Product Development Manager, Collateral Management,Global Markets, Vice President Product Development Manager, Collateral  …

State Street Corporation
in New York, NY
Permanent, Full time
Last application, 20 Nov 20
Competitive
State Street Corporation
in New York, NY
Permanent, Full time
Last application, 20 Nov 20
Competitive
State Street Corporation
Product Development Manager, Collateral Management,Global Markets, Vice President
Enterprise Collateral Management is a business unit within State Street Global Markets ("SSGM") that offers collateral solutions and capabilities to flexibly support client needs. The product suite includes end-to-end collateral management, administration and servicing, analytics and optimization, and transformation.

SSGM seeks an experienced product development professional to help drive a global product development and execution plan, and support the sales organization grow the global collateral franchise. This role offers a holistic view of the SSGM as it helps shape the product strategy of business unit.
This individual will be able to apply industry experience and best practices to develop new and enhanced collateral management capabilities, and maintain a view on the various regulations impacting product solutions and clients. He/she will work collaboratively with regional/global cross-business partners and cross-organizational support functions (e.g., Sales, Operations, Technology, Finance, Legal, Risk, and Compliance) to help improve overall efficiencies and risk mitigants, drive continuous technical and commercial improvements in platform capabilities, and contribute to a growth plan for the collateral business.

Responsibilities

  • Define and help establish a future state operating model for centralised collateral management services within SSGM, working collaborative across functional disciplines
    • Engage with vendors and technology to ensure the operating model benefits from efficiencies of scale, meets target financial and product deliverable milestones, and supports the strategic direction of the business
    • Understand and identify risk mitigants and controls, in alignment with SSGM risk framework
    • Supports the development of the service delivery organisation and a streamlined client transition/onboarding plan

  • Establish and help drive a global product strategy for the enterprise collateral management platform, with particular focus on triparty segregation activities for cleared and uncleared transactions
    • Assist/Participate as an subject matter expert (SME) for the Enterprise Collateral Management business across multiple initiatives
    • Develop and contribute to the product strategy roadmap to ensure a clear execution plan
      • Define a strategic path to transition an outsourced product solution to a collateral platform capability for derivatives margin management
      • Provide expertise in the development of multi-tenanted collateral platform capabilities, working in close collaboration with Technology
      • Ensure product solutions meet industry standards, and enable highly scalable delivery of product solutions to clients across regions
    • Provide expertise in the development of legal documentation and a risk framework to support a collateral platform in line with US, EU and APAC industry regulatory requirements; ensure product development is in line with/anticipates local regulatory requirements for the firm
      • Develop a suite of UMR compliant legal documentation which adheres to local regulatory guidance and ISDA standards
      • Define a strategic client onboarding process to ensure ability for the firm to meet timely service delivery in line with regulatory guidelines
      • Develop a consistent framework for the firm to manage risk and compliance around default management processes under triparty control arrangements
      • Develop clear guidelines for the product's policies and procedures, in line with industry best practices
    • Maintain a view on the competitive landscape and changes in the regulatory environment across regions / collateral transactions / client types
    • Collaboratively support the collateral management sales strategy, aligning product initiatives to sales/marketing planning
      • Develop and maintain product marketing material and content for internal training sessions


Qualifications and Experience

  • Results-driven , pro-active with strong interpersonal skills to partner effectively across a wide-range of internal constituents, and ensure customer satisfaction
  • Proven track-record of global product management delivery in a dynamic, execution-oriented environment
  • Strong verbal communicator with logical approach to problem solving; strategic thinker with commercial awareness of product positioning, competitive and collateral market landscape
  • Comprehensive knowledge of regulation impacting collateral markets, including Uncleared Margin Rules
  • Extensive collateral management experience required, with preference for those with a background in tri-party services and with a buy-side client orientation
  • Bachelor's degree or the equivalent combination of education and experience is required; advanced/graduate degree preferred
  • 8-12+ years of financial services experience preferred
Company Overview

From technology and product innovation to corporate responsibility and community development, 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 - strengthening markets, building communities and creating opportunities for growth.

We owe that longevity to the commitment, expertise and creativity of our employees. Our continued success depends on our ability to attract and develop the best talent in the industry. That's why we're keenly focused on employee development, corporate citizenship and inclusion.

For us, success comes in the mark we make as an organization - for the industry, our clients, our communities and each other.

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