Fund Accountant - Associate 2

State Street; Clifton (NJ); On-site; USD 42,000 - 67,000; Full time

Job summary

State Street is seeking an Associate 2 to join the Private Equity Fund Services team. You will manage portfolio investment and NAV data, coordinating with trade operations, investor services, custody, tax, and financial reporting to deliver comprehensive fund services for closed-end funds and diverse portfolio investments.

You will interact with external clients and internal teams globally, ensuring accurate NAVs and timely reporting.

Qualifications

• Accounting or Finance background required or very relevant experience.
• Strong problem solving and analytical skills are essential.
• Advanced MS Excel skills are required.
• Experience with investment/portfolio accounting platforms is a plus.
• Detail‑oriented, responsible, and collaborative mindset are needed.

Responsibilities

• Oversee ledger bookings related to net asset valuations and support workbooks.
• Review allocations and NAV pricing for fund structures.
• Investigate cash flow discrepancies for quarterly capital statements.
• Identify pricing discrepancies and resolve client inquiries.
• Coordinate with middle office and fund accounting teams to deliver NAVs.

Skills

MS Excel

Problem solving

Attention to detail

Teamwork

Portfolio accounting

Education

Accounting or Finance background

Professional designation or advanced certifications

Tools

Investment accounting platforms

MS Excel (advanced)

Job description

Who We Are Looking For

As a Associate 2 you will be part of a team responsible for the portfolio investment and net asset value data for a complex Private Equity/Credit Fund, delivering customized service solutions for investment funds that have closed end structures and a variety of portfolio investments. This role is the hub in the delivery of administrative services, with Team members interacting daily with trade operations, investor services, custody, tax, financial reporting teams and directly with the client, functioning locally and in globally diverse locations. Join us if you are up to the challenge of administrating a mega fund and are looking to grow with a strong team.

Who We Are Looking For

As a Associate 2 you will be part of a team responsible for the portfolio investment and net asset value data for a complex Private Equity/Credit Fund, delivering customized service solutions for investment funds that have closed end structures and a variety of portfolio investments. This role is the hub in the delivery of administrative services, with Team members interacting daily with trade operations, investor services, custody, tax, financial reporting teams and directly with the client, functioning locally and in globally diverse locations. Join us if you are up to the challenge of administrating a mega fund and are looking to grow with a strong team.

Why this role is important to us

This Associate 2 position is within the Private Equity Fund Services Business Unit of the State Street Alternative Investment Services (AIS) group, a recognized industry-leading provider of fund accounting, fund administration and risk services to hedge funds and private equity/credit funds. The position will interact directly with external clients, as well as State Street onshore and offshore teams, providing complete end-to-end solutions for a major Private Equity/Credit Investment Fund.

Responsibilities

• Oversee ledger bookings related to net asset valuations including supporting workbooks for the shared blockers or wholly owned blockers.
• Reviewing allocations and current NAV pricing for fund-of-funds and direct investment private equity positions.
• Investigate and analyze cash flow discrepancies to quarterly capital account statements for private equity fund of funds.
• Identify pricing discrepancies and work with the client to resolve P&L inquiries.
• Liaise with middle office and fund accounting teams to support timely delivery of fund NAVs.
• Compilation, maintenance & reconciliation of fund and investor static data.
• Maintaining electronic and hard copy client files on a daily basis and archiving as necessary.
• Preparation of various client related correspondence including valuation documentation for audit purposes.
• Review Junior Associate and offshore teams’ work.
• Participation in special client or internal projects as required.

Education & Preferred Qualifications

• Accounting or Finance background and/or specific experience in the Private Equity industry required.
• Strong problem solving and analytical skills.
• Advanced MS Excel skills.
• Experience with investment/Portfolio accounting platforms a plus.
• Detail-oriented, owner’s mindset, logical thinking, strong learning ability, sense of responsibility and teamwork are required.
• Professional designation or advanced certifications are a plus.

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.

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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.

Job ID: R-780928