Finance Tax, VP (Finance)

Who we are looking for

Tax Advantaged Investments (TAI), within Global Tax (GT), within Corporate Finance, is looking for an experienced portfolio manager professional. The primary focus for the position is on oversight of State Street's Tax Advantaged Investment portfolio of energy tax credit (ETC) investments.

TAX ADVANTAGED INVESTMENTS ETC INVESTMENTS OVERSIGHT

TAI proactively identifies, monitors and reports risks arising from its investment portfolio through a comprehensive risk framework, well established policies, guidelines, and procedures, and effective governing committees. The portfolio manager acts as the business-aligned oversight officer focused on these responsibilities for the investments of TAI. The core functions include managing the investment portfolio, reporting risk both internally within TAI as well as any oversight committees, managing the aspects of the investing holding company, tax credit reporting, and executing any exits or other restructurings that may occur from time to time.

TAI plays a critical role in the overall success of Global Tax. State Street investors and clients rely on State Street to ensure the risks of State Street are appropriately managed. Our team is responsible for identify, analyzing, monitoring key financial risks of this portfolio.

What you will be responsible for

The Portfolio Manager VP within TAI will focus on overall reporting, risk escalation, document negotiation of any kind including restructuring as well as sales of existing investments. The candidate should have experience within a banking organization, have strong analytical ability to work with large amount of investment data including tax related data, and possess sound verbal and written communication skills for interactions within GT as well as with internal and external stakeholders including global business partners and regulators.

The candidate will actively support the independent oversight of balance sheet interest rate risk (IRR) (e.g., risk metrics and limits, independent reviews, governance, reporting, etc.). The individual will provide an independent assessment of the overall accuracy, effectiveness, and reliability of the balance sheet interest rate risk management framework. The candidate will participate in special projects and review Global Treasury business strategies and new business initiatives to ensure business objectives are met within the firm's overall risk appetite. The candidate will develop knowledge in interest rate risk management and the Global Treasury business, including deep knowledge of the investment portfolio, deposit modeling, and regulatory requirements.

Additional duties and responsibilities include:

• Assist in providing reporting for any tax credit transfers that may occur.
• Support any questions tax credit purchasers may have in any tax reporting processes they have.
• Automate and streamline any reporting and data management processes, reducing risk and risk exception processes currently in place.
• Coordinate with all stakeholders in the forecasting and booking processes of State Street.
• Lead and support any accounting policy initiatives .
• Oversight of underlying assumptions of QRM system implementation (e.g., interest rate term structure models, volatility models) and their impacts to risk metrics results.
• Perform independent review of balance sheet interest rate risk management processes.
• Prepare analyses, reports and data for senior management, audit, regulatory communication and exams, and rating agency requests.

Education & Preferred Qualifications

• 7+ years of experience in roles related to investment portfolio management with a focus on energy and tax equity related investments; .
• At least undergraduate degree in Finance, Economics, Business or quantitative field (such as mathematics, statistics, computer science, etc.) with a proven affinity to financial services; graduate degree or professional designations such as CFA or FRM are a plus.
• In-depth understanding of operating reporting, financial statements, operating models, tax returns, and other related reporting from investments.
• Good working knowledge of energy and power products, such as power purchase agreements, hedges, and other instruments.
• Good working knowledge of energy and power technology, including wind, solar, battery, biomass and other technology solutions
• Strong verbal and written communication skills, with ability to articulate effectively ideas and analysis to senior management.
• Strong analytical skill on working with large balance sheet data. PrFriendly peopleoficiency data and reporting management software a plus.
• Self-starter with critical thinking skills and strong financial acumen, willingness to work in a fast-paced and high-energy level environment, and highly organized to manage competing deadlines.
• Team player with unquestionable integrity and ethical standards. Ability to gain trust and respect of business partners.

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

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.

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.

Discover more at StateStreet.com/careers

Salary Range:
$130,000 - $205,000 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.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

State Street's Speak Up Line Salary Minimum: 130000Salary Maximum: 205000