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Company Name : State Street
Location : Hyderabad, Telangana
Position : Associate 2 – Regulatory Account Set-up
Job Description : Who we are looking for
State Street’s Global Markets division (SSGM) is looking for a candidate with 2 to 4 years of experience in Regulatory Onboarding/Regulatory Static Set-up/Dodd Frank and EMIR Regulations/Client Onboarding. Knowledge of ISDA, CSA, EBC, Swap Doc, Port Rec, Variation Margin, Initial Margin & ISDA Stay Requirements, would be an added advantage.
Why this role is important to us
The team that you will be joining involves Regulatory activities and as a part of the Regulatory Account Set-up team, we have to ensure that the clients are compliant with various regulatory requirements (FDIC, Dodd Frank, EMIR and Volcker) and State Street is meeting its regulatory obligations.
What you will be responsible for
Review the Trade Exceptions Monitoring tool on a regular basis and address the trade exceptions on the same day by contacting the clients/qualifying the clients for compliance with Dodd Frank regulations (EBC, Swap Doc, QFC Stay, Variation Margin and Initial Margin) in our inhouse systems.
Review the client’s documentation (ISDA, CSA, etc.)/information on Markit Website to determine, if the client has provided the required materials/protocol questionnaires that satisfy the EBC, Swap Doc, QFC Stay, Variation Margin and Initial Margin obligations
Set-up accounts/funds/investment managers in our inhouse systems and ensure that it is compliant with various regulatory requirements (FDIC, Dodd Frank, EMIR and Volcker)
Track and monitor potential Trade Monitoring/Regulatory Account Set-up /FATCA and CRS issues and delays
Resolve and escalate Trade Monitoring/Regulatory Account Set-up /FATCA and CRS issues proactively and in a timely manner
Maintain static data across multiple platforms
Maintain strong working relationship and liaise with internal Counterparts, Clients, Sales, Trading, -Credit, Legal and Operations when the accounts are not compliant for Dodd Frank and EMIR regulations
Respond to queries regarding the status of specific requests or new clients
Maintain and continuously develop knowledge around core products of business unit and key applications in use by the business unit
Demonstrate a high standard of care while examining data in Trading Agreements (ISDA, FMLG), CSA, VM & IM CSA and Tax Forms (W9 and W8 Series)
Gather tax related documents to comply with US and foreign Tax regulatory requirements (FATCA and CRS)
Review and validate trading counterparties to confirm their tax status
Support the tax form validation process
Generate tax related reports in a timely manner – Report all the accounts that are subjected to CRS and FATCA
What we value
Skills & Knowledge
Prior Trade Exceptions Monitoring/Regulatory Client Onboarding/Set-up experience would be a plus
Knowledge of ISDA, CSA, EBC, Swap Doc, Port Rec, Variation Margin, Initial Margin & ISDA Stay Requirements, Dodd Frank & EMIR Regulations and FATCA & CRS would be an added advantage
Excellent communication skills in oral and written forms
Strong team player
Strong ability to multi-task and work under pressure
Strong problem-solving skills and “can do” attitude
Strong organizational skills
Ability to identify and appropriately escalate issues and risks
Perform work independently on specific assignments
Strong attention to detail
Demonstrate a high Standard of Care when reviewing data in ISDA, CSA, Tax Forms and Markit Website, setting up the accounts in our inhouse systems and clearing the trade exceptions from the Trade Monitoring tool
An ability to apply lessons learnt to future work
The desire to see an issue through to completion
The desire to play a part in issue resolution
Pride in one’s personal work and an understanding of how it impacts the organization
Education & Preferred Qualifications
M.Com/MBA in Finance
Additional requirements
Experience: 2 to 4 years of experience in Regulatory Onboarding/Regulatory Static Set-up/Dodd Frank and EMIR Regulations/Client Onboarding.
Shift Timings: 7 AM to 4 PM IST
Work Location: Hyderabad
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
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