Settlement Operations, Global Markets -Senior Associate

State Street Corporation
Boston, USA
31 Mar 2023
30 Apr 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Who we are looking for

Manages the completion of the SSGM settlement operations groups daily responsibilities as relates to Global Markets multi asset class activities - responsible for a specific department ensuring work is completed within deadlines, accurately, consistently and adheres to procedures to minimize risk. Provides guidance and direction for a specific Operations department(s) - ensures strategic projects are carried out, executes robust management and controls to minimize risks, implements new processes effectively to create operational efficiencies and delivers a high level of service.

Why this role is important to us

The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM's number one goal is to enhance and preserve our clients' portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.

Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

What you will be responsible for

As Settlement Operations, Global Markets Senior Associate you will

• Coordinate settlements for institutional clients for both international equity and fixed income transaction products

• Promotes, creates and implements policies and procedures.

• Coordinate resolution of trade settlement discrepancies with counterparties.

• Manage TMPG claim resolution with executing brokers

• Manage aged fails, update status reports based on correspondence with counterparties,

• Work with trade processing to correct trade records as needed to mitigate failed trades.

• Reconcile daily activity within firm accounts

• Contributes to Operations strategy and product development for the group

• Interfaces with technology and product development to ensure future system changes/enhancements are fully tested and documented

• Very good understanding of financial market activities and transactions

• Very strong problem solving, customer service, communication, and organizational skills

• Creating and analyzing new methods to proactively identify discrepancies in data

• Serves as an expert resource on operational needs for the group

• Interfaces with traders, Compliance, Operations and other areas within SSGM to ensure efficient business flows and controls exist for the group

• Escalation point for resolution of queries from external and internal groups for your department

• Business continuity responsibility for the group - oversees offsite testing and updates to BCP plans and procedures

• Participates in internal committees or industry groups to promote operational efficiencies and enhance knowledge

• Leverages/promotes use of technology to achieve operational efficiencies, mitigate operational risks, and reduce operating costs

• Works with management to ensure favorable audit ratings.

Education & Preferred Qualifications

• Bachelor's degree or equivalent

• Minimum 2+ years' experience working in the financial industry /brokerage

• Ability to proactively identify, analyze and solve problems

• Proven leadership skills

• Proven time management skills

• Ability to manage under pressure, work under deadlines and deal with high volumes of work

• Proven communication skills - written and verbal

• Demonstrates an aptitude for learning and development - identifying & addressing departments needs

• Ability to think creatively, solve problems, promote solutions

• Proven industry systems and best practice knowledge

• Advanced knowledge in Microsoft products, excel, power point, access

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

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.

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