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Core Operation - Associate 2

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State Street

Oct 4, 2024

  • Job
    Full-time
    Mid & Senior Level
  • Business, Operations & Strategy
    Banking & Finance
  • Quick Apply

AI generated summary

  • You should understand settlement processes, clearing houses, reconciliations, and trade lifecycle. Familiarity with NOSTRO, SWIFT messages, process improvements, and client communications is essential.
  • You will analyze settlement processes, validate instructions, support exception resolutions, identify suspicious activities, ensure adherence to guidelines, and engage with clients and teams for improvements.

Requirements

  • Should have good understand of the settlement process and also should be able to analyse the activities of clearing house (DTC, DTCC, CREST, Euroclear) to ensure pre & post settlements were properly followed.
  • Capable of analysing the fax and electronic instructions received from sales and trading desk and validate with the static data. Also to have good understanding of Reconciliation and enrichment process.
  • Works in conjunction with individuals on the team as well as other shared services and Client Operations to ensure seamless processing according to the fund’s policies.
  • Remains familiar with back-up procedures when system applications and/or transmission problems arise. Supports individual and team efforts with regard to research and resolution process for exceptions and inquiries, creating Prime Broker relationships and liaising as necessary to seek assistance in exception resolution.
  • During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures.
  • Work with internal settlements and reconciliation team to analyse if trade booking, trade capturing, validation and enrichment activities or if any amendments were done are in adherence to Market guidelines within the market and internal cut-offs.
  • Should be familiar with Trade Life cycle and have a fair understanding of different guidelines (ISITC, IFSA, TMPG and GBP guidelines) and good understanding of Claims flow.
  • Good understanding of NOSTRO and other payment systems (MT202, Fed wire, CREST). Familiar with different types of Swift message (MT299, 300, 199, 399, 546 etc.)and their usage.
  • Should have a good exposure of initiating client/ Counterparty / third-party calls and should have worked on process improvement project.

Responsibilities

  • Should have good understand of the settlement process and also should be able to analyse the activities of clearing house (DTC, DTCC, CREST, Euroclear) to ensure pre & post settlements were properly followed.
  • Capable of analysing the fax and electronic instructions received from sales and trading desk and validate with the static data. Also to have good understanding of Reconciliation and enrichment process.
  • Works in conjunction with individuals on the team as well as other shared services and Client Operations to ensure seamless processing according to the fund’s policies.
  • Remains familiar with back-up procedures when system applications and/or transmission problems arise. Supports individual and team efforts with regard to research and resolution process for exceptions and inquiries, creating Prime Broker relationships and liaising as necessary to seek assistance in exception resolution.
  • During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures.
  • Work with internal settlements and reconciliation team to analyse if trade booking, trade capturing, validation and enrichment activities or if any amendments were done are in adherence to Market guidelines within the market and internal cut-offs.
  • Should be familiar with Trade Life cycle and have a fair understanding of different guidelines (ISITC, IFSA, TMPG and GBP guidelines) and good understanding of Claims flow.
  • Good understanding of NOSTRO and other payment systems (MT202, Fed wire, CREST). Familiar with different types of Swift message (MT299, 300, 199, 399, 546 etc.)and their usage.
  • Should have a good exposure of initiating client/ Counterparty / third-party calls and should have worked on process improvement project.
  • State Street's Speak Up Line.

FAQs

What is the primary responsibility of an Associate 2 in Core Operations?

The primary responsibility is to understand the settlement process and analyze the activities of clearing houses to ensure pre and post settlements are properly conducted.

What skills are required for analyzing trade instructions?

The candidate should be capable of analyzing fax and electronic instructions from the sales and trading desk and validating them against static data, with a good understanding of reconciliation and enrichment processes.

How does this role interact with other teams?

The Associate 2 works closely with individuals on their team as well as other shared services and Client Operations to ensure seamless processing according to the fund's policies.

What procedures should the candidate be familiar with concerning system issues?

The candidate should remain familiar with back-up procedures for system applications and transmission problems, and support the team in research and resolution processes for exceptions and inquiries.

How should unusual transaction activity be handled?

The candidate is responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate it in accordance with corporate policy and guidelines.

What is expected when analyzing trade bookings and validations?

The Associate 2 must work with internal settlements and reconciliation teams to ensure that trade booking, capturing, validation, and enrichment activities adhere to market guidelines and internal cut-offs.

What understanding of trade life cycles is required?

The candidate should be familiar with the Trade Life Cycle and have a good understanding of various guidelines, including ISITC, IFSA, TMPG, and GBP guidelines, as well as the claims flow.

What knowledge of payment systems is necessary for this role?

A good understanding of NOSTRO and other payment systems (MT202, Fed wire, CREST) is required, along with familiarity with different types of Swift messages (MT299, 300, 199, 399, 546, etc.) and their usage.

Is experience with client communications important for this role?

Yes, candidates should have a good exposure to initiating calls with clients, counterparties, and third parties, and should have experience working on process improvement projects.

What resources are available for reporting concerns or issues within the company?

Employees can utilize State Street's Speak Up Line to report concerns or issues.

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