State Street

Derivatives Associate 2

State Street
Irvine, California
Not disclosed
13 May 2024
03 Jun 2024
Approved employers
Approved employer
Contract type
Full time
Experience level
Qualified accountant

Who we are looking for

A Derivative Operations Specialist, Associate 2 is responsible for accurately posting domestic and foreign derivatives, including (but not limited to) swap, Future, Options and collateral transactions to our Custody and Accounting systems. This individual resolves data quality issues through interaction with accounting and client service groups in North America and Europe. The individual acts as a first level resource within assigned business unit to process transactions in accordance to established procedures. This individual performs various daily tasks within the business unit as necessary to support processing routines. Assists with other related duties as required. Reviews work for accuracy and serves as a resource.

Why this role is important to us

The team you will be joining is a part of State Street Global Services (SSGS). SSGS 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 Derivative Operations Specialist, Associate 2 you will

  • Reconcile daily futures margin calculation to the total position by contract type and unrealized gain/loss to the broker statement or faxed/transmitted instructions for specified funds.
  • Work with WIMCS and fund groups to resolve all matters concerning derivative related money movements and accounting questions.
  • Elevate areas of potential loss/exposure immediately and include supporting documentation.
  • Reviews and authorizes cash activity and reconciliations.
  • Process all derivative trades accurately and timely. This includes, but is not limited to, futures, options, cash and security collateral, segregation of collateral and swaps.
  • Initiate any related incoming or outgoing payments.
  • Complete month-end reconciliations.
  • Adhere to established operating, risk, and compliance controls and standard operating procedures.
  • Knowledge of downstream effects and economic impact of the different types of derivatives.
  • Ability to apply industry knowledge to help other staff members.

What we value

These skills will help you succeed in this role

  • Solid understanding of OTC swaps products.
  • Solid understanding of the swap life cycle.
  • Knowledge of downstream effects and economic impact of the different types of derivatives.

Education & Preferred Qualifications

  • Bachelor’s degree or its equivalent with business related coursework.
  • Minimum 1 year of related work experience in custody, fund accounting, derivatives and/or transaction processing.
  • Knowledge of financial securities markets, language and products as well as legal and regulatory requirements.
  • Strong working knowledge of MS Office applications, and spreadsheet proficiency. VBA skills preferred.
  • Strong analytical and organizational skills.
  • Ability to prioritize assignments under tight deadlines.
  • Strong interpersonal and communication skills in both verbal and written forms.

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.

Salary Range:

$43,680 - $62,400 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.

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

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