Fund Accounting Associate 2

State Street • Quincy, MA

3d

About The Position

The Fund Accounting Associate 2 will support State Street Alternatives by performing fund accounting and administration work for alternative investment fund managers. The role involves processing and monitoring fund activities, preparing calculations and reconciliations, maintaining accurate fund records, supporting quarter-end closing, and coordinating with internal teams and external parties to meet client deadlines and service requirements. The position operates in a dynamic, challenging, and fast-paced environment and offers opportunities for learning and development.

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.
• Collaborative team-player 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 and adaptability; ability to work within deadlines.
• Can-do attitude and high energy.
• Self-motivated, with 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 in accordance with corporate policy 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

• Competitive and comprehensive benefits packages, with details varying by location.
• Medical care and insurance coverage, including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
• Retirement savings plan (401K) with company match.
• Paid time off, including vacation and sick leave, short-term disability, and family-care responsibilities.
• Employee Assistance Program.
• Incentive compensation, including eligibility for annual performance-based awards, with certain sales-role 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree