Claims Management - Officer

Job Description- Officer, Claims Management - Band 400

Location - Bangalore

Who we are looking for

The team provides operational support to global clients across regions like APAC, EMEA and North America. Role comprises managing day to day operations, address queries/escalations, people management, stakeholder management, driving simplification and efficiency creation initiatives etc. The current team is across multiple locations, i.e., Bangalore, Hyderabad and Pune.

In this role as an Officer – Claims Utility, you will work with State Street teams from around the globe to manage multiple large scale and demanding international clients. You will are expected to oversee and deliver all day-to-day responsibilities of your teams in a fast-paced, flexible and exciting environment. Act as an SME for the team & ideate automation opportunities. Working experience in projects, optional areas like AI, robotics and similar tools will be an added advantage.

The role will need good communication and interpersonal relationships with operation, technology, counterparties and client relationship teams to ensure we maintain the high level of service that is currently being provided to these clients.

You will be working closely with Clients, brokers, custodians, various internal teams and other third parties. Timely investigation and escalation of claims is critical. In addition, this involves close liaison with cross functional global teams including Corporate Actions, Trade Support and Custody, as well as the client Middle Office teams.

The candidate will also be responsible for participation in all governance related activity in accordance with standard operating procedure to both ensure and then review the provision of timely and accurate KPI, OKRs and general MIS measured against established SLA criteria.

Responsibilities will also include effective regular review meetings and statistical reporting to both internal senior management and externally to the client.

What you will be responsible for

• Review and validation of claims initiated and received.
• Adherence to market driven deadlines.
• Ensuring meeting or exceeding agreed SLAs
• Responsible to identify & review Key process risk indicators and deliverables. Result-oriented with an ownership and accountability mindset
• Time to time review of key SLA’s and service transitions in a regular set frequency
• Responsible to develop working relationships & interaction with Onshore management, Client Ops teams and the market participants (Counterparties & Custodians)
• Periodic audits, regulatory & risk reviews
• Understand the control environment & ensure adherence to controls
• Ability to manage process risk, we work in, and have a desire to meet our clients demands are key, as is a drive to develop an agile and diverse workforce
• Maintain & further strengthen the onshore & offshore relationship.
• Actively participate in key projects pertaining to automation, transition, process improvements, onboarding new technology, standardization etc.
• Working in US hours primarily, at the same time be flexible for APAC or EMEA related work preferred to have an overlap with all teams and key stakeholder to maintain a close connect with directs & the team
• Adherence to escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively
• Support new business onboarding, change management and strategic business initiatives utilizing sound program and project management skills.
• Result-oriented with an ownership and accountability mindset
• Ensure that the highest level of the Code of Conduct is displayed in your own and staff behavior.
• Strong financial and business acumen to drive financial improvement across multiple functional disciplines. Assist with the development and maintenance of Business Operations (BAU) and project budgets. Drive Unit Cost Improvement through analysis and optimization.
• Act as an extension of our client service model ensuring seamless service delivery across Business Operations for our clients
• Identify opportunities for process improvement and process efficiency. Key participation in strategic projects and initiatives as representative of the team.
• Demonstrate excellent risk management awareness and ability to communicate effectively with management for risk events and exposures which may result / pose financial or reputational risk to State Street or our client base.
• Embed risk excellence culture across the teams
• Drive pay for performance and culture of performance differentiation

What we value

These skills will help you succeed in this role

• Hands on experience of operations for variety of financial products and custody, both knowledge of MO and BO processing will be an added advantage.
• Focus on client outcomes, problem solving, cooperating and communicating clearly and effectively
• Profile with experience in Trade lifecycle Management, Cash management/ compensation and reconciliation
• Working knowledge of claims (TMPG, CSDR, Overdrafts, Debit Interest etc)
• Client centric attitude in managing, prioritizing and delivering operations and services
• External market connects (Brokers & Custodians) to leverage relationship to accelerate TAT will be an added advantage
• Maintain the highest standards of conduct and integrity
• Support a culture of effective challenge to ensure appropriate governance, and one that supports the core values of State Street

Education & Preferred Qualifications

• 8 years + experience in financial services
• Navigate a large, global organization. Build meaningful relationships and develop an effective network
• Work successfully in a matrixed environment. Effectively manage multiple stakeholders, determine highest priorities for the organization, identify and resolve contention between directives
• Experience with change management programs. Demonstrated ability to execute under challenging circumstances and deliver targeted outcomes
• Cross-cultural awareness and the ability to connect with colleagues globally in a collaborative, open work environment. To serve as a role model of acceptance and flexibility in dealing with colleagues with varying backgrounds

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

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.