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

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Job Description

Who 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 Officer 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 s 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 Officer you will be involved in;

NAV Oversight

• •Perform independent oversight of daily, weekly, monthly, and ad hoc NAV calculations for European and US investment funds.
• •Review NAV packages and key control reports to assess the completeness and accuracy of fund accounting records.
• •Monitor delivery of NAV calculations in accordance with prescribed service level agreements and regulatory deadlines.
• •Escalate material NAV issues, pricing exceptions, and operational risks to senior management and fund boards, as appropriate.
• •Ensure NAV oversight activities are performed in accordance with the Management Company ("ManCo") or Alternative Investment Fund Manager ("AIFM") oversight framework or US offering document requirements.

Fund Accounting Oversight

• •Review accounting impacts and treatments for investments, derivatives, foreign exchange transactions, corporate actions, income accruals, expenses, and taxation.
• •Monitor complex accounting events including:
• •OTC and exchange-traded derivatives
• •Securities lending transactions
• •Capital activity and investor dealing
• •Equalization methodologies
• •Swing pricing and anti-dilution mechanisms

• •Challenge fund accounting outputs where discrepancies or inconsistencies are identified.
• •Review daily NAV movements to fund performance benchmarks, set tolerances and monitor results and challenge tolerance exceedances.

NAV Error Management

• •Investigate NAV errors and breaches of established tolerance levels.
• •Coordinate root cause analysis and corrective action plans with service providers.
• •Ensure NAV error events are documented, remediated, and reported in accordance with regulatory requirements and internal policies.
• •Track recurring issues and oversee implementation of process improvements.

Oversight of Third-Party Service Providers

• •Conduct periodic reviews of fund administrator control environments and operational performance.
• •Monitor key performance indicators ("KPIs") and key risk indicators ("KRIs").
• •Participate in service review meetings and operational due diligence assessments.
• •Assess service provider compliance with contractual obligations and regulatory expectations.
• •Produce management information and trend analysis regarding service provider performance and fund accounting quality.

Regulatory and Risk Management

• •Maintain a strong understanding of UCITS, AIFMD, CSSF, CBI, FCA, 1940 Act and other applicable regulatory requirements.
• •Support regulatory examinations, audits, and depositary oversight reviews.
• •Contribute to development and maintenance of NAV oversight policies, procedures, and governance frameworks.
• •Identify and assess operational, valuation, and regulatory risks impacting fund structures.

What we value

These skills will help you succeed in this role.

• •Strong analytical and problem-solving skills.
• •Ability to challenge service providers and investigate complex accounting issues.
• •Excellent stakeholder management and communication skills.
• •Strong attention to detail and risk awareness.
• •Ability to manage multiple priorities within a regulated environment.
• •Sound judgment and decision-making capabilities.

Education & Preferred Qualifications

• •Bachelor's degree in Accounting, Finance, Economics, Business, or related discipline.
• •5+ years of experience in fund accounting, NAV oversight, fund operations, valuation oversight, or asset servicing.
• •Strong knowledge of European fund structures, including UCITS and AIFs.
• •Strong 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 Management

What We Do. As the asset management arm of State Street Corporation, State Street Global Advisors has served the world’s gov