State Street is a leading provider of financial services to institutional investors around the world.
Portfolio Administration is responsible for all operational duties for a set of portfolios within an investment strategy. Directly Responsible for supporting and servicing Portfolio Managers managing funds segregated based on strategy. AVP therefore requires strong staff management and client servicing skills as well as relevant industry experience. He will be responsible to produce results of daily deliverables and is expected to work with little to no oversight, identify and resolve trends and educate and train staff on new issues.
Oversee and take end to end ownership of Operations pertaining to:
• Cash & Positions Balance Check
• Reporting tasks
• Collateral Management tasks
• Reconciliation Activities
• Overdraft balance check
• Exception Management tasks
• Onboarding multiple asset classes onto CRD platform
- Develop and build up a strong relationship with internal and external clients
- Assume managerial oversight of all operations conducted by the assigned team(s) in India
- Ensure sufficiently trained staff is available to service the client/s and deliver quality service
- Assume responsibility for the implementation of client specific projects (new business development review, planning & roll out)
- Conduct Performance appraisals and objective setting
- Provide timely updates on issues affecting daily production to governance and carry out necessary corrective action
- Manage on-going relationships with the goal of meeting/exceeding service delivery standards
- Work to broaden scope of services in India to support overall global strategy
- Represent State Street by serving on internal and external committees and industry associations
- Evaluate current methods and strategies. Communicate and manage implementation of changes and improvements
- Responsible for execution of overall business plan in assigned areas
- Responsible for the direction and development of subordinate managers at all levels as well as staff
- Resolve employee complaints and escalations
- Evaluate subordinate managerial performance
- Continually review the Operating Environment & implement improvements where necessary
- Maintain open lines of communication and ensure regular interaction with onshore oversight teams
- Identify data or accounts trends for discussion in group meetings.
- Remain familiar with back-up procedures when system applications and/or transmission problems arise.
- Build cooperative and professional internal/external relationships achieving group and client goals. Utilize all available resources throughout SSC.
- Cover various management functions and desk coverage when necessary.
- Interact with clients and be prepared for all meetings
- Prepare oversight reports for audit where applicable.
- Take ownership of issues to resolution, engage teams as needed to gain consensus.
- Manage staff to meet goals.
- Track work effort and goals. Escalate issues timely.
- Ensure that the highest level of the Code of Conduct is displayed in your behaviour
- Provide appropriate management information as required to support business unit decision making
- Support the ‘Risk Excellence’ culture within the business
- Adhere to limits of delegation and escalation procedures required by your manager so that you comply with internal policies and external regulations
- Demonstrate the ‘Risk Excellence’ culture in your behavior
- Maintain a detailed understanding of:
- The scope of the role’s managerial responsibilities
- The competence of the staff reporting to you
- Ensure that your team has clear understanding of their reporting lines, authority levels, scope of responsibilities (including those delegated to them and those they delegate), objectives, training and competency requirements plus progress is reviewed regularly in line with Company policy, and are regulatory registered where appropriate for their role
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
- Establish and monitor systems of control, delegated authority and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively
- Adhere to the delegation and oversight (management information and escalation) framework in the performance of daily tasks. This includes taking proactive action to ensure there is adequate production of management information that is fits for purpose, and issues are raised as appropriate
- Establish and monitor an effective delegation framework to ensure that tasks are performed by staff members with appropriate capacity and authority level (based on knowledge, skills and competence).
- Establish and monitor an effective oversight framework to ensure that issues are appropriately identified, escalated and resolved. This includes: a) ensuring that appropriate management information is received, considered and challenged as appropriate at intervals proportionate to the risks; and b) that staff members have clear understanding of the escalation path/principles
- Establish and nurture a culture of ‘Risk Excellence’ within the team, encourage an environment of openness that welcomes effective challenge and supports open discussion.
- Ensure that you make reasonable decisions by exercising reasonable care when considering information available to you. This includes taking proactive action to ensure that the information you have is suitable and adequate.
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members’ behavior in performing their roles.
- Ensure that the highest level of the Code of Conduct is displayed in your own and staff behavior.
- Candidate will be responsible for a team in a busy and challenging environment. The candidate will gain exposure to many client relationship management aspects with an excellent opportunity to gain experience in a fast moving financial services environment.
WORK PARAMETERS OR BOUNDARIES
- State Street Employee Handbook
- Internal Procedures Manual
- FSA Regulations
- Accounting Standards
- Yearly Performance Review
Specific Qualifications/ Skills:
- Confident in dealing with all situations; Excellent Communication; Organizational and Report Writing skills; Proficient in the use of MS Office tools including Word and Excel.
- Fluency in oral and written English is required
- Proven experience of team management in a financial services environment
LEVEL OF EDUCATION
- Bachelor Degree or equivalent. Professional accounting qualification and/or Master’s degree a plus
PREVIOUS LEVEL OF EXPERIENCE
- 12+ years of managerial experience (operations and financial services). Experience in managing large teams and operations servicing multiple clients a must
- Critical Behaviors for Success as defined by the Performance Review System at Core level
- Exercise sound judgment in all matters
- Leverage knowledge and technology to ensure optimal results
- Drive execution of all client and business related tasks
- Provide outstanding service to all client/s – internally & externally
- Communicate effectively at all levels within the organization
- Display organizational insight & influence
- Foster collaboration & team work
- Develop talent
- Leader / Motivator