provides viable solutions to reduce and/or eliminate risk to Financing Solutions, State Street and its clients.

• Contribute to the business design efforts to develop the Prime Services in support of the needs of the products’ current and future clients and offerings.

• Work with Prime Services business partners to develop solutions to support and improve the business model.

• Developing new processes and procedures for new functions and products or as the lending and trading environment changes

• Acts as a point of escalations within team and for those queries coming into the team.

What we value

These skills will help you succeed in this role:

• Experience working in a change-management role.

• Ability to manage multiple priorities and unit workflow in a fast-paced environment

• Ability to identify areas of exposure, take necessary steps to protect Prime Services, its clients and the corporation

• Strong relationship management, decision-making, problem solving, leadership, risk management, communication and project management skills

• Customer focus

• Successful candidate should be enthusiastic, keen to learn and be part of a growing team

• Good communication, organization, problem solving, analytical and prioritization skills

• Microsoft proficient

Education & Preferred Qualifications

• Excellent knowledge of Operational teams – 7-10 years’ experience in Corp Actions, Dividends and International Settlements, Collateral Management, Swap lifecycle, Confirmation and regulatory reporting.

Are you the right candidate? Yes!

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.