Loan Servicing, Senior Associate

State Street•Quincy, MA

3d•Onsite

About The Position

As a Bank Loan Specialist, Senior Associate, the ideal candidate will support and assist Client Operations and other operational Shared Service teams/ Center of Excellence (COE’s) by monitoring and processing custody related events to the fund’s records accurately and timely. Ensure prompt follow up on exception situations and facilitate timely problem resolution to mitigate risk to the corporation and deliver excellent service to clients.

Requirements

Bank Loan Specialist, Senior Associate experience
Support and assist Client Operations and other operational Shared Service teams/ Center of Excellence (COE’s)
Monitoring and processing custody related events to the fund’s records accurately and timely
Prompt follow up on exception situations
Facilitate timely problem resolution to mitigate risk to the corporation and deliver excellent service to clients
Daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients
Processing trades, booking receipts and disbursements
Daily reconciliation of cash balances
Producing daily roll-forward proof of portfolio holdings and accrual information
Preparing standard and ad hoc reporting for both internal and external customers
Responding to customer queries on a daily basis
Daily processing of bank loan notices as received from agent banks
Interact with the Investment Manager on their assigned portfolios, inputting/settling trades, performing ad hoc requests and providing daily reporting per client specific guidelines
Work closely with their mutual fund counterpart, providing Loan related reports to be incorporated into the final NAV Calculation.
Identify any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures
Research and resolve exceptions and issues
Receive and resolve inquiries in a timely and accurate manner and communicates effectively with client when necessary
Define and ensure successful completion of ad-hoc requests
Escalate unresolved issues to management as required
Perform daily or weekly reporting functions for the team’s activities
Ensure adherence to Standard Operating Procedures
Keep up to date on broader internal/external business issues; applies knowledge across team
Assist management in the implementation of new policies and procedures, participates in projects
Assist with workflow management and technology enhancements., make suggestions to streamline operations
Maintain knowledge of current alternative procedures and processes
Support training of new hires as necessary
Other tasks as needed.

Responsibilities

Performs daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients
Processing trades, booking receipts and disbursements
Daily reconciliation of cash balances
Producing daily roll-forward proof of portfolio holdings and accrual information
Preparing standard and ad hoc reporting for both internal and external customers
Responding to customer queries on a daily basis
Daily processing of bank loan notices as received from agent banks
Interact with the Investment Manager on their assigned portfolios, inputting/settling trades, performing ad hoc requests and providing daily reporting per client specific guidelines
The individual will work closely with their mutual fund counterpart, providing Loan related reports to be incorporated into the final NAV Calculation.
During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures
Research and resolve exceptions and issues
Receive and resolve inquiries in a timely and accurate manner and communicates effectively with client when necessary
Define and ensure successful completion of ad-hoc requests
Escalate unresolved issues to management as required
Perform daily or weekly reporting functions for the team’s activities
Ensure adherence to Standard Operating Procedures
Keep up to date on broader internal/external business issues; applies knowledge across team
Assist management in the implementation of new policies and procedures, participates in projects
Assist with workflow management and technology enhancements., make suggestions to streamline operations
Maintain knowledge of current alternative procedures and processes
Support training of new hires as necessary
Other tasks as needed.

Benefits

competitive and comprehensive benefits packages
generous medical care
insurance
savings plans
flexible Work Programs
wealth of 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