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Depositary has oversight responsibilities for the Investment Manager's activities in a number of key areas such. The Depositary is also responsible for the safeguarding of the assets of the authorized fund. This separation of the management of the fund's assets from their ownership is the most fundamental element of investor protection provided by authorized funds. The Depositary also has a responsibility for protecting the interests of incoming, outgoing and continuing investors in a fund. Whilst not having a direct responsibility for the Manager's activities, the Depositary must take reasonable care to ensure that the Manager is properly discharging its own responsibilities.
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:
Prepare and review cash monitoring work conducted by the team (significant cash flows, full cash flows reconciliation).
Prepare and review safekeeping of assets work conducted by the team (custody, asset ownership verification and registration).
Perform oversight checks on valuation and safekeeping of units work conducted within the Depositary team (subscriptions and redemptions oversight).
Reconciliations: analyze the output of the reconciliations for specific instruments such as OTC Derivatives, ETD, cash, stock, etc.; make a risk assessment to identify risky items that require to be investigated further and that require escalation.
NAV calculation: review procedures in place to calculate the NAV and understand the drivers of the NAV calculation, review income distribution calculations; ensure that the receivable and payable accounts linked to shareholder activity are in good order
Trade settlement, income and cash: risk assessment of trades, cash and income not timely settled/received.
Investment Restriction Compliance: identify breaches and check if escalation is required.
Transfer Agency: understand the risk items linked to the transfer agency activity and review the output of the reconciliation of the collection account.
Collaborates with the all team members on an ongoing basis
Assists where required in preparing daily deliverable and reviews reports prepared by team.
Controls the quality of the prepared work.
Complete the reviewers' checklist when required in accordance with procedures.
Stays objective and protects the investor`s interest at all times.
What we value:
These skills will help you succeed in this role:
Takes Ownership and Initiative
Ensures accuracy and quality
Provides outstanding service
Displays Insight & Influence
Fosters Collaboration and Teamwork
Education & Preferred Qualifications
Numeracy / Literacy skills.
Good organizational skills in order to meet deadlines and keep well-documented records.
PC literate and competent in use of spreadsheets and word processing.
The ability to understand complex investment fund structures and to identify the risks inherent in those structures.
A thorough understanding of fund administration is required.
Experience in finance, custody or funds would be an advantage.
Knowledge about UCITS V and AIFMD regulations
Performs special projects and other tasks as assigned by the Team Manager.
Involvement in the training and development of other team members as necessary.
Assists Team Supervisor in the organization of the Team and in ensuring that departmental procedures and controls are adhered to.
Assists Team Supervisor in implementing new procedures and controls.
Flexible working hours (restricted to the current business need)
No intra-day deadlines
Interesting, non-repetitive process
Possibility to Work From Home
Employee savings plan
Premium life insurance package
VIP medical package
International operating environment
Soft skills trainings
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