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Boston, Massachusetts - USD Full Time Posted: Sunday, 13 August 2017
 
 
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.

Our promise to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It's also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You'll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Join us.

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Job Description

The Global SPDR Head of Product is responsible for ensuring effectiveness and consistency across 4 critical dimensions of the Global SPDR Product Spectrum:

* Product Strategy - incorporating product research, design, feasibility and development.

* Product Development - from build through to launch.

* Product Lifecycle & Range Management - ensuring existing products on the Global SPDR shelf are fit for purpose consistent with client and market requirements.

* Product Advocacy - product positioning narrative - in partnership with Distribution and Investments (Sales, Sales Strategy, Marketing, Investments)

These responsibilities apply in relation to both SSGA manufactured investment content and outsourced content secured via Third Party Partnerships (eg DoubleLine.

The role holder will require detailed subject matter expertise across all aspects of the Global SPDR eco system, product set and operating platform.

The role will have substantial partnership interactions with other functions across SSGA and SSB including Legal, Risk, Compliance, IT, Funds Management, Finance, and Operations.

The role is Global in scope and thus some individuals working in the Global SPDR Product function may/will have dual line reporting responsibilities as required.

A critical requirement is that the holder of this role will need to be highly effective at threading and bringing together the component elements of the SSGA and SSB shared service organisation to deliver a seamless interaction and client experience to our clients.

The Global SPDR Head of Product is a member of the Global SPDR Leadership team.

Leadership, Talent management

* Lead and develop a high performing team consistent with SSGA/SPDR high performing culture.

Product Strategy

* Develop 3 to 5 year SPDR product and pricing strategy road map and related strategic logic

* Develop meaningful KPIs that reflect overall mission.

Competitive trends

* Work with ETF Strategy & Planning team to evaluate competitor trends, new launches, pricing dynamics and related impact on existing and future products.

* Develop and recommend strategies to adapt to changes in competitive landscape

Global Product Pricing - Strategy & Consistency

* Develop strategic framework and related rationale for Product Pricing

* Partner with Distribution leadership to develop Product pricing recommendations

* Proactively monitor product pricing and related market competitive positioning

* Decision Rights - Accountable executive for pricing recommendations for the Global SPDR business.

Third party partnerships

* Develop strategic plan and related economic rationale governing third party partnerships

* Develop and drive internal SSGA decision making framework for Third Party relationships across internal stakeholders (SSGA Investments, State Street, others)

* Own and manage relationship with key third parties in relation to SPDR ETF Partnerships

Industry Bodies

* Represent Global SPDR on Industry Forums as they relate to ETF product development initiatives.

Regulatory

* Represent Global SPDR to International Regulators on matters relating to Product Development (in partnership with Global Compliance as relationship owner)

Product Development

* Launch and maintain a fit for purpose product range that aligns with investor/market requirements and can be delivered and managed on a commercial basis by global SPDR

* Lead and deliver all aspects of ETF product development in Americas, EMEA and Asia Pacific

* Ensure full and robust business cases are in place for all product initiatives

* Partner with Distribution leadership to accurately assess and forecast client demand via a structured 'demand read'.

* Success of a product launch would be measured in terms of:

* Successfully getting the new product on the shelf

* Successfully gathering the forecast AUM at time of launch on a 3 year view

* Partner with SSGA Global product function to ensure product ideas are appropriately progressed through SSGA governance structures (NAPC, GPC, SEAC)

* Partner with Internal SSGA partners (legal, risk, funds management, other) to effectively deliver new products in time consistent with client and regulatory requirements

Product Lifecycle & Range Management

* Develop diagnostic tools to track and monitor product competitiveness and profitability and ensure appropriate decision making framework and governance is in place

* Proactively engage with and drive actions and solutions as required (eg pricing, positioning, structure, so forth)

* Develop strategic narrative and related plans for product closure as required

* Decision Rights - the role holder will be the accountable executive for ensuring that the range of products on the Global SPDR shelf is 'fit for purpose' in terms of meeting market/investor requirements and Global SPDR economic aspiration

Seed capital

* Partner with SPDR Capital Markets team in sourcing and managing seed capital as it relates to ETF Product launches

* Partner with SPDR Capital Markets in developing specific metrics and KPIs for this activity

* Decision Rights - responsibility for managing commercial effectiveness of seed program, including decisions as to when to close funds that fail to recycle initial seed.

Index Provider relationship management

* Develop strategic engagement plan with index license vendors and advance strategic SPDR agenda.

* Commercial owner of these relationships [eg MSCI, S&P, FTSE Russell, STOXX, others]

Board Coordination and Funds Management

* Work in partnership with Funds Management team to represent product development and range management plans to the respective Funds boards

* Ultimate responsibility for ensuring all SPDR products are working as they should and in line with terms and conditions prescribed in prospectuses, regulatory requirements and so forth.

* This element of the role would see the Global SPDR Head of Product having decision rights on SPDR products and line of sight on an end to end basis leveraging dedicated resources in the Funds Management centre of excellence.

Product Advocacy

* Champion product attributes and competitive positioning in the ETF marketplace (in partnership with Distribution Sales Strategy team and CIO Investment teams)

* Develop positioning narrative/investment rationale

* Partner with Distribution (Marketing and Sales) to position narrative/investment narrative effectively in the marketplace

* Partner with Distribution to establish feedback on product competitiveness to inform advocacy and lifecycle/range management decisions

Risk excellence

* Partner with SPDR Global COO and other stakeholders to assess risks associated with potential new product launches both at launch and ongoing and ensure compliance with firm-wide risk appetite and associated risk management.

Internal SSGA Partnerships

* Drive stakeholder and organizational alignment to reach agreement on product priorities, business strategy and associated decision making.

* Develop constructive and productive working relationships with internal partners and stakeholders

Qualifications

The successful candidate will possess an outstanding track record of success as a Senior Product Professional at a major asset management organization (or equivalent). The ideal candidate will have:

* Strong Product Development and/or Investment experience in the asset management industry of 15 years+

* Detailed knowledge of the Global ETF industry and its related eco system.

* Proven experience as a leader in recruiting, leading and mentoring a team of high performing talent in a Product development and management environment

* Comprehensive understanding of investment management, tax, structuring, regulatory and operational requirements related to successful ETF product launches and ongoing range management.

* Proven ability to develop and execute successfully on strategic product development plans

* Strong partnership and affiliation skills and proven ability to deploy influencing skills to achieve superior outcomes

* Decisive, Knows what 'good looks like' and will aim to build and deliver same at Global SPDR

* Sufficient Gravitas and Confidence to provide 'challenge' as appropriate

* Degree qualified or equivalent with a financial or analytical discipline preferred.

* MBA or CFA an advantage

Personal Profile

* Track record - Broad understanding of investment management, regulatory, tax, and operational requirements related to ETF product design and commercial success. Track record of success on same
..... click apply for full job details

Boston, Massachusetts, United States of America
Finance
USD
State Street Global Advisors
State Street Global Advisors
JS2124_3F1FC23202CB9706544C39D1263C368B_228_I/257160886
8/13/2017 4:55:45 AM

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