Fund Accounting & Administration, Associate 2

State Street • Boston, MA

11d • $41,600 - $66,560

About The Position

Fund Accounting & Administration, Associate 2 engages with clients and State Street teams to resolve issues, answer inquiries, process comments, and prepare monthly NAVs while meeting client satisfaction requirements and service-level agreements. The role assists offshore teams in producing or reviewing monthly and quarterly client reporting in accordance with GAAP requirements.

The Associate resolves routine problems independently and escalates complex or unresolved matters when needed. The role includes reviewing completed work, maintaining documentation, researching exceptions, supporting process improvements, delivering services according to standard operating procedures, and serving as a day-to-day operational contact for clients. The Associate is also responsible for managing their development, completing required training, and identifying and reporting risk and compliance concerns.

State Street describes itself as a global custodian bank, asset manager, and asset intelligence company serving institutional clients. The company offers competitive benefits and development programs; details may vary by location. The stated annual salary range for the primary location is $41,600–$66,560.

Requirements

• Bachelor’s degree or equivalent work experience in a related field.
• 1–2 years of experience in alternative/fund accounting or related experience.
• Knowledge and proficiency with fund accounting.
• Strong critical thinking, problem-solving, and decision-making skills.
• Strong communication, interpersonal, and organizational skills, including time management and prioritization.
• Excellent computer knowledge and proficiency with Microsoft Office Suite, including Outlook, Excel, Word, and PowerPoint.
• Ability to work cooperatively with others to achieve team goals.

Responsibilities

• Engage with clients and State Street teams to resolve issues, answer inquiries, and process comments while preparing monthly NAVs and meeting service-level agreements.
• Assist offshore teams in producing or reviewing monthly and quarterly client reporting in accordance with GAAP requirements.
• Resolve routine problems using own initiative and escalate complex issues as needed.
• Conduct self-review of completed activities and review completed activities for Associate 1s.
• Maintain relevant documentation for assigned activities.
• Research and resolve exception items, escalating unresolved issues to management as needed.
• Proactively share ideas to support process improvement and changes to team processes.
• Deliver services in accordance with standard operating procedures and ensure assigned work meets internal standards.
• Serve as the primary operational day-to-day contact for clients as required.
• Manage personal development by engaging in the PPR process, seeking feedback, and attending mandated and relevant training.
• Identify and report risk and compliance issues, breaches, and suspicious activities.
• Act in accordance with Risk Excellence as part of the Way Ahead foundation.
• Perform other duties as required.

Benefits

• Competitive and comprehensive benefits packages, with details varying by location.
• Medical care, insurance, and savings plans.
• Flexible Work Programs.
• Development programs and educational support.
• Retirement savings plan (401K) with company match.
• Basic life, medical, dental, vision, long-term disability, and optional insurance coverage.
• 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 stated exclusions for certain sales roles.
• Eligibility for certain tax-advantaged savings plans.
• Paid volunteer days.
• Matching gift programs.
• Employee networks.
• Inclusive development opportunities and flexible work-life support.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level