The Significance of the Role in Private Credit
At the core of the Private Credit team at State Street Global Services (SSGS), the role of a Private Credit Bank Loan Specialist, Senior Associate is crucial. SSGS is an industry leader that provides asset owners and managers with essential financial tools, enabling them to deliver effective investment solutions. The company’s broad range of services includes core custody, accounting, fund administration, and shareholder recordkeeping, among others. Furthermore, SSGS offers complete operations solutions and servicing for alternative assets, including OTC derivatives, private equity, and real estate. These tools empower our clients to make informed investment choices and seize growth opportunities.
The individual who accepts this role will have the chance to leave a significant mark in the financial services industry from day one. This opportunity is perfect for a professional who is prepared for a challenge and ready to make a difference.
Key Responsibilities of a Private Credit Bank Loan Specialist, Senior Associate
As a Private Credit Bank Loan Specialist, Senior Associate, the ideal candidate will assist Client Operations and other operational Shared Service teams/Center of Excellence (COE’s) in monitoring and processing custody related events precisely and promptly. The role involves ensuring swift follow-ups on exception situations and facilitating timely problem resolution to mitigate risk to the corporation and provide excellent service to clients.
The responsibilities of the role are extensive and include daily maintenance and record keeping for Syndicated Bank Loans, processing trades, booking receipts and disbursements, and daily reconciliation of cash balances. Other tasks include producing daily roll-forward proof of portfolio holdings and accrual information, preparing standard and ad hoc reporting for both internal and external customers, and responding to customer queries daily.
The successful candidate will also be responsible for processing bank loan notices as received from agent banks and interacting with the Investment Manager on their assigned portfolios. During the course of normal day-to-day operation, the individual will 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.
Other duties include researching and resolving exceptions and issues, defining and ensuring successful completion of ad-hoc requests, escalating unresolved issues to management as required, and performing daily or weekly reporting functions for the team’s activities. The individual will also support training of new hires as necessary, among other tasks.
Education & Preferred Qualifications
The preferred qualifications for this role include a BS degree (or equivalent) in Finance, Business or a related field.
Salary and Benefits
The annual salary range for this role is $52,000 – $94,120. This value may vary if the candidate were to work outside of the primary location. Employees are eligible to participate in State Street’s comprehensive benefits program, which includes a retirement savings plan (401K) with company match, insurance coverage, paid-time off, access to our Employee Assistance Program, and more.
About State Street
State Street is a global institution that institutional investors rely on to help manage risk, respond to challenges, and drive performance and profitability. The company is committed to fostering an environment where every employee feels valued and empowered to reach their full potential. It is an equal opportunity employer, considering all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
For more information on jobs at State Street, you can visit their careers page Here.
