Alternative Ops Fund Accounting, Associate 2

State Street Corporation; Berwyn (PA); On-site; USD 42,000 - 67,000; Full time

Benefits offered by this job

Medical insurance

401K with company match

Paid time off

Job summary

State Street Corporation is seeking detail-oriented professionals to support fund accounting operations within the Alternatives group. You will perform daily processing, capital call calculations, and reconciliations while ensuring accuracy and timeliness for institutional investors.

You will collaborate with investment managers, auditors, and banks to maintain controls and drive efficiencies. A college degree in accounting/finance/economics and strong Excel skills are required.

Qualifications

• College diploma or university degree with concentration in Accounting, Finance or Economics.
• Proficiency in Microsoft Excel/Word; Bloomberg knowledge is a plus.
• Overtime may be required.

Responsibilities

• Complete the daily processing and monitoring of fund activities.
• Prepare capital call and distribution calculations; related notices to investors.
• Prepare/review periodic bank and cash reconciliations and post journal entries.
• Prepare quarterly management fee calculations and waterfall calculations.
• Prepare fund trial balances and supporting workpapers.
• Assist the quarter-end book closing process and meet client deadlines.
• Liaise with internal teams to resolve errors and reconcile discrepancies.

Skills

Excellent communication

Team player

Attention to detail

Analytical skills

Problem solving

Strong work ethic

Can-do attitude

Self-motivated

Education

College diploma or university degree (Accounting/Finance/Economics)

Tools

Microsoft Excel

Microsoft Word

Bloomberg

Job description

Who We Are Looking For

We are looking for bright, enthusiastic and hard‑working individuals with a keen interest in learning about and accounting for complex investment transactions and structures in a dynamic, challenging and fast‑paced work environment. Your success will be facilitated by the leading‑edge technology infrastructure supported by well‑developed procedures and controls. We offer you a challenging career in a rapidly expanding international company with a professional, yet casual, work environment.

Why this role is important to us

The team you will be joining is a part of our State Street Alternatives operation. We are a recognized industry‑leading provider of fund accounting, fund administration and risk services to alternative investment fund managers. These services are fully integrated to provide complete end‑to‑end solutions that span the front‑, middle‑ and back‑office requirements of institutional investors. Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

• Complete the daily processing and monitoring of fund activities
• Prepare capital call and distribution calculations; related notices to investors
• Prepare/Review periodic bank and cash reconciliations and post journal entries
• Prepare quarterly management fee calculations
• Preparation of waterfall calculations and capital account allocations
• Prepare fund trial balances and supporting workpapers
• Assist the quarter‑end book closing process
• Assist in managing internal workflow to ensure internal processing and client deadlines are met
• Work with other services departments to resolve errors/issues or to reconcile discrepancies
• Establish and maintain good working relationships with internal clients and colleague
• Ensure all processes are in line with the SLA and elevate, if necessary
• Participate in special client or internal projects as required
• Assist in new business setup and conversions
• During the course of normal day to day operation, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalated in accordance with corporate policy and guidelines detailed in relevant operating procedures
• Ensure standard procedures and controls are adhered to
• Initiate, propose and implement improvements to enhance efficiencies and accuracy when see fit
• Liaise with investment managers, auditors and banks
• Ongoing personal education and development by attendance of State Street training sessions

What we value

These skills will help you succeed in this role

• Excellent communication and interpersonal skills
• Team player and collaborative
• Strong attention to detail and accuracy and organized
• Strong analytical skills and proactive approach to problem solving
• Confident, decisive, and energetic
• Strong work ethic – flexible, adaptable and ability to work within deadlines
• Can‑do attitude with high energy
• Self‑motivated with a passion for learning and growth

Education & Preferred Qualifications

• Must have a College diploma or university degree with concentration in Accounting, Finance or Economics
• Working knowledge of Microsoft Excel/Word (knowledge of Bloomberg a plus)
• Overtime may be required

Benefits

• generous medical care, insurance and savings plans among other perks
• You’ll have access to flexible Work Program to help you match your needs
• And our wealth of development programs and educational support will help you reach your full potential
• paid volunteer days
• matching gift program
• access to employee networks that help you stay connected to what matters to you
• flexible work‑life support
• our retirement savings plan (401K) with company match
• insurance coverage including basic life, medical, dental, vision, long‑term disability and other optional additional coverages
• paid‑time off including vacation, sick leave, short‑term disability and family care responsibilities
• access to our Employee Assistance Program
• incentive compensation including eligibility for annual performance‑based awards (excluding certain sales roles subject to sales incentive plans)
• eligibility for certain tax‑advantaged savings plans

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment.

Our benefits packages are competitive and comprehensive. Details vary in locations, but you can expect generous medical care, insurance and savings plans among other perks.

You’ll have access to flexible Work Program to help you match your needs.

And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients.

We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality.

Another fundamental value at StateStreet is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

Salary Range: $41,600 - $66,560 Annual The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Employees are eligible to participate in State Street’s comprehensive benefits program, which includes: our retirement savings plan (401K) with company match; insurance coverage including basic life, medical, dental, vision, long‑term disability and other optional additional coverages; paid‑time off including vacation, sick leave, short‑term disability and family care responsibilities; access to our Employee Assistance Program; incentive compensation including eligibility for annual performance‑based awards (excluding certain sales roles subject to sales incentive plans); and, eligibility for certain tax‑advantaged savings plans.

For a full overview, visit https://hrportal.ehr.com/statestreet/Home.

About State Street Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability.

We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential.

As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work‑life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most.

Join us in shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers Read our CEO Statement

Job Application Disclosure: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability.

We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.

We are committed to fostering an environment where every employee feels valued and empowered to reach their full potential.

As an essential partner in our shared success, you’ll benefit from inclusive development opportunities, flexible work‑life support, paid volunteer days, and vibrant employee networks that keep you connected to what matters most.

Join us shaping the future.

As an Equal Opportunity Employer, we consider all qualified applicants for all positions without regard to race, creed, color, religion, national origin, ancestry, ethnicity, age, disability, genetic information, sex, sexual orientation, gender identity or expression, citizenship, marital status, domestic partnership or civil union status, familial status, military and veteran status, and other characteristics protected by applicable law.

Discover more information on jobs at StateStreet.com/careers Read our CEO Statement