Who we are looking for

Within the Chief Commercial Officer organization of State Street Bank International (SSBI), the Head of the Depositary Services Germany is responsible for all aspects of the depositary accounting services activity for regulated and non-regulated funds domiciled in Germany: I.e. NAV Oversight, Cash Monitoring, Outsourcing & Delegation Oversight.

The position ensures regulatory compliance, operational excellence, and strategic alignment with SSBI’s global objectives. The role requires strong leadership, regulatory knowledge, and cross-functional coordination to support the delivery of depositary services to Swiss-domiciled regulated funds.

The managed team is composed of 55 employees based in Germany across Munich and Frankfurt. The activity is supported by circa 80 employees 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 Services 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 the Head of Depositary Controls and 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.

Reporting to the Head of Depositary Bank Operations, the positions requires the execution of a number of managerial activities leveraging on the back of a solid experience in the depositary services sector.

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

As a Head of Depositary Services Germany, you will look after:

• oversight of day to day operations of the department
• collaborations and interactions with Custody Management Services, Fund Accounting and KVG operations
• 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
• contribution to the on-going Transformation, a multi-year program aiming at rationalizing operations and systems of the Depositary Bank activity at European level to enhance clients experience, realize synergies to on-board new business at a lower costs while ensuring and improving, where needed, the adequate regulatory posture specifically with respect to Transformation, lead on ensuring the depositary operating model for Germany is fit to deliver the current and future client needs at the right cost and to ensure the technology model proposed meets current and future client, operational, and resiliency needs
• direct interaction with clients to manage operational challenges, emerging issues and develop relationship

What we value

These skills will help you succeed in this role

• Ability to use data / information to take decision on strategic developments of the activity, obtain support for investments and manage risk
• Adopt a risk based approach to ensure proper management of the day to day operations
• Strong organizational skills and ability to manage multiple operational teams spread across different locations in a global environment serving local and global clients
• Excellent communication and management skills
• Service-oriented and results-focused
• Ability to work autonomously and to take ownership
• Change orientated and ability to envision a future state for the department

Education & Preferred Qualifications

• Minimum of 10-15 years professional experience in financial business services
• Knowledge of German and EU regulations surrounding banking, depositary and securities services

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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