Fund Account, Associate
Who we are looking for:
Under direct supervision, the Fund Accounting & Administration, Assc1 provides assistance with instructions record keeping, client specific reporting, Income reconciliation, Risk monitoring, cash statement, accounting processing to support the fund administration role. The Fund Accounting & Administration, Assc1 interact with all levels of internal personnel but will have no contact with external clients or client contacts. The Fund Accounting & Administration, Assc1 handle the day-to-day administration, accounting and accounting related processes for one or more client sponsored investment funds. 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 Fund accountants are primarily responsible for the timely and accurate execution and reporting of net asset valuations (NAVs) for our clients' accounts (funds). The fund accountant identifies, analyzes and substantiates impacts to the NAV. Critical functions performed include the processing and verification of all subscription and redemption activity (for unitized products), posting and monitoring of expense accruals, security transaction and corporate action review, monitoring of dividend and interest income and accruals, mark-to-market calculations, monitoring of securities pricing impacts, price dissemination and generating various accounting-based reporting. What we value:
• Browse transactions record in accounting and custody system to highlight exceptions or special instruction in result and pass to homesite for further investigation and action.
• Review instruction received from client / asset manager, look up standing instruction table to identify transactions with matched criteria as per per-defined guideline.
• Check trade status and overdraft report from MySS or other internal applications to identify exceptions per pre-defined guideline. Capture exceptions in specific report format.
• Verify income received in accounting and custody record
• Capture cash related activities in client's account and calculate available cash balance
• Browse income repatriation activities in custody record by utilize GMAS Marco and internal applications to create income distribution report
• Process swift cash and FX transaction based on the agreed SI with client timely and accurately. Education & Preferred Qualifications:
• Bachelor degree or above
• Demonstrate ability to resolve issues and homesite queries independently and communicate with other teams in English, both verbally and in writing;
• Act collaboratively in the team. 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.
Discover more at StateStreet.com/careers