Job Description
BASIC PURPOSE:
Perform the day-to-day operational processes and core deliverables within the compensation team. Understand and assist in the overall coordination of the operational risk management, resource planning, and staff training required for the effective operation of the team. Provide assistance to the Management in managing of the team, and to ensure that client service is central to the workings of the group.
•Should be able to handle escalation
•Assist Senior Management in reporting and any adhoc requirement
Major Responsibilities
•Ensuring daily/weekly/monthly reports are delivered in timely manner with 100% accuracy
•Work with corresponding banks or counterparties to reduce overall exposure to the organization
•Ensure that all claims are resolved in timely manner and are escalated accordingly for immediate resolution
•Ensure that all KPIs are met on monthly basis are discussed with AVP
•Any escalated issues are addressed immediately and steps taken to avoid recurrence
•Ensure that all aspects of risk and compliance are covered with the team on a weekly basis and are met
•Ensure that all regulatory requirements and reports are done timely including compliance trainings for the team
•Ensure errors are minimized and Bank's exposure to financial loss is minimized
•Check and verify swifts and payment entries as the first line of defense
•Assist with review for current operating procedures. Make recommendations for improvement that eliminates processing deficiencies, addresses operational risk and ensures ongoing focus on best practice
•Know the CSDR process front to back including the technology interactions and all SOPs involved with the function
Client Service
•Respond promptly to client (internal / external) concerns, needs and requests
•Ensure all agreed deliverables and standards are met
•Provide exception client service in the CSDR penalty space, this will include a combination of internal and external clients
Change Management
•Demonstrate a willingness to support change / initiatives within Bank (locally / globally)
•Demonstrate ability to take on tasks without instruction
•Assist with tasks associated with technology and procedural changes that effect the compensation team (global/local/industry)
•React to the ever-changing CSDR environment while proactively anticipating changes to the service level expectations put forth by external client and internal business units
Products / Services Supported
•FX / MM / TSY / TMPG / Security / OD Claims
•Revaluations
•Interest Analysis
•Primary Nostro
•CSDR
Requirements
Education and Experience
•Industry Accreditation
•Demonstrated market knowledge and relevant market experience into compensation and settlements
•A strong aptitude for information technology including MS office, Crystal, SWIFT
•Knowledge and Hands on experience on Copilot & Claude
Skills/Knowledge
•Candidate should have good analytical skills
•Effectively communicate with internal and external clients
•Demonstrate the ability to assess and suggest resolution to a problem
•Understanding of Bank's product and services and the working relationship between front and back offices
•Be a strong team player
•Demonstrate professional maturity and effective time management
•Embrace State Street's "Corporate Values" and support a work environment reflective of those values
About State Street
State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. For more than two centuries, it has helped clients safeguard and steward the investments of millions of people, providing investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
