Private Markets Custody Operations Associate 2

State Street•Quincy, MA

10d

About The Position

This is a unique opportunity to provide custody services for hedge funds and private equity firms. As a member of the Alternative Investment Services team you will support and assist the client and their designated investment managers with operational services on their custody portfolios.

Requirements

Strong computer competence (Microsoft Applications: Word Excel)
Aptitude for math
Strong oral communication and interpersonal skills
Strong accuracy aptitude and detail orientation
Ability to multi-task
Ability to work under pressure and within a deadline oriented environment

Nice To Haves

Associate’s degree with business coursework and related experience OR Bachelor’s degree with business coursework

Responsibilities

Reviews and validates all daily activity in an accurate and timely manner and maintains all required controls to ensure overall accuracy
Undertake routine tasks related to the monitoring and processing cash and custody events
Work in conjunction with individuals on the team other shared services/COEs India and Client Operations to ensure seamless processing of cash and custody events according to the fund’s policies
Support the research and resolution of exceptions and inquiries related to cash and custody events
Calculate cash availability in accordance with performance standards and client deadlines
May provide cash forecasting for clients based on a set of criteria described by the client and/or Investment Manager
Process all actual cash movements in the funds
Process cash sweep and short term investment transactions (repo commercial paper)
Post share and cash movement for subscriptions and redemptions
Post cash receipt/disbursement entries to custody and accounting records
Process all income inquiries and research unpaid items by deadline
Research and verify all interest variances and ensure that all pay downs are processed in a timely manner
Process expense payments and check requests as instructed by client
Reconcile custody to accounting cash & share records.
Document all exceptions and clear exceptions by deadline.
Elevates exceptions as required
Resolve discrepancies with Transfer Agent
Monitor all overdrafts and ensure that overdraft compensation is collected on a timely basis.
Ensure that cause of overdraft is accurately communicated while elevating potential issues to management
Process trade settlement information within deadlines and comply with all requirements
Book trades accurately and in a timely manner.
Communicates fail trade information as directed.
Reconcile outstanding items
Process collateral/assets segregated as instructed
Perform all weekly and biweekly proof activities
Maintain records in support of audits
May be required to communicate with clients to support trade processing
Remain familiar with back-up procedures when system applications and/or transmission problems arise
May be required to perform other duties as required
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

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.

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