Core Operations, Associate 2

State Street; Sacramento (CA); On-site; USD 42,000 - 67,000; Full time

Job summary

State Street is seeking a Derivative Operations Specialist, Associate 2, to accurately post domestic and foreign derivatives and manage related data within Custody and Accounting systems. You will resolve data quality issues, support daily processing, and collaborate with North America and Europe teams to ensure compliant operations.

You will work on reconciling cash and position items, applying advanced strategies like SDRs and options, and assisting with client reporting and audits.

Qualifications

• Bachelor's degree with business coursework or BS in Accounting or Finance preferred.
• Strong computer skills with Microsoft Office.
• Detail-oriented and accurate.
• Excellent verbal and written communication.
• Ability to multi-task under deadline pressure.

Responsibilities

• Use the OTC HUB application to process derivative transactions including trade posting, dividend accrual and payments, corporate action processing, security pricing, and derivative ledger processing.
• Reconcile transactions, both cash and position related, to Prime Brokers and clients daily.
• Understand and apply complex investment strategies including CFD, Credit Default Swap, Interest Rate Swap, Basket Swap, Total Return Swap, and Options.
• Collaborate with team members and other shared services/COEs to ensure accurate processing per fund policies.
• Support issue resolution with Prime Brokers and client operations; prepare financial statements and reports as needed.

Skills

Attention to detail

Communication

Interpersonal skills

Multitasking

Education

Bachelor's degree in Accounting or Finance

Tools

Microsoft Word

Microsoft Excel

Job description

From 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 35,000 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.

A Derivative Operations Specialist, Associate 2, is responsible for accurately posting domestic and foreign derivatives, including (but not limited to) swap, future, options and collateral transactions to our Custody and Accounting systems. This individual resolves data quality issues through interaction with accounting and client service groups in North America and Europe. The individual acts as a first level resource within assigned business unit to process transactions in accordance to established procedures. This individual performs various daily tasks within the business unit as necessary to support processing routines and assists with other related duties as required.

In the role of Derivative Operations Specialist you will be responsible for:

Job Duties And Responsibilities:

• Use the OTC HUB application to process derivative transactions to include: trade posting, dividend accrual and payments, corporate action processing, security pricing, and derivative ledger processing
• Reconcile transactions, both cash related and position related, to Prime Brokers and clients on a daily basis, promptly escalating and researching any discrepant items
• Conceptual application of complex investment strategies including, but not limited to; CFD, Credit Default Swap, Interest Rate Swap, Basket Swap, Total Return Swap, and Options
• Works in conjunction with individuals on the team as well as other shared services/COEs, and Client Operations to ensure seamless processing according to the fund’s policies
• Supports individual and team efforts with regard to research and resolution process for exceptions and inquiries, creating Prime Broker relationships and liaising as necessary to seek assistance in exception resolution
• Support Client Operations in providing COE related information needed to prepare financial statements and reports for client, shareholder, director and management reports, in an accurate and timely manner
• Develop an understanding of Corporate Action types, processing requirements, processing timelines, how those actions may affect fund asset values, and be able to practically apply this knowledge to processing environment
• Maintains records in support of audits
• During normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalates in accordance with corporate policy and guidelines detailed in relevant operating procedures
• May perform other duties as requested

Qualifications:

• Bachelor’s degree with business related coursework or B.S. degree in Accounting or Finance preferred.
• Strong computer competence (Microsoft Applications: Word, Excel)
• 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

About State Street

What we do. 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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program 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 perspective 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 the 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 program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

Salary Range:

$41,600 - $66,560 Annual

The 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 Street

Across 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/careers

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Job 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.

Job ID: R-797602