Alternative Ops Fund Accounting, Associate 2

State Street•Berwyn, PA

About The Position

The Alternative Ops Fund Accounting Associate 2 joins 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 end-to-end services across institutional investors’ front-, middle-, and back-office requirements in a dynamic, fast-paced environment supported by established procedures, controls, and technology. The position handles daily fund activity processing and monitoring, calculations and reconciliations, journal entries, fund reporting, and quarter-end close support. It also involves coordinating with internal service departments and external investment managers, auditors, and banks; meeting client and internal deadlines; following service-level agreements and corporate controls; identifying and escalating unusual or potentially suspicious activity; and contributing to process improvements, projects, new-business setup, and conversions. State Street describes its work environment as professional yet casual and offers development and educational support, flexible work-life support, and comprehensive benefits. The stated annual salary range is $41,600–$66,560 for the primary location; the applicable range may vary for other locations.

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 approach.
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 so that internal processing and client deadlines are met.
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 the service-level agreement 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 policy and relevant 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.
Continue 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 coverage.
Paid time off, including vacation and sick leave, short-term disability, and family-care responsibilities.
Access to an Employee Assistance Program.
Eligibility for annual performance-based incentive awards, subject to stated exclusions.
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.