Core Operations - Senior Manager

Overview

Support the end-to-end business analysis, deployment and operational transition of the Direct Custody model for Italy, France, Belgium, the Netherlands, Germany and other T2S markets, as a business analyst within the Direct Custody Business Design & Deployment team.

What you'll do

• Analyse market rules, clients, transaction volumes, operating locations and service requirements across Italy, France, Belgium, the Netherlands, Germany and associated non-direct routes.
• Gather and analyse requirements for the different client archetypes and local market participants.
• Document operational requirements for Cash & Securities Account structures.
• Review existing roles and responsibilities and identify functional, process, control and ownership deltas against the target Direct Custody model.
• Support the design and documentation of target-state processes aligned to State Street capabilities and the Direct Custody Target Operating Model across settlement, cash and liquidity, corporate actions, income, reconciliation and client servicing.
• Prepare process flows for T2S direct markets, including Euronext Securities Milan, Clearstream Banking Frankfurt and ESES markets, and document interfaces with non-direct or sub-custodian routes.
• Support definition of operating models for traditional OTC activity, ONEX flows, and applicable settlement or netting types.
• Identify process dependencies, hand-offs, exception ownership, service-level requirements and escalation paths across internal and external parties.
• Gather and document requirements, operating controls and design considerations for market specifics such as auto-collateralisation, auto-borrowing, French registration and deregistration and corresponding market notifications.
• Gather and document requirements, operating controls and design considerations for client specifics such as pool creation and specialised Hold & Release processing, including control points, eligibility logic and operational ownership.
• Support portfolio-transfer analysis and documentation of market-specific position reflection or rebuild requirements.
• Prepare and maintain business requirements, user stories, process maps, functional clarifications and traceability across business, technology and vendor deliverables.
• Analyse vendor and application capabilities, document functional and integration gaps, and support definition of remediation or target-state solutions.
• Partner with Technology and vendors to document interface requirements, data mapping, messaging, workflow and exception-management capabilities.
• Review vendor Functional Solution Documents, record comments and gaps, and support senior business approval of the proposed design.
• Maintain scope, dependency, decision, action and issue logs, with clear impact assessment and timely escalation to workstream leads.
• Develop detailed test scenarios and test cases covering standard processing, client/market variants, exceptions, controls and end-to-end integration.
• Execute or coordinate system integration testing, market testing and user acceptance testing, including defect logging, remediation validation, retesting and regression testing.
• Maintain business-readiness assessments across operating procedures, staffing, access, static data, connectivity, controls, reporting and contingency arrangements.
• Prepare evidence and status reporting to support go-live and client-conversion decisions, risk assessment and stakeholder sign-off.
• Support implementation, stabilisation and structured handover into the Direct Custody BAU organisation.
• Document risk, compliance and governance requirements within the target operating model and solution deliverables.
• Support operational resilience and business-continuity readiness, including critical process documentation, recovery requirements and BCP knowledge transfer.
• Assist with business-function, control and organisational-framework setup, risk assessments and evidence requirements.
• Coordinate access, security and identity-governance requirements, including role mapping, approvals and segregation-of-duties evidence.
• Track regulatory, market-infrastructure and connectivity requirements through to closure before implementation.
• Review existing procedures and Business Process Maps to determine applicability and gaps for new Direct Custody functions.
• Draft and maintain market- and application-specific SOPs, control procedures, operating guides and process documentation aligned to the Target Operating Model.
• Prepare and support delivery of training on market structures, applications, operating processes, exceptions and controls for implementation, BAU and BCP teams.
• Support structured handover, cross-training and maintenance of reusable artefacts for future Direct Custody market launches.
• Coordinate assigned activities and provide analytical, documentation and subject-matter support to senior workstream leads and project resources.
• Partner across Product, Operations, Technology, vendors, Market Agents, Risk, Compliance, Client Service and other internal stakeholders.
• Prepare workshop materials, capture requirements, decisions and actions, and communicate operational matters clearly to stakeholders.
• Escalate business-design and readiness issues promptly, ensuring risks, dependencies and decisions are transparent and tracked to resolution.
• Promote standardisation, automation, operational resilience and continuous improvement across the regional and global Direct Custody operating model.
• Build and maintain implementation dashboards covering requirements, design decisions, gaps, testing, defects, controls, training and operational-readiness milestones.
• Produce concise workstream reporting on progress, risks, dependencies, decisions, remediation actions and readiness status.
• Support capacity, footprint and workforce planning for phased market delivery and transition into BAU operations.
• Use defect, exception and post-implementation metrics to support root-cause analysis and identify opportunities for control enhancement, process standardisation and automation.

What you'll need

• Bachelor's degree in finance, Accounting, Business, Technology or a related discipline.
• Typically 6-9 years of experience in securities services, custody, post-trade operations, business analysis, testing or transformation delivery.
• Good knowledge of securities settlement and familiarity with cash and liquidity, reconciliation, corporate actions and income processes within a global custody or direct custody environment.
• Practical understanding of T2S, European CSD/ICSD models, Dedicated Cash Accounts, settlement messaging, market cut-offs and exception management.
• Experience producing business requirements, user stories, process maps, test scenarios, test evidence, SOPs, training materials and project reporting.
• Experience supporting vendor engagement, application assessment, testing, implementation readiness, risk and control activities, and operational handover.
• Strong analytical, communication, documentation and stakeholder-coordination skills, with the ability to convert complex market requirements into clear and implementable deliverables.

Nice to have

• A Master's degree, MBA or relevant professional qualification.
• Working knowledge of SWIFT settlement and cash messaging and ISO 20022.

Details

• Location: Mumbai, India.