NAV and 3rd Party Oversight Senior Associate, State Street Investment Management (Hybrid).

Job DescriptionWho we are looking for

State Street Investment Management (SSIM) is the fourth largest asset management firm globally. Global Funds Management is responsible for all treasury, fund administration, and reporting for our EMEA and US Fund Ranges.  This includes valuation, board liaison and reporting, assisting in financial and regulatory reporting, taxation, NAV oversight, expense accruals, service provider oversight, new products.

The candidate will support their team for all governance activities, to ensure that these are being carried out in accordance with standard operating control policy, and that all market, internal, and client escalation queries are handled in an accurate and timely manner.

The candidate is also expected to provide analytical support in any change request onboarding as it pertains to our BAU operating model.  The candidate will also have to make sure that all aspects of the Team’s activities are considered as part of the onboarding process and participate in UAT (User Acceptance Testing), and all other specific tasks that need to be completed ahead of a new conversion.

As such we are looking to fill a NAV and 3rd Party Oversight Senior Associate role responsible for oversight of our EMEA and US net asset value (NAV) calculations and results performed by affiliated and external service providers.  Candidates must evidence experience in the financial service industry with an expertise in a wide variety of accounting structures and asset classes, of the EMEA and US financial products.  Demonstrated experience with EMEA regulatory reporting is a plus. Successful candidates will demonstrate a continuous improvement and innovation mindset and be technologically savvy.

This role can be performed in a hybrid model, where you can balance work from home and office to match your needs and role requirements. Currently, 3 days/week are required to work in the office.

Why this role is important to us

State Street Investment Management is one of the largest asset managers in the world. We partner with many of the world’s largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment process. NAV Oversight is a critical element to our operational effectiveness and its accuracy to the end investor and our regulators.

What you will be responsible for

As an NAV and 3rd Party Oversight Senior Associate you will be involved in;

NAV Oversight

• Review daily, weekly, and monthly NAV oversight reports and control checks.
• Assist in the oversight of NAV calculations prepared by third-party fund administrators.
• Verify that NAV calculations are completed within established deadlines and service level agreements.
• Identify and escalate NAV exceptions, discrepancies, and operational issues to senior team members.
• Maintain oversight records and evidence supporting completed reviews.

Fund Accounting Oversight

• Review fund accounting reports and reconciliations for completeness and accuracy.
• Assist in monitoring accounting treatments for investments, income, expenses, foreign exchange transactions, corporate actions, and derivatives.
• Investigate breaks and exceptions identified through oversight controls.
• Support the review of capital activity, fund expenses, and accrual calculations.
• Review daily NAV movements to fund performance benchmarks, set tolerances and monitor results and challenge tolerance exceedances.

NAV Error Management

• Assist in the investigation of NAV errors and operational incidents.
• Track outstanding issues, remediation activities, and action plans.
• Maintain documentation supporting root cause analyses and corrective actions.
• Prepare summaries of error events and trends for management reporting.

Oversight of Third-Party Service Providers

• Support the oversight of third-party fund administrators and other service providers.
• Monitor key performance metrics and operational deliverables.
• Participate in service review meetings and assist in documenting outcomes and follow-up actions.
• Maintain records of service provider performance and issue resolution.

Regulatory and Risk Management

• Ensure oversight procedures and controls are documented and performed consistently.
• Contribute to process improvement initiatives and enhancement of oversight controls.

What we value

These skills will help you succeed in this role.

• Attention to detail
• Accountability
• Critical thinking
• Risk awareness
• Professional curiosity
• Teamwork and collaboration
• Effective communication

Education & Preferred Qualifications

• Bachelor's degree in Accounting, Finance, Economics, Business, or related discipline.
• 3+ years of experience in fund accounting, NAV oversight, fund operations, valuation oversight, or asset servicing.
• Knowledge of European fund structures, including UCITS and AIFs.
• Knowledge of US fund structures, including ETFs and Master/Feeders.
• Experience working with third-party fund administrators and depositaries.
• Understanding of investment products, including equities, fixed income, derivatives, foreign exchange, and alternative investments.
• Knowledge of IFRS, US GAAP, SEC and IRS standards as they apply to investment companies, partnerships and other fund structures.

Are you the right candidate? Yes!

We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.

About State Street Investment ManagementWhat We Do. As the asset management arm of State Street Corporation, State Street Global Advisors has served the world’s governments, institutions and financial advisors for over four decades. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become one of the world’s largest asset managers with trillions of dollars under our care.