State Street Hiring for Core Operations, SrAssc at Hyderabad, Telangana Full Time

Department/ Division:
Shared Services

Sub-Department Name:
Loans

Functional Job Title:
Senior Associate

Job Code:
Requisition ID:
Reports To:
Manager

Job Location:
Mumbai

Shift Type:
US Shift

Shift Timings:
8:30 AM ET to 5:00 PM ET /

6:00 PM IST to 3:00 AM IST

(Daylight changes applicable +/- 1 Hour)

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Role:
Full Time

Company Overview

State Street Corporation (NYSE: STT) is the world’s leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.40 trillion in assets under custody and administration and $2.48 trillion in assets under management as of June 30, 2014, State Street operates globally in more than 100 geographic markets and employs 29,420 worldwide. For more information, visit State Street’s website at www.statestreet.com.

Promoting a culture of excellence

With more than 29,420 employees across 29 countries, at State Street, our people are our greatest asset. We recognize that highly skilled, engaged and productive employees are essential to our success. Our company values reflect our commitment to employee engagement, Global Inclusion and corporate social responsibility – to help you build a fulfilling career. Around the world, we aim to be an employer of choice by offering competitive compensation and benefits, personal and professional development opportunities, and a work environment that promotes a diverse array of people, ideas and skills. We’re a company that insists on, and rewards, performance excellence. We know our success hinges on attracting the best people to join us – people like you.

State Street supports flexible work arrangements where determined feasible, consistent with business and operational needs. Subject to an individualized assessment of these considerations, roles may be identified as potentially suited for a flexible work arrangement. Requests for a flexible work arrangement can be made upon hire. All employees at State Street have the ability to request flexible work arrangements, with the final decision based solely on business discretion and subject to management approval. More information is available here. We encourage you to explore the possibilities that a career at State Street can offer you.

State Street is an Equal Opportunity Employer, and prohibits discrimination against applicants or employees on the basis of any legally protected characteristic.

Purpose of the Job (list the primary job duties and responsibilities)

As a Bank Loan Specialist, Senior Associate, the ideal candidate will 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.

Roles and Responsibilities (list the primary job duties and responsibilities)

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

The individual will work closely with their mutual fund counterpart, providing Loan related reports to be incorporated into the final NAV Calculation.

During the course of 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 procedures

Research and resolve exceptions and issues

Receive and resolve inquiries in a timely and accurate manner and communicates 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, participates 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.

Skill Sets (state “must to have” skill sets required to perform the day to day tasks) – (need more items under the dropdown list)

Additional Skill Sets:
Responsible for performing daily processes accurately and in accordance with defined time frames and client requirements. May have daily contact with Client Service, Client Management, COEs and Business Unit (BU) Shared Service teams.

Consults with manager where clarification or exception to policy may be required

Skills: Strong computer competence (Microsoft applications {Excel, Word etc.}, aptitude for math, interpersonal skills, oral communication skills, multitasking capability, ability to work under pressure/deadlines driven environment.

Mandatory Process Skills Sets:
Fund Accounting

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Transaction Processing & Management

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Mandatory Soft & Technical Skill Sets:
Excellent Communication Skills

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Problem Solving Skills

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Education & Experience (State the minimum qualifications & experience required to successfully perform the job, qualifications that are necessary for someone to be considered for the position) – (should we have a drop down list for educational requirements?)

Education Requirements:
Experience Requirements:
3-6 years’ experience in accounting, finance, mutual fund operations, loan servicing or related careers (preferred).

The above cited duties and responsibilities describe the general nature and level of work performed by people assigned to the job. They are not intended to be an exhaustive list of all the duties and responsibilities that an incumbent may be expected or asked to perform.