Loan Servicing, Senior Associate

State Street•Quincy, MA

8d•$52,000 - $84,760

About The Position

The Senior Associate supports Client Operations and other operational Shared Service teams and Centers of Excellence by monitoring and processing custody-related events accurately and promptly for fund records. The role follows up on exceptions and facilitates timely resolution to mitigate corporate risk and provide excellent client service. The position maintains records for syndicated bank loans in mutual fund and structured portfolios, processes trades and cash movements, reconciles cash balances, and produces portfolio holdings and accrual proofs. It prepares reporting for internal and external customers, responds to client queries, processes notices from agent banks, and works with investment managers on portfolio activity and client-specific reporting. The role also provides loan-related reports to mutual fund counterparts for final NAV calculations. The Senior Associate identifies and escalates unusual or potentially suspicious transaction activity in accordance with corporate policy and procedures. They research and resolve issues, manage ad hoc requests, escalate unresolved matters, support reporting and workflow management, follow standard operating procedures, assist with policy and procedure implementation and projects, suggest operational improvements, maintain knowledge of alternative processes, and support training of new hires as needed.

Responsibilities

Maintain daily records for syndicated bank loans held in mutual fund and other structured portfolios for SSC clients.
Process trades, and book receipts and disbursements.
Reconcile cash balances daily.
Produce daily roll-forward proofs of portfolio holdings and accrual information.
Prepare standard and ad hoc reports for internal and external customers.
Respond to customer queries and resolve inquiries accurately and promptly.
Process bank loan notices received from agent banks each day.
Work with investment managers on assigned portfolios, including inputting and settling trades, handling ad hoc requests, and providing daily reporting according to client-specific guidelines.
Provide loan-related reports to mutual fund counterparts for incorporation into final NAV calculations.
Identify unusual or potentially suspicious transaction activity and report or escalate it according to corporate policy and operating procedures.
Research and resolve exceptions and issues; escalate unresolved issues to management as required.
Define and ensure completion of ad hoc requests.
Perform daily or weekly reporting on team activities.
Adhere to Standard Operating Procedures and maintain knowledge of current alternative procedures and processes.
Assist management with implementing new policies and procedures and participate in projects.
Assist with workflow management and technology enhancements, and suggest ways to streamline operations.
Support training of new hires as necessary.
Perform other tasks as needed.