Funds Transfer Business Support, Officer

Why this role is important to us:

Fund Transfer is a key function performed across State Street, exposing the enterprise to significant risk due to the nature of the transactional environment of the organization. Significant transformation initiatives, including the company’s digital transformation and expanding business capabilities (which leverage industry best practices and advanced technologies such as cloud, artificial intelligence, and robotics process automation) further enhance the need for this role, which aims to drive consistency across the enterprise. Funds Transfer activity relates to the movement of funds (cash and securities) on behalf of clients to a beneficiary, usually outside of the Bank, inclusive of all steps from transaction initiation (whether originating internally or externally) to payment processing (monetary instructions) through the Banking system. It also includes activities that facilitate the subsequent movement of funds (collectively known as non-monetary instructions such as the establishment or modification of standing instructions, customer access to payment applications, applications used in the funds transfer life cycle and FTTOP documentation). Governing that process is key.

Who we are looking for:

Funds Transfer Business Support Specialist

The successful candidate will be responsible for working directly with the Funds Transfer Central Team to help govern Funds Transfer across the enterprise. The candidate will have a reporting line in to the Funds Central Team Lead. The role will include providing SME guidance on the implementation of key fund transfer related initiatives enterprise wide as well as oversight of funds transfer risk and assisting with implementing risk reduction initiatives consistently across the enterprise. The role will also include assisting on projects/efforts within the team on specific initiatives aligned to improving the tracking of and reporting of risk related to Funds Transfer activity.

What you will be responsible for:

Enterprise-wide Fund Transfer risk reduction, including:

• Assisting with Funds Transfer related risk reduction, remediation, and reporting.

• Recommendation & execution of changes to FTTOP Policy and Standards.

• Engagement with teams of other strategic initiatives and policies aligned to Funds Transfer.

• Assist with change management initiatives for funds transfer.

• Metrics compilations and automation of reporting and risk analysis.

• Participate in implementation of technology or IT related initiatives to support effective and efficient management of funds transfer risk.

• Participate in the implementation of central repository for all fund transfer documentation.

• Identify opportunities to use of AI and robotics to optimize automation.

• Day to Day support to BAU teams in interpreting Funds Transfer guidelines and policy. Provide education around FTTOP and Funds Transfer policy.

What we value:

These skills will help you succeed in this role:

• Experience in financial services operations of fund transfer activities/payment processing – SME level knowledge

• Knowledge of applications supporting Funds Transfer activity and the ISRMP process

• Experience on large scale operational transformation initiatives

• Experience in preparing reports for discussion topics, metrics sharing.

• Excellent communication skills

• High level of proficiency with Microsoft Office

Education & Preferred Qualifications

• A minimum of a bachelor’s degree in information technology/management or business.

• A minimum of 5 years Financial Services experience.

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 are making our mark on the financial services industry. For more than two centuries, we have 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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You will have access to flexible Work Program 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 perspective 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 the 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 program 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.

Salary Range:

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.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

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About State Street

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

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

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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.