What are the responsibilities and job description for the Private Markets Product Development Manager - Private Equity, VP position at State Street?
State Street’s is making a multi-year strategic investment in Private Markets and the Alternatives Product organization seeks a qualified leader with strong experience and interest in product development for Private Markets, more specifically Private Equity. This role will report to the Managing Director responsible for our Private Equity & Solutions offering; and is responsible for leading the product development program of our Private Equity offering (capabilities, services and platform). The product offering includes front-office technology, traditional middle and back-office asset and fund administration, and transfer agency. The individual plays a key role in leading the development program across, and in partnership, with the client facing, product, global delivery (operations), technology and Alpha teams. The role is a key voice in our overall private markets product and in helping to strengthen State Street’s position in the industry. .
The role reports to the MD of Private Equity & Solutions and will participate in establishing our strategy, capability gaps and development priorities. More specifically, they will own the development process from beginning to end, including program management, oversight of business analysts on the team, and other dependent teams within State Street. The product and capabilities development work are expected to align with increasing our market share, closing product gaps to support client retention, client growth, and enhancing client experience.
The successful candidate must be highly organized, have experience leading development programs and be able to move seamlessly between multiple implementations and changing client requirements. The role will include implementing solutions not only for specific clients, but also as part of the overall private markets strategy that will be leveraged across Private Markets clients.
Responsibilities
- In collaboration with the MD of Private Equity & Solutions and client facing teams, assist in creating our technology, services and product strategy including competitive landscape, pricing and go-to market; and have direct ownership for execution of the development roadmap for Private Equity.
- Responsible for managing execution of development of new products, capabilities or services across the Private Equity asset class, including partnering with other members of the Product team, Global Delivery, Technology and the Alpha team.
- Responsible for product development governance, agile development process support, compliance with policies and oversight of issues, risks, audit and compliance items.
- Gather and track client feedback/requests and incorporate in product development roadmap.
- Organize and conduct implementation project status meetings, including communicating status to internal, senior management and external stakeholders.
- Coordinate transition of developed capabilities into the Global Delivery and Charles River for Private Markets teams upon completing development work.
- Oversee resources performing business analysis and requirements definition.
- Support annual planning and funding prioritization activities where required.
- Understand the firm’s strategic plans, business, process and architecture and apply that knowledge in the solution design and development phases.
Skills
- Demonstrate strong understanding of product development process, agile development and experience with asset servicing for Private Markets, specifically Private Equity is a plus.
- Demonstrated ability to lead development life cycle, complex projects or client engagements and translating needs to requirements to drive outcomes
- Excellent project management, analytical and process transformation skills – ability to lead as well as roll up your sleeves as needed
- Strong organization, communication and interpersonal skills, written and oral, including interaction with senior stakeholders.
- Ability to organize, prioritize, balance key tasks and manage time effectively.
- Comfortable facilitating project working groups including internal and external stakeholders.
Experience
- Minimum of 10 years of experience in investment operations, project management, client implementation and/or business analysis.
- Knowledge of or experience leading product development programs/processes related to the financial services industry is an advantage.
- Experience with designing new solutions by analyzing requirements, studying system capabilities, and writing specifications would be an advantage.
Salary Range:
$110,000 - $177,500 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
Salary : $110,000 - $177,500
