Functional Manager, Officer

This job is with State Street, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Overview / Who we are looking for

The Retiree Services Department is looking for a Functional Manager to oversee activities related to our benefit payments. This individual will manage a section of the business operations team, coordinating with our client service organization to ensure accuracy and that all SLAs are met or exceeded will mitigating risk. As well as working in different capacities as needed, helping to improve efficiencies and maintain administrative responsibilities.

Why this role is important to us

The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS' tools help our clients make better investment choices and act on growth opportunities.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What we value

These skills will help you succeed in this role :

Ability to work proactively manage tasks in a team and within a dynamic environment.

Ability to effectively prioritize multiple tasks and work collaboratively as part of an international team across multiple locations with global stakeholders

Display organizational insight & influence while fostering collaboration & team work

Ability to communicate effectively and timely at all levels of the organization

Support staff and develop talent

Excellent organization and time management skills with the flexibility to multitask prescheduled activities and meet deadlines.

Support Risk excellence mindset helping to refine the ability to identify and escalate as needed.

Responsibilities :

Manage staff responsible for the daily activities of a functional team

Monitor and manage daily service delivery and production activities performed by staff

Oversee the review, validation, approval and monitoring of the process workflow

Primary contact and key escalation point for operational issues, as well as technical expert to resolve daily problems

Manage and escalate issues related to BU Shared Services and COE's

Manage departments overtime budget effectively

Ensure appropriate records of daily and monthly activities are kept

Assist with compliance / fiduciary reviews, controls, and audits as needed

Establish and maintain files, including highly confidential and sensitive information, that pertains to clients and division / corporate operations, as well as short / long-term strategies, budgets, etc.

Assess impacts of regulatory changes

Identify and implement consistent operational best practices

Compile Shared Service documentation and organize internal meetings, while assisting with coordination and development of agenda and may attend meetings to record notes and action items

Coordinate the implementation of new funds, systems and processes assisting with client conversions and other client projects

Provide coaching and development opportunities to staff, complete and deliver PPRs on time

Make effective recommendations to hire, discipline, control work and terminate employment

Make effective recommendations for promotions, salary increases and bonuses

Serve on committees and helps define and implement new company initiatives

Mitigate potential financial and regulatory risk by overseeing, and resolving issues

Promote a risk awareness culture in staff

Participate in client calls and projects e.g. preparing discussion items, client presentations, as needed

During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and / or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures

Perform other duties as required

Shared Accountabilities / Collaboration :

Work in conjunction with individuals on the team as well as other Shared Service teams / COE's, outsource locations, Client Operations, other business units and external clients, to ensure seamless processing according to policies and procedures to ensure accuracy and that all SLAs are met or exceeded

Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.

Client retention and satisfaction

Maximize client profitability

Timeliness and accuracy of daily and monthly processing and reporting

Adherence to SLA, PSDs & SOPs

Achieve productivity targets

Monitor resolution quality

Champion process improvement efforts

Adherence to policies and guidelines

Education & Preferred Qualifications

BS / BA degree

Preferred previous experience managing staff

Excellent interpersonal and verbal & written communication skills

Ability to think strategically, while also detail & solution oriented

Background in tax reporting and compliance is preferred, or willingness to learn

Strong technical skills - ability to navigate on multiple systems; strong MS Office skills, especially Excel

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 :

$65,000 - $102,500 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.

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