Bank Loan Servicing, Senior Associate
Reporting to an Officer, the Senior Associate is responsible for ensuring team compliance with operating policies, procedures and guidelines in relation to bank loan processing, and the timely completion of accurate loan service records. They are also responsible for team development, staff management and enhancing internal client satisfaction.
This position offers the successful candidate the opportunity to demonstrate leadership, communication and technical expertise. They are responsible for implementing company policy, overseeing service deliverables and contributing to the development of the team and the organization.
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 Bank Loan Servicing, Senior Associate you will
Job Duties and Responsibilities
- Establish and maintain good working relationships with clients, third parties and colleagues, communicating effectively through formalized reporting and ad hoc liaison.
- Take responsibility for the quality of service to assigned clients. Perform and/or monitor quality and internal controls for all team deliverables.
- Plan and manage the daily processes and service delivery deadlines, through the effective utilization of resources with the support of the Officer.
- Review loan operating procedures and controls, and evaluate the continuing effectiveness of these as they relate to the team’s funds. Ensure documentation exists for any client-specific procedures.
- Set and maintain standards of personal and professional performance/behavior; ensuring staff accountability and adherence to company policies and procedures.
- Provide coaching, guidance and support to staff on technical, professional and client issues and agree goals, monitor and appraise the performance of staff.
- EMEA Loan Services (EMEA LSU) is a specialized team in State Street providing accounting custody and middle office solutions for clients investing in bank loans.
- The bank loan asset class has accounting and administrative complexities requiring specialized technology and expertise to record-keep effectively. EMEA LSU deploys market leading, scalable technology efficiently to provide solutions to complex client base.
- State Street is a market leader in supporting bank loans with circa $500bln AUA. EMEA LSU provides a single, consistent operating model to our client base - across multiple jurisdictions and product types.
- Due to business expansion, the EMEA LSU requires high calibre professionals to join this team. Significant opportunities exist for candidates with background in Bank loan servicing, corporate trust, complex asset servicing - or for candidates with experience in fund accounting, custody roles seeking new challenges.
Education & Preferred Qualifications
- Primary Degree or a Professional or Accounting qualification or equivalent.
- Experience working in loan administration services
- Proven strong working knowledge of WSO administrator and reporting.
- In-depth knowledge of bank loan products and market practices required
- Loan servicing
- Loan Services
- Loan Accounting
- Private Debt
- Private Credit
- Corporate Trust
- Loan Fund Accounting
- Wall Street Office
- CDO Suite
- Agent Banks
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.
Knowledge of accounting for loan products
For further information, and to apply, please visit our website via the “Apply” button below.