12-month Internship Program: Alpha Collateral Product Internship–Triparty & Digital Collateral

Who We Are:

Collateral Management provides flexible solutions to support clients across the collateral lifecycle. The product suite includes end-to-end collateral management, administration and servicing, analytics and optimisation, and digital transformation, with a growing focus on triparty services, clearing initiatives, and emerging digital collateral capabilities.

About the internship program:

State Street Alpha Collateral is seeking a highly motivated Collateral Management Intern to support the delivery and evolution of State Street’s Triparty and Digital Collateral initiatives over a 12-month internship.

Our Intern Program is designed for the high potential students, like you, into our most impactful roles, preparing you for future success. From day one, you will be exploring collaborative and dynamic environment company culture, and you will receive:

• A structured learning and development program, specific job-related trainings, professional development, and soft skills trainings.
• A buddy who can offer you their experience, knowledge, and guidance throughout your internship.
• Dedicated networking events for the Interns.
• Leadership and business-related sessions with Senior Management.
• Possibility to grow your professional network by joining Employee Committees including: Professional PWN, Families Network, Disability & Inclusion Network, Pride & Friends Network, Environmental Sustainability Network.

This internship offers hands-on exposure to product development, operating model design, and digital transformation within a global financial institution. You will work closely with Product Leads and subject-matter experts across Custody, Operations, Technology, Legal, Risk, and Compliance, gaining practical experience in how collateral products are designed, delivered, and evolved.

Program dates: 22 June 2026 – 21 June 2027

You must be available to participate in the program in person in the UK, starting from day one and for its full duration. You must work from the office four days a week.

What You Will Do:

In this role, you will perform the following day-to-day activities:

• Supporting triparty and digital collateral scoping, including products, workflows, and market practices.
• Assisting with analysis of current operating models and proposed digital or vendor solutions.
• Supporting business requirements documentation, including user stories and functional descriptions.
• Contributing to target operating model design across process, data, technology, and governance.
• Assisting with preparation of materials for stakeholder discussions and governance forums.
• Supporting transition and implementation planning activities.
• Assisting with solution validation and testing activities, including UAT preparation.
• Helping track delivery progress, risks, dependencies, and actions across workstreams.
• Supporting the maintenance of programme documentation in line with agreed governance standards.

Who We Are Looking For:

• Strong communication and interpersonal skills.
• Interest in financial markets, collateral services, and market infrastructure.
• Strong analytical skills and attention to detail.
• Ability to manage multiple tasks and meet deadlines.
• Willingness to learn and operate in a fast-paced, collaborative environment.
• Interest in digital transformation and emerging technologies.
• Curiosity about triparty services, clearing, and digital/tokenized collateral.
• A proactive mindset with a strong sense of ownership and accountability.
• Ability to prioritize work and escalate questions or issues appropriately.

Education and Preferred Qualifications:

• A minimum 2.1 honours degree or equivalent (predicted).
• Undergraduate students: degree in Economics, Business, Technology, Engineering, or a related discipline.
• Interest or coursework related to financial markets, banking, or technology preferred.
• Familiarity with Microsoft Office tools; experience with data analysis or project tools is a plus.
• You must be an undergraduate who is eligible to work in the UK and able to start your placement in early June 2026 and remain in the position for 12 months. You must be intending to return to university to finish your degree after the placement.

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 in locations, but you may expect generous medical care, insurance, and savings plans, among other perks. You’ll have access to a flexible Work Program 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, a matching gift program, 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.