Alternative Ops Fund Accounting, Associate 2
About The Position
State Street is seeking a bright, enthusiastic, and hard-working individual interested in learning about accounting for complex investment transactions and structures. The role is part of State Street Alternatives, an operation providing fund accounting, fund administration, and risk services to alternative investment fund managers. It offers work in a dynamic, challenging, and fast-paced environment, supported by leading-edge technology, procedures, and controls. The Associate will process and monitor fund activities, prepare calculations and accounting materials, support periodic and quarter-end processes, and help ensure internal workflows meet processing and client deadlines. The position involves working with internal service teams and external parties, maintaining controls and service-level standards, escalating issues when needed, and contributing to operational improvements and projects. Overtime may be required. State Street describes its work environment as professional yet casual and highlights competitive, comprehensive benefits, flexible work support, development and educational programs, paid volunteer days, and employee networks. The role’s stated annual salary range is $41,600–$66,560, with the applicable range potentially varying by work location.
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.
- Team-oriented and collaborative approach.
- Strong attention to detail, accuracy, and organization.
- Strong analytical skills and a proactive approach to problem-solving.
- Confident, decisive, and energetic.
- Strong work ethic, 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 the daily processing and monitoring of fund activities.
- Prepare capital call and distribution calculations and related investor notices.
- Prepare or 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 workflow to meet internal processing and client deadlines.
- Work with other service departments to resolve errors or issues and reconcile discrepancies.
- Establish and maintain good 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 according to corporate policy, guidelines, 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.
- Continue personal education and development by attending State Street training sessions.
Benefits
- Retirement savings plan (401(k)) with company match.
- Insurance coverage including basic life, medical, dental, vision, and long-term disability, with other optional additional coverages.
- Paid time off, including vacation, sick leave, short-term disability, and family-care responsibilities.
- Employee Assistance Program.
- Eligibility for annual performance-based incentive awards, excluding certain sales roles subject to sales incentive plans.
- Eligibility for certain tax-advantaged savings plans.
- Flexible Work Program and flexible work-life support.
- Development programs and educational support.
- Paid volunteer days.
- Matching gift program.
- Employee networks.
- Competitive and comprehensive benefits packages, with details varying by location.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
