Investment Oversight, Assistant Vice President - State Street Investment Management

State Street•Boston, MA

21h•$80,000 - $140,000

About The Position

Investment Oversight Analyst will provide investment oversight support for the investment management and other functions of SSIM and SSIM Funds Management, Inc. The Investment Oversight team is responsible for supporting investment compliance, including the monitoring of regulatory requirements and client-specific guidelines, trade oversight, and client reporting, as well as other specialized areas of compliance. Why this role is important to us The team you will be joining is a part of State Street Investment Management (formerly State Street Global Advisors), one of the biggest asset managers in the world, that provides services to the world’s governments, institutions and financial advisors across the globe. With over four decades of experience and trillions of dollars in assets under management, we offer one of the broadest selections of services across asset classes, risk profiles, regions and styles. As pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. Join us if making your mark in the asset management industry from day one is a challenge you are up for. What you will be responsible for 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; Coding, testing, and implementing automated rules within the monitoring systems (ION Sentinel, Charles River Compliance, Blackrock Aladdin and Bloomberg) 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; Analyze 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 system; This includes but is not limited to: Identify the gaps in the current platforms and create procedures to close the gap Raise the data, platform requirements with the IT team - provide detailed requirements, participate in design discussion, create testing procedures, execute test cases and ensure successful closure of the gaps 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 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 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; Executing and enhancing policies and procedures related to compliance processes on a timely basis 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 What we value These skills will help you succeed in this role Perform well under pressure Prior proven experience in reviewing and interpreting IMAs and Prospectus/SAI Prior proven experience in coding the guidelines and reviewing pre and post-trade guideline failures in atleast 2 of the 4 systems (CRIMS, Sentinel, Aladdin, Bloomberg) Strong communication and interpersonal skills Excellent analytical skills and organizational skills Detail-Oriented with high level of accuracy Effective working in both independent and team-based work environment Open to feedback and continuous improvement Self Starter who can work with minimal to no supervision Education & Preferred Qualifications Bachelor's degree in Finance, Accounting or Economics is preferred 5-8 years’ experience in the investment management field including experience in investment portfolio compliance or other areas of compliance Prior proven experience in rule coding and monitoring in atleast 2 of the 4 platforms (CRIMS, Sentinel, Aladdin or Bloomberg) Proficient in Bloomberg Proficient in Microsoft Word and Excel Knowledge of local regulations as it pertains to rule coding and monitoring of accounts 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. State Street is an equal opportunity and affirmative action employer. Discover more at StateStreet.com/careers Salary Range: $80,000 - $140,000 Annual The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ. 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. 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. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement Job Application Disclosure: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability. 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. As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law. Discover more information on jobs at StateStreet.com/careers Read our CEO Statement

Requirements

Perform well under pressure
Prior proven experience in reviewing and interpreting IMAs and Prospectus/SAI
Prior proven experience in coding the guidelines and reviewing pre and post-trade guideline failures in atleast 2 of the 4 systems (CRIMS, Sentinel, Aladdin, Bloomberg)
Strong communication and interpersonal skills
Excellent analytical skills and organizational skills
Detail-Oriented with high level of accuracy
Effective working in both independent and team-based work environment
Open to feedback and continuous improvement
Self Starter who can work with minimal to no supervision
Bachelor's degree in Finance, Accounting or Economics is preferred
5-8 years’ experience in the investment management field including experience in investment portfolio compliance or other areas of compliance
Prior proven experience in rule coding and monitoring in atleast 2 of the 4 platforms (CRIMS, Sentinel, Aladdin or Bloomberg)
Proficient in Bloomberg
Proficient in Microsoft Word and Excel
Knowledge of local regulations as it pertains to rule coding and monitoring of accounts

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
Coding, testing, and implementing automated rules within the monitoring systems (ION Sentinel, Charles River Compliance, Blackrock Aladdin and Bloomberg) 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
Analyze 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 system; This includes but is not limited to: Identify the gaps in the current platforms and create procedures to close the gap Raise the data, platform requirements with the IT team - provide detailed requirements, participate in design discussion, create testing procedures, execute test cases and ensure successful closure of the gaps 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 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
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
Executing and enhancing policies and procedures related to compliance processes on a timely basis 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

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)
eligibility for certain tax advantaged savings plans

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