ETF Basket Creation, Associate 2 at State Street

Job Summary

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.

• 0-2 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.

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 State Street.com/careers

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.

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.

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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.