Reconciliation - Senior Associate

1 week ago

Hyderabad, Telangana, India myGwork Full time

This job is with State Street, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Job Description

Who we are looking for:

This dynamic role which requires good understanding of equities, fixed income, Securities Lending and borrowing business, collateral management & reconciliation.

The business requires constant interaction with multiple stakeholders namely Trading Desk, Borrowers, Internal teams

The major responsibilities will be:

1.  Cash and Non-Cash reconciliation

5. DUCO, Pirum and Equilend platform awareness 

6. Tri resolve platform

Why this role is important to us:

The team you will be joining is a part of State Street Global Markets (SSGM) reconciliation . 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:

Performs several or all the following duties based on assigned desk (domestic, international) and/or product(s):

  • Perform daily reconciliation of securities transactions, cash, positions ,Cash & position and stock lending/borrowing activities.
  • Investigate trade breaks and discrepancies between internal ledgers and external counterparties.
  • Assigning the breaks to corresponding team to resolve the breaks in timely manner.
  • Liaise with trading desks, operations teams, and external parties to resolve reconciliation issues.
  • Reviews contract compare records, DDA's to validate positions/cash breaks with multiple Internal teams and external counterparties.
  • Assists business area with inquiries pertaining to transactional activity; coordinates response with counterparties , traders, corporate actions teams and other internal teams.
  • Ensure timely resolution of counterparty issues including all break types (Rate,Fee, Quantity, Orphan, etc). while keeping management informed of any potential issues.
  • Utilize reconciliation tools (e.g., DUCO, Equilend, Pirum, etc.,) to automate and improve processes.
  • Identifies and analyzes operations risks related to current and potential business and recommends procedural changes/improvements as needed

What we value:

These skills will help you succeed in this role:

  • Strong knowledge of Agency/Principle Security lending business, Capital markets and Equities
  • Strong communication, interpersonal, organizational, and time management skills
  • Deadline and detail oriented
  • Demonstrated computer proficiency, including advanced knowledge of MS Excel, as well as problem solving and analytical skills
  • Should be flexible to work in US (6:30 PM - 3:30 AM IST) shift

Shift Timing:

6:30 PM - 3:30 AM IST

  • Work Location:

Hyderabad / Bangalore

Education & Preferred Qualifications:

  • University degree in Business majoring in Accounting, Finance, or other Financial-related programs
  • Overall experience of 3+ years in Trade Settlements, Mark to Market and Collateral Management (NA/EMEA markets) process & Reconciliation process
  • Investment Banking, Agency/Principal Lending, Custodial Services, Financial Markets knowledge is must. 
  • Certifications: certifications like NSE Certification in Financial Markets (NCFM), NSE Certified Capital Market Professional (NCCMP) etc. will be an added advantage but not mandatory.

Secondary Skills (Good to Have)

  • Exposure to Equilend, MCH, and DTC applications

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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program 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 perspective 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 the 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 program 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.

Discover more at StateStreet.com/careers

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