ETF Basket Creation, Associate 2

State Street•Sacramento, CA

7d•Onsite

About The Position

The Associate II, Basket Operations supports the daily production, validation, and release of ETF creation and redemption baskets. This 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 closely 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.
0-2 years of operations experience within asset management, custody, fund accounting, or ETF servicing is a plus
Working knowledge of ETF primary‑market operations, basket mechanics, and corporate actions preferred.
Strong attention to detail and control‑oriented mindset.
Ability to manage time‑sensitive deliverables in a high‑volume environment.
Solid analytical and problem‑solving skills with clear escalation judgment.
Effective written and verbal communication; strong collaboration skills.
Proficiency with operational platforms, Excel, and standard productivity tools.

Responsibilities

Produce, review, and validate daily ETF baskets, including cash components, interest factors, and other income adjustments, prior to release and approval
Execute and evidence required control checks (e.g., basket review macros, early/late index comparisons) and escalate exceptions in a timely manner.
Process and review corporate action impacts on baskets (e.g., splits, mergers, delistings) and ensure standing instructions are accurately applied.
Input and review Cash‑in‑Lieu (CIL) adjustments in accordance with client instructions and procedural controls.
Adhere to documented procedures, AML escalation standards, and risk controls to prevent financial or reputational impact.
Maintain accurate documentation, checklists, and evidence to support audits and management review.
Coordinate with internal partners (ETF Leads, Trading, Pricing, Settlements, Technology) to resolve issues and support launches, liquidations, and fund changes.
Identify process improvements and participate in training and knowledge‑sharing initiatives.

Benefits

competitive and comprehensive benefits packages
generous medical care
insurance
savings plans
flexible Work Programs
development programs
educational support
paid volunteer days
matching gift programs
access to employee networks
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
eligibility for certain tax advantaged savings plans