State Street is a leading provider of financial services to institutional investors around the world.
The major responsibilities of the role are as follows:
- For Market claims, fully investigate and correctly attribute all investment losses suffered by the client to the negligent party including both internal and external parties. This involves liaising with internal Statestreet Middle Office teams, M&G and external parties such as the custodians.
- Make claims to external parties when contractual failures occur and settlement dates are missed.
- When approached by internal parties facilitate investigation, claims or payments which may be attributed internally within the client
CSDR – following implementation of the new CSDR regime from February 2022, the team are additionally responsible for the management of the penalty process which includes :
- Reconciliation of monthly/daily MT537s
- Investigation and logging of external claims
- Keep a detailed log of claims/payments made
- Query penalty differences with custodian
- Calculate and make prefunding payments within tight CASS deadlines
- In respect of debit interest, acknowledge this has been assigned to custody services and investigate and resolve the debit in an efficient manner
- Maintain the monthly Investment Losses MIS detailing volumes and value of losses per business area.
- Propose improvements to enhance and maintain reporting processes and information provided to third parties. When agreed, communicate with parties to confirm and implement changes.
- Provide all required MIS to internal State Street and client stakeholders and required intervals.
Work Parameters or Boundaries (e.g. Internal Procedures):
- Ensure all activities are compliant with corporate standards.
- Maintain clear and effective communications with immediate colleagues and Senior Management
- Adhere to internal procedures and best practices at all times.
Knowledge of Middle Office processes. Excellent communication skills, detail orientated and accuracy, problem solving skills, ability to multi-task and ability to work under pressure/deadlines.
Previous Level of Experience:
5+ years of operational experience in middle office processes including knowledge of settlements, global custody and banking
Skills – interpersonal, numerical, problem-solving, analytical, etc
- Good communication skills and an ability to provide a customer focused approach
- Must be able to work as part of a team.
- An ability to organise and prioritise activities
- Able to determine solutions to problems
- Must be flexible whilst being delivery-focused
- Strong attention to detail
- Ability to implement changes to processes and manage through to completion
- Good interpersonal skills as roles requires interaction within and outside organisation.
- PC literate – Word, Excel, PowerPoint
- Aladdin system operational knowledge ideally required.
- Flexible working hours may be required.
- Strong sense of ownership and leadership
- Operate with minimal supervision in a complex environment
- Willingness to travel if required
- Strong organizational and time management skills
- Ability to prioritize and work on own initiative and as part of a 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 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 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