Alternative Ops Fund Accounting, Associate 2
About The Position
Join State Street’s Alternatives operation, an industry-leading provider of fund accounting, fund administration, and risk services to alternative investment fund managers. The role supports integrated end-to-end solutions for institutional investors in a dynamic, challenging, and fast-paced environment, using a leading-edge technology infrastructure and established procedures and controls. The position offers a professional yet casual work environment and opportunities for learning and development in an expanding international company. The Associate 2 supports daily fund accounting and operational workflows, periodic and quarter-end processes, client and internal deadlines, issue resolution, and process improvements. The role also involves liaising with investment managers, auditors, banks, and internal teams; following controls and service-level agreements; and identifying and escalating unusual or potentially suspicious transaction activity in accordance with company policy.
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 demeanor.
- 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 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.
- Assist in managing internal workflow to meet processing and client deadlines.
- Work with other service departments to resolve errors and issues or reconcile discrepancies.
- Establish and maintain good working relationships with internal clients and colleagues.
- Ensure processes comply with service-level agreements and escalate matters 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 policy and operating procedures.
- Ensure standard procedures and controls are followed.
- Initiate, propose, and implement improvements to enhance efficiency and accuracy.
- Liaise with investment managers, auditors, and banks.
- Pursue ongoing personal 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 family-care responsibilities.
- Employee Assistance Program.
- Eligibility for annual performance-based incentive awards, with certain sales-role exclusions.
- Eligibility for certain tax-advantaged savings plans.
- Flexible Work Program and work-life support.
- Development programs and educational support.
- Paid volunteer days.
- Matching gift program.
- Employee networks.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
