Company Profile
- SSTL acts as Trustee/Depositary to Undertakings for Collective Investment in Transferable Securities (UCITS) funds and authorised and unauthorised Alternative Investment Funds (AIFs).
- SSTL is currently one of the largest Depositary/Trustee service providers in the UK
- SSTL has seen significant business growth over recent years and has proactively evolved with new business opportunities brought about by changing regulations
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, for maintaining and improving cost profile of the Operations Team, and for 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 any regulatory and/or internal policy requirements
- Participate as a member of the 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 timeous 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 any 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 are undertaken
- Monitor and evaluate the continuing effectiveness of the controls within Depositary 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 specific projects and actively participate in wider State Street projects and initiatives as required to do so.
- As an when required, represent the Depositary Manager at SSTL during meetings with representatives of the client base, regulator and other areas of the Corporation
- Demonstrate commitment to AML risk excellence through the timely completion of the firm’s “know your customer” due diligence requirements, including for periodic and event driven reviews;
- Escalate proactively material issues and unusual activity that might have an impact on the management of financial crime risk on an ongoing basis as well as at the time of client’s periodic and event driven reviews; and
- Maintain role-specific knowledge of the current anti-money laundering and financial crime risks and issues affecting your business through training and communications.
Escalation
All matters that could have an adverse impact on State Street, its clients and its relationships with regulators will be escalated to the Depositary Operations Manager without undue delay. I understand that it is my responsibility to make sure that all matters I escalate are appropriately resolved.
- Assist the Depositary Operations Manager in managing the Depositary Operations team processes and controls to ensure client assets/money are safe-kept and administered in a manner appropriate to the CASS source book.
- Assist the Depositary Operations Manager in managing Depositary Operations team change, including offshoring and outsourcing arrangements, such that compliance with CASS is considered and any issues are reported to the Head of Operations.
- Complete annual and ad hoc training to maintain relevant knowledge and understanding of CASS.
- Participate in relevant CASS working groups and Committees as convened.
- Comply with CASS specific responsibilities as defined below, along with the other regulations you need to have regard to in your job role.
Escalation – CASS
In line with the CASS Incident Guidelines, any material CASS related matter will be escalated within one business day of being confirmed to the relevant Compliance Officer and the State Street Bank and Trust Company Head of CASS UK and relevant functional heads as appropriate.
Managerial
- Ensure staff have clear lines of reporting, authority levels, objectives and progress is reviewed regularly in line with Company policy.
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
- Ensure staff adhere to strong ethical and conduct standards.
- Support the Depositary Operations Manager in establishing and monitoring systems of control, limits of delegation and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively
- Ensure that appropriate management information is produced and reviewed at appropriate intervals
- Support the Depositary Operations Manager in establishing and overseeing a risk culture within the business and ensure business line accountability for risk identification, management, measurement, monitoring and reporting.
- Support a culture of effective challenge to ensure appropriate governance standards are met
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
Job ID: R-777506
