Who we are looking for

The major focus of this role is to act as expert of Depositary controls executed from Poland, in line with the company strategy and resources in the Poland location. Individual holding this role must have deep understanding of regulated funds lifecycle, regulations related to Depositary duties and great leadership skills.

Why this role is important to us

Depositary is an EMEA specific regulatory function with fiduciary duty to the end investor.

European investment funds, whether UCITS or AIF, must appoint a Depositary in accordance with the UCITS and AIFM Directives. The Depositary is responsible for the safekeeping of the investment fund’s assets and therefore ensures separation of those assets from the management of the fund. In addition, the depositary is required to perform oversight functions and, in this way, oversees certain activities of the fund manager such as valuation of the fund assets and monitoring of fund cash flows.

What you will be responsible for:

Person in this role will be responsible for executing following controls (preparation and review):

• Safekeeping of financial instruments
• Ownership verification and record keeping & reconciliation of other assets
• Cash flows monitoring
• Monitoring of investment restrictions
• Oversight of subscriptions and redemptions
• Review of asset valuation and calculation of NAV
• Monitoring of settlement of asset transactions
• Control of income distributions;

Additionally:

• Ensure effectiveness of operational procedures and controls
• Address regulatory / audit requirements and changes
• Initiate process improvement, coordinate end-to-end process changes having focus on risk excellence approach
• Ensure that any procedural inconsistencies or controls are clarified
• Provide technical support to Depositary team members also with the aim to increase the competency among the staff.
• Act as a central contact point when it comes to process improvements at CoE’s side.

What we value

These skills will help you succeed in this role:

• Excellent communication, organizational and planning skills.
• Ability to work with deadlines in a fast paced environment.
• Project management and leadership skills.
• Ability to proactively work under own initiative.
• Attention to detail and concern for quality.

Education & Preferred Qualifications

• Overall knowledge of and minimum 4+ years of direct experience in investment funds operations, financial instruments and fund valuation processes
• Knowledge of UCITS & AIFM directive and its delegated measures
• Proved record of process improvements / simplifications
• Understanding of State Street global transformation initiatives i.e. SSCD
• Fluency in English, Polish, numeracy skills
• Experience with VBA, Xceptor, SQL would be an advantage
• Comprehensive procedural, technical and product knowledge of the Depositary business is fundamental. This should be complemented with a strong understanding of fund accounting, custody and regulatory background of regulated investment funds
• Comprehensive knowledge of systems, including Microsoft Office applications is required

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

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.

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