State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management, market research and trading. With $28.4 trillion in assets under custody and administration and $2.48 trillion in assets under management State Street operates in 29 countries and more than 100 geographic markets and employs over 29,000 worldwide promoting a culture of excellence.
At the moment we are looking for candidates for the position of
Depositary Team Leader
Req number: RR-565299
Purpose of Role:
The Team Supervisor is responsible for first line managing the Depositary Team. In order to efficiently and effectively manage the operations, the Team Manager focusses in particular on the following:
Goal setting and organizing
The Team Manager sets the operational goals for the team as a whole, and the operational and personal development goals for the individual team members. This includes:
- Assigning and communicating responsibilities within the team.
- Managing the work flow of the team.
- Setting clear, realistic, and challenging PPR goals for Team Members.
- Chairing the weekly Team Meeting and assuring any action points are clearly allocated and time framed.
Observing and supporting
The Team Manager observes the status of the operations and provides additional management attention whenever needed. This includes:
- Quality controlling the work conducted both in terms of quantity (finishing the daily tasks) and quality (outcome of the work). Focus points for quality control are: timeliness, accuracy, and completeness of work conducted. Discussing the outcomes with direct reports and agreeing on a resolution plan where necessary.
- Hosting regular one-on-one meetings with Team Members, providing feedback, and give or arrange coaching for Team Members where necessary.
- Hosting bi-annual PPR reviews. Describe the witnessed development of the team member and agree on the focus points for the coming months.
- Managing any interpersonal conflicts within the team.
Risk management and management information
The Team Manager manages the risks within the team, on an operational and a human resources level. The Team Manager keeps the Department Head informed of problems and successes within the Depositary Team. This includes:
- Conducting resolution sessions with team members when needed due to quality of work or communication style issues.
- Meeting with the Department Head on a weekly basis and assuring that after this meeting, the
- Department Head is aware of any issues regarding the timeliness, accuracy and completeness of all work conducted within the Depositary Team.
- Prepare and plan workloads to ensure client and internal deadlines are meet
- Identifies and takes action to correct procedural weaknesses
- Communicate to internal departments progress on pending project
- Act as first point of contact for general queries
- Facilitate resolution of outstanding issues and/or exceptions with other departments in respect of the unit’s work
- Monitor and document process flows and procedures
- Management of internal/external audit requests through to audit sign off.
- Determine training requirements and development activities of the team
- Oversee the mentoring and development of the team through goal and objective setting.
- Maintaining and fostering a team environment
- Ensuring communication with appropriate contacts on outstanding items is effective in order to ensure highest standards are met Introduce and contribute new ideas/procedures to further streamline the operational process
- Responsibility for MIS reporting (to offshoring SSB sites and Management) and regular calls.
- Ensure error reporting and mitigating actions in place.
Specific Qualifications / Skills:
- Strong leadership, management, and organizational skills. Good working knowledge of software packages, particularly Microsoft Excel, good interpersonal skills and an understanding of the rudimentary aspects of the global financial industry would be advantageous Numeracy / Literacy skills.
- The ability to understand complex investment fund structures and to identify the risks inherent in those structures.
- A thorough understanding of fund administration is required.
- Experience in finance, custody or funds would be an advantage.
- Fluent / upper-intermediate (B2+) in English
Critical Behaviors for Success as defined:
- Ability to work under pressure and to tight deadlines
- Attention to detail crucial
- Methodical and organized
- Team player
- Ability to work on own initiative
- Good management skills
Previous Level of Experience:
- 2+ years experience in finance, custody or funds administration would be recommended