Bank Loans - Senior Associate

State Street Corporation; Quincy (MA); On-site; USD 52,000 - 94,000; Full time

Benefits offered by this job

401K plan with company match

Health and life insurance

Paid time off and holidays

Employee Assistance Program

Job summary

State Street Corporation is seeking a detail-oriented operations professional to support Client Operations and Shared Services by monitoring custody events, processing trades, reconciling cash balances, and producing daily and ad hoc client reports. The role emphasizes accuracy, timely responses to inquiries, and escalation of issues when needed.

You will interact with Investment Managers, handle loan notices, and support the NAV calculation process.

Responsibilities

• Monitor and process custody related events to the fund’s records accurately and timely.
• Follow up on exceptions and facilitate timely problem resolution to mitigate risk.
• Maintain records for Syndicated Bank Loans held in various portfolios.
• Process trades, book receipts and disbursements.
• Daily reconciliation of cash balances.
• Produce daily roll-forward holdings and accrual information.
• Prepare standard and ad hoc reporting for internal and external customers.
• Respond to customer queries daily.
• Process bank loan notices from agent banks.
• Interact with Investment Manager on portfolios and report per client guidelines.
• Provide loan related reports for NAV calculation.
• Identify unusual or suspicious activity and escalate as required.
• Research and resolve exceptions and issues.
• Handle inquiries promptly and communicate with clients.
• Complete ad-hoc requests and escalate unresolved issues.
• Perform daily/weekly team reporting and adhere to SOPs.

Job description

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 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

• Support and assist Client Operations and other operational Shared Service teams/ Center of Excellence (COE’s) by monitoring and processing custody related events to the fund’s records accurately and timely.


• Ensure prompt follow up on exception situations and facilitate timely problem resolution to mitigate risk to the corporation and deliver excellent service to clients.


• Performs daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients.


• Processing trades, booking receipts and disbursements.


• 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, inputting/settling trades, performing ad hoc requests and providing daily reporting per client specific guidelines.


• Provide Loan related reports to be incorporated into the final NAV Calculation.


• Identify any unusual or potentially suspicious transaction activity and must report and/or escalation in accordance with corporate policy and guidelines detailed in relevant operating procedures.


• Research and resolve exceptions and issues.


• Receive and resolve inquiries in a timely and accurate manner and communicate 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, participate in projects.


• Assist with workflow management and technology enhancements, make suggestions to streamline operations.


• Maintain knowledge of current alternative procedures and processes.


• Support training of new hires as necessary.


• Other tasks as needed.

About State Street

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 e ployee networks that help you stay connected to what matters to you. State Street is an equal opportunity and affirmative action employer.

Salary and Benefits

Salary Range: $52,000 - $94,120 Annual

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);


• eligibility for certain tax advantaged savings plans.

Equal Opportunity Statement

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.