The Securities Financing Transaction Regulation (SFTR) is the latest in a line of regulatory change to be enforced on the financial service industry.

The Transaction Support Service team is a newly formed team, and has the responsibility of ensuring SSGM can meet expectations in the industry to match and affirm transaction details with counterparts prior to reporting under the SFTR regulation.

The successful candidate would initially be expected to work with the SFTR project team & onshore oversight teams to become an SME on SFTR obligations and technical solution for matching. As well as performing testing, the role will involve training later hires on SFTR when volumes increase later in the year.

FUNCTIONAL RESPONSIBILITIES:

Work with SFTR project team and onshore oversight teams, providing feedback on design, build and test of a new matching solutionWork to identify common mismatch reasons and drive solutions to underlying issuesBecome an SME on State Street’s SFTR matching solution, participating in testing and subsequent training of other staffEnsure that all eligible SFTR trades have been correctly matched with the relevant counterpart prior to SFTR reporting.Ensure all counterparts who require data shared with them for SFTR reasons receive their data on time, and liaise on queriesManage SFTR matching exceptions within our new solutionCommunicate with multiple internal departments (Trading, Middle Office, Static Data, Payments, Investigations, IT) to resolve breaks, counterparty queries and trade discrepancies on a time sensitive basis.Clearly communicate and escalate issues that impact business in a timely mannerMaintain MIS for monthly reporting to senior managementReview and/or implement controls when applicable to reduce risk.

Required Skill set

4-5 years’ of experience in the securities operations divisions, preferably in Stock lending & borrowing (SF, FACT & Credit services) and Repurchase arrangements (Global Treasury) Experience of a working in a high volume pressured environmentOperational knowledge of trade and transaction reporting under MiFID, EMIR,etcWorking experience in MARKIT,LOANET,  EQUILEND, PIRUM, TRI-OPTIMA preferredKnowledge of trade repositories like DTCC, Unavista and Bloomberg, highly preferableStrong analytical, organizational and customer service skills.Excellent communication, interpersonal and relationship skills, that include the ability to build productive working relationships across teams and functions; and the ability to foster an environment of open communicationAbility to work collaboratively with other business units.Proficiency in Microsoft Office applications – Word, Excel, AccessKnowledge of industry platforms, particularly SBL asset class

Ability to:

Work under own initiative. as well as part of a teamMulti-taskWork under pressure to meet deadlines and escalate issues in good time.Challenge the status quo#Learn quickly

Can demonstrate:

Very strong attention to detailUnderstanding of the lifecycle of a trade, particularly an FX derivativeThe desire to improve the processes they perform

About State Street

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