Fund Accounting & Operations Associate

U.S. Bank; Milwaukee, Northern (WI, KY); On-site; USD 67,000 - 78,000; Full time

Benefits offered by this job

Healthcare (medical, dental, vision)

401(k) retirement plan

Paid vacation

Up to 11 paid holidays

Adoption assistance

Sick and Safe Leave

Job summary

U.S. Bank in Milwaukee is seeking an Alternative Investments Associate and Accountant to support accounting, administration and investor servicing for hedge funds, private equity funds and similar products.

You will calculate NAVs and disseminate financial information to advisors and investors. The role requires a Bachelor's degree in Accounting/Finance, 2–5 years of related experience (portfolio/partnership accounting preferred), and strong Excel and communication 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.
• Strong accounting, reporting and analysis skills with attention to detail.

Responsibilities

• Act as primary fund accountant on multiple relationships, ensuring GAAP-compliant accounting and investor reporting.
• Record trade information, income/expense activity and apply valuation of securities in portfolio systems.
• Enter and reconcile investor contributions and withdrawals in the partnership accounting system.
• Allocate fund-level profits to individual investors for statements and distributions.
• Review and coordinate fund expense analysis and expense processing.
• Prepare fund financial statements, audit and tax schedules.

Skills

GAAP knowledge

Interpersonal communication

Microsoft Office

Education

Bachelor's degree in Accounting, Finance or 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 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.

Additional Job Description: This Associate will work collaboratively as part of a cross‑functional team responsible for internal reporting and operational support. They serve as a key liaison between Alternative Investments Operations and Billing department, ensuring accurate information flow, timely issue resolution, and alignment across departments. This role supports the effective management of alternative investment products by facilitating coordination, enhancing reporting processes, and maintaining strong internal controls.

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

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

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.

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. Learn more about the E-Verify program.

Pay Range: $66,640.00 - $78,400.00

Equal Opportunity Statement

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.

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.