Job Description
Purpose of the Job 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 Performs daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clientsProcessing trades, booking receipts and disbursementsDaily reconciliation of cash balancesProducing daily roll-forward proof of portfolio holdings and accrual informationPreparing standard and ad hoc reporting for both internal and external customersResponding to customer queries on a daily basisDaily 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 guidelinesThe 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 proceduresResearch and resolve exceptions and issuesReceive and resolve inquiries in a timely and accurate manner and communicates effectively with client when necessaryDefine and ensure successful completion of ad-hoc requestsEscalate unresolved issues to management as requiredPerform daily or weekly reporting functions for the team’s activitiesEnsure adherence to Standard Operating ProceduresKeep up to date on broader internal/external business issues; applies knowledge across teamAssist management in the implementation of new policies and procedures, participates in projectsAssist with workflow management and technology enhancements., make suggestions to streamline operationsMaintain knowledge of current alternative procedures and processesSupport training of new hires as necessaryOther tasks as needed.Mandatory Process Skills Sets: Bank LoansFund AccountingTransaction Processing & ManagementMandatory Soft & Technical Skill Sets:Excellent Communication SkillsProblem Solving SkillsExperience Requirements:experience in accounting, finance, mutual fund operations, loan servicing or related careers (preferred).About State Street: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.State Street's Speak Up Line
