State Street Global Service Corporate Actions Specialist, Associate 2 in Quincy, Massachusetts

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State Street is an Affirmative Action/ Equal Opportunity Employer/Vet/Disability.

Works as part of a team to research, notify and process corporate action events containing a high degree of principal risk with stringent deadlines in accordance with internal and external procedures and regulations.

  • Research and acquire all pertinent information about voluntary corporate action events using various vendors, sub custodian banks, depositories, and prospectuses, as well as, knowledge gained about market practice to ensure accurate and validated information is delivered timely to all clients and within established SES timeframes.

  • Interpret accurately all information received and validate the information with another source within 24 hours of receipt.

  • Act as a liaison between the department and internal clients such as Legal, Tax, Securities Finance, Fund Groups, etc.

  • Ensure all responses for voluntary events are received from clients prior to the expiration of the actions, verified for accuracy and forwarded to the necessary party for execution.

  • Verify the work of the other Corporate Action Specialists within the group for quality and accuracy.

  • Reconcile SSB records to those of the depository, sub custodian’s , global lending agent’s, as well as to other internal systems resolving any entitlement calculation problems due to position breaks

  • Monitor and action settlement of shares and cash entitlements, identify and resolve exposure, and pursue past due entitlements by analyzing trade activity and submitting/tracking payment of broker/market claims.

  • Promote and ensure all direct client service relationships/fund group inquiries are acted upon and completed in a timely manner.

  • Pend transactions to State Street’s Securities Movement and Control Systems (SMAC/GSMAC)

  • Perform exception processing for Third Party Lending clients, Foreign Exchange instructions, or claiming situations

  • Participate in projects aimed at improving the delivery of the Corporate Action product.

  • Assist in the collation of daily MI and regular key performance indicator reports.

  • Participate in effective Risk Management by contributing to the completion of end of day reports and ensuring timely escalation to Senior Associate and manager of pertinent issues.

  • Demonstrates competencies in own area and in general business principles; may still be acquiring higher skill level

  • Works on practical tasks to established procedures

  • Typically works with moderate guidance, accountable for individual results and impact on work group

  • Deepening knowledge/skill in one skill area or broadening ability over a variety of skills

  • Applies knowledge/skills to a variety of standard day to day activities; knows when to refer to others; handles a variety of tasks within own area

  • Bachelor’s degree or equivalent business experience

  • One to two years experience in the financial industry preferably with exposure to corporate action processing.
  • Excellent attention to detail
  • Strong ability to intelligently analyze complex documents and understand financial markets.
  • Excellent ability to accurately process time sensitive transactions containing significant principal risk in a high volume fast paced environment.
  • Strong prioritization skills and sound independent judgment.
  • Strong ability to work in a team environment
  • Excellent PC skills including word processing and spreadsheet software.
  • Excellent written and verbal communication skills.
  • Must have strong understanding/comfort level of interpreting legal terminology associated with complex financial transactions or business combinations
  • Adapts quickly to new systems/processes and is flexible to the changing business needs.
  • Within assigned work, is able to prioritize and focus on the most urgent task and can exhibit skill in planning and selfmanaging workload to ensure completion in expected timeframes.
  • Interprets client needs and works to meet those needs, offering assistance and advice on standard practical issues; may call on others for help in situations outside own area of knowledge
  • Understands the key business practices relating to own area; uses this knowledge to focus and improve own work
  • Identifies the problem and all relevant issues in straightforward situations; generates possible solutions, assesses each using standard procedures and makes a sound decision
  • Probes and listens carefully, presents information clearly and in appropriate style, makes technical information clear, persuades others in straightforward situations
  • Contributes actively in team activities, sharing experience and ideas
  • Builds useful working relationships outside own area

State Street Job ID: 158564

Location: North Quincy, MA

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Job Title: Global Service Corporate Actions Specialist, Associate 2

Job ID: 158564

Full/Part Time: Full FTE

Regular/Temporary: Regular

Location: US-MA-Quincy