Fund Expense Administrator, Associate 1
Fund Expense Administrator is responsible for processing the fund expenses and all associated tasks, including collecting authorization, VAT calculations, expense allocation to the sub-funds, payments, reconciliation, and reporting. He or she must ensure all invoices are processed in a timely manner and according to the standards and procedures set forth.
Why this role is important to us
The team you will be joining is a part of Global Exchange (SSGX). SSGX is a State Street business unit that provides data and analytics solutions to asset owners and asset managers, as well as banks and insurance companies. Global Exchange helps our clients make more informed investment decisions. Our broad product line provides a consistent way of looking at risk and performance from front to middle office.
Join us if making your mark in research for investment industry from day one is a challenge you are up for.
What you will be responsible for:
INVOICES PAYMENT AND RECONCILIATION
- Screen received invoices and determine entities / funds concerned, split method, need for currency conversion and applicable VAT treatment
- Instruction and follow up with concerned team for custody payments and cross sub-funds transfers.
- Instruction and follow up for execution of currency conversions
- Accounting processing of payments
- Custody vs Accounting reconciliation
- Follow up on rejected / returned payments
- Determine whether VAT is applicable and calculate where necessary
- Contact the client to resolve VAT calculation issues
- Maybe required to undertake the review of invoices tasks prepared by other team members
- Involvement in departmental ad-hoc projects.
- Involvement in the training and development of other team members as necessary.
- Make recommendations for changes to processes and procedures and prepare documentation for review as required.
NON - TECHNICAL COMPETENCIES
- Resolve review points highlighted by Senior Fund Expense Administrator and team supervisor and ensure they are kept informed of progress.
- Establish and maintain good working relationships with internal clients and colleagues.
- Contacts and maintains good working relationships with appointed client and vendor representatives in order to gather authorization and clarify any issues around fund expenses
- Undertake appropriate housekeeping duties e.g. filing, archiving, operation of clean desk policy.
TRAINING AND PERSONAL DEVELOPMENT
- Work with Senior Fund Expense Administrator / Team supervisor to identify objectives at the start of each year and keep them up to date.
- Actively participate in the appraisal process by completing a self-evaluation and suggesting appropriate development.
- Take responsibility for personal development and training.
What we value
- Numeracy / Literacy skills.
- Accuracy and ability to work with deadlines.
- PC literate and competent in use of spreadsheets and word processing.
- Basic understanding of fund administration would be useful but not essential.
- Very good English knowledge (B2 or higher
Education: Accountancy or Business related degree (preferred)
- Premium life insurance package;
- Employee savings plan;
- VIP medical package;
- International operating environment;
- Language classes;
- Soft skills trainings;
- Technical workshops;
- Development sessions with a mentor;
- Diversity of opportunities across a range of challenging and highly complex activities;
- Technical or leadership career pathway
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.For further information, and to apply, please visit our website via the “Apply” button below.