Investment Oversight Analyst, VP I - State Street Investment Management

State Street•Boston, MA

About The Position

Investment Oversight Analyst, VP, will provide investment oversight support for the investment management and other functions of SSIM and SSIM Funds Management, Inc. The ideal candidate will have subject matter expertise in all asset classes but primarily Collateralized Loan Obligation (CLO) and Private Credit asset types. The candidate must have a proven experience in implementing and monitoring client and regulatory guidelines as well as trade oversight on these products. This role will report into North America Head of Investment Oversight. Private Credit and Collateralized Loan Obligation (CLO) projects responsibilities: Get familiarity with the current infrastructure and identify additional needs to effectively monitor private credit and CLO investments Clearly communicate any missing data or system requirements to IT, data and vendor teams that will lead to effective monitoring of private credit and CLO investments Set up guideline rules to monitor Private Credit and CLO investments Clearly communicate IT, data and system requirements to IT, data and system teams that will lead to coding rules to monito these asset classes Coaching the team on the nuance of the asset classes and the workflows In addition to these, the candidate will also have the below broader Investment Oversight responsibilities: Investment Oversight Responsibilities: Reading governing documents such as Fund Regulatory governing documents and Investment Management Agreements; identifying and resolving interpretive issues, and reviewing investment restrictions; Extracting compliance restrictions from governing documents for new accounts and amendments, and coding those restrictions into the compliance systems; Completing required new account/amendment documentation, including obtaining all necessary signatures, prior to effective date; Developing, testing, and implementing automated rules within the monitoring systems (Sentinel, CRD, Bloomberg, Aladdin and Virtus) and manual monitoring procedures for non-automated rules; Performing pre and post trade compliance monitoring for all asset classes on commingled funds, separately managed accounts, and registered funds; Analyzing compliance breach trends, identify root causes, and resolve potential systemic issues, including recommending process design improvements and operational efficiencies Lead projects with IT, Data, and system vendors to identify ways to further enhance automation in the compliance systems; This includes but is not limited to: Assist in coding and testing rules in the compliance module Assist in coding Broker rules and broker module rule maintenance Review fund assignments and coding standards for go-live readiness Partner with PM teams on CUAT testing/support of compliance rules Aid in the continued gathering/maintenance of IO business requirements Aid in the continued support and analysis of IO data asks/mappings Unit and integration testing of compliance rules Assist in the development of solutions to address business requirements Drive and assist in various testing activities: Develop and refine effective and appropriate test cases for unit and regression testing Execution of unit and regression tests Remediation of issues identified in testing Provide production expertise and support Bridge gap between business, IT, and compliance vendors for business support Manage and provide support to completion of new account/amendment onboarding process to ensure that appropriate reviews and sign-offs are timely obtained Tracking new account and amendment onboarding status, providing reporting and updates to management; Manage and provide support to completion of new account/amendment onboarding process to ensure that appropriate reviews and sign-offs are timely obtained Tracking new account and amendment onboarding status, providing reporting and updates to management; Developing or enhancing policies and procedures related to compliance processes, with a focus on establishing globally consistent best practices; Lead reviews with internal and external auditors to facilitate controls reviews; Lead in Project work (reviewing regulatory fund docs, compliance system coding/testing, etc..) Conduct client/local regulator meetings

Requirements

Ability to work under pressure
Ability to read governing compliance documents such as IMAs and Prospectus/SAI
Demonstrated communication and interpersonal skills
Strong analytical skills and organizational skills
Attention to detail
Ability to work independently and collaboratively with various levels of the organization
Strong work ethic
10+ years’ experience in the investment management field including experience in investment portfolio compliance or other areas of compliance
Compliance Platform (Sentinel/CRD) hands on rule coding experience
Proficient in Bloomberg
Proficient in Microsoft Word and Excel
Knowledge of local regulations as it pertains to rule coding and monitoring of accounts

Nice To Haves

Bachelor's degree in Finance, Accounting or Economics is preferred

Responsibilities

Get familiarity with the current infrastructure and identify additional needs to effectively monitor private credit and CLO investments
Clearly communicate any missing data or system requirements to IT, data and vendor teams that will lead to effective monitoring of private credit and CLO investments
Set up guideline rules to monitor Private Credit and CLO investments
Clearly communicate IT, data and system requirements to IT, data and system teams that will lead to coding rules to monito these asset classes
Coaching the team on the nuance of the asset classes and the workflows
Reading governing documents such as Fund Regulatory governing documents and Investment Management Agreements; identifying and resolving interpretive issues, and reviewing investment restrictions
Extracting compliance restrictions from governing documents for new accounts and amendments, and coding those restrictions into the compliance systems
Completing required new account/amendment documentation, including obtaining all necessary signatures, prior to effective date
Developing, testing, and implementing automated rules within the monitoring systems (Sentinel, CRD, Bloomberg, Aladdin and Virtus) and manual monitoring procedures for non-automated rules
Performing pre and post trade compliance monitoring for all asset classes on commingled funds, separately managed accounts, and registered funds
Analyzing compliance breach trends, identify root causes, and resolve potential systemic issues, including recommending process design improvements and operational efficiencies
Lead projects with IT, Data, and system vendors to identify ways to further enhance automation in the compliance systems
Assist in coding and testing rules in the compliance module
Assist in coding Broker rules and broker module rule maintenance
Review fund assignments and coding standards for go-live readiness
Partner with PM teams on CUAT testing/support of compliance rules
Aid in the continued gathering/maintenance of IO business requirements
Aid in the continued support and analysis of IO data asks/mappings
Unit and integration testing of compliance rules
Assist in the development of solutions to address business requirements
Develop and refine effective and appropriate test cases for unit and regression testing
Execution of unit and regression tests
Remediation of issues identified in testing
Provide production expertise and support
Bridge gap between business, IT, and compliance vendors for business support
Manage and provide support to completion of new account/amendment onboarding process to ensure that appropriate reviews and sign-offs are timely obtained
Tracking new account and amendment onboarding status, providing reporting and updates to management
Developing or enhancing policies and procedures related to compliance processes, with a focus on establishing globally consistent best practices
Lead reviews with internal and external auditors to facilitate controls reviews
Lead in Project work (reviewing regulatory fund docs, compliance system coding/testing, etc..)
Conduct client/local regulator meetings

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.
For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

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