Depositary Oversight Manager, Vice President

State Street
Not disclosed
12 Aug 2022
31 Aug 2022
Approved employers
Approved employer
Contract type
Full time
Experience level

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

Our commitment to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Join us.

Position Overview

The Depositary Oversight Team performs the depositary functions for Alternative Investment Funds and UCITS, The candidate will be responsible of that team and will interact very closely with clients such as the Management Companies and the Alternative Investment Funds Managers located in different countries.

She/he will work closely with his direct reports, the team members, his manager as well as with colleagues from the Client Service Operations, custody, Fund Accounting, Center of Excellences and other State Street offices such as the Poland Depositary Team.

Primary Responsibilities
  • Overview day-to-day operations linked to the requirements as stipulated in AIFMD and UCITS V Directives as well as linked to the articles in the CSSF Circular18/697. Ensure that all controls are performed and assist/support the team.
  • Analyzing assets acquired by the fund and determine the flow of ownership verification. Attend client meetings to explain and justify the required documents
  • Review the cash flow monitoring performed by the team and assess if further investigations are required. Ensure that all backup is collected and mentor team members if needed.
  • Review the tasks linked to the oversight duties completed by the team.
  • Assist with presenting depositary services to potential clients and internal parties
  • Review escalation reports and participate in Board meetings to represent the Depositary.
  • Ensuring implementation of and compliance with relevant internal procedures. Perform oversight and escalations if any in the outsourced activities impacting Depositary work
  • Coordinate the audit process link to the inventory of the funds
  • Setup and use tools allowing to have a view on the status of the controls performed by the team and determine the team client allocation accordingly.
  • Take ownership in projects assigned to the Depositary.
Job Requirements and Minimum Qualifications
  • Minimum of 5 to 8 years professional experience in financial business, either in custody, Fund Accounting, Client Services or Depositary.
  • Degree in law, economy or finance
  • Ability to analyze a situation and obtain information to reach sound conclusions
  • Adopt a risk based approach and ability to escalate risky items
  • Strong organizational skills, with attention to detail and meeting tight deadlines
  • Excellent communication and management skills
  • Service-oriented and results-focused
  • Ability to work autonomously and take ownership
  • Take initiative
  • Good team player

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.

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