Who we are looking for

State Street Markets, including FX and Treasury Operations, is a highly diverse suite of functions and processes with a heightened degree of criticality, complexity and time sensitivity with exposure to regulatory, reputational and financial risk.

This role is within Strate Street Markets Operations as Global Head of Foreign Exchange & Treasury Operations leading circa 120 colleagues across 12 locations, in the delivery of operational processes, focusing on risk mitigation, client experience, and various trade processing services. A large element of the role is transformation of the function, from operating model changes to a new technology infrastructure to reduce risk, create efficiency and improve service delivery. The role will need to drive the transformation whilst remaining focused on BAU so as to not compromise on service.

This role reports into Senior Vice President - Global Head of Market Operations.

This is a triple hatted role, balancing the Regional Head of Americas, the Global Head of Foreign Exchange Operations, and Global Head of Treasury Operations.

Due to the role requirements this job needs to be performed primarily in the office with some flex work opportunities available.

Why this role is important to us

The team you will be leading plays an important role in the overall success of State Street. When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to State Street Markets. As our investment research, and trading arm, State Street Markets number one goal is to enhance and preserve our clients’ portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world. When State Street Global Treasury needs to manage State Street’s vast portfolio of assets and provide liquidity services for the bank’s core Services via one of their many trading desks, Global Treasury turns to Markets Operations for seamless post trade services.

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

Global Head of Foreign Exchange & Treasury Operations:

• Global Head leading approximately 120 staff supporting the Foreign Exchange (FX) and Global Treasury (GT) operational functions. Products include, but are not limited to: Interest Rate SWAPS, FX, OTC Derivatives, Futures, REPOs, and Term Deposits. 
• Lead and drive the transformation initiative to deliver a global standardized operating model supported by new technology infrastructure.
• Responsible for Markets participation in programs such as ISO 20022, TD+1, and other bank wide initiatives.
• Responsible for the timely and accurate delivery of all cash (payments) and securities (collateral and investment) ensuring minimal operating losses for the GT and FX businesses.
• Focus on the control environment to drive a strong risk & control culture across the global teams to ensure processes are robust & compliant.
• Partner with Technology and the transformation lead for Markets Operations to deliver a best-in-class E2E workflow solution, removing manual touchpoints and increasing STP
• Accountable for a strong governance to monitor and track BAU metrics, using data to identify issues to resolve and opportunities for improvement.
• Ensure vendor oversight and hold them accountable to high standards of delivery.
• Stay abreast of all regulatory and market changes and ensure adherence and no impact to service standards as a result of these changes.
• Partner with ERM and compliance colleagues globally to ensure Markets Operations remains disciplined with respect to adherence to resiliency strategy, control assurance etc.
• Acts as the primary principle (non-licensed) signing off on SWAP Dealer attestations and responsible for ensuring Markets Operations complies with SD regulation.
• Acts as the primary Markets representative for all US Operations facing off with US regulators and/or non-US regulators looking at activity carried out in the US or by a State Street legal entity registered in the US.   

Americas Regional Role

• Responsible for the oversight of State Street Markets Operations including FX, GT, Portfolio Solutions, and Financing Solutions.
• Ensure that the Markets businesses operate in compliance with internal and external regulations and follows the escalation procedures.
• Report regularly to legal entity boards as well as corporate and regional committees with appropriate, timely and relevant information so that the groups can discharge their responsibilities effectively.
• Establish and monitor systems of control, limits of delegation and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively.
• Support a culture of effective challenge to ensure appropriate governance.
• Mentor and grow the regional team, focusing on diversity and coaching the leaders of the future.
• Ensure employee engagement, retention and motivation by driving initiatives and fostering a healthy culture on the ground.

Education & Preferred Qualifications

• 20 years’ experience in Banking Operations in a large multi-national bank
• Experience in FX and/or GT as well Regional Management in a Markets business.
• Experience in regulatory reporting is a plus. The individual should be highly energetic, exhibiting executive presence, effective communication, stakeholder management and be adept at conflict resolution and influencing others.
• Strong risk management and control focus
• A demonstrated ability to multi-task and operate in a fast-paced, deadline-oriented environment
• Strong verbal and written communication skills, ability to facilitate discussions and resolve conflicts between various stakeholders with competing interests.
• Key focus on identifying risks, enhancing controls and being able to drive innovation is essential.

Salary Range:

$170,000 - $252,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.