Direct Custody Product Manager - UK, VP (hybrid)

State Street Corporation
Edinburgh, United Kingdom
17 May 2023
27 May 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Direct Custody Product Manager - UK Market

The Custody Product organisation is recruiting for a Direct Custody Product Manager to develop the UK market direct custody business, assess future operating model and service capability opportunities. State Street's product organisation is undergoing an exciting period of transformation and requires a Product Manager with deep expertise of the UK market and State Street's UK custody service offering to develop the business.

State Street provides custody services to the world's leading institutional investors and is a Direct Custodian in the UK with over $1trn of our client' assets in market. As Direct Custody Product Manager for the UK market you will lead strategy execution and support P&L for this business. Based in the UK, you will collaborate with stakeholders including other product managers, operational subject matter experts, Global Delivery leaders and market infrastructure to deliver improvements to the UK Direct Custody product that benefit our clients and align to State Street's strategic priorities. The role reports to the EMEA Head of Custody Product Management.

The Direct Custody Product Manager - UK has responsibility for the following:
  • Keeping the UK custody product up to date, competitive and aligned to the needs of clients. This includes establishing a product definition, detailed reviews of cut offs and market investor kits
  • Document product gaps and plans to close gaps assessing the impact on client satisfaction, competitive positioning, and the strategic objectives of State Street
  • With support from EMEA Head of Custody Product Management, determine the business case for future changes to the UK custody product and engage with stakeholders to ensure support
  • Develop and maintain product policies including contractual commitments, credit and risk policies. Examples include use of nominee companies, billing definitions, and AUC definition
  • Ensure deep domain knowledge of UK market practice is embedded in Product and partner teams
  • Partner with Global Delivery, Client Service and the wider Product team to provide expertise and remediate product issues and handle market events - including crisis scenarios and the solutioning of potential operating changes.
  • Provide UK custody knowledge in client pitches, RFP responses and inquiries as required
  • Build deep relationships with UK market infrastructure, industry groups and vendors

  • Experienced Securities Services and/or Cash Services specialist with deep domain knowledge of the UK cash and securities market and State Street's UK custody service offering
  • Solution-orientated collaborator, strong communicator, consultative approach
  • Track record in business ownership and delivering transformation/change projects
  • Subject matter expertise of the Custody family of products; Global Custody, UK Direct Custody and associated FX and Cash products
  • Advantageous to have an industry profile and/or engagement with UK market infrastructure and vendors
  • Preferably based in Edinburgh or London

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.
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