Full-Time

Derivatives Operation Specialist – Senior Associate

Confirmed live in the last 24 hours

State Street

State Street

10,001+ employees

Asset management and custody banking services

Consulting
Financial Services

Compensation Overview

$52k - $75.4kAnnually

Mid, Senior

Company Historically Provides H1B Sponsorship

Sacramento, CA, USA

Category
Asset Management
Financial Planning and Analysis (FP&A)
Risk Management
Finance & Banking
Requirements
  • Bachelor degree or above
  • 2+ 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)
  • 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
  • Ability to manage time and work well in a fast paced, high volume atmosphere; prioritize effectively
  • Strong written and verbal communication skills
  • Strong problem resolution skills
Responsibilities
  • 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

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 innovation and leadership, particularly in promoting gender diversity and inclusion within the workplace. The goal of State Street is to provide high-quality financial services while fostering an inclusive environment for its employees.

Company Stage

IPO

Total Funding

N/A

Headquarters

Boston, Massachusetts

Founded

N/A

Growth & Insights
Headcount

6 month growth

-10%

1 year growth

-10%

2 year growth

-10%
Simplify Jobs

Simplify's Take

What believers are saying

  • State Street's strategic acquisitions, such as stakes in BWP Trust and Australian Clinical Labs, indicate robust growth and expansion opportunities.
  • The company's exploration of blockchain-based payment solutions, including stablecoin and token launches, positions it at the forefront of financial technology innovation.
  • State Street's strong leadership team, with recent high-profile appointments, underscores its commitment to maintaining a competitive edge in the industry.

What critics are saying

  • The competitive nature of the financial services industry requires State Street to continuously innovate to maintain its market position.
  • Regulatory challenges and compliance issues, especially with new ventures like stablecoin and token launches, could pose significant risks.

What makes State Street unique

  • State Street's focus on institutional investors, including mutual funds and pension funds, sets it apart from competitors who may target a broader audience.
  • The company's commitment to innovation, such as exploring stablecoin and token launches, demonstrates its forward-thinking approach in the financial services industry.
  • State Street's emphasis on diversity and inclusion, highlighted by initiatives like WomenInFinance, distinguishes it as a leader in fostering a supportive and inclusive workplace.

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