ETF Basket Operations, Senior Associate

Who we are looking for?

The Senior Associate is responsible for supporting day-to-day business operations, overseeing critical processes, and ensuring the timely and accurate delivery of services to clients and internal stakeholders. This role serves as a subject matter expert within the team, provides guidance to junior staff, and contributes to process improvement and risk mitigation initiatives.

Key Responsibilities

Execute and oversee daily operational activities to ensure accuracy, timeliness, and compliance with established procedures.

Review and approve work completed by team members, identifying and resolving exceptions as needed.

Serve as a point of escalation for operational issues and client inquiries.

Analyze workflows and recommend process improvements to enhance efficiency, controls, and service quality.

Collaborate with internal teams, technology partners, and external stakeholders to support business objectives.

Assist with project initiatives, system enhancements, and process automation efforts.

Ensure adherence to regulatory requirements, internal policies, and risk management standards.

Support training, onboarding, and development of team members.

Prepare management reporting, metrics, and documentation as required.

Qualifications

Strong analytical, problem-solving, and organizational skills.

Excellent written and verbal communication skills.

Ability to manage multiple priorities in a fast-paced environment.

Experience with process improvement, operational controls, or project management is a plus.

Preferred Competencies

Attention to detail and commitment to quality.

Client-focused mindset with strong relationship management skills.

Ability to work independently and collaboratively across teams.

Leadership potential with experience mentoring or coaching colleagues.

Strong decision-making and risk awareness.

Key Skills & Competencies

In-depth knowledge of ETF creation/redemption processes and basket operations.

Experience producing and validating Portfolio Composition Files (PCFs), custom baskets, and cash-in-lieu (CIL) components.

Strong understanding of ETF lifecycle events, index rebalances, corporate actions, and security maintenance.

Ability to analyze basket discrepancies, reconcile holdings, and resolve exceptions within tight market deadlines.

Knowledge of equity, fixed income, derivatives, and international market trading practices.

Experience working with fund accounting, custody, portfolio management, trading desks, and authorized participants (APs).

Understanding of market settlement cycles, security identifiers (CUSIP, ISIN, SEDOL), and pricing methodologies.

Proficiency in Microsoft Excel, data analysis tools, and operational platforms used to support ETF servicing.

Strong problem-solving skills with the ability to identify control gaps and implement process improvements.

Experience with operational risk management, incident investigation, root cause analysis, and remediation planning.

Ability to manage multiple priorities in a fast-paced, deadline-driven environment.

Excellent communication and stakeholder management skills, with the ability to interact effectively with clients, portfolio managers, and senior leadership.

Experience supporting process automation initiatives and operational efficiency projects.

Demonstrated attention to detail, accuracy, and commitment to delivering high-quality client service.

Ability to train, mentor, and provide guidance to junior team members.

Preferred Experience

ETF Operations, Basket Operations, Fund Accounting, Middle Office, or Custody Operations experience.

Knowledge of Bloomberg, NSCC ETF processing, DTCC services, and ETF servicing platforms.

Experience supporting domestic and international ETFs, including fixed income and derivatives-based products.

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

Salary Range:

$58,240 - $83,200 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long-term disability, and other optional additional coverages; paid-time off including vacation, sick leave, short term disability, and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance-based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home .

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.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential. As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work-life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most. Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers

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Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition