This is my experience working for a Custodian Bank is a wonderful experience for me. I was called for the role of Senior Financial Analyst. The Custodian was kind of new in the Philippine Market so that time they were mass hiring for talent. And from that, I got a call from HR as well if I was interested. Back then I was a bit hesitant because I kind of don’t want to leave my comfort zone, and somehow, some part of me want to take because of the promotion.
Back then I was not even sure about the process the HR just told me that the process is Settlements, and the product is Derivatives.
Handling Futures and Options was a wonderful experience for me because it was the first Financial Markets product I handled. State Street sent Subject Matter Experts, Vice President Todd Batson was one of them and we immediately get along coz’ he was a rock and roll fan. I gave him a guitar pick as a symbol of gratitude for teaching us the process.
“An options contract gives an investor the right, but not the obligation, to buy (or sell) shares at a specific price at any time, as long as the contract is in effect. By contrast, a futures contract requires a buyer to purchase shares—and a seller to sell them—on a specific future date, unless the holder’s position is closed before the expiration date.”
Working in State Street, in my own experience, here are the things I have learned through out my stay in the company:
📈 They give value to learning.
Our rigorous training was not just dealing with Standard Operating Procedure documents, but they sent SMEs for us to be able to train us and accommodate our questions. It may be about the process, business, etc.
📈 The business since its global market we are servicing, it is 24-hours.
You may wonder if in the interview they would ask you if you were amenable to any shifts. That is because some of the counterparts are based in other regions. Before our counterparts in the bank were based in NA, and EMEA so we must adjust on a GMT basis (not a morning person back then anyway).
📈 They are offering global mobility opportunities.
I know colleagues that have been domiciled in different sites and became full time outside the local site. It is a good measure as well to have mobility and it is also a good diverse opportunity to have outside experience.
I am thankful for all the opportunities State Street has given to me, also the opportunity to handle people and check their work and provide Process Improvements within our team.
To learn more about Derivatives, look for courses at fmi.online and get certified!
Article Published by: Carlos Payumo Garcia, CLSSYB.
60+ hours
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