Alternative Operations Settlement Specialist, Senior Associate

STATE STREET CORPORATION; Irvine (CA); On-site; USD 58,000 - 93,000; Full time

Benefits offered by this job

401K with company match

Medical & dental insurance

Paid time off

Employee Assistance Program

Performance-based incentives

Job summary

STATE STREET CORPORATION in Irvine, CA is seeking an Alternative Operations Settlement Specialist, Senior Associate to manage settlements of alternative assets, bank loans and whole loans via SWIFT, DTC and/or physical settlement. You will support research, proofs, and data trackers, escalating issues per policy.

The role requires a degree in accounting/finance or related field, experience with SWIFT and loans, and strong detail-oriented, communicative skills to handle inquiries and ensure

Qualifications

• Bachelor’s degree in Accounting or Finance preferred.
• SWIFT settlement experience preferred.
• Bank Loans and Whole Loans experience preferred.
• Strong computer competence with Word, Excel, Visio.
• Accuracy and detail orientation are essential.
• Strong interpersonal and written/verbal communication skills.
• Ability to multi-task and work under pressure.

Responsibilities

• Accurately posting trade requests to custody, accounting and other systems.
• Resolves data quality issues with accounting/client service groups.
• Process transactions per established procedures.
• Review work for accuracy and support offshore teams.
• Resolve trade and settlement discrepancies timely and accurately.
• Respond to client/bank inquiries promptly.
• Provide improvements to processing or procedures.
• Research complex issues and propose solutions.
• Identify unusual or suspicious activity and escalate as needed.

Skills

Accuracy

Detail oriented

Interpersonal skills

Communication

Multi-tasking

Deadline teamwork

Education

Bachelor’s degree in Accounting or Finance preferred

Tools

SWIFT settlement

MS Office (Word, Excel, Visio)

Job description

Who we are looking forFrom technology and product innovation to corporate responsibility and community development, we’re making our mark on the financial services industry. We’re a global company with diverse people and experiences, and a network of over 50,000 employees spanning more than 100 markets. For us, success comes from the impact our employees have – on our clients, our communities and each other.We’re committed to providing an inclusive environment where all employees feel valued and supported. Join us and make your mark at State Street.What you will be responsible forAn Alternative Operations Settlement Specialist, Senior Associate is responsible for:Accurately posting trade requests, including (but not limited to) loans, real estate, equity, credit and collateral transactions to our custody, accounting and other systems.Resolving data quality issues through interaction with accounting and client service groups.Process transactions in accordance to established procedures.Reviews work for accuracy and serves as a support resource for offshore teams.Resolving trade and settlement discrepancies in a timely and accurate manner.Responds to all client, bank, counterparty and service provider inquiries timely and accurately.Provides recommendations for improving in processing or procedures.Works with other internal business units to resolve complex or non-routine process in related questions/issues.Researches complex issues and proposes tactical and strategic solutions.Familiar with bank loans, alternative assets – both settlement and lifecycle events.Identifies and takes ownership of issues.Assists with other related duties as required.Performs ad-hoc tasks to support team supervisor and the overall business unit as needed.In the role of Alternative Settlements Operations Specialist, Senior Associate you will be responsible for:Job Duties And ResponsibilitiesManages the day-to-day settlements of alternative assets, bank loans and whole loans via SWIFT, DTC and/or physical settlement.Manages data trackers and inquires timely and accurately.Supports individual and team efforts with regard to research and resolution process for exceptions and inquiries.Supports Client Operations and Joint Venture team in providing appropriate information for preparation and research of proofs as needed.Remains familiar with back-up procedures when system applications and/or transmission problems arise.Develop an understanding of settlement processes and types, processing requirements, processing timelines, how those actions may affect fund asset values, and be able to practically apply this knowledge to processing environment.During 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 proceduresMay perform other duties as requested.Education and preferred qualificationsBachelor’s degree with business related coursework or B.S. degree in Accounting or Finance preferred.SWIFT settlement experience is preferred.Bank Loans and Whole Loans experience preferred.Strong computer competence (Microsoft Applications: Word, Excel, Visio).Accuracy and detail oriented.Strong interpersonal skills.Strong communication (verbal and written) skills.Ability to multi-task.Ability to work under pressure and within a deadline-oriented team.Salary Range:$58,240 - $92,560 AnnualThe 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.Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.For a full overview, visit https://hrportal.ehr.com/statestreet/Home .About State StreetAcross the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.Discover more information on jobs at StateStreet.com/careersRead our CEO StatementJob 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.