Core Operations, Associate 2

About the role

The Associate II, Basket Operations supports the daily production, validation, and release of ETF creation and redemption baskets. This role performs intermediate level processing and review activities, ensuring accuracy, timeliness, and adherence to established controls across basket builds, cash components, corporate action adjustments, and intraday (T+0) workflows. The Associate II partners closely with ETF Lead teams, Trading, Transfer Agency, Pricing, Settlements, and Technology to mitigate operational risk and deliver high quality client outcomes.

Key Responsibilities

Basket Processing & Validation

• Produce, review, and validate daily ETF baskets, including cash components, interest factors, and other income adjustments, prior to release and approval
• Execute and evidence required control checks (e.g., basket review macros, early/late index comparisons) and escalate exceptions in a timely manner.
• Corporate Actions & Cash in Lieu
• Process and review corporate action impacts on baskets (e.g., splits, mergers, delistings) and ensure standing instructions are accurately applied.
• Input and review Cash in Lieu (CIL) adjustments in accordance with client instructions and procedural controls.

Controls, Risk & Governance

• Adhere to documented procedures, AML escalation standards, and risk controls to prevent financial or reputational impact.
• Maintain accurate documentation, checklists, and evidence to support audits and management review.

Collaboration & Continuous Improvement

• Coordinate with internal partners (ETF Leads, Trading, Pricing, Settlements, Technology) to resolve issues and support launches, liquidations, and fund changes.
• Identify process improvements and participate in training and knowledge sharing initiatives.

Qualifications & Experience

• Bachelor's degree or equivalent work experience.
• 2-4 years of operations experience within asset management, custody, fund accounting, or ETF servicing is a plus
• Working knowledge of ETF primary market operations, basket mechanics, and corporate actions preferred.

Skills & Competencies

• Strong attention to detail and control oriented mindset.
• Ability to manage time sensitive deliverables in a high volume environment.
• Solid analytical and problem solving skills with clear escalation judgment.
• Effective written and verbal communication; strong collaboration skills.
• Proficiency with operational platforms, Excel, and standard productivity tools.

Salary Range

$41,600 - $66,560 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.

Job Application Disclosure

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.