Alternative Investment Associate

Us Bank; Edison (NJ); Hybrid; USD 76,000 - 89,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) retirement plan

Paid vacation (varies by tenure)

Holiday opportunities

Adoption assistance

Sick and Safe Leave

Job summary

U.S. Bank is seeking a qualified professional to join the Alternative Investments team as an Associate Accountant who will handle fund accounting for hedge funds and private equity funds, calculating NAVs and producing investor statements following GAAP.

You will record trades, reconcile contributions, allocate profits, and prepare financial statements. The role requires a Bachelor's degree in Accounting/Finance, 2–5 years of related experience, and strong Excel/Office skills.

Qualifications

• Bachelor's degree in Accounting, Finance or a business-related field or equivalent work experience
• Two to five years of related experience, preferably in portfolio/partnership accounting
• 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

• Provide accounting, administration and investor servicing for hedge funds, private equity funds and closed-end registered products.
• Calculate nets asset value and disseminate financial and performance information to investment advisor and investors.
• Record trade information, income/expense activity and apply valuation of securities in portfolio accounting system.
• Enter and reconcile investor contributions and withdrawals.
• Allocate fund level profits to investors for statements.
• Prepare fund financial statements, audit and tax schedules.

Skills

Thorough knowledge in accounting, 1, 3

Education

Bachelor's degree in Accounting, Finance or a business-related field

Tools

Microsoft Office

Job description

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 Associates and Accountants work as part of a team responsible for providing accounting, administration and investor servicing for hedge funds, 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). Records trade information, income/expense activity and applies valuation of securities in the portfolio accounting system. Enters and reconciles all investor contributions and withdrawals in the partnership accounting system. Allocates fund level profits to individual investors for preparation and distribution of investor statements. Reviews and coordinates fund expense analysis and expense processing. Prepares fund financial statements, audit and tax schedules.

Basic Qualifications:

• Bachelor's degree in Accounting, Finance or a business‑related field, or equivalent work experience

• Two to five years of related experience, preferably in portfolio/partnership accounting

Preferred Skills/Experience:

• 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

The role offers a hybrid/flexible schedule, which means there's an in‑office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• 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

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $75,905.00 - $89,300.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.