The Importance of the Role in Alternative Investment Services Bank Loans Operations
In the dynamic financial services industry, every role plays a critical part in delivering effective solutions. One of the key positions that contribute significantly to the smooth functioning and growth of the industry is that of the Senior Associate in the Alternative Investment Services Bank Loans Operations. This role is all about providing asset owners and managers the essential financial tools needed to deliver effective investment solutions, making it a vital cog in the financial wheel.
From core custody, accounting, fund administration, shareholder recordkeeping to complete operations solutions and servicing for alternative assets such as OTC derivatives, private equity, and real estate, the services offered by the Senior Associate are manifold. These tools help clients make better investment choices and act on growth opportunities. This role is a perfect fit for those who are passionate about making their mark in the financial services industry from day one.
Key Responsibilities of the Role
As the Senior Associate in Alternative Investment Services Bank Loans Operations, the ideal candidate will be responsible for supporting and assisting Client Operations and other operational Shared Service teams. The role requires monitoring and processing custody related events to the fund’s records accurately and in a timely manner. It’s all about ensuring prompt follow up on exception situations and facilitating timely problem resolution to mitigate risk to the corporation and deliver excellent service to clients.
The responsibilities of the role range from performing daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients, to processing new trades and trade settlements on accounting records. The role also includes daily reconciliation of cash balances, producing daily roll-forward proof of portfolio holdings and accrual information, and preparing standard and ad hoc reporting for both internal and external customers.
Responding to customer queries on a daily basis, processing bank loan notices as received from agent banks, interacting with the Investment Manager on their assigned portfolios, and working closely with their mutual fund counterpart are other key tasks. The individual will also be responsible for identifying any unusual or potentially suspicious transaction activity, escalating unresolved issues to management as required, and assisting with workflow management and technology enhancements.
Skills Needed for Success
Successful performance in this role requires strong critical thinking, problem-solving, and decision-making skills. Strong interpersonal skills and ethical decision-making are also essential, along with the ability to work in a team environment with an emphasis on collaboration with both clients and other internal service teams.
Education & Preferred Qualifications
A BS/BA degree is required for this role, along with a minimum of 1-3 years of related experience, preferably in the financial services industry. Experience in working with Bank Loan asset class is essential, along with proficiency with Wall Street Office (WSO).
Compensation and Employee Benefits
The salary range for this role is $52,000 – $94,120 annually. In addition, 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 the Employee Assistance Program, incentive compensation, and eligibility for certain tax advantaged savings plans.
For a more in-depth look at the comprehensive benefits program, visit the official State Street HR portal here.
About State Street
State Street is a global financial institution that provides a broad range of products and services to institutional investors. The company is committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an Equal Opportunity Employer, they consider 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, visit their careers page here.
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Application Disclosure
Please note that it is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. Any employer who violates this law shall be subject to criminal penalties and civil liability.
For more details on the role and to apply, click here.
