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State Street

Holds assets for institutions and runs index funds

Early Careers Finance/Economics/Accounting - Associate Level

Financial AccountingUpdated on Nov 11
Full-timeManila, Metro Manila, PhilippinesNo salary listedIn-person

About the Job

Requirements

  • Majoring in Finance, Accounting, or Economics is preferred; any other major is valid.
  • Good written and spoken English is required.
  • Basic experience with Microsoft Office is required.
  • Candidates should be students or graduates with academic aptitude and analytical capabilities.
  • Candidates should demonstrate individual ownership and accountability in performing assigned tasks.
  • Candidates must adhere to the Code of Conduct, delegation limits, escalation procedures, internal policies, and external regulations.

Responsibilities

  • Learn the end-to-end Alternatives NAV production process through hands-on participation in business-as-usual activities.
  • Perform basic accounting and operational tasks following documented procedures.
  • Prepare and post journal entries under guidance.
  • Perform reconciliations and identify differences for escalation.
  • Learn and gain exposure to accounting and servicing systems used in Alternatives NAV.
  • Learn alternative investment products, including private equity, private credit, and real estate.
  • Learn capital structures, including limited partner/general partner models, commitments, capital calls, distributions, and lifecycle events.
  • Learn operational and accounting processes across funds, structures, and client requirements.
  • Maintain accurate documentation and support business-as-usual deliverables.
  • Adhere to established controls, timelines, and quality standards.
  • Support day-to-day client operations and successful implementations for new clients on the Alpha investment platform.
  • Perform client billing setup and invoicing activities across business lines and geographies.
  • Drive billing process improvements and automation.
  • Support investment company clients by preparing financial statements, portfolio schedules, and associated mandatory reporting for audit or review and regulatory submission within required deadlines.
  • Monitor and process custody, accounting, and middle-office-related events accurately and on time; follow up on exceptions and facilitate timely problem resolution.
  • Process events across custody, accounting, middle office, and claims services for clients.
  • Contribute to development of processes and improvements to people and risk standards within the Income Center of Excellence.
  • Deliver daily reconciliation activities, reconciling accounting book of record/investment book of record to custody.
  • Collaborate with worldwide State Street teams and business operations and IT teams to support reconciliation and maintain client service standards.
  • Provide management information as needed to support business-unit decision-making.
  • Support the Risk Excellence culture.

Desired Qualifications

  • Involvement with student organizations is an added advantage.
  • A desire to develop a career in the finance industry is valued.

About the Company

State Street

Holds assets for institutions and runs index funds

State Street holds and services investments for pension funds, insurers, fund companies, and other large institutions, and it also runs index funds through State Street Investment Management. It launched the first US-listed exchange-traded fund, the SPDR S&P 500 ETF Trust, in 1993, and in 1924 it became custodian of the first US mutual fund. As a custody bank, it safekeeps clients' stocks and bonds, completes their trades, calculates what their funds are worth, and lends their securities to other investors. It earns fees on the assets it services and manages, plus income from currency trading and from interest on client cash. State Street traces its roots to a bank chartered in 1792 and is based in Boston, Massachusetts.

Company size
10,001+
Company stage
IPO
Headquarters
Boston, MA
Founded
1792

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