State Street
Financial Services
AlternativeOperationsFundAccounting,Associate2
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optimal for Associate candidates.
“Alternative Operations Fund Accounting, Associate 2 at State Street. Skills: Fund accounting, NAV calculation, Hedge fund administration. Calculate and validate Net Asset Value (NAV). Assist and train team members”
What You'll Achieve.
Ensure consistency of policies adherence; Ensure NAV/yield accuracy; Ensure all SLAs are met
Industry & Context.
Problem resolution; Issue resolution; Risk analysis; Analytical skills
What They're Looking For.
Must Have
6+ years total experience, 5+ years fund accounting experience, Supervisory capacity experience, Knowledge of securities language, Knowledge of legal requirements, Solid understanding of operational functions, Ability to provide technical expertise
Nice to Have
Bachelor's Degree in Commerce / Economics, Specialization in Business, Accounting, or Finance, Equivalent experience preferred, Hedge Fund accounting experience, General Ledger analysis experience, Reconciliation experience
What You'll Do.
Calculate and validate Net Asset Value (NAV)
Assist and train team members
Reconcile and review cash daily
Reconcile/review portfolio positions daily
Check accrual for income and expenses
Validate PnL statement
Validate position market values
Post/review accounting entries
Review and validate allocation calculations
Sign off NAV packs to client/stakeholders
Manage day-to-day activities and controls
Ensure consistency of policies adherence
Facilitate timely resolution of issues
Propose and implement workflow changes
Implement supporting technical solutions
Keep abreast of regulatory compliance
Apprise staff of regulatory developments
Identify and analyze operations risks
Recommend procedural changes
Create quality service measurement tools
Ensure compliance with operational standards
Ensure compliance with SLAs
Ensure compliance with SOPs
Create management reporting
Coordinate and manage projects
Identify unusual transaction activity
Report suspicious transaction activity
Escalate suspicious transaction activity
Conduct periodic performance reviews
Provide ongoing counsel to staff
Provide staff training
Provide staff development
Provide staff motivation
Participate in hiring process
Participate in salary process
Participate in promotional process
Participate in termination process
Account for day-to-day management of team(s)
Manage daily service delivery
Manage production activities
Ensure seamless processing
Ensure NAV/yield accuracy
Ensure all SLAs are met
Work collaboratively with teams and management
Oversight of projects
How You'll Work.
Team & Collaboration
Internal professionals; External professionals; Team members; Shared Service teams; COE's; Outsource locations; Client Operations teams; Business units; Management across organization
Communication Scope
Interpersonal skills; Communication skills; Executive presence; Managing with influence; Effective communication
Process & Methodology
Project management
Full Job Description
**Who we are looking for** Hedge Fund Administration, Associate 2 interact with all levels of professionals both internally and externally. Therefore, exceptional interpersonal and communication skills are requiring Candidates must demonstrate initiative, be able to perform well under pressure and simultaneously handle multiple assignments. Hedge Fund Senior Associates are responsible to direct the day-to-day accounting and administration for several client sponsored investment funds. **Why this role is important to us** The team you will be joining Alternative Investment Solutions is a recognized industry-leading provider of fund accounting, fund administration and risk services to hedge funds and private equity funds. These services are fully integrated to provide complete end-to-end solutions that span the front-, middle- and back-office requirements of institutional investors. **What you will be responsible for** * **** Calculate and validate a daily and/or weekly and/or monthly Net Asset Value (NAV) for your assigned funds * Assist and train others in your team with their NAV calculation and problem resolution * Reconcile & review cash daily (no unresolved discrepancies) * Reconcile/review portfolio positions daily (including equities, bonds, swaps, options, foreign exchange, futures and other evolving derivative instruments) * Check if the accrual for income and expenses has been performed daily; validate PnL statement and position market values. * Post/review accounting entries to the general ledger. * Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations * Review NAV packs and sign off to client/stakeholders. * Manages the day-to-day activities and controls to ensure consistency of policies adherence to procedures. * Manages and facilitates timely resolution of issues. * Proposes and works to implement workflow changes and supporting technical solutions leading to improved productivity and pr
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