Private Markets Custody Operations Associate

This is a unique opportunity to provide custody services for hedge funds and private equity firms. As a member of the Alternative Investment Services team you will support and assist the client and their designated investment managers with operational services on their custody portfolios.

• Reviews and validates all daily activity in an accurate and timely manner and maintains all required controls to ensure overall accuracy
• Undertake routine tasks related to the monitoring and processing cash and custody events
• Work in conjunction with individuals on the team other shared services/COEs India and Client Operations to ensure seamless processing of cash and custody events according to the fund's policies
• Support the research and resolution of exceptions and inquiries related to cash and custody events
• Calculate cash availability in accordance with performance standards and client deadlines
• May provide cash forecasting for clients based on a set of criteria described by the client and/or Investment Manager
• Process all actual cash movements in the funds
• Process cash sweep and short term investment transactions (repo commercial paper)
• Post share and cash movement for subscriptions and redemptions
• Post cash receipt/disbursement entries to custody and accounting records
• Process all income inquiries and research unpaid items by deadline
• Research and verify all interest variances and ensure that all pay downs are processed in a timely manner
• Process expense payments and check requests as instructed by client
• Reconcile custody to accounting cash & share records. Document all exceptions and clear exceptions by deadline. Elevates exceptions as required
• Resolve discrepancies with Transfer Agent
• Monitor all overdrafts and ensure that overdraft compensation is collected on a timely basis. Ensure that cause of overdraft is accurately communicated while elevating potential issues to management
• Process trade settlement information within deadlines and comply with all requirements
• Book trades accurately and in a timely manner. Communicates fail trade information as directed. Reconcile outstanding items
• Process collateral/assets segregated as instructed
• Perform all weekly and biweekly proof activities
• Maintain records in support of audits
• May be required to communicate with clients to support trade processing
• Remain familiar with back-up procedures when system applications and/or transmission problems arise
• May be required to perform other duties as required
• 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 elevate in accordance with corporate policy and guidelines detailed in relevant operating procedures

• Strong computer competence (Microsoft Applications: Word Excel)
• Aptitude for math
• Strong oral communication and interpersonal skills
• Strong accuracy aptitude and detail orientation
• Ability to multi-task
• Ability to work under pressure and within a deadline oriented environment

• Associate's degree with business coursework and related experience OR Bachelor's degree with business coursework

$41,600 - $66,560 Annual

State Street is an equal opportunity and affirmative action employer.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.