What is the main focus of the Product Owner Insurance Accounting role at State Street?

The Product Owner Insurance Accounting role at State Street is focused on defining business requirements, accounting logic, and client outcomes for the Insurance Accounting product. It is a business-focused role, not a technical one, requiring expertise in insurance and investment accounting principles rather than system architecture.

What specific accounting experience is required for this Product Owner position at State Street?

This role requires strong experience with insurance accounting and/or investment accounting, including complex asset classes like fixed income, derivatives, mortgage loans, and alternative investments. A Bachelor's degree in accounting or a related field is preferred, along with 10+ years of relevant experience.

Does this Product Owner role at State Street involve technical development or system design?

No, this is explicitly a business Product Owner role. While you will partner with technology and development teams, your accountability will be centered on business requirements, accounting logic, client outcomes, and regulatory correctness, not on system architecture or technical solution design.

How does State Street foster a positive work environment for its Product Owners?

State Street aims to create a great work environment with competitive benefits, flexible work programs, and extensive development opportunities. They emphasize Inclusion, Diversity, and Social Responsibility, supporting employees in balancing professional and personal life and fostering a space where everyone can thrive.

What are the key responsibilities of a Product Owner in the Insurance Accounting platform at State Street?

Key responsibilities include acting as the business authority for insurance accounting functionality, leading product initiatives, communicating with clients and stakeholders, defining requirements, creating user stories, providing functional testing, and supporting product roadmaps and documentation.

What kind of analytical and problem-solving skills are important for this role at State Street?

Strong problem-solving and decision-making skills are essential, coupled with deep analytical and research capabilities. Sound accounting judgment and meticulous attention to financial details are also highly valued for this Product Owner position.

What is the expected experience level for the Product Owner Insurance Accounting role at State Street?

The role requires at least 10 years of experience. This can be in a business product owner or end-user capacity for insurance, fund accounting, or financial software, or as a business analyst or product owner supporting financial or accounting platforms.

How does State Street approach diversity and inclusion in its hiring for roles like Product Owner?

State Street strongly believes in the power of diverse backgrounds and experiences. They warmly welcome candidates of all origins, backgrounds, abilities, ages, sexual orientations, gender identities, and personalities, striving for an inclusive environment where everyone can reach their full potential.

Fund Accounting and Administration Product - Insurance Accounting, Asst. Vice President,

State Street · Bengaluru, Karnataka, India

On site
Full-time
$150,000 / year
Bengaluru, Karnataka, India

Job highlights

Business Product Owner for Insurance Accounting.
Define business requirements and accounting logic.
Translate needs into user stories for agile teams.
Validate accounting accuracy and client outcomes.
Client interaction and product demonstrations.

About the role

About State Street

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.

Who We Are Looking For

We are seeking a business Product Owner to support the Insurance Accounting product within State Street’s Fund Accounting and Administration platform. This role represents accounting, operational, regulatory, and client needs within the product and serves as the business authority for assigned functional areas.

This is not a technical product owner role. While the position partners closely with technology and development teams, accountability is focused on business requirements, accounting logic, client outcomes, and regulatory correctness, rather than system architecture or technical solution design.

Why this role is important to us

The Product Owner plays a critical role in ensuring that product enhancements accurately reflect insurance and investment accounting requirements and deliver meaningful value to clients. By acting as the voice of the business, this role ensures solutions are fit for purpose, compliant, and aligned with product strategy, while enabling efficient and effective delivery through agile development teams.

What You Will Be Responsible For

As the Product Owner, you will act as the business lead and subject matter expert for assigned product areas. Responsibilities include:

Serving as the primary business authority for insurance accounting functionality and related reporting
Acting as the key business lead on product initiatives and enhancements
Communicating directly with clients and internal stakeholders to understand needs, priorities, and impacts
Leading business analysis and functional design efforts; creating clear business design documents and requirements
Defining accounting ledger entries, multi-cost basis behavior, and accounting outcomes for enhancements
Translating business and accounting requirements into well-defined user stories and acceptance criteria
Providing business use cases and functional testing scenarios
Executing high-level and functional testing to validate accounting accuracy and business outcomes
Overseeing delivery of enhancements through iterative planning, prioritizing business value and client impact
Partnering with development, product management, and other stakeholders to support prioritization and backlog management
Providing input into product roadmaps and longer-term functional direction
Creating and maintaining user documentation
Delivering training sessions and product demonstrations for internal teams and current or prospective clients
Supporting software maintenance and client service teams with business-level troubleshooting, as needed
Assisting onboarding teams and clients with conversions and implementations, as needed

What We Value

The following skills and attributes will help you succeed in this role:

Strong problem-solving and decision-making skills
Deep analytical and research capabilities
Sound accounting judgment and attention to financial details
Ability to manage multiple priorities and initiatives simultaneously
Clear and effective communication with a wide range of stakeholders
Strong presentation and written communication skills
Excellent time management and organizational skills
Proficiency with Microsoft tools (Copilot, Teams, Excel, PowerPoint, etc.)

