Core Operations, Senior Associate

Job Description
Who we are looking for
Responsible for the operational management of the payments team in co-ordination with the Assistant Vice President. Direct responsibility for managing internal and external deliverables; and a team of resources to meet the daily operational needs of our business and clients. Client service focus is paramount and involves both internal and external client groups. Understanding and actively managing the team’s operational risks, processes and procedures is essential. Provide assistance to senior management in providing best practice implementation, risk management, client relationship and client service services to clients.
What you will be responsible for
Risk and Compliance
Ensure that all daily tasks are completed in accordance with current operating procedures and prescribed deadlines
Ensure FX standing instruction placed by clients are executed accurately in timely manner
Monitor the payment team’s daily workflows, particularly the IBS queues ensuring that all transactions are released
Ensure the timely completion of error/loss memo reports by the relevant supervisor, review and initiate appropriate action/s. Distribute to the senior management in a timely manner
Ensure all information in operating procedures is accurate and current at all times
Responsible for the ongoing review of current operating procedures to eliminate processing deficiencies, detect major areas of risk and implement best practice recommendations. Communicate changes to the relevant staff and management
Ensure all information prepared by the team has adequate and appropriate sign off supervision and control
Ensure full adherence and implementation of the State Street’s Corporate Policies, Standard Operating Procedures, relevant legislation and regulatory requirements
During the course of normal day to day operations, responsible for identifying any unusual or potentially suspicious transaction activity and reporting and/or escalating in accordance with corporate policy and guidelines details in relevant operating procedures
Design and enhance the team’s risk reports to incorporate the businesses changing risk profiles and needs.
Be aware of all business contingency plans; assist both the department’s representative and the relevant business BCP manager as needed.
Annually review the business continuity plan for areas of responsibility. Invoke contingency procedures as required. Communicate actions to management and staff
Contribute to the preparation of the departments corporate audit
Staff Management and Resourcing
Responsible for managing all aspects of resourcing within teams, including leave and shift coverage, overtime and staff retention
Manage workflows to ensure an equitable distribution of work amongst staff is achieved
Provide appropriate sign off supervision and control on days where team supervisors are out of the office
Provide direct, understandable and timely feedback to staff in order to improve on the job performance
Create an environment which promotes teamwork, motivates, rewards and supports staff
Ensure appropriate resources and support, including training and industry sessions, are available to enable staff to achieve business and personal objectives
Monitor training in line with local regulatory and accreditation requirements
Develop staff so that they have the required skills to complete their job and are cross trained across both teams to provide coverage
Client Service / Relationship
Keep current on the status of open items with State Street custody, local banking agents, correspondent banks (general, CLS, Equity Funding); participate in the resolution of problems as required
Keep State Street custody informed of changes in processes and market requirements
Approve the processing of late payment requests
Respond promptly to client (internal / external) concerns, needs and requests
Ensure all agreed deliverables and standards are met
Monitor internal service delivery levels against established standards
Provide 3rd party (correspondent banks, local agents) feedback, to the relevant relationship owners
Work with senior management to escalate an items requiring action and put in to place tools to monitor
Develop and sustain relationships by initiating communication on a regular basis, both by telephone and in person
Constantly review client utilisation of deliverables; eliminate unnecessary services provided
Change Management
Promote and support change / initiatives within Global Services (locally / globally)
Act as local / regional (where applicable) contact point for technology and procedural changes that effect the payment and investigations team
Ensure all tasks for initiatives are detailed and monitored for completion, developing and coordinating a local implementation approach. Delegate tasks where appropriate
Provide local management with regular updates of all open initiatives
Participate in the departments business planning and goal setting
Products / Services Supported
China-HK Connect FX processing
HKD self clearer for State Street Bank and Trust, Hong Kong
CLS settlement monitoring
Custody Payment Processing
Funding Secondary, Primary & Equity Trading Nostro Accounts
Reconciliations and Investigations
About State Street
Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.
As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.
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