Alternative Ops Fund Accounting, Associate 2
About The Position
The Associate 2 will support State Street Alternatives’ fund accounting and administration services for alternative investment fund managers. The role involves processing and monitoring fund activity, preparing and reviewing accounting calculations and reconciliations, supporting quarter-end closing, and coordinating with internal teams and external parties to meet client deadlines and service-level requirements. The position is in a dynamic, fast-paced environment and offers opportunities to contribute to process improvements, client projects, new business setups, and ongoing professional development.
Requirements
- College diploma or university degree with a concentration in Accounting, Finance, or Economics.
- Working knowledge of Microsoft Excel and Word.
- Excellent communication and interpersonal skills.
- Ability to work collaboratively as a team player.
- Strong attention to detail, accuracy, and organization.
- Strong analytical skills and a proactive approach to problem solving.
- Confident, decisive, and energetic approach.
- Strong work ethic and flexibility, adaptability, and ability to work within deadlines.
- Can-do attitude and high energy.
- Self-motivation and a passion for learning and growth.
Nice To Haves
- Knowledge of Bloomberg.
Responsibilities
- Complete daily processing and monitoring of fund activities.
- Prepare capital call and distribution calculations and related investor notices.
- Prepare and review periodic bank and cash reconciliations and post journal entries.
- Prepare quarterly management fee calculations.
- Prepare waterfall calculations and capital account allocations.
- Prepare fund trial balances and supporting workpapers.
- Assist with the quarter-end book closing process.
- Help manage internal workflows to ensure processing and client deadlines are met.
- Work with other service departments to resolve errors and issues or reconcile discrepancies.
- Establish and maintain effective working relationships with internal clients and colleagues.
- Ensure processes comply with service-level agreements and escalate issues when necessary.
- Participate in special client or internal projects as required.
- Assist with new business setup and conversions.
- Identify unusual or potentially suspicious transaction activity and report or escalate it in accordance with corporate policies and operating procedures.
- Adhere to standard procedures and controls.
- Initiate, propose, and implement improvements to enhance efficiency and accuracy.
- Liaise with investment managers, auditors, and banks.
- Pursue ongoing education and development by attending State Street training sessions.
Benefits
- Retirement savings plan (401K) with company match.
- Insurance coverage, including basic life, medical, dental, vision, and long-term disability, with optional additional coverages.
- Paid time off, including vacation, sick leave, short-term disability, and leave for family care responsibilities.
- Employee Assistance Program.
- Eligibility for annual performance-based incentive awards, except for certain sales roles subject to sales incentive plans.
- Eligibility for certain tax-advantaged savings plans.
- Flexible Work Program and flexible work-life support.
- Paid volunteer days.
- Matching gift program.
- Employee networks.
- Development programs and educational support.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
Associate degree
