Overview/ Who we are looking for
The Retiree Services Department is looking for a functional specialist candidate to assist with activities related to our benefit payments. This individual will work within the business operations team and coordinate with our client service organization to ensure accuracy and that all SLAs are met or exceeded.
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 we value
These skills will help you succeed in this role:
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Ability to work with high attention to detail, proactively in a team and within a dynamic environment.
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Establish and maintain good working relationships with internal clients and colleagues.
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Ability to communicate effectively and timely
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Supporting senior colleagues and following/completing their requests.
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Excellent organization and time management skills with the flexibility to multitask prescheduled activities and meet deadlines.
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Risk excellence mindset with ability to identify and escalate, where needed.
Responsibilities:
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Process benefit payment related activities e.g. supporting check processing; ACH processing; mail processing; report delivery; ledger adjustment and tax form processing; tax deposits and various reconciliations (breaks), etc.
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Complete client and internal reporting, and provide client and internal administrative support
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Research and resolve exceptions, reconciliations, incorrect transactions and issues
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Receive and resolve inquiries in a timely and accurate manner and communicate effectively with client
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Escalate unresolved issues to management
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Support the production of financial, performance and/or quality reports for client, shareholder, director and management as needed
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Validate, and review daily activity while maintaining all required controls
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Support the review and validation of data through peer review and distributing information to Shared Services, Client Operations teams and clients
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Review activities for and identify potential financial/regulatory risks and escalate
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Prepare and verify information for various projects/special requests as directed
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Maintain appropriate records of daily and monthly activities
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Maintain knowledge of current alternative procedures and processes
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Document any updates or changes to formal procedures, databases, etc. for manager review
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Support training of new hires as necessary
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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
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Perform duties of Associate 1 and perform other duties as required
Shared Accountabilities/ Collaboration:
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Work in conjunction with individuals on the team as well as other Shared Service teams/COE’s, outsource locations, Client Operations, other business units and external clients, to ensure seamless processing according to policies and procedures to ensure accuracy and that all SLAs are met or exceeded
Metrics
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Client retention and satisfaction
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Maximize client profitability
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Timeliness and accuracy of daily and monthly processing
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Adherence to SLA, PSDs & SOPs
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Achieve productivity targets
Education & Preferred Qualifications
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Bachelor’s degrees or equivalent.
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Must have two years of financial services experience, preferably with accounting and custody exposure, and knowledge of financial market activities and transactions.
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Basic application knowledge – Microsoft Office
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Strong customer service, communication, organizational and problem solving skills.
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Must be able to prioritize activities and work well under pressure.
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Excellent analytical and problem solving skills.
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Excellent verbal and written communication skills.
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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs 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 perspectives 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 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 programs 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
