Fund Accounting
6 days ago
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $33.99 trillion in assets under custody and administration and $2.81 trillion* in assets under management as of September 30, 2018, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Streetâs website at www.statestreet.com.
*This figure is presented as of September 30, 2018 and includes approximately $28 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
Job Description
Responsibilities:
Manage the day-to-day activities of a functional/oversight team by monitoring, reviewing and validating all daily activity to ensure accuracy and timeliness in calculations and processing, as well as adherence to controls, e.g. ensuring accurate g/l and/or balance for daily pricing
â¢Undertake the following, with a goal of 100% accuracy, timeliness and completeness:
â¢Calculate and validate a daily and/or weekly and/or monthly Net Asset Value (NAV) for your assigned funds
â¢Assist and train others in your team with their NAV calculation and problem resolution
â¢Design and implement operational efficiencies
⢠Provide timely accurate management reporting and issue log maintenance, under moderate supervision
⢠Research and resolve exceptions and issues
⢠Escalate unresolved issues to management as required
⢠Reconcile and resolve discrepancies with other Shared Service teams, external clients and Client Operations as needed
⢠Ensure all inquiries are resolved in a timely and accurate manner and communicates effectively with client when necessary
⢠Ensure appropriate records of daily and monthly activities are kept ⢠Coordinate effective and timely flow of critical information to all relevant parties and follows up on administrative details within the department
⢠Oversee the adherence to Standard Operating Procedures
⢠Maintain knowledge of current alternative procedures and processes
⢠Assist with workflow management and technology enhancement, make suggestions to streamline operations
⢠Document any updates or changes to formal procedures, databases, etc.
⢠Participate in projects as well as prepare and verify information for those various projects/special requests as directed
⢠Train, develop and motivate new staff and complete performance appraisals
⢠Provide staffing recommendations by interviewing new personnel
⢠Coordinate and supervise work efforts when multiple Associates are needed to complete work
⢠Provide coaching and development opportunities to staff, participate in individual on-going training and development
⢠Has accountability and responsibility for completing and delivering PPRs on time
⢠Make effective recommendations to hire, discipline, control work and terminate employment
⢠Make effective recommendations for promotions, salary increases and bonuses.
⢠During the course of normal day to day operations, 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.
⢠Perform duties of Associates if required, perform other duties as assigned.
Experience Requirements:
⢠Minimum of 3-4 years of Fund Accounting experience
- Knowledge of securities language and legal requirements.
⢠Good interpersonal and organizational skills.
⢠Some understanding of operational functions within Hedge / Mutual Fund Accounting.
Education Requirements:
â¢Novice to Competent with a Bachelorâs degree or equivalent work experience with a focus in Accounting, Economics, Finance, Technical or related field preferred.
â¢Proficient with Microsoft Office Products (Excel, Word)
⢠Night shifts
â¢Excellent communication, organization, interpersonal planning, and analytical skills
â¢Deadline and detail oriented
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