Alternative Investments Middle Office – Senior Operations Associate

U.S. Bank; Hackensack (NJ); Hybrid; USD 105,000 - 123,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) and employer-funded retirement

Paid vacation and holidays

Parental leave

Job summary

U.S. Bank is seeking a Senior Operations Associate in its Alternative Investments Middle Office to provide middle and back-office support for hedge funds and asset management clients.

Role focuses on trade capture, confirmations, settlements, reconciliations, and client portfolio knowledge, with location expectations requiring three or more days on-site per week. Strong analytical and communication skills are required.

Qualifications

• Bachelor's degree in Business Administration or related field or equivalent work experience.
• Minimum five years in alternative investments middle office and/or operations in financial services.
• Knowledge of securities settlements, reconciliation, and client portfolio workflows.

Responsibilities

• Capture trades into the portfolio accounting system.
• Confirm trades with brokers, custodians, prime brokers and counterparties.
• Ensure accurate and timely trade settlements.
• Reconcile trades, positions and cash with external parties.
• Resolve trade breaks and monitor client portfolios for margin calls.
• Process corporate actions with entitlement focus.

Skills

Securities Settlements

Derivatives lifecycle

Prime Broker portals

Reconciliation

Communication skills

Education

Bachelor's degree in Business Administration or 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.

The Alternative Investment practice of U.S. Bancorp Global Fund Services, LLC (GFS) provides value-added services to our robust and rapidly growing client base, which includes hedge funds, private equity funds, and other investment companies. The Alternative Investments Middle Office – Senior Operations Associate works as part of a team responsible for providing middle and back-office services to investment companies and their advisors. In today’s complex and dynamic environment, our clients demand to be served by professionals who understand their products, strategies and industry. We work with clients to provide them with the expertise, tools, and information that they need to focus on growing their investments while we work with their custodians, prime brokers and trading counterparties to ensure their assets are settled and reconciled. The Senior Operations Associate provides middle and back-office support to hedge funds and asset management firms. This is not a front office/trading position. This is a challenging position that provides excellent career opportunities within a growing business line.

Key responsibilities

• Trade capture into portfolio accounting system
• Confirmation of trades with third parties (executing brokers, custodians, prime brokers, Repo/TBA/ISDA counterparties)
• Ensuring accurate and timely trade settlements
• Reconciliation of trades, investment positions and cash balances to external third parties (banks, prime brokers, counterparties)
• Resolution of trade breaks
• Knowledge of client portfolios related to daily margin calls
• Facilitate payments related to client trade settlements, margin and all deal fundings
• Corporate actions monitoring and processing with emphasis on P&I entitlements

Location Expectations The role requires working from a U.S. Bank location three (3) or more days per week.

Basic Qualifications

• Bachelor's degree in Business Administration or related field, or equivalent work experience
• Five or more years of related experience in alternative investments middle office and/or operations industry in financial services

Preferred Skills/Experience

• Knowledge of Securities Settlements (heavy Fixed Income, Equities, Derivatives)
• Experience with cleared and bi-lateral derivates life cycle and confirmation processes
• Knowledge of Prime Broker/Custodian portals
• Knowledge in reconciliation, 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

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
• Review our full benefits available by employment status here.

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.

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.

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.

Pay Range: $104,550.00 - $123,000.00

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.

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.