Bank Loans - Senior Associate

State Street • Quincy, MA

1d

About The Position

The Bank Loans Senior Associate supports Client Operations and operational Shared Service teams and Centers of Excellence by accurately and promptly monitoring and processing custody-related events for fund records. The role processes daily activity and maintains records for syndicated bank loans held in mutual fund and other structured portfolios for State Street clients, while resolving exceptions and helping mitigate operational risk and deliver strong client service.

The position works with investment managers and mutual fund counterparts to process and settle trades, handle bank loan notices, provide client-specific reporting, and supply loan-related reports for final NAV calculations. It also responds to client inquiries, completes ad hoc requests, supports operational controls and procedures, and assists with workflow improvements, technology enhancements, projects, and training.

Responsibilities

• Perform daily maintenance and recordkeeping for syndicated bank loans held in mutual fund and other structured portfolios.
• 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 accurately and promptly, communicating with clients when necessary.
• Process bank loan notices received from agent banks.
• Interact with investment managers on assigned portfolios, including inputting and settling trades, completing ad hoc requests, and providing daily reporting according to client-specific guidelines.
• Work with mutual fund counterparts and provide loan-related reports for final NAV calculations.
• Identify unusual or potentially suspicious transaction activity and report or escalate it according to corporate policy and operating procedures.
• Research and resolve exceptions and issues, and 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.
• Follow Standard Operating Procedures and maintain knowledge of current alternative procedures and processes.
• Keep up to date on broader internal and external business issues and apply knowledge across the team.
• Assist management with implementing policies and procedures and participate in projects.
• Assist with workflow management and technology enhancements and suggest ways to streamline operations.
• Support training of new hires as needed.
• Complete other tasks as needed.

Benefits

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

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed