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A Derivative Operations Specialist, Associate 2 is responsible for accurately handling OTC derivatives, including (but not limited to) CFD, Credit Default Swap, Interest Rate Swap, Basket Swap, Total Return Swap, and Options and cash transactions to our Custody and Accounting systems.
Why this role is important to us:
Derivatives Specialist resolves data quality issues through interaction with client service teams and brokers. The individual acts as a first level resource within assigned business unit to process transactions in accordance to established procedures. This individual performs various daily tasks within the business unit as necessary to support processing routines. Assists with other related duties as required. Reviews work for accuracy and serves as a resource
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:
Reconcile daily margin calculation to the total position by contract type and unrealized gain/loss to the broker statement or faxed/transmitted instructions for specified funds.
Work with WIMCS and fund groups to resolve all matters concerning derivative related money movements and accounting questions.
Elevate areas of potential loss/exposure immediately and include supporting documentation.
Reviews and authorizes cash activity and reconciliations.
Process/price all derivative trades accurately and timely. This includes, but is not limited to, CFD, Credit Default Swap, Interest Rate Swap, Basket Swap, Total Return Swap, and Options with the ability to support Associate 1 individuals in their learning efforts in this area.
Solid understanding of OTC products and their lifecycle.
Initiate any related incoming or outgoing payments.
Adhere to established operating, risk, and compliance controls and standard operating procedures.
Knowledge of downstream effects and economic impact of the different types of derivatives.
Ability to apply industry knowledge to help other staff members.
What we value:
Fluent English - strong verbal and written communication skills
Advanced PC skills including MS Office applications (MS Excel mostly)
Minimum 1 year of related work experience in custody, fund accounting, derivatives and/or transaction processing.
Knowledge of financial securities markets, language and products as well as legal and regulatory requirements.
Strong analytical and organizational skills.
Ability to prioritize assignments under tight deadlines.
Strong interpersonal and communication skills in both verbal and written forms.
Education & Preferred Qualifications:
Bachelor's degree or its equivalent with business related coursework
Strong working knowledge of MS Office applications, and spreadsheet proficiency. VBA skills preferred but not mandatory
Premium life insurance package;
Employee savings plan;
VIP medical package;
International operating environment;
Soft skills trainings;
Development sessions with a mentor;
Diversity of opportunities across a range of challenging and highly complex activities;
Technical or leadership career pathway
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.