Depositary Operations Officer, State Street Trustees Limited (SSTL)
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Role – To assist the Depositary Operations Manager in managing the Operational service delivery for SSTL clients and be responsible for the day-to-day running of the Operations Team. The purpose of the role is to assist the Depositary Operations Manager in executing the SSTL strategy for Operational service delivery, maintaining and improving cost profile of the Operations Team, and ensuring that Customer Service and information delivery standards are met or exceeded. Deputise for Depositary Operations Manager as appropriate.
The main responsibilities will include:
* Managing the internal SSTL Operations team and External Audit team responsible for Service Delivery.
* Play a leading role in day to day client relationships, conducting regular service reviews and other meetings with Operational and External Audit staff and SSTL management as appropriate.
* Build, nurture and manage robust and sustainable relationships with clients.
* Maximise client profitability through efficient process management, adhere to compliant and contractually agreed charging structures and ensure that cross-sell opportunities with clients are escalated appropriately.
* Support our client base in matters of a technical or regulatory nature ensuring that at all times they have a positive impression of SSTL.
* Evaluate and manage operational risk across current and prospective client base.
* Participate in any client or prospect meeting.
* Ensure the Operations team and External Audit team are operating in accordance with applicable regulations and with Corporate and HR policies.
* Ensure that the Depositary Operations team and External Audit team complies with applicable regulations, including but not limited to COLL, FUND and CASS rulebooks (as related to UCITS V and AIFMD) and that systems and controls are sufficiently robust to mitigate any risks to the business whilst providing support to all levels as necessary.
* Manage delivery of change including business transformation.
* Oversee breach correspondence with Managers/ACDs and regulators as applicable.
* Ensure that customer complaint handling is undertaken in accordance with regulatory and internal policy requirements.
* Participate as a member of various internal committees as and when required to do so.
* Manage the External Audit team leading visits as required and ensure oversight reports are produced in a timely manner.
* Perform the role of Outsourcing Engagement Manager (OEM) for any Outsourcing Arrangements assigned by the Depositary Operations Manager.
* Complete all Mandatory training in advance of specified deadlines.
* Participate in relevant regulatory working groups and committees as and when required to do so.
* Ensure that regulatory changes impacting the Depositary Operations team and External Audit team are implemented in a timely manner with resulting control amendments and staff communications/procedural updates undertaken.
* Monitor and evaluate the continuing effectiveness of the controls within Depsitary Operations team and External Audit team processes and procedures.
* Review any losses with the Depositary Operations team to ensure each is documented correctly and remedial action taken to ensure no repetition.
* Participate in SSTL’s projects and wider State Street projects and initiatives as required.
* As required, represent the Depositary Manager at SSTL during meetings with client base, regulator and other areas of the Corporation.
* Demonstrate commitment to AML risk excellence through timely completion of the firm’s know your customer due diligence requirements, including periodic and event driven reviews.
* Escalate proactively material issues and unusual activity that might impact financial crime risk; maintain knowledge of current anti-money laundering and financial crime risks through training and communications.
Escalation
* All matters that could have an adverse impact on State Street, its clients and regulators will be escalated to the Depositary Operations Manager without undue delay.
* Assist the Depositary Operations Manager in managing Depositary Operations team processes and controls to ensure client assets/money are safe-kept and administered appropriately.
* Assist in managing Depositary Operations team change, including offshoring and outsourcing arrangements, ensuring compliance with CASS and reporting issues to Head of Operations.
* Complete annual and ad hoc training to maintain relevant knowledge of CASS.
* Participate in relevant CASS working groups and Committees.
* Comply with CASS responsibilities and related regulations as per role.
Escalation – CASS
In line with the CASS Incident Guidelines, any material CASS related matter will be escalated within one business day of confirmation to the relevant Compliance Officer and State Street CASS leadership.
Managerial
* Ensure staff have clear lines of reporting, authority levels, and regular progress reviews in line with policy.
* Develop effective working relationships and communications with staff; ensure staff are motivated, developed and supported.
* Ensure staff adhere to strong ethical and conduct standards.
* Support the Depositary Operations Manager in systems of control, limits of delegation and escalation procedures to ensure regulatory compliance and effective management.
* Ensure that appropriate management information is produced and reviewed regularly.
* Support a risk-aware culture with accountability for risk identification, management, and reporting.
* Foster a culture of effective challenge to meet governance standards.
About State Street
State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. We provide investment servicing, data and analytics, investment research and trading, and investment management to institutional clients.
What we do. Work, Live and Grow. We offer a great work environment with competitive benefits, flexible work programs, and development opportunities.
Inclusion, Diversity and Social Responsibility. We value diverse backgrounds and perspectives and support a balanced life with volunteer days and employee networks.
State Street is an equal opportunity and affirmative action employer. Find more at StateStreet.com/careers.
Job ID: R-777506
Seniority level
Not Applicable
Employment type
Full-time
Job function
Other, Information Technology, and Management
Industries
Financial Services, Investment Banking, and Investment Management
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