Managing Director - Product Management, Fund Accounting & Fund Administration, North America (FAA)

Managing Director, Product Management – Fund Accounting & Fund Administration (FAA)

Location: Boston & Kansas City

Role Overview

State Street is seeking a senior, client‑facing, commercially focused product leader to own the product strategy, revenue growth, and profitability of fund accounting and fund administration services in North America.

Key Responsibilities

• Own and drive the global and regional product strategy for fund accounting and fund administration across multiple service offerings.
• Define and maintain clear product value propositions, target client segments, and competitive positioning.
• Develop and execute multi‑year product roadmaps aligned to State Street’s FAA growth objectives.
• Balance global standardization with regional customization to meet market‑specific client needs.
• Own commercial performance of FAA products, including revenue growth, margin performance, and cost efficiency.
• Partner with finance and business leadership on pricing strategies, cost models, and profitability analysis.
• Support investment decisions by articulating return on investment and strategic value.
• Act as a senior steward of the FAA product portfolio’s financial outcomes.

Why This Role

• Shape the future of fund accounting and administration products at a global scale.
• Influence commercial growth and profitability across a core State Street franchise.
• Operate as a senior product leader at the intersection of clients, sales, operations, and technology.
• Represent State Street’s FAA capabilities with senior clients across the North American markets and globally.

Core Product Management Functions

• Lead end‑to‑end product lifecycle management:
  • Product vision and strategy
  • Business case development and investment prioritization
  • Requirements definition and solution design
  • Delivery oversight and market readiness
  • Ongoing performance management and optimization
• Partner with operations and technology to ensure products are operationally executable, scalable, and resilient.
• Drive product simplification, standardization, and rationalization initiatives to improve efficiency and client outcomes.
• Establish and monitor product KPIs, client adoption metrics, and service performance indicators.

Sales Enablement & Client‑Facing Leadership

• Serve as a senior product representative in client and prospect engagements, including strategic client discussions, RFP and proposal support, and solution design and structuring.
• Partner closely with sales and relationship management teams to enable effective product positioning and differentiation.
• Support deal structuring and commercial negotiations.
• Translate client needs into product enhancements and roadmap priorities.
• Represent FAA products at senior client forums, industry events, and internal governance bodies.

Stakeholder & Governance Leadership

• Act as a key product leader within a global, matrixed organization.
• Collaborate closely with global FAA leadership, other regional product leads, and operations, technology, risk, legal, and compliance teams.
• Provide product leadership input into governance forums, strategic initiatives, and regulatory discussions.

Risk, Controls & Regulatory Alignment

• Ensure FAA products are designed and delivered in alignment with regulatory, risk, and control frameworks.
• Partner with legal, compliance, and risk teams to proactively manage regulatory change impacting fund accounting and administration.
• Ensure product documentation, client disclosures, and operating models meet regulatory and audit expectations.

Salary and Benefits

Salary Range: $170,000–$267,500 per year (location dependent).

• 401(k) with company match
• Health, dental, vision, and long‑term disability insurance
• Paid time off including vacation, sick leave, short‑term disability, and family care responsibilities
• Employee Assistance Program
• Incentive compensation, including eligibility for annual performance‑based awards (excluding certain sales roles)
• Eligibility for tax‑advantaged savings plans
• Paid volunteer days and vibrant employee networks

Equal Opportunity Employer

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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