Core Operations, Senior Associate

State Street•Quincy, MA

About The Position

We seek a Senior Associate to join the Investable Cash – Cash Sweep Support team. The primary responsibilities include onboarding new accounts and products to the Cash Sweep Application, conducting daily control reviews of sweep investment packages, and ensuring accurate processing of omnibus transactions with money market fund managers. The role requires maintaining and verifying daily transaction postings in our shareholder system and trade portal, Fund Connect. The Senior Associate will also provide coverage for sweep investment processing and act as backup for the daily manager as needed. Strong reconciliation skills, proficiency in custody, accounting, and effective communication are essential. The ability to operate in a time-sensitive environment and assess risk on high-value transactions is critical. Why This Role Matters This team is part of State Street Global Delivery, which provides asset owners and managers with essential financial tools for effective investment solutions. Our services span custody, accounting, fund administration, shareholder recordkeeping, and operations for alternative assets. Joining this team offers the opportunity to make an immediate impact in the financial services industry. About State Street What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients. Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential. Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you. About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success. We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

Requirements

Excellent verbal and written communication skills
Strong custody, cash, and reconciliation expertise
Proficiency in MCH custody functions, and wire systems
Ability to work effectively in a time-critical environment
Experience with Cash Projector and Cash Sweep Applications
Minimum 3 years in custody/cash-related roles
Knowledge of Cash Sweep, Hogan, VMW, MCH custody functionality, ETD, Fund Connect
Bachelor’s degree in Business Management or equivalent preferred

Responsibilities

Support client service and operational teams in onboarding new client cash sweep applications
Perform daily control reviews to ensure accuracy and timeliness of sweep investment packages
Assist both onshore and offshore teams in daily sweep investment coverage and shareholder system maintenance
Resolve inquiries from internal customers and operational support teams
Reconcile and resolve daily cash and share position breaks
Assist management with month-end processing and audit deliverables

Benefits

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

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