State Street is hiring for the position of Apprentice in Bangalore, India. Candidates with a Bachelor’s/ Master’s Degree are eligible to apply for this position. The complete information, eligibility criteria, and requirements are provided below.
Job Description:
| Company Name | State Street |
| Position | Apprentice |
| Qualifications | Bachelor’s/ Master’s Degree |
| Experience | Freshers |
| Location | Bangalore, India |
Key Responsibilities:
Fund Accountant:
- Calculate daily Net Asset Values (NAVs) by performing end-to-end fund accounting activities to ensure accurate and timely fund pricing.
- Act as the primary point of contact for all accounting support functions related to assigned funds.
- Review, analyze, and validate accounting data received from various sources to identify discrepancies.
- Monitor, investigate, and resolve accounting breaks in a timely and professional manner.
- Ensure accurate delivery of fund accounting outputs to clients within defined service timelines.
Financial Reporting Specialist:
- Prepare annual audited and interim unaudited financial statements in accordance with applicable accounting standards.
- Generate first drafts of financial statements from trial balances, including Profit & Loss statements, Balance Sheets, Cash Flow statements, and Schedules of Investments.
- Prepare notes to financial statements and support audit and review processes.
- Ensure accuracy, completeness, and timely delivery of financial reports.
Derivatives Specialist:
- Process complex futures and options transactions for European exchange-traded derivatives portfolios.
- Support the Centre of Excellence book of business and supplementary offshore derivative operations.
- Act as a central point of contact for clearing banks and client service teams across locations.
- Support cash instructions and margin-related activities associated with derivative instruments.
- Identify and implement process improvements to ensure accurate and efficient recording of derivatives.
Financial Accountant:
- Perform day-to-day accounting activities, including document processing, journal entries, and payment preparation.
- Prepare and review account reconciliations to ensure accuracy and completeness.
- Verify financial reports and support month-end and period-end close activities.
- Participate in ad hoc projects and additional assignments as required.
Treasury Accountant:
- Process treasury transactions across money market and capital market instruments.
- Prepare and approve payments in line with internal controls and authorization limits.
- Manage collateral and margin requirements and monitor minimum reserve balances with central banks.
- Reconcile bank accounts and cash positions reflected on the balance sheet.
- Support treasury-related reporting and assigned projects.
Transfer Agency Administrator:
- Process investor trades, including subscriptions, redemptions, and transfers.
- Maintain investor accounts and ensure accurate recordkeeping.
- Review investor documentation to ensure compliance with Anti-Money Laundering (AML) requirements.
- Enter transactions into the Investor Services System (ISS) and store documentation in the Document Management System (DMS).
- Investigate, report, and resolve investor-related issues in a timely manner.
Middle Office Administrator:
- Process daily trade files submitted by funds on trade date.
- Perform trade-date confirmations using electronic, telephonic, or hard-copy confirmations.
- Validate trade details against information received from approved counterparties.
- Monitor and resolve trade fails and mismatches involving prime brokers, custodians, and funds.
- Review and investigate discrepancies in prime broker and custodian reports.
Pricing Administrator:
- Support the accurate and timely pricing of securities held within investment funds.
- Price exchange-traded securities in accordance with valuation policies.
- Validate prices against external data sources such as Bloomberg, Reuters, and FTID.
- Investigate and resolve pricing discrepancies to ensure valuation accuracy.
Risk Analyst:
- Support the Enterprise Risk Management (ERM) framework by implementing risk management policies, guidelines, and limits.
- Identify, assess, and monitor operational, credit, legal, regulatory, reputational, and other enterprise risks.
- Assist senior management and business leaders in mitigating and managing risk exposures.
- Prepare risk analysis reports and support ongoing risk governance activities.
Compliance Analyst:
- Monitor client portfolios for compliance with regulatory requirements and Investment Manager (IM) mandates.
- Utilize State Street’s Investment Compliance & Reporting platform to perform compliance checks.
- Conduct research, analysis, and reporting to identify and resolve compliance breaches.
- Ensure portfolios adhere to defined investment restrictions and guidelines.
Data Management Analyst:
- Collaborate with IT and Investment Compliance/Market Conformity teams to procure data required for daily compliance checks.
- Maintain and update market data, static data, and holdings data used for compliance monitoring.
- Ensure data accuracy and completeness for information not received via automated feeds into the core MIG 21 application.
- Support data quality initiatives and resolve data-related issues.
Anti-Money Laundering (AML) Specialist:
- Review investor AML documentation in accordance with established AML policies and regulatory requirements.
- Liaise with Transfer Agency teams to request and obtain missing or additional investor information.
- Communicate with investors and clients to resolve AML documentation gaps.
- Ensure timely completion of AML reviews to support onboarding and transaction processing.
Eligibility Criteria:
- Demonstrate a well-rounded academic profile with strong analytical skills and effective written and verbal communication abilities.
- Pursuing or holding a degree in Finance, Accounting, or Economics is preferred; candidates from other academic disciplines are also eligible.
- Show a strong interest and motivation to build a long-term career in the finance industry.
- Participation in student organizations or extracurricular activities is considered an added advantage.
- Possess good proficiency in written and spoken English.
- Have basic working knowledge of Microsoft Office applications.
- Demonstrate a strong sense of individual ownership and accountability in completing assigned tasks and responsibilities.
- Exhibit the highest standards of professional ethics and adhere to the organization’s Code of Conduct.
- Provide accurate and timely management information as required to support business unit decision-making.
- Actively support and promote a culture of risk excellence within the organization.
- Adhere to defined delegation limits and escalation procedures in compliance with internal policies and external regulatory requirements.
About Company:
At State Street, we partner with institutional investors all over the world to provide comprehensive financial services, including investment management, investment research and trading, and investment servicing. Whether you are an asset manager, asset owner, alternative asset manager, insurance company, pension fund or official institution, you can rely on us to be focused on your challenges. We are committed to doing what it takes to help you perform better — now and in the future.
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