Investment Oversight, Assistant Vice President - State Street Investment Management

State Street • Boston, MA

13d • $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

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
• 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

Nice To Haves

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

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
• 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

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees