Product Strategy, FCM / Futures Clearing Specialist - Vice President
Product Strategy, FCM / Futures Clearing Specialist - Vice President
Why this role is important to us
The team you will be joining is a part of State Street Markets (SSM). The Execution, Financing, and Clearing (EFC) franchise which includes SSM’s Secured Financing, Prime Services, and Agency Lending business lines - provides a spectrum of secured financing and cash investment solutions to the buyside community. Our Product Strategy team, in alignment with business team leads, drives new product design and development critical to implementing our client-focused solution set and strategic roadmap. Building on this franchise, SSM is establishing a Futures Commission Merchant (FCM) to execute and clear listed futures and options. This VP role has been created specifically to support the design, development, and implementation of SSM’s broader FCM strategy.
What you will be responsible for
As a Product Strategy FCM / Futures Clearing Specialist, VP, you will be responsible for developing product strategy, delivering new products, managing regulatory change and providing solutions to our existing clients and pipeline of new clients. The EFC Product Strategy team operates in a fast-paced environment to drive the design, development, and implementation of new or enhanced product offerings across the EFC suite of businesses. The team works hand-in-hand with the Trading, Operations, Relationship Management, Legal, Risk, Finance, Regulatory, Compliance and Technology functions to represent EFC’s products as subject matter experts and ensure all perspectives have been considered and incorporated. Our business operates in a competitive market landscape, and we measure our success by the pace, quality, and amount of new product implementations we bring to market.
Responsibilities
- Drive product development efforts by collaborating with cross-functional teams to clearly define, design and implement solutions and operating models for complex initiatives, focusing on SSM’s FCM strategy, inclusive of execution and futures clearing, broker-dealer products, and cross-margining capabilities
- Partner with colleagues to identify opportunities to enhance EFC’s product set to promote efficiency, alignment to client needs, and industry trends
- Serve as subject matter expert for EFC’s FCM / Futures Clearing product to assist teams in understanding and successfully delivering client solutions
- Stay abreast of industry developments and represent EFC in industry and client discussions related to clearing, cross-margining, risk / regulatory concepts, and other pertinent topics relevant to an FCM and/or broker-dealer
What we value
- Strong, well-rounded understanding of listed futures and options, FCM / futures execution and clearing mechanics, and cross-product margining
- Ability to lead, prioritize and execute multiple simultaneous priorities and initiatives in defined timeframes
- Intellectual curiosity and creativity combined with orientation to detail; keen ability to distil complex concepts for varied audiences
- Entrepreneurial and self-directed - operates as an owner
Education & Preferred Qualifications
- +10 years of experience in financial services, with direct experience driving product enhancement at an FCM broker-dealer covering listed futures and options, FCM / futures execution and clearing mechanics, and cross-product margining
- Familiarity with industry-standard IT and risk vendor solutions used by FCMs and/or broker-dealers to support execution and clearing
- A strong understanding of FCM registration and the associated regulatory framework (CFTC/NFA, exchange and clearinghouse membership requirements, customer protection and segregation frameworks, etc.)
- Familiarity with FICC-cleared repo indirect access models is preferred
Salary Range:
$120,000 - $225,000 AnnualThe 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.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.
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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