Alternative Investment Services Bank Loans Operations, Senior Associate

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.

Why this role is important to us

The team you will be joining is a part of Alternative Investment Services Bank Loans Operations. Private Credit gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS' tools help our clients make better investment choices and act on growth opportunities.

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

What you will be responsible for

As an Alternative Investment Services Bank Loans Operations, Senior Associate, the ideal candidate will support and assist Client Operations and other operational Shared Service teams / Center of Excellence (COE's) by monitoring and processing custody related events to the fund's records accurately and timely.

Ensure prompt follow up on exception situations and facilitate timely problem resolution to mitigate risk to the corporation and deliver excellent service to clients.

Performs daily maintenance and record keeping for Syndicated Bank Loans held in various Mutual Fund and other Structured portfolios for various SSC clients

Processing new trades and trade settlements on accounting records

Daily reconciliation of cash balances

Producing daily roll-forward proof of portfolio holdings and accrual information

Preparing standard and ad hoc reporting for both internal and external customers

Responding to customer queries on a daily basis

Daily processing of bank loan notices as received from agent banks,

Interact with the Investment Manager on their assigned portfolios, performing ad hoc requests and providing daily reporting per client specific guidelines

The individual will work closely with their mutual fund counterpart, providing Loan related reports to be incorporated into the final NAV Calculation.

During the course of normal day to day operation, 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

Research and track resolution exceptions and issues

Receive and resolve inquiries in a timely and accurate manner and communicates effectively with client when necessary

Define and ensure successful completion of ad-hoc requests

Escalate unresolved issues to management as required

Perform daily or weekly reporting functions for the team's activities

Ensure adherence to Standard Operating Procedures

Keep up to date on broader internal / external business issues; applies knowledge across team

Assist management in the implementation of new policies and procedures, participates in projects

Assist with workflow management and technology enhancements., make suggestions to streamline operations

Maintain knowledge of current alternative procedures and processes

Support training of new hires as necessary

Other tasks as needed.

What we value

These skills will help you succeed in this role

Strong critical thinking, problem solving, and decision making skills

Strong interpersonal skills and ethical decision making

Ability to work in a team environment with emphasis on collaboration with both clients and other internal service teams.

Education & Preferred Qualifications

BS / BA degree required. Must have a minimum of 1-3 years of related experience, preferably in financial services industry

Experience in working with Bank Loan asset class required

Proficiency with Wall Street Office (WSO)

Salary Range :

$52,000 - $94,120 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street's comprehensive benefits program, which includes : our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https : / / hrportal.ehr.com / statestreet / Home.

About State Street

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you'll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we 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.

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Job Application Disclosure :

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

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