About the role
We are hiring an Officer to 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. The role will support the translation of complex client, market and infrastructure requirements into transparent business requirements, process documentation, test scenarios and implementation deliverables across securities settlement, cash and FX support, corporate actions, income, reconciliation and client/account setup.
The successful candidate will operate as a business analyst within the Direct Custody Business Design & Deployment team, supporting senior workstream leads and partnering with Product, Operations, Technology, Vendors, Market Infrastructures and Control Functions. Following implementation, the role may support subsequent market launches or transition into the relevant BAU Direct Custody operations.
Why this role is important to us




State Street is progressing a strategic transformation from sub-custodian arrangements to direct market participation across key markets. Project requires a coordinated operating model across T2S direct markets, non-direct and sub-custodian routes, multiple client archetypes, account structures and market-specific exception mechanisms.
This role is critical to:
• Supporting controlled direct-market implementation through accurate business analysis, requirements documentation, testing and operational-readiness execution.
• Supporting a scalable and integrated service model across settlement and market-facing activities, while aligning upstream processing with the existing operating model.
• Documenting client and market-specific complexity by distinguishing standard custody processing from exceptions requiring operating-model, technology and control closure.
• Building sustainable internal capability through documented processes, training, knowledge transfer and reusable implementation artefacts.

Key res

📌 Core Operations (Mumbai)
🏢 State Street
📍 Mumbai