State Street: Current Graduate Opportunities 2016

Posted on :

25 Jul, 2016

Category :

Graduate Jobs in South Africa

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.

Our promise to maintain an environment where every employee feels valued and able to meet their full potential infuses our company values. It’s also part of our commitment to inclusion, development and engagement, and corporate social responsibility. You’ll have tools to help balance your professional and personal life, paid volunteer days, and access to employee networks that help you stay connected to what matters to you. Join us.

Job Description

Associate 1 – Fund Administrator:

The Fund Setup team is responsible for the co-ordination of the account opening process for new and existing clients within the UKMEA region.

Fund Administrators are responsible for

  • Account openings (accounting & custody)
  • Fund name, beneficiary and share class/series name changes
  • New share class/series set up
  • Market openings
  • Fund closures
  • Client query resolution

Service Delivery

  • Develop an in depth understanding of all aspects of the role
  • Develop a good understanding of the broader operating model
  • Independently perform core tasks per relevant checklists
  • Develop a good understanding of State Street systems
  • Work in a manner that produces accurate and timely results

Fund Accountants:

  • Responsible for reviewing the production of accurate valuations and associated deliverables to meet client and publication deadlines. Daily validation of all purchases, sales, corporate actions and income events. Preparation and review of cash and stock reconciliations, also reconciliations of expenses, interest, dividends and withholding tax. To ensure that all events (trades, income, expenses, etc.) are updated within the general ledger accurately and in a timely manner.
  • Fund Set Up Representatives (FSR) are responsible for completing all requests pertaining to the fund set up process for the UKMEA region as well as other associated deliverables in order to meet client deadlines. Completion and review of new share class/series set up packs. Prepare accounts in SORP format with supporting schedules.
  • Financial Reports and Accounts Associates prepare corporation tax and income tax computations for insertion in the accounts and submission to Inland Revenue as well as performing quarterly tax reviews to ensure reasonableness of taxation accrual. They are also responsible for preparing total expense ratio calculations and interim and final accounts journals


Fund Administrator

  • B.Com. / B. Bus. Sci. / similar
  • 1 – 2 years working experience in a fund administration and/or similar environment is preferable

Fund Accountant

  • B.Com. / B. Bus. Sci. or equivalent qualification
  • Previous experience of daily pricing and / or accounting for unit trusts or other collective investment schemes preferred
  • Experience of working in fund accounting or similar environment preferred
  • Good understanding of fund accounting and/or pricing process.
  • An excellent understanding of accounting principles.
  • An excellent understanding of financial markets and financial instruments.
  • A good working knowledge of MS Excel.
  • High numeric ability and attention to detail.
  • Good interpersonal and communication skills
  • Ability to cope with a steep learning curve and take a proactive approach to learning.
  • Advanced organization skills and ability to work in a pressurized, deadline-driven environment absolutely essential

Job Opening ID

  • State Street Job ID: 128622


  • Location: Cape Town

Closing Statement

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