Private Markets Custody Operations Associate 1

Job description :

This is a unique opportunity to provide custody services for hedge funds and private equity firms. As a member of the Alternative Investment Services team you will support and assist the client and their designated investment managers with operational services on their custody portfolios.

Overall Responsibilities :

Reviews and validates all daily activity in an accurate and timely manner and maintains all required controls to ensure overall accuracy

Undertake routine tasks related to the monitoring and processing cash and custody events

Work in conjunction with individuals on the team other shared services / COEs India and Client Operations to ensure seamless processing of cash and custody events according to the fund’s policies

Support the research and resolution of exceptions and inquiries related to cash and custody events

Calculate cash availability in accordance with performance standards and client deadlines

May provide cash forecasting for clients based on a set of criteria described by the client and / or Investment Manager

Process all actual cash movements in the funds

Process cash sweep and short term investment transactions (repo commercial paper)

Post share and cash movement for subscriptions and redemptions

Post cash receipt / disbursement entries to custody and accounting records

Process all income inquiries and research unpaid items by deadline

Research and verify all interest variances and ensure that all pay downs are processed in a timely manner

Process expense payments and check requests as instructed by client

Reconcile custody to accounting cash & share records. Document all exceptions and clear exceptions by deadline. Elevates exceptions as required

Resolve discrepancies with Transfer Agent

Monitor all overdrafts and ensure that overdraft compensation is collected on a timely basis. Ensure that cause of overdraft is accurately communicated while elevating potential issues to management

Process trade settlement information within deadlines and comply with all requirements

Book trades accurately and in a timely manner. Communicates fail trade information as directed. Reconcile outstanding items

Process collateral / assets segregated as instructed

Perform all weekly and biweekly proof activities

Maintain records in support of audits

May be required to communicate with clients to support trade processing

Remain familiar with back-up procedures when system applications and / or transmission problems arise

May be required to perform other duties as required

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

Strong computer competence (Microsoft Applications : Word Excel)

Aptitude for math

Strong oral communication and interpersonal skills

Strong accuracy aptitude and detail orientation

Ability to multi-task

Ability to work under pressure and within a deadline oriented environment

Preferred :

Associate’s degree with business coursework and related experience OR Bachelor’s degree with business coursework

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

Salary Range :

$41,600 - $57,200 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.