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Custody Product Development Manager Asset Servicing, AVP

State Street

State Street

Quincy, MA, USA
Posted on Wednesday, May 8, 2024
Job Description

Global Custody: Asset Servicing (Corporate Actions, Income , tax and corporate governance) – AVP level

The Product organisation is recruiting for an experienced individual covering Corporate Actions, Income, Tax and Corporate Governance supporting the Asset Servicing Product Development agenda.

The individual will partner with the Product team, Global Delivery (operations) and Technology to execute on the overall custody product development initiatives and agenda, 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, developing solutions and closing product gaps to support client retention, client growth, enhance client experience and operating framework including product standards for Asset Servicing including drive and oversee execution of approved product change/development. The focus of the role is building out the product owner (technical) , SME/BA capabilities within the Asset serving practice in Custody covering across all key segments – asset managers, asset owners , SWF and FIs


The person would have the depth and expertise to effectively develop requirements, solutions and have the SME knowledge to execute on the overall custody product development initiatives and agenda described above. The role will support the Asset Servicing custody development efforts.

The role requires you to be proactively involved in the assessment of available market intelligence (trends, innovations, regulations, market changes), grasp of the technical and functional aspects of the service and stakeholder feedback (clients and coverage/product management) to support the evolution of the custody business.


The role will have responsibility for the following

  • Assist in creating a clear Asset Servicing product roadmap in-collaboration with Custody Product Development head
  • Support in 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. Business cases to be managed in-collaboration with Product Management, Technology and Global Delivery.
  • Ensure change remains aligned to existing regulation and/or internal policies.
  • 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.
  • Lead and direct the agile team members working on defect identification, triage and remediation including identification of root cause and resolution management as appropriate
  • Responsible for ensuring appropriate governance, compliance with policies/frameworks and oversight of issues, risks, audit and compliance items.
  • Support annual planning and funding prioritization activities where required
  • 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


  • Good grasp of asset servicing product and operational background or experience
  • Subject matter knowledge across Asset Servicing
  • 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
  • Integration and understanding of impact on Data Management
  • Track record of engagement with complex clients, solutioning operating models and translating requirements into feature function capability for State Street Custody platform
  • Familiarity with industry integration tools and their applicability in shortening the chain of custody across the investment lifecycle
  • Strong stakeholder management skills with an ability to navigate organisation through the solution delivery cycle


  • Agile experience as a Product Owner or Principle Product Owner is desired
  • Seasoned AVP with 3-5 + 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 Asset Servicing product and related data management;
  • Driving the asset servicing change agenda and execution of the development initiatives to improve the overall operating environment for state street
  • Proactive input and idea generation for product development roadmap
  • Maintain up to date understanding of regulatory headwinds and other industry disruptors and industry bodies that could impact the area
  • Responsible for issue and risk escalation
  • Project /initiative ownership as requested, with appropriate reporting (with PMO) of prioritized and approved change
  • Appropriate governance and audit trail on documentation of all key decisions and actions.

Split of role:

  • Product Design & Development : 30%
  • Business Analysis : 60%
  • Market / Client interaction : 10%

About State Street

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:

$80,000 - $132,500 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.