Fund Accounting Senior Associate

U.S. Bank • Hackensack, NJ

2d • Hybrid

About The Position

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Job Description Alternative Investments Senior Associates work as part of a team responsible for providing accounting, administration and investor servicing for private equity funds and closed-end registered products. Individuals calculate net asset value(s) and disseminate financial and performance information to the investment advisor and their investors. Acting as primary fund accountant on multiple relationships, ensures all fund accounting functions are in completed in accordance with Generally Accepted Accounting Principles (GAAP). Enters and reconciles all investor contributions and withdrawals in the partnership accounting system. Prepare or review work-papers, prepare call and distribution letters, calculate carried interest, and allocate profits and losses in accordance with Fund Governing Agreement. Prepare management fee calculations and supporting schedules. Prepare work paper files for accuracy and completeness, including capital activity, income and expense accruals and investment activity.

Requirements

• Bachelor's degree in Accounting, Finance or a business-related field, or equivalent work experience
• Five or more years of related experience, preferably in portfolio/partnership accounting, finance or portfolio management

Nice To Haves

• Thorough knowledge in accounting, reporting, and analysis
• Ability to identify and resolve/escalate complex problems with minimal guidance
• Ability to manage multiple tasks/projects and deadlines simultaneously
• Effective interpersonal, verbal and written communication skills
• Proficient computer navigation skills using a variety of software packages including Microsoft Office applications

Responsibilities

• Calculate net asset value(s) and disseminate financial and performance information to the investment advisor and their investors.
• Act as primary fund accountant on multiple relationships, ensures all fund accounting functions are in completed in accordance with Generally Accepted Accounting Principles (GAAP).
• Enters and reconciles all investor contributions and withdrawals in the partnership accounting system.
• Prepare or review work-papers, prepare call and distribution letters, calculate carried interest, and allocate profits and losses in accordance with Fund Governing Agreement.
• Prepare management fee calculations and supporting schedules.
• Prepare work paper files for accuracy and completeness, including capital activity, income and expense accruals and investment activity.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

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