blog Bonorum et Malorum

Working for a custodian bank at State Street Global Advisors

Written by Fmi.Online

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. 

More Articles

Investment Banking

The role of investment bankers in the financial world: what do investment bankers do, and why are they important?

Investment bankers play a critical role in the financial world by helping businesses and governments raise capital, facilitating mergers and acquisitions, and providing strategic advice on corporate restructuring. They are vital to the functioning of the capital markets, and their work helps drive economic growth and stability.

Read more

Is A Career As An Investment Banker For You?

A job as an investment banker comes with lots of perks, and a great salary. You work with smart people, get open doors and gain lots of experiences fast. Find out if investment banking is the right career choice for you today.

Read more
Investment Banking

How can you earn a six-figure salary at top investment banking firms without any experience in 2023

To earn a six-figure salary as a fresh investment banker, you need to work hard to get a full-time job at a top investment bank and maximize your bonuses. A strong educational background, relevant skill set, and investment banking internships can help you secure a job.

Read more

How you can get a front-facing role in a top investment bank without any experience in 2023

Learn how to get a front-facing role in a top investment bank without any prior experience. Understand what front desk jobs in finance are and the skills required, get the right qualifications, internships, network, and build the right skill set. Show your willingness and dedication to the role through internships, and make a good impression through networking.

Read more

What does an investment banking intern at top banks do on a daily basis?

An internship will involve working for long hours in a dynamic environment, with high standards for accuracy and work ethic. You must be aware of the practical workings of the industry to cope with your work

Read more
News

What are the latest investment banking internship hiring trends in 2023

To stay relevant and competitive, investment banks have adapted new hiring practices in the technology-dominated, post-COVID world. These hiring trends were visible across financial institutions. While in the previous calendar year institutes were worried about staffing and labour shortage, banks were predicting a long struggle for employees to continue to post the COVID-19 pandemic, according […]

Read more
Investment Banking

How to get the right investment banking certification

The lucrative growth prospects of investment banking make it a brutally competitive industry. Having done a relevant investment banking course improves your odds of breaking into the industry. However, investment banking courses come in different shapes, sizes and forms. The elementary investment banking courses provide students with an overview of the industry and its functions, […]

Read more
Investment Banking

What are the rarest skills the world’s top investment bankers are looking for?

Investment bankers are responsible for heavy corporate transactions like mergers, acquisitions, IPOs, fundraising, and investment advisory. A career in investment banking is demanding, highly competitive and challenging. The right skillset, however, can help you build a successful career in investment banking by making the job easier and more efficient. In this article, we will explore […]

Read more

How can you land an investment bank internship

Top investment banks offer investment banking internship programs, each year, hiring graduates to work for 3-4 months in their offices. Through these internships, interns get first-hand experience working in an investment bank, gain an opportunity to network with other bankers, and improve their resumes. More importantly, aspiring investment bankers can see if they have the […]

Read more
Interview Prep

What you might be lacking in your IB interview prep

Going through the fundamentals of finance, working on DCF calculations, and preparing financial models are some of the more obvious things that an aspiring investment banker prepares for before interviewing for a job at a top investment bank. But what about the subtle nuances that could determine whether you will land a job or not? […]

Read more
Our Courses are designed to boost your career

Launch your career with Fmi’s Learning Pathway

Choose a learning pathway that best meets your needs and ambitions. Not sure which Fmi learning pathway is right for you? Explore our CareerBuddy videos for help and advice.

Investment banking pathway

Investment banking pathway

Monthly Subscription
  • courses-clock60+ hours
  • courses-desktop9 courses

Investment banking offers many exciting career opportunities for students. From Financial Analysts to Investment Management, and Sales & Trading to a wide range of roles in infrastructure such as IT, Risk or Compliance. This pathway is designed to help you understand the investment banking industry, the roles investment banks are recruiting for, and most importantly, help you to develop the practical skills you need to get into the industry and your preferred role whether this be as part of a school leaver, intern or graduate program.

FMI Online Student join-student-img2 FMI Online Student
55,000+ students currently enrolled
Global markets pathway

Global markets pathway

Monthly Subscription
  • courses-clock70+ hours
  • courses-desktop10 courses

Global markets provide a range of important products and services to corporates, institutions and governments worldwide from executing trades and managing risk to providing quality research content. A key business area in all investment banks, global markets offers a wide range of career paths for students to consider across all functions and at all levels from school leavers to internships through to graduate programs.

FMI Online Student join-student-img2 FMI Online Student
85,000+ students currently enrolled
Asset management pathway

Asset management pathway

Monthly Subscription
  • courses-clock50+ hours
  • courses-desktop8 courses

The asset management industry is a global industry worth over 100 trillion US dollars. It plays a crucial role in managing the assets of retail and institutional investors, offering a wide range of exciting careers in doing so. If you’re looking to forge a career in asset management, our Asset management pathway is perfect for you. We help you build the skills all asset managers are looking for and explore everything you need to know about the industry and the wide range of roles available in the sector

FMI Online Student join-student-img2 FMI Online Student
100,000+ students currently enrolled