Location: Cape Town

The programme aims to assist candidates with their career development by providing them with relevant working experience as well as functional, system, industry and corporate training

Core Duties:

Service Delivery

  • Develop a basic understanding of the fundamentals of applicable roles
  • Supervised performance of core tasks as per daily/monthly checklists
  • Develop a basic understanding of State Street systems
  • Work in a manner that produces accurate and timely results

Communication

  • Ensure your line manager as well as other appropriate persons are kept aware of all issues that may impact upon the quality of service being delivered

Personal Development

  • Completion of prescribed training
  • Active participation in mentorship programme

Risk And Compliance

  • Build a sound understanding of departmental policies & procedures
  • Any potential risk incidents should be reported to your immediate line manager in a timely manner

Business Function Overview:

The internship programme involves placement in one of the following business areas.

  • Business Risk
  • Client Reporting
  • Client Services
  • Financial Reporting
  • Fund Accounting
  • NAV Production
  • Pension Fund Accounting

Business Risk identifies, monitors, analyzes and reports on risk factors that may have an impact on the business.

Business Risk Analysts are responsible for:

  • Breach administration and tracking
  • Collation and administration of monthly risk reporting

Client Reporting provides bespoke client and performance reporting to UK asset managers.

Fund Accountants within this team are responsible for:

  • Preparation of monthly and quarterly client reporting packs
  • Upload and validation of performance reporting data
  • Preparation of monthly holdings-based performance reporting

Client Services provides client and custody support services to asset manager and institutional clients within the UKMEA region.

Client Service Representatives are responsible for:

  • Co-ordinating the investigation and resolution of all client queries with relevant internal operational areas
  • Overdraft and failed trade monitoring
  • Maintenance of tax & legal documentation
  • Provision of custody support for all self-managed client funds

Financial Reporting provides financial reporting services to SA asset managers.

Financial Reporting Accountants are responsible for:

  • Preparing all components of the interim and final accounts
  • Corporation and income tax computations
  • Total expense ratio calculations.
  • Compiling monthly reconciliation packs with supporting schedules

Fund Accountants within this team are responsible for:

  • Daily fund NAV (Net Asset Value) computations
  • Validation of all purchases, sales, corporate actions & income events.
  • Completion of cash, share, expense, interest, dividends and withholding tax reconciliations.

Pension Fund Accounting provides monthly fund accounting services to asset owner clients within the UKMEA region.

Fund Accountants within this team are responsible for:

  • Monthly fund NAV computations
  • Validation of all month-end reporting, including fund trade activity, income activity and security pricing
  • Completion of daily and monthly cash, security and IM reconciliations

Qualifications

Skills and Knowledge:

  • A basic understanding of accounting principles
  • A basic understanding of financial markets and financial instruments
  • A good working knowledge of MS Excel
  • Strong numerical ability and attention to detail
  • Good communication skills
  • Ability to cope with a steep learning curve and take a proactive approach to learning
  • Ability to work in a pressurized, deadline-driven environment is essential

Level of Education:

  • Programmes: B.Com. / B.Com (Honours) / B.Bus.Sci. / similar
  • Majors: Accounting / Auditing / Finance / similar

How to Apply

Apply Online for the State Street: Graduate / Internship Programme 2017

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