Compensation Overview

Why this role is important to us

The team you will be joining is a part of State Street Global Delivery (GD). GD gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, GD’s’ tools help our clients make better investment choices and act on growth opportunities.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As a Derivatives, Associate 2, the ideal candidate will support and assist Client Operations and other operational Shared Service teams/ Center of Excellence (COE’s) by monitoring and processing Derivatives related events. 

Responsibilities & Tasks Include:

• Ensure team carries out basic and complex trade processing and valuation functions in accordance with established procedures.
• Ensuring the accuracy and timeliness of the team’s deliverables
• Plan and manage the daily operations of the team
• Be accountable for all aspects of resources planning including succession planning, staff development and staff retention initiatives; promote cross training, resource sharing and job rotation across teams/departments; participate in the recruitment process
• Plan and manage resources to ensure that all deliverables are completed in an accurate and timely manner;
• Ensure that process procedures applicable to the team are understood and applied by all team members;
• Constantly review and refine the operational process; drive the implementation of operational efficiencies and re-engineering initiatives.
• Take ownership of resolution of queries with internal teams, clients, vendors, counterparties etc. to ensure top notch service
• Answer and own complex issues and queries and escalate as needed acting with a sense of urgency to meet required deliverables.
• Quality control - Be able to audit the accounting / verification data input and establish control over the overall process accuracy within the KPIs agreed.
• Manage new business transitions or business migration activities and ensure proper  implementation within the team;
• Build relationship with internal & external clients; foster this culture within the team
• Coach and offer help to less experienced staff
• Work closely with inter-departmental contacts to ensure that the required deliverables are delivered with high quality
• Identify risk issues, breaches and act in accordance with the ’risk’ escalation chain and operating procedures
• Resolution of queries with internal teams, clients, vendors, counterparties etc.
• Be accountable for assigned tasks and deadline for self and for the team
• Be accountable for staff on-boarding, leave planning and turnover of the team
• Foster an environment of learning and team work.
• Ability to prepare efficient work allocation for all team members
• Actively participate in the corporate, systems, internal and statutory audit to resolve the audit queries
• Own issues and drive solutions. Understand the client requirements and be able to direct the team to create KPIs / reports
• Documentation – Be able to review and correct the process documentation such as process flows, Standard Operating procedures (SOPs) and coach the team
• Understand the end to end process and be able to seek support to clear out inter process upstream / downstream dependencies. Suggest process improvements and be able to seek support to drive projects to create  efficiencies / enhance controls

Job Requirements:

Education and Experience

• Bachelor degree or above
• 3+ years experience in financial services and/or a back-office operations environment.
• Strong Excel skills would be an added advantage
• Strong knowledge of financial concepts (Derivatives and Regulation)

Skills/ Knowledge

• Demonstrated ability to meet deadlines and possess strong problem solving and resolution skills.
• Drive process improvement initiatives and changes based on business strategy requirements and educate team on exception processing
• Accumulate, retain and use knowledge of OTC derivatives associated with process.
• Advanced working knowledge of accounting fundamentals with respect to the workability of various financial instruments, especially derivatives
• Expert knowledge of Internal Systems, MS office (excel, word) and good working knowledge of MS PowerPoint.  Knowledge of database management systems MS access / Visual basic/ Macros would be an added advantage
• Data & Analysis - Possesses strong attention to detail. Demonstrate good analytical skills in resolving the team issues and facilitates decision making
• Ability to manage time and work well in a fast paced, high-volume atmosphere; prioritize effectively
• Support the team management managing BAUs and projects.
• Lead and support the Learning and Development initiatives for the team and demonstrate complete ownership.
• Highly organized
• Excellent attention to detail
• Ability to meet deadlines and possess strong problem solving and resolution skills.
• Detailed oriented individual capable of performing in a high pace environment
• Ability to work independently as well as a team player
• Strong written and verbal communication skills
• Strong problem resolution skills

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:

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