Investor Allocations Senior Associate

U.S. Bank • Hackensack, NJ

3d • 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 U.S. Bank’s Alternative Investment (AI) Services Allocations department is responsible for the accurate calculation of client fund and investor level NAV (net asset value) on a daily, monthly or quarterly basis. In this role, the Investor Allocations Team Member is responsible for maintaining the official books and records of the funds that we administer in accordance with their offering documents, including preparation of investor statements. This includes, but is not limited to, allocation of income/loss through various levels of the fund structure, the calculation of management, incentive or carried interest fees, and interpretation of legal documents which are then translated into Microsoft Excel formulas. Team members are also responsible for preparing capital calls, distribution, and rebalancing computations in addition to the notices that are sent to investors. The team works closely with our operations and investor relations teams to prepare the final allocations for the client as well as liaise with the fund’s auditors and financial reporting teams as applicable during the fund’s fiscal year-end. The allocations team works on multiple relationships, servicing and supporting both hedge funds and private equity fund types. Additionally, in this position you are expected to have a basic understanding of the overall direction of USBFS’ Alternative Investment (“AI”) business, core services of AI, and ancillary products and services provided to the AI client base. Professional communication and a motivated, self-starter attitude required for this position. This position uses Excel daily.

Requirements

• Bachelor’s degree in Accounting, Finance or a business-related field
• Five or more years of experience in alternative investments industry

Nice To Haves

• Capable of demonstrating detail-oriented acumen
• 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, especially Excel

Responsibilities

• Maintaining the official books and records of the funds that we administer in accordance with their offering documents, including preparation of investor statements.
• Allocation of income/loss through various levels of the fund structure
• Calculation of management, incentive or carried interest fees
• Interpretation of legal documents which are then translated into Microsoft Excel formulas
• Preparing capital calls, distribution, and rebalancing computations in addition to the notices that are sent to investors.
• Work closely with our operations and investor relations teams to prepare the final allocations for the client as well as liaise with the fund’s auditors and financial reporting teams as applicable during the fund’s fiscal year-end.
• Understanding the policies and procedures of the AI department
• Understanding the information flow through the various AI systems
• Knowledge of how to use various systems specific to the job function
• Ability to communicate information carefully in order to manage client relationships
• Active listening to obtain information and understand client needs
• Written correspondence that is clear, professional and grammatically correct

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
• Number of Employees: 5,001-10,000 employees