Bank Loans - Senior Associate

State Street•Quincy, MA

1d•$52,000 - $94,120

About The Position

The Bank Loans - Senior Associate supports Client Operations and other operational Shared Service teams and Centers of Excellence by monitoring and processing custody-related events accurately and promptly in fund records. The role follows up on exceptions and facilitates timely issue resolution to mitigate corporate risk and deliver excellent client service. The position maintains records for syndicated bank loans held in mutual fund and other structured portfolios for SSC clients. It processes trades, receipts, disbursements, and bank loan notices; reconciles cash; produces portfolio-holdings and accrual proofs; and prepares standard and ad hoc reports. The Senior Associate responds to customer inquiries, works with investment managers on assigned portfolios, and provides loan-related reporting to mutual fund counterparts for final NAV calculations. The role also researches exceptions, resolves inquiries, escalates issues as required, supports daily or weekly team reporting, and ensures compliance with Standard Operating Procedures. It assists management with policy and procedure implementation and projects, contributes ideas for workflow and technology improvements, maintains knowledge of current procedures, and supports training of new hires. The employee must identify unusual or potentially suspicious transaction activity and report or escalate it under corporate policies and operating procedures.

Responsibilities

Monitor and process custody-related events accurately and promptly in fund records.
Follow up on exceptions and facilitate timely problem resolution to mitigate corporate risk and provide excellent client service.
Maintain daily records for syndicated bank loans held in mutual fund and other structured portfolios for SSC clients.
Process trades and book receipts and disbursements.
Reconcile cash balances daily.
Produce daily roll-forward proofs of portfolio holdings and accrual information.
Prepare standard and ad hoc reports for internal and external customers.
Respond to customer queries and resolve inquiries in a timely and accurate manner, communicating with clients when necessary.
Process bank loan notices received from agent banks.
Interact with investment managers on assigned portfolios, input and settle trades, fulfill ad hoc requests, and provide daily reporting according to client-specific guidelines.
Provide loan-related reports to mutual fund counterparts for incorporation into final NAV calculations.
Identify unusual or potentially suspicious transaction activity and report or escalate it according to corporate policy and relevant operating procedures.
Research and resolve exceptions and issues; escalate unresolved issues to management as required.
Define and ensure successful completion of ad hoc requests.
Perform daily or weekly reporting functions for team activities.
Ensure adherence to Standard Operating Procedures and maintain knowledge of current alternative procedures and processes.
Assist management with implementing new policies and procedures and participate in projects.
Assist with workflow management and technology enhancements, including suggesting ways to streamline operations.
Support training of new hires as necessary.
Perform other tasks as needed.

Benefits

Competitive and comprehensive benefits packages, varying by location.
Medical care, insurance, and savings plans.
Flexible Work Programs.
Development programs and educational support.
Paid volunteer days.
Matching gift programs.
Employee networks.
401(k) retirement savings plan with company match.
Basic life, medical, dental, vision, long-term disability, and optional insurance coverage.
Paid time off, including vacation, sick leave, short-term disability, and family care responsibilities.
Employee Assistance Program.
Eligibility for annual performance-based incentive compensation awards.
Eligibility for certain tax-advantaged savings plans.