Core Operations, Associate 2

State Street•Quincy, MA

About The Position

The Associate II, Basket Operations supports the daily production, validation, and release of ETF creation and redemption baskets. This intermediate-level role processes and reviews basket builds, cash components, corporate action adjustments, and intraday (T+0) workflows while ensuring accuracy, timeliness, and adherence to established controls. The Associate II works closely with ETF Lead teams, Trading, Transfer Agency, Pricing, Settlements, and Technology to mitigate operational risk and deliver high-quality client outcomes. State Street describes itself as a custodian bank, asset manager, and asset intelligence company that provides investment servicing, data and analytics, investment research and trading, and investment management to institutional clients. The company states that its benefits vary by location and may include medical care, insurance and savings plans, flexible work programs, development programs, and educational support.

Requirements

Bachelor’s degree or equivalent work experience.
Strong attention to detail and a control-oriented mindset.
Ability to manage time-sensitive deliverables in a high-volume environment.
Solid analytical and problem-solving skills, with clear escalation judgment.
Effective written and verbal communication and strong collaboration skills.
Proficiency with operational platforms, Excel, and standard productivity tools.

Nice To Haves

Two to four years of operations experience within asset management, custody, fund accounting, or ETF servicing.
Working knowledge of ETF primary market operations, basket mechanics, and corporate actions.

Responsibilities

Produce, review, and validate daily ETF baskets, including cash components, interest factors, and other income adjustments, before release and approval.
Execute and document required control checks, such as basket review macros and early/late index comparisons, and escalate exceptions promptly.
Process and review corporate action impacts on baskets, including splits, mergers, and delistings, and ensure standing instructions are accurately applied.
Input and review Cash in Lieu (CIL) adjustments according to client instructions and procedural controls.
Follow documented procedures, AML escalation standards, and risk controls to help prevent financial or reputational impact.
Maintain accurate documentation, checklists, and evidence to support audits and management review.
Coordinate with ETF Leads, Trading, Pricing, Settlements, and Technology to resolve issues and support launches, liquidations, and fund changes.
Identify process improvements and participate in training and knowledge-sharing initiatives.

Benefits

Retirement savings plan (401(k)) with company match.
Insurance coverage including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
Paid time off, including vacation, sick leave, short-term disability, and family care responsibilities.
Employee Assistance Program.
Eligibility for annual performance-based incentive awards, except for certain sales roles subject to sales incentive plans.
Eligibility for certain tax-advantaged savings plans.
Paid volunteer days and matching gift programs.
Flexible work programs and work-life support.
Development programs and educational support.
Employee networks.
Inclusive development opportunities.