Head of Regulatory and Tax Services, VP
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $33.1 trillion in assets under custody and administration and $2.8 trillion in assets under management as of December 31, 2017, State Street operates globally in more than 100 geographic markets and employs more than 31,070 employees worldwide, across 29 countries. At State Street, our people are our greatest asset.
We recognize that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility — to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills. State Street is an equal opportunity employer and we encourage applications from men and women from all ages, including those with a disability and those who identify as LGBTI.
As a Unit Head, you need to create a clear vision for the department and courageously influence a large group of employees. You must be able to articulate that vision, passionately own it and relentlessly drive it to completion. You must inspire dedication in others leading by example and have the ability to think differently and creatively. You must also be able to collaborate with other department heads both locally and globally, working cohesively across the organisation to deliver quality service to our clients.
Your responsibilities include development and management of staff in conjunction with the execution of departmental and strategy. As Department Head you will oversee the activities of the department holistically and ensure the effectiveness of the group’s plan of execution. Key performance measures for this role center around employee engagement and development, development and execution of the department’s strategy aligning to the firm’s broader strategy, client satisfaction levels and client retention, risk excellence and cost control.
- Formulate a departmental strategy that creates and leverages business opportunities
- Manage service expectations and maintain effective working relationships with clients both externally and internally
- Develop timely and innovative solutions to meet clients' needs
- Create an environment that attracts, engages and retains industry leading talent.
- Maintain a holistic view of the department and ensure consistency across each of the teams
- Ensure lateral movement and different opportunities for staff including creating an operating model that supports flexible work arrangements (FWAs)
- Drive initiatives within the department
- Lead by example, displaying a positive can do attitude.
- Drive execution of internal initiatives relating to strategy and create a sense of urgency and empowerment around completion. Drive accountability for results.
- Manage budget and expenses requirements for the unit. Ensure timely updating of client billing schedules
- Ensure full compliance with the corporate Risk Policy, Standard Operating Procedures, relevant legislation and regulatory requirements
- Participate in client presentations and tenders for new business.
- Ensure successful new client transitions.
- Drive effective implementation of legislative change into existing service delivery
Deepen our Client relationships
- Deliver on the client service model, leverage global footprint, ensuring teams provide proactive client service
- Drive solutions for existing and new clients.
- Lead client discussions, sharing insights on trends and impact of legislative changes
Execute our digital strategy
- Ensure effective utilisation of new technologies
Develop our talent and improve organisation effectiveness
- Actively commit to developing self and others to drive the competitive advantage achieved through a diverse, engaged and mobile workforce. Create a team that is considered by others to be high performing.
Achieve our Financial Commitments
- Create new strategies to grow revenue, win and maintain clients, control expenditure and manage risk. Understand and evaluate ROC when assessing business investment.
Strengthen Risk Excellence
- Encourage teams to speak up and challenge without negative consequences. Continue to enhance controls, drive ethical decision making across the team.
Execute our growth strategy through focused investment
- Inspire and motivate others to drive success even in the face of resistance or challenge. Make compelling business cases using accurate data. Readily adapt to change and shifting priorities
- Define the team structure required to service the clients and implement
- Demonstrate accountability for the output of the Unit
- Be seen as a leader in pursuing initiatives and managing the change process
- Improve the level of engagement and interaction with clients evidenced by increased Client satisfaction scores
- Effectively manage headcount numbers and ensure diversity, mobility and training is fostered within the team including FWA.
- Ensure effective communication cascade through weekly management and team meetings
- Ensure recognition of success when goals are achieved
- Ensure succession planning by actively participating in talent assessments and development planning for each role
- Number of incidents for the current year must be a reduction on the prior year
- Monitor MIS and incident reporting requirements
- Adoption of analytical tools used to transform the way staff review client deliverables
- Ensure Operating Expenses do not exceed forecast Full Year Direct Expense
Experience, Qualifications, Skills and Abilities
- Taxation Technical and Regulatory reporting experience for a broad range of investment types including alternative assets or custodian servicing superannuation clients
- Minimum 8 years of work experience in accounting, legal, financial markets, custody or other relevant work area
- Completed CPA or CA or other relevant qualification
- Strong accounting standards and its application to investment funds, including the ability to answer client and external auditor/advisor’s queries with minimal assistance
- Strong time management and communication skills both written and verbal. Ability to effectively communicate on all levels.
- Ability to work under pressure to meet varying deadlines and work volumes
- Strong management and leadership skills and the ability to work in a team environment
- Strong project management skills or experience
- Confident in making decisions autonomously and taking initiative
- Experience in leading a successful team