Alternative Ops Fund Accounting, Associate 2

State Street•Berwyn, PA

5d•$41,600 - $66,560

About The Position

State Street is seeking a bright, enthusiastic, and hardworking fund accounting professional with an interest in complex investment transactions and structures. The role is part of State Street Alternatives, which provides fund accounting, fund administration, and risk services to alternative investment fund managers through integrated solutions spanning front-, middle-, and back-office needs. The position offers work in a dynamic, challenging, and fast-paced environment supported by technology, procedures, and controls. The Associate 2 supports day-to-day fund activity processing and monitoring, investor calculations and communications, reconciliations, journal entries, fee and waterfall calculations, fund reporting, and quarter-end close activities. The role works with internal service departments, investment managers, auditors, and banks, and helps ensure client deadlines, service-level agreements, standard procedures, and controls are met. It also supports process improvements, new business setup, conversions, and special projects. Overtime may be required.

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, 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 ensure internal processing and client deadlines are met.
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 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.
Pursue ongoing personal education and development by attending State Street training sessions.

Benefits

Competitive and comprehensive benefits packages, which may vary by location.
Medical care and insurance coverage, including medical, dental, vision, basic life, and long-term disability coverage.
Retirement savings plan (401K) with company match.
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, with certain sales-role exceptions.
Eligibility for certain tax-advantaged savings plans.
Flexible Work Program and work-life support.
Development programs and educational support.
Paid volunteer days and a matching gift program.
Employee networks.