The Product organization is recruiting for an experienced individual covering core banking (DDA) platform supporting the cash payments and liquidity Product Development lead.

The individual will partner with the Product team, Global Delivery (operations) and Technology to execute on the overall cash product development initiatives and agenda focused on build a modern banking (DDA) platform and associated services, in alignment with Custody product strategic objective to strengthen State Street's position in the industry. State Street's product organisation is leading an exciting period of transformation for the business and requires experienced individuals to take the business forward.

The role will Initiate and support designing and developing the strategic banking platform and support the strategy to decommission legacy platforms including the migration to strategic platform to support client growth, enhance client experience and operating model.

This role includes driving and overseeing execution of approved product change/development initiatives, specifically supporting the parallel production strategy to build out the strategic platform and seamless migration of clients. This requires ability to perform as a Product Owner for an Agile room(s) and manage the collection of input from subject matter experts, operations teams, product managers, client service teams and/or our clients for the purpose of developing complete and substantive business requirements. The position requires the ability to document use cases and operational flows as well as support colleagues with less experience develop those skills while also acting as gatekeeper to ensure quality documentation is generated and any shortcomings are addressed prior to releasing the documents for downstream use. Development of efficient operating models that include effective business controls will be a job function of the successful candidate.

Function

The role requires the depth and expertise to effectively develop requirements and solutions, such as stories/epics, develop and groom backlog required for the migration tools and production parallel and have the SME knowledge to execute on the overall custody product development initiatives and agenda described above. The role will support the Cash, Payments and Liquidity lead. The person would focus on the production parallel migration and validation strategy, and work closely with business and IT to develop comprehensive solution to support tranche migrations across all global locations (17 branches).

Responsibilities

The role will have responsibility for the following

Act as the Product Owner leading the work required to efficiently execute the production parallel and client migration strategy
Support the development and analysis of product-related change, including commercially-viable and client focused business cases, with prioritization and approval of product, operational and regulatory change.
Ensure change remains aligned to existing regulation and/or internal policies.
Requires understanding of the local requirements for both deployment and ongoing regulatory compliance etc.
Support design and efficiency of the operating model, standards and technical stack/architecture, with an objective to simplify where possible working with the Product Management, Technology and Global Delivery.
Work with the core banking applications team to establish requirements and manage Agile development required to design and develop solutions for complex payments and banking operations
Manage team members working on defect identification, triage and remediation including identification of root cause and resolution management as appropriate
Support annual planning and funding prioritization activities
Oversee archival of documentation and other program artifacts associated with development and implementation activities so that they are maintained for future business needs and audit purposes

Skills

Ability to apply knowledge of system behavior and business requirements as well as industry knowledge and best practices to design and test solutions
Ability to clearly articulate impact of any changes to team members, testers and business end users to ensure that testing and acceptance processes are completed successfully; ability to train and develop these skills in more junior team members or direct reports
Ability to oversee, review and edit documentation to ensure completeness and clarity prior to submitting for use in developing solutions
Ability to write Agile stories and epics, establish a backlog and groom that backlog is desired as is experience with developing these skills in our global team
Work well within a virtual team that includes members from across State Streets global operations, product and IT development teams, contractors, software vendors and other industry participants to design, develop, test and implement solutions that support current and future business requirements
Subject matter knowledge
Strong analytical skills
Prior experience of successfully delivering change in a complex environment whilst managing competing environments, and delivering projects using Agile and Waterfall techniques
Proven change agent with track record of delivery
Track record of engagement with complex clients, solutioning operating models and translating requirements into feature function capability for State Street Custody platform
Strong stakeholder management skills with an ability to navigate organisation through the solution delivery cycle

Experience

Product and operational background or experience with payments and deposit banking services is desirable
Experience with implementing or operating Temenos's Transact is desirable as is a level of technical familiarity with one or more of the global payment networks or messaging standards used by State Street such as: ISO 20022 pacs and camt messages, Fedwire, CHIPS, ACH, Target2 or SEPA.
Agile experience as a Product Owner or Principle Product Owner is desired
Seasoned VP with 7+ years experience in Securities Services
Worked in Product organizations in prior roles
Operated at a global level
Prior experience working in Operations and/or technology

Outcomes expected from the roles

In depth understanding of payments and deposit banking products; seamless client migrations and decommissioning of legacy branches
Proactive input and idea generation for product development roadmap
Maintain up to date understanding of local regulatory impacts
Responsible for issue and risk escalation
Project /initiative ownership as requested, with appropriate reporting (with PMO) of prioritised and approved change
Appropriate governance and audit trail on documentation of all key decisions and actions.

Split Of Role

Product Design & Development : 35%
Business Analysis: 60%
Market / Client interaction: 5%

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.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement

Job ID: R-792400

Custody Product Development Manager CPL- Banking Platform and Migration - Vice President