State Street
Finance / FinServ
AlternativeOpsFundAccounting,Manager
Neural analysis suggests this role is
optimal for Senior candidates.
“Alternative Ops Fund Accounting, Manager at State Street. Skills: Fund accounting, NAV calculation, Reconciliation, Client interaction, Team management. 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”
What You'll Achieve.
Ensure consistency of policies adherence to procedures; Ensure NAV/yield accuracy; Ensure that all SLAs are met; Improved productivity and profitability; Compliance with operational standards with SLAs and SOPs; Drive pay for performance; Culture of performance differentiation
Industry & Context.
Problem resolution; Identifies and analyzes operations risks related to current and potential business and recommends procedural changes and controls as needed; Ability to provide technical expertise to resolve daily problems
What They're Looking For.
Must Have
10 + years with minimum of 5 years into fund accounting with supervisory capacity, Knowledge of securities language and legal requirements, Solid understanding of operational functions within Custody and/or Fund Accounting, Ability to provide technical expertise to resolve daily problems
Nice to Have
Bachelor’s Degree in Commerce / Economics with a specialization in Business, Accounting, Finance or equivalent experience
What You'll Do.
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
Reconcile/review portfolio positions daily
Check if the accrual for income and expenses has been performed
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 profitability
Keeps abreast of regulatory compliance and developments for the assigned area and apprises staff as necessary
Identifies and analyzes operations risks related to current and potential business and recommends procedural changes and controls as needed
Creates and uses quality service measurement tools to ensure compliance with operational standards with SLAs and SOPs and create management reporting as needed
Coordinates and manages projects within the department and/or with BU Shared Services
COEs and Client Operations teams
During the course of normal day-to-day operation
responsible for identifying any unusual or potentially suspicious transaction activity and reporting and/or escalating in accordance with corporate policy and guidelines detailed in relevant operating procedures
Conducts periodic performance
Provides ongoing counsel
development and motivation of staff
Participates in the hiring
promotional and termination recommendation process
How You'll Work.
Team & Collaboration
Interact with all levels of professionals both internally and externally; Work in conjunction with individuals on the team as well as other Shared Service teams/COE’s, outsource locations, Client Operations and other business units to ensure seamless processing; Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.; Ability to effectively bring individuals from multiple areas together to resolve identified issues
Communication Scope
Exceptional interpersonal and communication skills; Executive presence, managing with influence and effective communication across stakeholder groups both regionally and globally
Process & Methodology
Coordinates and manages projects within the department and/or with BU Shared Services, COEs and Client Operations teams
Full Job Description
**Who we are looking for** Hedge Fund Administration Managers, officers interact with all levels of professionals both internally and externally. Therefore, exceptional interpersonal and communication skills are required. Candidates must demonstrate initiative, be able to perform well under pressure and simultaneously handle multiple assignments. Hedge Fund Managers 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 profi
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