Head of The Depositary Bank Operations

Who we are looking for

Across the globe, institutional investors rely on State Street to help them manage risk, respond to challenges through solutions, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged professionals are essential to our success.

Our commitment to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you.

This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.

Why this role is important to us

You will be joining the Institutional Services function that allows us to deliver a comprehensive, holistic approach to each client relationship — for asset managers and asset owners, insurance companies, and official institutions globally. It means our client-facing functions work together to bring the very best solutions and services the firm has to offer — across all of our locations, products, and capabilities.

The provision of depositary bank services is a fundamental pillar of the European business of State Street, it is a core part of the relationship with clients, generates a significant revenues flow, requires strict adherence to regulations and carries legal and fiduciary risk for the bank.

A strong leader ensures proper co-ordination and integration of the depositary bank activity within a global securities exploiting the wide arrow of opportunities in terms oof synergies and business development, as well as ensures the adequate regulatory posture.

Join us if making your mark on the long-lasting client relationships we build is a challenge you are up for.

What you will be responsible for

Within the Chief Commercial Officer organization of State Street Bank International (SSBI), Zurich Branch the Head of the Depositary Bank Operations is responsible for all aspects of the depositary bank activity for regulated funds domiciled in Switzerland: Safekeeping, NAV verification, Custody and Investment Compliance as well as Income appropriation monitoring.

The activity is supported by several colleagues in Poland performing preparatory tasks over which oversight is performed in accordance to regulation. As part of a global footprint model, the Head of Depositary is also required to perform the oversight over services delivered by other departments of the wider State Street group.

She/he works closely with their direct reports, the team members, their manager as well as with colleagues from the Depositary Product, Client Service Operations, Custody, Fund Accounting, Center of Excellences and other State Street offices such as the Poland Depositary Team. The Head of Depositary Bank in Switzerland will also become a member of the local Branch Management Committee, which is the most senior committee in the country.

Reporting to the Head of Products and Head of Depositary Bank of SSBI as well as the Country Head in Switzerland, both member of the Executive Management Board, the positions requires the execution of a number of managerial activities leveraging on the back of a solid experience in the securities services sector:
- Oversight of day to day depositary bank activity- Direct interaction with clients (fund management companies) to manage operational challenges, emerging issues and develop relationship- Collaborations and interactions with Custody Management Services, Fund Accounting and other internal departments- Contact person to the Swiss Financial Market Supervisory Authority (FINMA) for the State Street Zurich Branch, liaison with internal and external regulatory auditors- Participation to relevant branch committees such as Branch Management, Deal Team, Business Risk and Regulatory and to the EMEA forums (EMEA Depositary Heads / EMEA Fiduciary Working Group)- Representation of the Swiss Branch depositary bank business in the relevant market forums in Switzerland (AMAS, Swiss Fund Day, SBA, AFBS) and in Europe, when needed.- Contribution to business development in co-operation with Sales, Relationship Managers and Clients Service operations- Analysis of the impact of new and evolving regulations on the department in collaboration with product, compliance and legal; and management/oversight of the activities related to implementation of the related changes- Ensuring compliance with all relevant laws and regulations as well as with all corporate policies and procedures, including conflict of interests and fiduciary duties- Oversight of the outsourcing engagements within the depositary bank to be in compliance with the FINMA outsourcing circular- as part of the EMEA Depositary Heads team, active