State Street

Financing Solutions - NA FAD - Assistant Manager

State Street
Mumbai, India
Not disclosed
22 Feb 2024
08 Mar 2024
Approved employers
Approved employer
Contract type
Full time
Experience level

Job Description

Who we are looking for:

Looking for professional who have good understanding about the Stock Lending, Investment banking, Cash management and Broker Billing process.

Why this role is important to us:

The team you will be joining is a part of State Street Global Markets (SSGM), The investment and divestment of all cash collateral, in state street’s Agent lending program is managed by the Financial Accounting and Distribution (FAD) team. The team is responsible to manage the cash forecasts to Investment managers, Settling the bills with brokers, process earnings out the cash investments to the clients. This process is dealing with clients and their money so the attention to the details and timely cash settlement is required.

What you will be responsible for:

  • The SF FAD Billing and Earnings Senior Associate will be responsible for distributing Client and Agent Securities Lending Earnings for all regions and currencies globally.
  • Calculate and distribute Client and Bank Earnings to meet the monthly deadline
  • Ensure that work is completed ‘on-time’ and accurately. All issues are identified & escalated in a timely fashion.
  • Assists the JV offshore team for complex and aged billing issues
  • Manages the collection of offline payments coordinated between trading and borrowers
  • Performs Earning DDAs daily reconciliation
  • Prepares monthly Cash final data to ensure Bank/Client earning, co-agent fee, management fee are accounted accurately.
  • During the course of normal day-to-day operation, responsible for identifying any unusual or potentially suspicious transaction activity and reporting and/or escalating in accordance with corporate policy and guidelines detailed in relevant operating procedures.
  • Participates on projects or committees within the department and/or with BU Shared Services, and Client Operations teams.

What we value:

These skills will help you succeed in this role:

  • At least 5 years prior Financial Industry experience - of which, at least 4 year are in Global Markets within Earning and Billing management, Stock-loan or Stock-lending positions.
  • An ability to understand complicated workflow and reconciliation controls impacting up to 4 system or reporting platforms.
  • An ability to manage exceptions and remediate/escalate such items at point of discovery.
  • Experience in a high volume Operations environment.
  • Proficient in Microsoft Office Applications (Excel, Access, Word and Power Point)
  • Strong client service, analytical, problem solving and communication skills
  • A broad understanding of Fund Accounting, Billings and CASH management functions.

Shit Timing: Login should be between 5.30 to 9.00PM IST.

Work Location: Mumbai

Education & Preferred Qualifications:

  • University degree in Business majoring in Accounting, Finance, or other Financial-related programs
  • Overall experience of 5+ years in Cash management, Broker billings or related work.
  • Stock lending experience is a must. (Pre or post-trade Settlement)

Secondary Skills (Good to Have)

  • Good hands on experience in Excel formulas (VLOOKUP and other basic formulas)

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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