Head of Prime Services Operations, Managing Director

STATE STREET CORPORATION; Mumbai; On-site; INR 6,000,000 - 11,000,000; Full time

Job summary

State Street Corporation seeks a seasoned leader for Prime Services Operations, overseeing a global team of 50+ professionals across India, Hong Kong, London, and Boston. You will shape a transformation roadmap, modernize technology, and ensure robust risk and controls while maintaining day-to-day execution and client service.

The role reports to the SVP, Global Head of Financing and Portfolio Solutions Operations, with base options in Mumbai, Bangalore, or Hyderabad.

Qualifications

• Must have 20+ years of experience in financial services operations, with focus on Prime Services.
• Strong risk and control mindset with regulatory and operational risk management experience.
• Experience leading transformation initiatives, including process optimization and technology modernization.

Responsibilities

• Lead a global organization of 50+ professionals across Prime Services Operations.
• Oversee end-to-end Prime Services platform: loan/return transactions, trade capture, settlement, reconciling, billing.
• Drive modernization, automation, and scalable future-state capabilities with Technology and Risk partners.
• Ensure audit-readiness, regulatory compliance, and strong risk controls across regions.

Skills

Leadership

Stakeholder management

Transformation

Prime Services knowledge

Education

Bachelor’s degree in finance/economics/business

Postgraduate qualification advantageous

Job description

Who are we looking for

We are looking for an industry leader with hands‑on experience in Prime Operations within a Markets business. You understand what great looks like in a global operations organization and have deep knowledge of the functions that support Prime Services across the trade lifecycle. You combine strong operational expertise with executive presence, excellent communication and stakeholder management skills, and a proven ability to influence, lead through change and resolve complex challenges.

This is a key leadership role responsible for overseeing a global team of approximately 50 professionals across India, Hong Kong, London, and Boston, providing operational support for Prime Services borrowing and lending activities, including settlement, collateral management, reconciliations, billing, and corporate action processing.

You will lead the organization through the complexity of a large-scale global operation, ensuring accurate trade processing, effective collateralization, robust risk management, regulatory compliance, and seamless day‑to‑day execution.

You will work closely with business, technology, risk, and control partners to drive innovation across processes and systems, enhancing efficiency, scalability, and risk management while ensuring operational solutions remain aligned with State Street's strategic objectives, industry best practices, and evolving market needs.

A significant part of your mandate will be the transformation of the function. You will have the opportunity to help shape the future operating model, modernize the technology infrastructure, and drive initiatives that reduce risk, improve efficiency, and accelerate speed to market.

Success in this role will require balancing long-term transformation with an unwavering focus on day‑to‑day execution and client service.

The role can be based in Mumbai, Bangalore, or Hyderabad and reports directly to the SVP, Global Head of Financing and Portfolio Solutions Operations.

Why this role is important to us

The team you will be joining is a part of State Street Markets (SSM). As a leading provider of trading and lending solutions to the world’s institutional investors, we deliver the industry’s most innovative platforms, financing and portfolio solutions. Our capabilities are backed by proprietary, high‑value research, insights and indicators that power clients’ investment decisions, accelerate performance and help investors stay ahead of shifting markets.

Across our comprehensive set of solutions – data‑driven macro market intelligence that give an information advantage; client‑first platforms and tools that redefine trading; financing solutions that streamline liquidity access; and portfolio solutions designed to help achieve peak performance – we deliver a breakthrough edge to drive business success.

As one of the largest and most experienced providers of financing and portfolio solutions in the industry, we provide investors with market‑leading expertise, technology and scale to accelerate decision making, enhance performance and unlock efficiencies across the entire trade lifecycle.

We are in the midst of a significant transformation as we modernize our technology architecture and transition from legacy platforms to a more scalable, future‑state environment.

The processes and functions that support our Prime Services business are critical to the success of State Street Markets and operate at significant scale and complexity.

This transformation presents a unique opportunity to help redesign and optimize key workflows, driving greater automation, efficiency and resiliency across the business.

As one of the largest businesses within Markets, and one of the world's leading agent lenders, we provide the scale, visibility and impact to shape the future of a market‑leading franchise.

What you will be responsible for

• Lead a global organization of 50+ professionals across Prime Services Operations, driving consistent service delivery, strong governance, operational resilience, and a culture of excellence across regions, while attracting, developing, and retaining top talent and building a strong leadership pipeline for the future.
• Own the end‑to‑end Prime Services operating platform, overseeing loan and return transactions, trade capture, confirmations, settlement, clearing, reconciliation, cash movements, and the full trade lifecycle, including cash dividends, corporate actions, and monthly billing.
• Provide strategic leadership across Prime Services collateral operations, overseeing financing and collateralization frameworks, margin management, collateral optimization, dispute resolution, and intraday and end‑of‑day sufficiency monitoring, while driving efficient use of collateral across funding, risk, and trading activities.
• Shape the future of Prime Services Operations by leading a significant transformation and modernization agenda.
• Working closely with Technology, Business, and Risk partners, you will help design and deliver scalable, automated future‑state capabilities while optimizing the operating model and cost base to support growth, efficiency, and global consistency.
• Champion a best‑in‑class risk and control environment, proactively identifying and mitigating operational, settlement, and counterparty risks, strengthening controls and operational resilience, and ensuring timely and effective management of incidents, remediation activities, and escalations.
• Ensure the organization remains audit‑ready and regulatory compliant, maintaining adherence to applicable regulations, internal policies, and industry standards while supporting regulatory reporting, Data Governance, Model Risk initiatives, and evolving market and regulatory requirements.
• Serve as a trusted partner to senior stakeholders across Front Office, Custody, Risk/ERM, Compliance, and Technology, acting as a key escalation point and helping align operational priorities with business growth, client needs, and risk management objectives.
• Manage critical external relationships with counterparties, custodians, clearing agents, vendors, and technology partners, ensuring high‑quality service delivery, strong commercial outcomes, effective oversight of third‑party providers, and appropriate management of cyber and operational risks.

Education & Preferred Qualifications

• Bachelor’s degree in finance, economics, business, or related field is preferred.
• A postgraduate/professional qualification is advantageous.
• 20+ years of experience in financial services operations, with focus on Prime Services and principal trading.
• Strong understanding of Prime Services products and processes (e.g., trade lifecycle management/settlement/collateral, corporate actions, vendors).
• Proven track record of strengthening risk and control environments and managing regulatory and operational risk.
• Experience leading transformation initiatives, including process optimization, automation, and technology modernization.
• Strong stakeholder management and influencing skills, with the ability to build effective partnerships across business, operations, technology, and corporate functions.
• Strategic thinker with a proven change management mindset and experience driving large‑scale initiatives.

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.

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.

CEO Statement

Read our CEO Statement

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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