Core Operations Associate 2

State Street•Sacramento, CA

1d•$41,600 - $66,560

About The Position

A Derivative Operations Specialist, Associate 2, accurately posts domestic and foreign derivatives—including swaps, futures, options, and collateral transactions—to Custody and Accounting systems. The role resolves data-quality issues by interacting with accounting and client service groups in North America and Europe, serves as a first-level resource within the assigned business unit, and processes transactions according to established procedures. It also performs daily business-unit tasks and other related duties as needed. The position processes derivative activity through the OTC HUB application, reconciles cash- and position-related transactions with Prime Brokers and clients, and researches and escalates discrepancies. It applies knowledge of complex investment strategies and corporate actions, supports exception resolution and client reporting, maintains audit records, and identifies and reports unusual or potentially suspicious transaction activity in accordance with company policy. State Street describes its benefits as including retirement savings, insurance coverage, paid time off, incentive compensation eligibility, employee assistance, flexible work support, educational and development programs, and paid volunteer days. The listed salary range is $41,600–$66,560 annually for the primary location; the applicable range may differ for other work locations.

Requirements

Bachelor’s degree with business-related coursework or a B.S. degree in Accounting or Finance is preferred.
Strong computer competence, including Microsoft Word and Excel.
Accuracy and attention to detail.
Strong interpersonal skills.
Strong verbal and written communication skills.
Ability to multitask.
Ability to work under pressure and within a deadline-oriented team.

Responsibilities

Use the OTC HUB application to process derivative transactions, including trade posting, dividend accruals and payments, corporate-action processing, security pricing, and derivative-ledger processing.
Reconcile cash- and position-related transactions with Prime Brokers and clients daily; promptly research and escalate discrepancies.
Apply conceptual knowledge of complex investment strategies, including CFDs, Credit Default Swaps, Interest Rate Swaps, Basket Swaps, Total Return Swaps, and options.
Coordinate with team members, shared services/COEs, and Client Operations to support processing in accordance with fund policies.
Support research and resolution of exceptions and inquiries, establish Prime Broker relationships, and liaise as needed to resolve exceptions.
Provide Client Operations with COE-related information needed to prepare accurate and timely financial statements and reports for clients, shareholders, directors, and management.
Develop and apply knowledge of corporate-action types, requirements, timelines, and potential effects on fund asset values.
Maintain records in support of audits.
Identify unusual or potentially suspicious transaction activity and report or escalate it in accordance with corporate policy and relevant operating procedures.
Perform other duties as requested.

Benefits

Retirement savings plan 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 access.
Eligibility for annual performance-based incentive awards, with certain sales-role exceptions.
Eligibility for certain tax-advantaged savings plans.
Flexible Work Program and work-life support.
Development programs and educational support.
Paid volunteer days.
Matching gift program.
Employee networks.