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Subcustodian Network Manager - Officer

State Street

State Street

Quincy, MA, USA
Posted on Friday, May 10, 2024

As part of a geographically diverse team, the Subcustodian Network Manager role is responsible for establishing and maintaining relationships with local market infrastructure entities, regulators, contractual subcustodians and the correspondent banks servicing State Street along with strengthening and monitoring all relationships to ensure the highest level of service is provided. Key responsibilities include, but are not limited to, identifying and assessing risk, conducting due diligence visits, resolving conflicts, developing first hand detailed knowledge of each market’s structure, settlement practices, safekeeping systems, addressing regulatory elements of our business and managing specific market and client requests. The Subcustodian Network Manager role also works with operational units and the agent banks to further develop product and operational efficiencies for State Street and foreign investors.

This position requires that the candidate monitors, evaluates and communicates market developments including their impact and risk, as well as develops expert knowledge about the assigned markets’ operating models, infrastructure and regulatory framework. The candidate will communicate this information to internal and external clients verbally, in writing and through formal presentations, as appropriate.

The candidate is expected to develop a comprehensive understanding of international best practices for the industry and to advocate for the implementation of those practices and other operational efficiencies with the market infrastructure representatives and agent banks in the assigned markets.

The candidate will also manage projects and coordinate efforts of other teams and business units. Examples include agent bank RFPs and operating requirements revise, client matrices and topical market information inquiries.

The position requires ongoing familiarity with the industry’s evolving regulator and compliance framework, as well as monitoring and implementation of resulting changes to the operating model at State Street and agent banks. It also requires particular focus on the identification and monitoring of risk across functions and process and cooperation with the operational areas and with agent banks to mitigate this risk and resolve crisis and financial exposure situations.

This role requires highly effective verbal and written communication, negotiation and presentation skills with frequent interaction with senior management, internal and external clients and industry colleagues, as well as a rapidly increasing degree of lobbying with market regulators and industry groups.

Salary Range:

$60,000 - $90,000 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.