Alternative Operations Settlement Specialist, Associate 2

State Street.
Irvine, California
Not disclosed
06 Dec 2021
04 Jan 2022
Contract type
Full time
Experience level
Qualified accountant

Irvine, California; Boston, Massachusetts; Kansas City, Missouri; Boston, Massachusetts; Clifton, New Jersey; Atlanta, Georgia; Quincy, Massachusetts

Why this role is important to us

The team you will be joining is a part of International Fund Services (IFS), acquired by State Street in July 2002. IFS, also known as Alternative Investment Solutions is a recognized industry-leading provider of fund accounting, fund administration and risk services to hedge funds and private equity funds. These services are fully integrated to provide complete end-to-end solutions that span the front-, middle- and back-office requirements of institutional investors.

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

What you will be responsible for

An Alternative Operations Settlement Specialist, Associate 2 is responsible for:

  • Accurately posting trade requests, including (but not limited to) loans, real estate, equity, credit and collateral transactions to our custody, accounting and other systems.
  • Resolving data quality issues through interaction with accounting and client service groups.
  • Process transactions in accordance to established procedures.
  • Reviews work for accuracy and serves as a support resource for offshore teams.
  • Resolving trade and settlement discrepancies in a timely and accurate manner.
  • Responds to all client, bank, counterparty and service provider inquiries timely and accurately.
  • Provides recommendations for improving in processing or procedures.
  • Works with other internal business units to resolve complex or non-routine process in related questions/issues.
  • Researches complex issues and proposes tactical and strategic solutions.
  • Performs ad-hoc tasks to support team supervisor and the overall business unit as needed.
  • Manages the day-to-day settlements of alternative assets via SWIFT, DTC and/or physical settlement.
  • Manages data trackers and inquires timely and accurately.
  • Supports individual and team efforts with regard to research and resolution process for exceptions and inquiries.
  • Supports Client Operations and Joint Venture team in providing appropriate information for preparation and research of proofs as needed.
  • Remains familiar with back-up procedures when system applications and/or transmission problems arise.
  • Develop an understanding of settlement processes and types, processing requirements, processing timelines, how those actions may affect fund asset values, and be able to practically apply this knowledge to processing environment.
  • During 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
  • May perform other duties as requested.

What we value

  • SWIFT settlement experience is preferred.
  • Strong computer competence (Microsoft Applications: Word, Excel, Visio).
  • Accuracy and detail oriented.
  • Strong interpersonal skills.
  • Strong communication (verbal and written) skills.
  • Ability to multi-task.
  • Ability to work under pressure and within a deadline oriented team.

Education & Preferred Qualifications

  • Bachelor’s degree with business related coursework or B.S. degree in Accounting or Finance preferred.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs 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 perspectives 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 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 programs 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.

For further information, and to apply, please visit our website via the “Apply” button below.

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