Full-Time

Bank Loan Servicing – Senior Associate

Confirmed live in the last 24 hours

State Street

State Street

10,001+ employees

Asset management and custody banking services

Fintech
Financial Services

Compensation Overview

$52k - $94.1kAnnually

Senior

Company Historically Provides H1B Sponsorship

Kansas City, MO, USA + 1 more

More locations: Quincy, MA, USA

Category
Asset Management
Finance & Banking
Required Skills
Customer Service
Data Analysis
Requirements
  • Experience in processing trades and trade settlements
  • Knowledge of daily reconciliation of cash balances
  • Ability to produce daily roll-forward proof of portfolio holdings and accrual information
  • Experience in preparing standard and ad hoc reporting for both internal and external customers
  • Strong customer service skills to respond to customer queries
  • Ability to interact with Investment Managers and perform ad hoc requests
  • Experience in identifying unusual or suspicious transaction activity
  • Research and problem-solving skills to track resolution exceptions and issues
  • Effective communication skills for timely and accurate inquiry resolution
  • Ability to define and ensure successful completion of ad-hoc requests
  • Experience in reporting functions and adherence to Standard Operating Procedures
  • Knowledge of broader internal/external business issues
Responsibilities
  • Performs daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients
  • Processing new trades and trade settlements on accounting records
  • Daily reconciliation of cash balances
  • Producing daily roll-forward proof of portfolio holdings and accrual information
  • Preparing standard and ad hoc reporting for both internal and external customers
  • Responding to customer queries on a daily basis
  • Daily processing of bank loan notices as received from agent banks
  • Interact with the Investment Manager on their assigned portfolios, performing ad hoc requests and providing daily reporting per client specific guidelines
  • The individual will work closely with their mutual fund counterpart, providing Loan related reports to be incorporated into the final NAV Calculation
  • During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures
  • Research and track resolution exceptions and issues
  • Receive and resolve inquiries in a timely and accurate manner and communicates effectively with client when necessary
  • Define and ensure successful completion of ad-hoc requests
  • Escalate unresolved issues to management as required
  • Perform daily or weekly reporting functions for the team’s activities
  • Ensure adherence to Standard Operating Procedures
  • Keep up to date on broader internal/external business issues; applies knowledge across team
  • Assist management in the implementation of new policies and procedures, participates in projects

State Street Corporation operates in the financial services industry, focusing on asset management and custody banking. It provides a variety of services to institutional investors, such as mutual funds and pension funds, through its division, State Street Global Advisors, which manages investment portfolios and offers advisory services. The company serves a wide range of clients, including corporations, governments, and non-profit organizations, and utilizes its global network and expertise to deliver customized financial solutions. State Street generates revenue from management fees for overseeing client assets, transaction fees from trading, and service fees for custody and administration. Additionally, it is recognized for its commitment to leadership and diversity, promoting a culture that supports employee growth and inclusion.

Company Stage

IPO

Total Funding

N/A

Headquarters

Boston, Massachusetts

Founded

1792

Simplify Jobs

Simplify's Take

What believers are saying

  • State Street can benefit from the rise of digital assets and cryptocurrencies.
  • The trend towards passive investing offers growth opportunities for State Street Global Advisors.
  • Increased focus on ESG investing aligns with State Street's asset management strategies.

What critics are saying

  • Competition from fintech companies may erode State Street's market share.
  • Rising interest rates could impact profitability in custody banking services.
  • Investments in volatile sectors like biotechnology may expose State Street to financial risks.

What makes State Street unique

  • State Street excels in asset management and custody banking for institutional investors.
  • The company is committed to innovation and leadership in financial services.
  • State Street promotes diversity and inclusion, enhancing its corporate culture.

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Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Flexible Work Hours

Remote Work Options

Professional Development Budget

Tuition Reimbursement

Paid Holidays

Employee Referral Bonus