State Street is a leading global services provider for institutional investors and the second oldest operating bank in the United States. In 2007, they established a presence in India to support their operations around the world. Today, over 8000 professionals located in Bengaluru, Hyderabad and Mumbai provide a range of services, which broadly includes Business Operations, Global Corporate Shared Services and Global Technology Services as well as corporate support functions. Recently, State Street India was named as one of the “Best Workplaces for Women 2021” by the Economic Times.
To learn what helps State Street offices in India thrive, we talked to Dhanashri Jogal, managing director and head of the Global Realty Services, who joined the company as one of the first employees in India. “With over 25 years of work experience and educational merits in history, design and other areas, I started my career here way back in 2007. Working at State Street has been a great experience with various exciting projects ever since,” she says.
State Street India continues to hire both graduates and experienced professionals into areas such as: investment servicing, investment management, data and research, financial software development and cybersecurity – creating a great environment to kick start a career and grow internally. The organization also offers diverse developmental opportunities for anyone looking to pursue a career within the financial services industry. They provide an opportunity to learn about a variety of financial services, products and markets as well as paths that can advance into leadership roles.
“The last 13 years of my life at State Street has been a huge upward curve professionally and personally,” says Dhanashri. “Here, I got the opportunity to work for projects in Europe and Middle East, which involved setting up office spaces in Dubai and Doha, fit out works in South Africa, overseeing functions in APAC, and setting up new offices and various support functions in India,” she adds.
Although there are many highly specialized functions both in finance and technology that the organization is hiring for, it also offers opportunities for fresh graduates and students. Recently, an internship in their Global Technology Solutions group was launched with 15 students joining State Street for eight weeks. Similar internship programs are also launched in their finance and corporate services departments throughout the year.
Employee Networks and Corporate Citizenship
It is not only the business side of things that makes working for State Street so interesting. The organization is also known for championing change when it comes to inclusion and diversity, gender balance and corporate responsibility. Employees are welcome to join the global employee networks that are united around a common goal, seeking to help shape our future with their unique perspectives. These networks create volunteering, career development and cultural opportunities aligned with members’ goals and interests such as supporting environmental sustainability, gender equity, disability awareness, and lesbian, gay, bisexual, transgender and queer communities among others.
Dhanashri had the opportunity to chair the Professional Women’s Network Committee for India from 2008 to 2017, followed by chairing the Environmental Sustainability Employee Network Committee for India. She was also recently invited to co-chair the Community Outreach Committee for APAC and EMEA. “With its diverse culture stretching over continents, State Street is involved in various programs and truly believes in giving back to the community and the environment. We walk the talk and I feel it’s a great way of leading,” she comments.
Another initiative that allows employees to create meaningful impact is the Giving, Investing, Volunteering by Employees program. It strives to bring lasting economic benefits by helping individuals make a living and by contributing grants to non-profit organizations. Some of the organizations supported in India include Enable India, Nirmaan, Provision, Magic Bus India Foundation, Katalyst, Quest Alliance, VIDYA - Integrated Development of Youth and Adults, Headstreams, Surge and Charities Aid Foundation.
Creating the Future of Work
State Street India also offers the opportunity to take part in organizational change programs. “Since 2019, the whole organization has geared up for many projects in an initiative to grow and sustain as a high-performing organization with the best utilization of the resources,” says Dhanashri. These change-oriented programs are focused around three key goals: enhancing client partnerships and capabilities, creating a high-performing organization, and increasing shareholder value.
Throughout the pandemic, State Street looked for opportunities to help employees in various ways. “While there were companies which were downsizing, we continued to concentrate on employees’ well-being, which demonstrates our conducive work environment,” comments Dhanashri. An example of this commitment towards their workforce includes the efforts taken by the organization to ensure that remote working for employees was as seamless as possible by providing them laptops, WiFi dongles, computer peripherals like keyboards and monitors, and uninterruptible power sources. State Street also reimbursed the purchase of office chairs for all employees in India to make their work from home more comfortable.
Further, considering the current state of the COVID-19 pandemic in India, the State Street Foundation will make a donation to Goonj, a pan-India non-government organization with a strong history of being at the forefront of disasters and working on the ground with communities in need. “Today I am very proud to say that I am a part of the State Street family,” Dhanashri concludes.
Ready to make your mark? Learn more about career opportunities in finance and technology at State Street here.
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