Core Operations, Associate 2

State Street•Quincy, MA

3d•$41,600 - $66,560

About The Position

The Associate II, Basket Operations supports the daily production, validation, and release of ETF creation and redemption baskets. The role performs intermediate-level processing and review activities, ensuring accuracy, timeliness, and adherence to established controls across basket builds, cash components, corporate action adjustments, and intraday (T+0) workflows. The Associate II partners with ETF Lead teams, Trading, Transfer Agency, Pricing, Settlements, and Technology to mitigate operational risk and deliver high-quality client outcomes.

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 sound escalation judgment.
Effective written and verbal communication and strong collaboration skills.
Proficiency with operational platforms, Excel, and standard productivity tools.

Nice To Haves

2–4 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 in a timely manner.
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 (401K) with company match.
Insurance coverage including basic life, medical, dental, vision, and long-term disability, with other optional additional coverages.
Paid time off including vacation, sick leave, short-term disability, and family-care responsibilities.
Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based awards, excluding certain sales roles subject to sales incentive plans.
Eligibility for certain tax-advantaged savings plans.
Flexible Work Programs and work-life support.
Paid volunteer days.
Matching gift programs.
Employee networks.
Development programs and educational support.