Who we are looking for
Accounting Operations provides fund accounting services to all subscribing Global Delivery North America's ("Canada") clients. Being responsible for timely and accurate Net Asset Value ("NAV") calculation and dissemination, Accounting Operations has offices in both Toronto and Montreal. Critical functions in the NAV process include ledger to sub ledger review, the processing and verification of all subscription and redemption activity (for unitized products), posting and monitoring of expense accruals, security transaction and corporate action review, monitoring of dividend and interest income and accruals, mark-to-market calculations, monitoring of securities pricing impacts, price dissemination, and generating various accounting based reports. Additionally, Accounting Operations is also responsible for various clients' income distribution calculations and processing, and plays a key role in subscribing clients' financial statement preparations and auditing of the fund / plan. The Officer, Fund Accounting is responsible for managing a group of approximately 5 to 10 fund accounting specialists (two to four direct manager level reports); supporting multiple Asset Manager clients and products including daily priced Mutual Funds, Limited Partnerships, Pooled Funds, and ETF's. Why this role is important to us
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
Education & Preferred Qualifications
- Establish and document clients' accounting requirements. Participate in client and prospective client presentations and operation meetings as required.
- Lead and manage 2 to 4 direct manager level reports. Conduct semi-annual performance reviews for direct reports while assisting senior management define and aspire to a performance driven culture for the entire department.
- Evaluate and minimize risk (financial, reputation, contractual, & operational) through proactive development, implementation, and enforcement of procedures. Implement changes to procedures with a focus of reducing risk, manual inputs, and increasing efficiencies.
- Prepare and submit various management level reporting (e.g. risk reporting, headcount allocation, error and loss memos, etc.)
- Contribute to the improvement of client relationships by meeting or exceeding client timeliness and accuracy NAV benchmarks and demonstrating an understanding of clients' products / funds, proactively engaging in communication, and addressing client concerns / inquiries.
- Promote and function as a "team-player". Work with peers and achieve group/client/unit goals.
- Continuously expand and improve knowledge of financial products and instruments and best practices. Keep abreast of market initiatives, regulatory environment, and evaluate impact to Accounting Operations, State Street, and our clients.
- Actively participate in the planning and reviewing of the semi-annual and annual mutual fund financial statements
- Actively participate in the planning and reviewing of the mutual fund year end distribution calculations and tax returns
- Ensure that there are no negative audit comments; ensure that all key risks, regulatory obligations, and corporate policy requirements are addressed effectively.
- Resolve NAV, reporting, and other accounting related issues escalated by staff and clients.
- Lead and contribute to various department and corporate initiatives
About State Street What we do.
- College or university designation preferably with a concentration in finance or accounting (CGA, CMA, CA, or CFA designations are an asset)
- 5+ years' experience in fund accounting / securities administration / or related financial services
- 3+ years' experience in a management role
- Knowledge of capital markets, complex securities, and Canadian product / fund structures (e.g. mutual fund trusts / corporations, pooled fund trusts, LPs, pension plans, etc.)
- Demonstrate the ability to analyze a problem, obtain and evaluate information and reach sound conclusions
- Advanced computer knowledge of Word, Excel, PC databases, SharePoint and other applications
- Excellent communication and interpersonal skills
- Advanced administration, organizational and time management skills
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