Vice President of Product Finance

2 weeks ago

Boston, Massachusetts, United States State Street Full time

Who we are seeking

The ideal candidate will serve as the financial partner to the Chief Financial Officer of the Product Office, tasked with shaping and executing the comprehensive financial strategy. This includes overseeing monthly performance, strategic planning, budgeting, financial forecasting, and management reporting, including Quarterly Business Reviews. The role involves collaboration with global Business Unit Finance, Financial Planning & Analytics (FP&A), and Controlling teams. Additionally, this position will spearhead revenue enhancement and productivity initiatives, refine standard financial operations, and contribute to deal integration efforts. The position reports directly to the CFO and requires close partnership with senior business leaders and CFOs throughout the organization, focusing on critical initiatives and opportunities as assigned.

Importance of this role

The team you will join is pivotal to the success of State Street. Institutional investors worldwide depend on our expertise to manage risk, tackle challenges, and enhance performance and profitability. To achieve these goals, we require teams like yours to guide employees and the organization effectively. In this role, you will pursue innovative solutions that are both efficient and scalable, helping us build resilience and deliver exceptional results consistently. Join us if you are ready to make a significant impact in the financial services sector from the outset.

In this role, you will collaborate with Product leaders globally, including:

  • Overseeing the forecasting and budgeting processes, financial reporting, and business planning
  • Managing business unit CFOs and FP&A teams to achieve set objectives
  • Enhancing the creation and management of Product Profit and Loss statements

Key Responsibilities:

  • Facilitate discussions with the Chief Product Officer (EVP), Product heads, and their leadership teams to comprehend financials, optimize expenditures, and meet targets.
  • Deliver value-added financial services including planning, budgeting, analytics, financial metrics, and expense management.

Budget and Forecast Management

  • Take ownership of the entire budget and forecast process for the Product Office; assist in building budgets and forecasts while guiding functions to make informed decisions amidst complex challenges.
  • Collaborate with finance and functional partners on all process aspects, including detailed headcount projections and compensation specifics.
  • Challenge assumptions to ensure optimization of projections.
  • Prepare comprehensive narratives, draft commentary, and create presentation materials for various meetings, including key committees and quarterly reviews.
  • Lead special projects aimed at enhancing transparency for management, driving initiatives to completion while overcoming obstacles, and motivating team members to achieve objectives.
  • Conduct ad hoc analyses and develop business cases to assess the financial impact of strategic actions.
  • Mentor and guide team members across global locations, emphasizing the importance of collaboration with a remote team.
  • Maintain effective relationships with stakeholders including Accounting, FP&A teams, and functional leads, ensuring transparent and consistent communication.

Managerial Responsibilities

  • Maintain a thorough understanding of the managerial responsibilities associated with this role and the competencies of the staff under your supervision.
  • Ensure that Finance staff clearly understand their reporting lines, authority levels, responsibilities, objectives, and training requirements.
  • Foster effective working relationships and communication with staff, ensuring they are motivated, developed, and supported.
  • Establish and monitor an effective oversight framework to identify, escalate, and resolve issues appropriately.
  • Promote a culture of 'Risk Excellence' within the team, encouraging openness and constructive challenges.
  • Make informed decisions by exercising due diligence when considering available information.
  • Cultivate a culture of individual accountability among staff members.
  • Uphold the highest standards of the Code of Conduct in your behavior and that of your team.

What we value

The following skills will contribute to your success in this position:

  • Strong executive presence and the ability to build relationships with key stakeholders across various organizations and regions.
  • Proficient verbal and written communication skills, along with effective presentation abilities.
  • Excellent execution, collaboration, and strategic thinking skills.
  • Commitment to employee development and engagement, with the ability to nurture the next generation of Business Unit Finance talent.
  • A strong work ethic, analytical mindset, and a proactive approach to achieving results.

Education & Preferred Qualifications

  • Innovative leader with experience in finance and accounting organizations.
  • Extensive Finance & Accounting leadership experience, with a minimum of 10 years in the field.
  • Experience in the Financial Services sector is preferred.
  • Proven experience managing teams within large, complex organizations.
  • Significant experience overseeing business planning and budgeting processes.
  • Experience managing the reporting process effectively.
  • Proficiency in Excel and PowerPoint is essential.
  • An MBA is advantageous.
  • A background in strategy or consulting is also beneficial.

About State Street

Our Mission. State Street is among the largest custodian banks, asset managers, and asset intelligence firms globally. We are committed to making a significant impact in the financial services industry through technology and product innovation. For over two centuries, we have been dedicated to safeguarding and managing the investments of millions. Our services include investment servicing, data & analytics, investment research & trading, and investment management for institutional clients.

Work, Live, and Grow. We strive to create an exceptional work environment. Our benefits packages are competitive and comprehensive, offering generous medical care, insurance, and savings plans, among other perks. We provide flexible work programs to accommodate your needs and a wealth of development programs and educational support to help you reach your full potential.

Inclusion, Diversity, and Social Responsibility. We believe that our employees' diverse backgrounds, experiences, and perspectives are vital to fostering an inclusive environment where everyone can thrive. We welcome candidates from all walks of life, and we are committed to active engagement with our communities worldwide. Our employees have access to tools that help balance their professional and personal lives, including paid volunteer days and matching gift programs.

State Street is an equal opportunity and affirmative action employer.

Discover more about us.

Salary Range:

$100,000 - $167,500 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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