At a Glance
- Tasks: Lead operations for Prime Services, ensuring smooth borrowing and lending activities.
- Company: Join State Street, a global leader in financial services with a focus on innovation.
- Benefits: Enjoy flexible work-life support, paid volunteer days, and inclusive development opportunities.
- Other info: Be part of a diverse team that values your contributions and growth.
- Why this job: Make an impact in a fast-paced environment while driving strategic improvements.
- Qualifications: 8-10 years in financial services operations with strong leadership skills.
The predicted salary is between 85500 - 104500 £ per year.
The Prime Services Operations Lead, Vice President, is a leadership role responsible for overseeing the operational support of Prime Services borrowing and lending activities, including settlement processes, collateral management, reconciliation, billing, and corporate action event processing. This role ensures accurate trade processing, proper collateralization, asset servicing, risk mitigation, and regulatory compliance, while leading a global team and driving strategic improvements. The position also involves close collaboration with business partners to drive innovation in processes and systems to enhance efficiency, scalability, and risk management, ensuring operational solutions are closely aligned with State Street’s business objectives, industry practices, and evolving market needs.
Key Responsibilities
- Provide governance/oversight of regional teams functions/controls/operating model
- Translate business priorities/strategy from senior stakeholders into clear execution plans across teams/hubs, documenting material issues/risks appropriately
- Track KRI/KPI/performance against business objectives and strategic priorities
- Ownership/accountability for operational hub performance, efficiency, and risk
- Drive operational preparedness for new products, tech transformations, and regulatory changes
- Provide executive level reporting to communicate operational health, risks, trends, resource requirements, and improvement initiatives to senior leaders
Key Team Responsibilities
- Trade & Transaction Management
- Oversee daily processing of Prime Services transactions across markets (borrowing and lending transactions, collateralization/margin calls, triparty transactions, cash movements/wires, billing, and corporate actions)
- Ensure timely and accurate trade capture, confirmation, settlement, and reconciliation
- Partner with global custody teams on trade statuses and adjustments
- Manage trade lifecycle events, like cash dividends, and mandatory/voluntary corporate actions, monthly billing processes
- Collateral Management
- Initiate and support client(borrower) side financing/collateralization waterfall, as well as Lending agent side collateralization(bilateral/triparty) processes
- Manage initial collateral, collateral returns, margin calls, collateral disputes
- Assist in optimizing collateral usage across funding, risk, and trading desks
- Intraday and End of Day collateral sufficiency monitoring
- Risk & Control
- Identify and mitigate operational, settlement, counterparty, and corporate event risks
- Ensure strong internal controls and adherence to audit requirements
- Investigate and resolve cash/share internal/external breaks, fails, and counterparty discrepancies
- Provide viable solutions and KRI’s to reduce and/or eliminate risk to Prime Services, State Street, and its clients
- Regulatory Compliance
- Ensure all Prime Services operational processes comply with relevant regulations, internal policies, and industry standards
- Support reporting requirements and regulatory audits
- Participate and track internal and external audits throughout the year, ensuring all deliverables and action items are handled timely
- Maintain up-to-date knowledge of evolving regulatory/market changes
- Stakeholder Management
- Partner with Front Office, Risk, Treasury, Finance, and Technology teams to understand requirements, delivering solutions that support business growth and risk mitigation
- Act as escalation point for operational issues working with teams to resolve and/or remove road blocks, and ensuring management transparency
- Maintain relationships with counterparties, custodians, and clearing agents
- Manage relationships with external vendors and technology partners, ensuring optimal performance and value from third-party platforms and services
- Team Leadership
- Manage and mentor operations staff and AVPs
- Drive performance, training, and development
- Promote a culture of accountability and continuous improvement
- Process Improvement & Projects
- Identify emerging technologies and process improvements to drive operational efficiency, trading profitability, risk reduction, and enhanced client experience with Prime Services products
- Participate in system implementations and strategic transformation programs
- Enhance scalability and efficiency of operations
- Partner with business leaders, risk, compliance, and technology teams to understand requirements, delivering solutions that support business growth and risk mitigation
Required Qualifications
- Bachelor’s degree in Finance, Economics, Business, or related field is preferred
- 8–10+ years of experience in financial services operations, with focus on Prime Services and principal trading
- Strong understanding of Prime Services products and processes (e.g., trade lifecycle management/settlement/collateral, corporate actions, vendors)
Key Skills
- Leadership and team management
- Strong analytical and problem-solving abilities
- Attention to detail and risk awareness
- Excellent communication and stakeholder management
- Process improvement and project management
Typical Work Environment
- Fast-paced environment
- High interaction with trading desks/client management, counterparties, and global custody teams
- Time-sensitive operations aligned with market hours
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.
Prime Services Operations Lead - Vice President, State Street Markets in London employer: State Street Corp
State Street Corp is an exceptional employer that fosters a collaborative and innovative work culture, empowering employees to thrive in their roles. With a strong focus on professional development and growth opportunities, particularly in the dynamic field of client relationship management, employees can expect to engage with industry leaders while enjoying a supportive environment that values strategic thinking and proactive engagement. Located in a vibrant area, State Street offers unique advantages such as flexible working arrangements and a commitment to employee well-being, making it an ideal place for those seeking meaningful and rewarding careers.
StudySmarter Expert Advice🤫
We think this is how you could land Prime Services Operations Lead - Vice President, State Street Markets in London
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We think you need these skills to ace Prime Services Operations Lead - Vice President, State Street Markets in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to State Street Corp.
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How to prepare for a job interview at State Street Corp
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with State Street Corp.
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✨Network with Industry Professionals
Before your interview, reach out to current or former State Street Corp employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