Education & Preferred Qualifications

Bachelor’s degree in accounting or a related field
10+ years of experience as a business product owner or end user of insurance, fund accounting, or financial software
OR 10+ years of experience as a business analyst or business product owner supporting financial or accounting platforms
Strong experience with insurance accounting and/or investment accounting, including complex asset classes (e.g., fixed income, derivatives, mortgage loans, alternative investments)
Knowledge of inbound and outbound data flows across the investment lifecycle (e.g., trade processing, cash, market data)
Experience working within an agile software development environment as a business product owner or business analyst
Experience working directly with clients

This role does not require hands-on software development, system architecture design, or technical solution ownership.

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

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.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

Read our CEO Statement

Job ID: R-789180

Key skills/competency

Insurance Accounting
Fund Accounting
Product Owner
Business Analysis
Financial Software
Agile Development
Client Relationship Management
Regulatory Compliance
Investment Accounting
Stakeholder Communication

Skills & topics

Product Owner
Insurance Accounting
Fund Accounting
Financial Services
Business Analysis
Agile
Client Management
Investment Accounting
Regulatory Compliance
State Street

How to get hired

Customize your resume: Highlight your 10+ years of experience in insurance or fund accounting, and product ownership or business analysis. Emphasize your expertise in insurance accounting, complex asset classes, and agile environments.
Tailor your application: Clearly articulate how your skills in problem-solving, analytical research, and financial attention to detail align with the Product Owner role. Showcase your experience communicating with clients and stakeholders.
Prepare for interviews: Be ready to discuss your experience with defining accounting ledger entries, multi-cost basis behavior, and translating business requirements into user stories. Practice presenting functional testing scenarios and validating accounting accuracy.
Demonstrate business acumen: Showcase your understanding of inbound/outbound data flows across the investment lifecycle and your ability to support software maintenance and client service teams.
Research State Street: Understand State Street's commitment to innovation, client focus, and diversity. Align your responses with their values and mission.

Technical preparation

Review insurance accounting principles thoroughly.,Understand investment lifecycle data flows.,Practice writing clear user stories.,Prepare functional test cases for accounting logic.

Behavioral questions

Describe a complex accounting problem you solved.,How do you prioritize competing stakeholder needs?,How do you translate business needs into requirements?,Share an experience managing client expectations.

Frequently asked questions

What is the main focus of the Product Owner Insurance Accounting role at State Street?: The Product Owner Insurance Accounting role at State Street is focused on defining business requirements, accounting logic, and client outcomes for the Insurance Accounting product. It is a business-focused role, not a technical one, requiring expertise in insurance and investment accounting principles rather than system architecture.
What specific accounting experience is required for this Product Owner position at State Street?: This role requires strong experience with insurance accounting and/or investment accounting, including complex asset classes like fixed income, derivatives, mortgage loans, and alternative investments. A Bachelor's degree in accounting or a related field is preferred, along with 10+ years of relevant experience.
Does this Product Owner role at State Street involve technical development or system design?: No, this is explicitly a business Product Owner role. While you will partner with technology and development teams, your accountability will be centered on business requirements, accounting logic, client outcomes, and regulatory correctness, not on system architecture or technical solution design.
How does State Street foster a positive work environment for its Product Owners?: State Street aims to create a great work environment with competitive benefits, flexible work programs, and extensive development opportunities. They emphasize Inclusion, Diversity, and Social Responsibility, supporting employees in balancing professional and personal life and fostering a space where everyone can thrive.
What are the key responsibilities of a Product Owner in the Insurance Accounting platform at State Street?: Key responsibilities include acting as the business authority for insurance accounting functionality, leading product initiatives, communicating with clients and stakeholders, defining requirements, creating user stories, providing functional testing, and supporting product roadmaps and documentation.
What kind of analytical and problem-solving skills are important for this role at State Street?: Strong problem-solving and decision-making skills are essential, coupled with deep analytical and research capabilities. Sound accounting judgment and meticulous attention to financial details are also highly valued for this Product Owner position.
What is the expected experience level for the Product Owner Insurance Accounting role at State Street?: The role requires at least 10 years of experience. This can be in a business product owner or end-user capacity for insurance, fund accounting, or financial software, or as a business analyst or product owner supporting financial or accounting platforms.
How does State Street approach diversity and inclusion in its hiring for roles like Product Owner?: State Street strongly believes in the power of diverse backgrounds and experiences. They warmly welcome candidates of all origins, backgrounds, abilities, ages, sexual orientations, gender identities, and personalities, striving for an inclusive environment where everyone can reach their full potential.