Who we are looking for
Global Credit Finance (GCF) Loan Operations provides operational support to the GCF division of Markets and Financing. Loan Servicing Unit (LSU) Associate is needed to service credit facilities on the Bank's loan accounting system, process cash transfers and perform reconcilements.
This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements.
Why this role is important to us
The team you will be joining plays an important role in the overall success of the organization. Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. To make that happen we need teams like yours to help navigate employees and the organization as a whole. In your role you will strive for cutting-edge solutions, that are straightforward and scalable. You will help us build resilience and execute day to day deliverables at our best. Join us if making your mark in the financial services industry from day one is a challenge you are up for.
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What you will be responsible for
As an Assistant Vice President you will:
- Coordinate team to update loan accounting system for all new, renewing and terminating counterparties and lines of credit
- Analyze documentation to determine required data entry to loan accounting system •
- Review transactional documentation and process principal, interest and fee transactions on loan accounting system
- Execute cash movements via internal transfer and Fed wire/SWIFT
- Perform secondary review and approval of daily transactions and facility structure changes
- Reconcile general ledger accounts; document and resolve discrepancies timely
- Review and follow up on various exceptions
- Assist with management of Loan accounting system issues development with GCF IT support team
- Assist with regulatory reporting requests, audit requests, and assurance reviews
- Able to identify, mitigate, manage, resolve, and escalate risks and issues
- Boston 4 days per week
- Execute on strategic projects and initiatives in support of the Loan Servicing function.
- Manage the operation of the LIQ and SVS booking platforms, identifying enhancement possibilities and working internal IT partners and business stakeholders to ensure ongoing performance and functionality within the systems
- Develop and enforce procedures, and production schedules to assure timely, accurate completion of servicing functions
- Manage the resolution of any customer concerns
- Ensure adherence to regulations and policies
- Assume additional responsibilities as requested by management
Education & Preferred Qualifications
- 5+ years of loan operations and servicing support
- Demonstrate understanding of Loan Processes, Procedures, Products and Services, and accounting principles
- Proficiency with Loan IQ required
- Proficiency with Microsoft Excel required; macro experience would be desirable
- Good organizational skills and the ability to prioritize under tight deadlines
- Prior banking and/or lending knowledge required
Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don't necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.
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
Salary Range:
$80,000 - $132,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
Job Application Disclosure:
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
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