State Street Corporation Senior Fund Accounting Associate Interview Questions and Answers

Q1. Tell about yourself
Ans. 
I am a detail-oriented professional with a strong background in fund accounting and a passion for accuracy and efficiency.
• Over 5 years of experience in fund accounting

• Proficient in reconciling accounts and preparing financial reports

• Strong analytical skills and attention to detail

• Excellent communication and problem-solving abilities

• Example: Successfully managed a portfolio of 20+ funds with accuracy and efficiency
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Q2. Favorite subject / topic
Ans. 
Finance and accounting
• I enjoy working with numbers and analyzing financial data

• I have a strong interest in financial markets and investments

• I excel in budgeting and forecasting

• I am passionate about ensuring accuracy and compliance in financial reporting
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45 minutes, verbal reasoning etc

Q1. Explain derivatives , What is Trade life cycle, explain options.
Ans. 
Derivatives are financial instruments whose value is derived from an underlying asset. Trade life cycle refers to the stages involved in a trade from initiation to settlement. Options are financial contracts that give the holder the right, but not the obligation, to buy or sell an asset at a specified price within a specific time period.
• Derivatives are financial instruments that derive their value from an underlying as...read more
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Q2. Explain Reconciliation process.
Ans. 
Reconciliation process involves comparing two sets of records to ensure they are in agreement.
• Reconciliation process involves comparing financial records, transactions, or statements to identify discrepancies.

• It includes verifying balances, transactions, and other data between different sources.

• Reconciliation helps in identifying errors, fraud, or missing transactions.

• Common types of reconciliations include bank reconc...read more
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Q1. Are you ready for relocation, are you comfortable with night shift,
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Q1. Nav calculation, hedge fund, Mutual funds
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Q1. Deep knowledge of funds
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Q1. Salary negotiation , timings, benefits
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Q1. Take us through your CV
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Q2. Why do you think you are good fit for our organization?
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Q1. What is your understanding in financial markets?
Ans. 
Financial markets refer to the platforms where financial instruments are traded, such as stocks, bonds, and commodities.
• Financial markets are where buyers and sellers come together to trade financial instruments.

• These instruments can include stocks, bonds, commodities, currencies, and derivatives.

• Financial markets can be divided into primary and secondary markets, depending on whether the instruments being traded are n...read more
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Q2. Wht do you know about options, swaps, CDS?
Ans. 
Options, swaps, and CDS are financial instruments used for hedging and risk management.
• Options are contracts that give the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price and time.

• Swaps are agreements between two parties to exchange cash flows based on different financial instruments, such as interest rates or currencies.

• CDS (Credit Default Swaps) are contracts that...read more
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Q1. Corporate action
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Q2. Fund accounting cycle
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Q3. Journal entries
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Q1. NAV Calculation, Reconciliation, difference between NAV & GAV, Corporate Action
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