Senior Associate - Middle Office Accounting & Reconciliation

About State Street

State Street stands as a leading global custodian bank, asset manager, and asset intelligence provider, leveraging over two centuries of expertise in safeguarding investments worldwide. We offer extensive services across investment servicing, data analytics, research and trading, and management tailored for institutional clients.

We prioritize an inclusive and supportive work environment, offering comprehensive benefits such as competitive medical care, insurance, savings plans, and flexible work programs. Our culture emphasizes diversity, equity, and community engagement with multiple employee networks and initiatives to balance personal and professional life.

Role Summary

The Senior Associate will oversee daily accounting and reconciliation activities within the middle office, ensuring precision and timely execution across investment portfolios. This position demands sharp analytical skills, operational discipline, and the capacity to manage exceptions, risks, and interactions with various stakeholders.

Key Responsibilities

• Conduct daily reconciliations of cash, positions, and transactions for multiple asset classes.
• Resolve reconciliation discrepancies promptly within established service levels.
• Investigate root causes of recurring breaks and champion permanent solutions.
• Coordinate with custodians, fund administrators, and internal departments to address issues.
• Support Investment Book of Record accounting, including journal entries, accruals, and valuation verifications.
• Review trial balances and assist in validating Total Market Value (TMV).
• Ensure compliance with accounting standards and internal controls.
• Monitor exceptions, escalate risks appropriately, and support audit activities with documentation.
• Identify and implement improvements to optimize efficiency and reduce manual processes.
• Assist automation efforts and contribute to process standardization and documentation.
• Serve as a liaison for internal and external stakeholders, providing comprehensive reporting on reconciliation status.
• Collaborate with front office, fund accounting, and technology teams.
• Mentor junior staff and support workload distribution to meet deadlines.

Qualifications & Experience

• Bachelor's degree in Finance, Accounting, or related discipline; professional certifications such as CA, CFA, or CPA are advantageous.
• 3 to 6 years’ experience in middle office, fund accounting, or reconciliation functions.
• Sound knowledge of financial instruments including equities, fixed income, and preferably derivatives.
• Familiarity with reconciliation and accounting technology platforms.

Core Skills

• Strong analytical and problem-solving capabilities.
• Meticulous attention to detail and precision.
• Solid understanding of financial markets and investment operations.
• Effective communication and stakeholder engagement skills.
• Ability to meet stringent deadlines in a fast-paced environment.

Preferred Competencies

• Experience with reconciliation software such as TLM, DUCO, or IntelliMatch.
• Knowledge of automation tools including Alteryx, Python, or Robotic Process Automation (RPA).
• Understanding of relevant regulatory and audit frameworks.