Custody Services, Associate 2
State Street · Posted Oct 9
Investment servicing, custody, asset management, and trading solutions for institutional investors
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About the role
State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world, providing investment servicing, data & analytics, investment research & trading and investment management to institutional clients. The Corporate Actions Operations team researches and validates corporate action events and manages client notification and exception processing. This Associate 2 role works on corporate action research and event validation, notification creation and release, workflow and exception management, and operational risk and control activities within custody services.
What you will do
- Research and analyze corporate action announcements received from custodians, issuers, stock exchanges, depositories, and market vendors.
- Review and interpret mandatory, mandatory with choice, voluntary, income, and informational corporate action events.
- Verify announcement details against secondary market sources to ensure completeness and accuracy.
- Validate key event attributes including:
- Ex-Date
- Record Date
- Payment Date
- Election Deadlines
- Option Details
- Entitlement Ratios
- Cash Rates
- Restrictions and Conditions
- Monitor revisions, cancellations, and event updates throughout the announcement lifecycle.
- Ensure all event data is accurately maintained within corporate action processing systems.
- Prepare and release client notifications within established deadlines.
- Verify event narratives, option descriptions, and election instructions prior to release.
- Ensure notifications accurately reflect market announcements and custodian requirements.
- Perform notification quality checks before final release.
- Monitor pending notification queues and ensure timely completion of work items.
- Escalate late announcements or incomplete market information when required.
- Manage research and notification workflow queues on a daily basis.
- Review and clear system-generated exceptions and validation alerts.
- Investigate discrepancies between primary and secondary sources.
- Coordinate with internal teams to resolve event setup issues.
- Track outstanding items and meet all operational service level commitments.
- Execute all assigned controls in accordance with Corporate Actions operating procedures.
- Perform maker-checker activities where applicable.
- Maintain supporting evidence for key controls and reviews.
- Escalate potential notification errors, missed deadlines, or processing risks promptly.
- Adhere to State Street operational risk, compliance, and audit requirements.
- Participate in control testing, audit requests, and quality assurance reviews as required.
- Support Client Service teams with notification-related inquiries.
- Respond to internal stakeholder questions regarding corporate action event details.
- Assist in resolution of client election and notification exceptions.
- Provide timely updates on event status and outstanding issues.
- Identify opportunities to improve efficiency, quality, and risk controls.
- Participate in automation, standardization, and process improvement initiatives.
- Contribute ideas to reduce manual touch points and improve notification accuracy.
- Support implementation of new processes and system enhancements.
Skills used in this role
What the employer is looking for
- Bachelor's Degree in Commerce, Finance, Accounting, Business, Economics, or related discipline.
- 1 to 4 years of experience in:
- Corporate Actions
- Custody Operations
- Fund Accounting
- Investment Operations
- Securities Operations
- Financial Services Operations
- Strong analytical and research skills
- Attention to detail
- Ability to interpret complex market announcements
- Effective written and verbal communication
- Risk and control awareness
- Time management and prioritization
- Ability to work under tight market deadlines
- Team collaboration and stakeholder management
- Problem solving and investigation skills
Preferred qualifications
- Mandatory Corporate Actions
- Voluntary Corporate Actions
- Income Events
- Equity and Fixed Income Securities
- Market Deadlines and Election Processing
- SWIFT Messaging Standards
- Custody and Fund Accounting Concepts
- MCH
- GCAS
- Bloomberg
- Microsoft Excel
- Outlook
- Internal Corporate Actions platforms and workflow tools
Benefits and support
- generous medical care, insurance and savings plans
- flexible Work Program
- development programs and educational support
- paid volunteer days
- matching gift program
About State Street
State Street Corporation is a leading global financial services holding company providing institutional investors with investment servicing, investment management, and investment research and trading. Operating in more than 100 geographic markets worldwide, the company manages and administers trillions of dollars in assets through its core divisions like State Street Global Advisors and State Street Alpha. Headquartered in Boston, Massachusetts, it traces its origins back to 1792.
- Industry
- Financial Services
- Company size
- 51000+ employees
- Founded
- 1792-06-25
- Location
- Boston, Massachusetts, USA
- Funding stage
- Public Company
Leadership
Chairman and Chief Executive Officer
John Woods
Chief Financial Officer
Mostapha Tahiri
President of State Street Alpha & Chairman of Asia Pacific
Ann Fogarty
Enterprise Chief Operating Officer
President and Chief Executive Officer of State Street Investment Management
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