The Global Product Team is responsible for defining and executing the firm’s strategic product roadmap globally across the institutional (including Defined Contribution), ETF, Cash and Global Fiduciary Services franchises. Global Product is responsible for the design, launch, enhancement and optimization of all products lines and strategies (including commingled vehicles, Separately Managed Accounts, ETFs, relevant third-party sub-advised/sponsored products) and platforms used to commercialize our investment capabilities through our distribution channels and client segments.
The Head of Product Development [North America] will lead a team of Product Developers in the region. Product Development is a critical part of any organization’s Product DNA and it involves several all-encompassing aspects including creating, launching, enhancing and optimizing our product line up. It is also responsible for the complete life-cycle management of products as well as evaluating the profitability of our entire range by strategy, fund type, capability, etc. Product Development will be responsible for the full business management of special initiatives/projects end-to-end and ensuring that we own and report on the progress of such initiatives to senior management. This key function is also responsible for managing and constantly improving our product governance processes to ensure there is rigor while bringing efficiency and speed to market. Product Development works collaboratively with Product Strategy to build consensus with key stakeholders across Institutional and SPDR businesses on product priorities, and develop and execute a regional product roadmap. In addition these functions will partner closely with key stakeholders and engage with regulators to explore the impact of evolving and new regulations on our product line up.
Why this role is important to us
The team you will be joining is a part of State Street Global Advisors, one of the largest asset managers in the world. We partner with many of the world’s largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment process. With over four decades of experience and trillions of dollars in assets under management, we offer one of the broadest selections of services across asset classes, risk profiles, regions and styles. As pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest.
Join us if making your mark in the asset management industry from day one is a challenge you are up for.
What you will be responsible for
- Responsible for product development and implementation in the North American region
- Full Lifecycle management of our fund range across institutional and ETF product lines (including Mutual funds, ETFs, Collective Funds, SMAs etc.)
- Manage process and key stakeholders on product amendments including disclosures, pricing, product attribute changes and all associated downstream impact
- Evaluate the profitability of the entire product range and recommend optimization opportunities including closure where needed
- Work closely with Product Strategy, Investments and Distribution to launch products and Separately Managed Accounts (SMAs)
- Manage our full book of products and SMAs for growth opportunity and potential closure where sub-scale/unprofitable
- Lead regulatory initiatives that have impact on our Product range and assess whether products need to be altered/remediated for governance and commerciality
- Manage fund complexes in line with ESG regulatory requirements as needed
- Offer “fresh perspectives/thinking” to lead product governance – Product Committee, reporting to Boards and other internal governance bodies and enhance/optimize the process to shorten launch/closure timeline
- Maintain a high level of communication with investment teams and regional distribution leaders to ensure product development needs and timelines are met
- Lead special projects that require end-to-end mapping of products to tech requirements, enhancement of business and product processes
- Provide senior management reporting on various Product-related initiatives
- Manage, train and develop a team of regional product developers
Knowledge and Skills Required
- 10+ years of experience within product development, product management, business management, operational/implementation role with demonstrable track record of delivering successful outcomes
- Strong business management skills and financial knowledge to deliver well documented product development proposals
- Broad knowledge across equities, fixed income, commodities, currencies, alternatives across index and active approaches
- Good understanding of key stakeholders within SSGA and STT to ensure successful delivery of cross-collaboration opportunities
- Experience working with varied vehicle types and a deep understanding of applicable vehicles and regulations in specific jurisdictions
- Understanding of evolving US ESG landscape and aspects of product, regulation, competitor approaches, and client needs that have an impact on our product line up
- Strong knowledge of the asset management industry including investors types, distribution channels
- Strong understanding of pooled product structures including Collective Trusts, Mutual Funds, ETFs, interval funds, and other alternative formats
- Knowledge of market evolution and structural reform impacting product development
- Deep understanding of the regulatory framework and changes thereof and its impact on our investment funds in North America and impact on our existing and new product plans while leveraging positive opportunities
- Holds or studying towards CFA highly desirable
Additional requirements
- Highly solution-oriented mindset
- Strong leadership experience in training, motivating and building a strong team
- Partnership/collaborative approach to fast track alignment and decision making
- Demonstrable track record of delivering projects/products/vehicles speedily and experience with regulators and governance bodies to amend documentation as needed
- Strong project management experience, delivery focused, driven, with high level of resilience
- Excellent communication skills, including ability to negotiate with and influence senior management and fund boards
- Excellent presentation skills including an ability to clearly articulate complex concepts and ideas to a senior audience in a clear and concise manner
- Advanced skills in Microsoft Excel, Powerpoint, Morningstar, Lipper, Bloomberg, Factset, eVestment
- We require a Bachelors Degree
- Advanced/Masters Degree in Finance, Business or other related field is a plus
Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.
About State Street Global Advisors
What We Do. As the asset management arm of State Street Corporation, State Street Global Advisors has served the world’s governments, institutions and financial advisors for over four decades. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become one of the world’s largest asset managers with trillions of dollars under our care.
Our Mission. At State Street Global Advisors our mission is to invest responsibly to enable economic prosperity and social progress. We are driven by a desire to help our clients, and those who rely on them, achieve a better future. We have a long history of developing innovative investment strategies to provide our clients with reliable and transparent returns, cost-effectively, and without excessive risk.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to Flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Company: State Street Global Advisors
Salary Range: $170,000 - $267,500 Annual
The 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.
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