Middle Office - Associate 2
State Street · Mumbai, Maharashtra, India
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- On site
- Full-time
- $75,000 / year
- Mumbai, Maharashtra, India
Job highlights
- Support investment clients with financial statements and reporting.
- Work in shifts for US, APAC, and EMEA hours.
- Prepare and review financial statements and regulatory forms.
- Train and coach team members, manage workflow.
- Utilize automation and recommend system enhancements.
About the role
About State Street Global Services (SSGS)
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 You Will Be Responsible For:
- Prepare and perform 1st level reviews on client financial statements, NQs, Form N-MFP other similar forms/activities and clear comments.
- Assist with draft and support distribution to client and auditors, ensuring that all deliverables are completed accurately and within agreed upon time.
- Provide on-the-job training and coaching to all staff and provide performance feedback to manager for review.
- Responsible for risk management by ensuring staff understands all Standard Operating procedures, Key Controls, and Client Specific Procedures/Checklists.
- Estimate personnel needs, assign work, oversee short term deliverables, coordinate workflow, maintain working knowledge of overall process operating model while assisting with deployment of operational changes.
- Ensure team is achieving accuracy and meeting pre-determined deadlines.
- Implement all standard practices, processes, tools, and technology enhancements.
- Effectively use automation and make recommendations for current system enhancements.
- Participate in the research and resolution of client issues.
- Volunteer for ad-hoc projects and help with last minute requests.
- Resolve issues and prioritize actions in the absence of the direct manager.
- Assist with coordination of activities between multiple departments within the organization, including our global offshoring partners.
- Draft and update task lists for offshoring partners, ensures all supporting documentation is available to them and acts as primary contact to answer their questions and issues.
What We Value:
- Fund Accounting
- Transaction processing & Management
- Financial Analysis
- Excellent communication skills
- Problem solving
- Statistical analysis
Education & Preferred Qualifications:
- Bachelor’s Degree in Commerce / Economics with a specialization in Business, Accounting, Finance or equivalent experience preferred.
- CA / CPA / ACCA or similar professional qualification preferred.
- Knowledge of US GAAP/ IFRS etc.
Additional Requirements:
- Demonstrates strong technology skills, as well as problem solving and analytical skills.
- Demonstrates an ability to be a leader within their team, as well as be a leader amongst your peers.
- Strong communication, interpersonal, and organizational skills, which includes excellent time management skills.
- 2+ years to 4+ years of experience in Fund Financial Reporting /accounting or finance field preferred.
- Selected candidates will be required to work in shifts which allow reasonable overlap with US, APAC and EMEA hours.
Key skills/competency:
- Fund Accounting
- Financial Reporting
- US GAAP
- IFRS
- Transaction Processing
- Financial Analysis
- Risk Management
- Client Support
- Team Leadership
- Process Improvement
Skills & topics
- Middle Office
- Associate
- Fund Accounting
- Financial Reporting
- Financial Analysis
- Transaction Processing
- Client Support
- State Street
- Finance
- Accounting
How to get hired
- Tailor your resume: Highlight fund accounting, financial analysis, and regulatory reporting experience.
- Showcase leadership: Emphasize team management, training, and problem-solving skills.
- Demonstrate technical proficiency: Mention experience with US GAAP, IFRS, and financial reporting tools.
- Prepare for shift work: Be ready to discuss your ability to work flexible hours.
- Research State Street: Understand their services and client focus in global markets.
Technical preparation
Master US GAAP and IFRS reporting standards.,Practice financial statement preparation and review.,Familiarize with NQ and N-MFP reporting.,Enhance automation tool usage and recommendations.
Behavioral questions
Describe a time you trained a junior colleague.,How do you manage tight deadlines under pressure?,Share an experience leading a team initiative.,How do you handle complex client issues?
Frequently asked questions
- What are the primary responsibilities of a Middle Office Associate at State Street?
- As a Middle Office Associate at State Street, your primary responsibilities will involve providing end-to-end support to investment company clients. This includes preparing financial statements, portfolio schedules, and mandatory reports accurately and on time for audits, reviews, and regulatory submissions. You'll also be involved in reviewing client deliverables, training and coaching junior staff, managing workflow, and identifying opportunities for process and system enhancements.
- What is the expected work schedule for this Middle Office Associate role?
- Selected candidates for this Middle Office Associate position will be required to work in shifts. These shifts are designed to provide a reasonable overlap with US, APAC, and EMEA business hours, facilitating training, on-the-job practice, and feedback sessions.
- What qualifications and experience are preferred for the Middle Office Associate role at State Street?
- State Street prefers candidates with a Bachelor's Degree in Commerce, Economics, Business, Accounting, or Finance. Professional qualifications like CA, CPA, or ACCA are highly preferred. Additionally, 2-4 years of experience in Fund Financial Reporting, accounting, or finance is preferred, along with knowledge of US GAAP/IFRS and strong technology, problem-solving, and analytical skills.
- How does State Street support employee growth and development for this role?
- State Street is committed to employee growth. For this Middle Office Associate role, you can expect on-the-job training and coaching. The company also offers development programs, educational support, flexible work-life support, and opportunities to make a mark in the financial services industry from day one.
- What kind of financial reporting knowledge is important for this Middle Office Associate position?
- Knowledge of financial reporting standards such as US GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) is important for this role. Familiarity with specific forms like Form N-MFP and experience in Fund Financial Reporting are also highly valued.