What are the responsibilities and job description for the Head of Wealth Custody & Clearing, SVP position at State Street?
Who We Are Looking For
State Street Wealth Services seeks to enable wealth advisors and their investment managers to achieve better outcomes for their clients and themselves, thereby enabling revenue growth across all areas of State Street. The Head of Wealth Clearing and Custody will contribute to realizing this vision by assuming responsibility for establishing and executing on the strategy for the Wealth Clearing and Custody business within State Street. This offering will substantially contribute to State Street’s aspiration for Wealth Services. This leader will be accountable for all aspects of the Wealth Clearing and Custody business including revenue/sales, implementations, product, technology, engineering and client support.
What You Will Be Responsible For
The Head of Wealth Clearing and Custody will have full accountability for the following:
These skills will help you succeed in this role
Ideal Competencies & Experience
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.
Discover more at StateStreet.com/careers
Salary Range
$225,000 - $337,500 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.
State Street's Speak Up Line
Job ID: R-770522
State Street Wealth Services seeks to enable wealth advisors and their investment managers to achieve better outcomes for their clients and themselves, thereby enabling revenue growth across all areas of State Street. The Head of Wealth Clearing and Custody will contribute to realizing this vision by assuming responsibility for establishing and executing on the strategy for the Wealth Clearing and Custody business within State Street. This offering will substantially contribute to State Street’s aspiration for Wealth Services. This leader will be accountable for all aspects of the Wealth Clearing and Custody business including revenue/sales, implementations, product, technology, engineering and client support.
What You Will Be Responsible For
The Head of Wealth Clearing and Custody will have full accountability for the following:
- Leading the Wealth Clearing & Custody strategy by thinking holistically about the industry ecosystem, focusing on client needs, the competitive landscape, and regulatory trends
- Owning global P&L for Wealth Clearing & Custody business, including product development, sales and bookings, implementations, client support and identifying potential M&A opportunities
- Driving business cases and deploying investments to expand the platform and achieve target business benefits and drive associated business growth
- Identifying and executing on business development opportunities and strategic partnerships to build the State Street Wealth Clearing & Custody ecosystem
- Standing up first line of defense risk function for Wealth Services
- Leading market expansion domestically and globally, including identifying potential markets for growth
- Developing and nurturing high-value talent through identifying, attracting, coaching, and retaining employees to support the business
- Bringing industry credibility with senior leadership of tier one firms and other centers of influence
- Fostering strong relationships with senior and executive management for the largest, most complex clients
- Navigating complex organizational situations to build a common understanding and align on the path to improve the end-to-end client experience and outcomes
- Building strong, collaborative relationships with peers across Wealth Services and the enterprise
These skills will help you succeed in this role
Ideal Competencies & Experience
- Comprehensive knowledge of market dynamics and regulatory landscape of wealth custody & clearing landscape in the US and globally
- Track record of managing and deploying investments in key areas to foster business growth
- Responsibility running a business with P&L implications
- Experience in collaborating across the enterprise to deliver business results
- Track record of successfully developing and executing Go-To-Market strategy
- Strong executive presence and ability to lead and collaborate cross-functionally
- Demonstrated ability to develop, grow, and operate greenfield market opportunities
- Proven skillset in translation of industry / client themes and trends into actionable strategy, partnering effectively with a wide range of internal and external constituents
- A customer orientation which allows him/her to solicit, acquire, and act on information from customers concerning their current and future needs, issues, and challenges
- Undergraduate degree minimum and graduate degree preferred
- 15 years of related experience including 10 years as part of a global leadership team
- Proven experience successfully recruiting and building world class teams
- Ability to make tough decisions, to change and adapt quickly, while remaining focused on customers and executing business initiatives
- Experience managing a large portfolio of clients and building senior level relationships
- Ability to lead, prioritize and execute on multiple, simultaneous priorities and initiatives
- Strong management background; ability to work both tactically and strategically
- A strong leadership profile coupled with outstanding verbal and written communications.
- Superb business judgment and ability to think through complex business issues.
- Critical assessment capability –ability to maintain a very high bar and drive excellence in work products, services, hiring, etc.
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.
Discover more at StateStreet.com/careers
Salary Range
$225,000 - $337,500 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.
State Street's Speak Up Line
Job ID: R-770522
Salary : $225,000 - $337,500
