Alternative Ops Fund Accounting, Senior Associate

Who we are looking for

Hedge Fund Administration, Senior Associate interact with all levels of professionals both internally and externally. Therefore, exceptional interpersonal and communication skills are required. Candidates must demonstrate initiative, be able to perform well under pressure and simultaneously handle multiple assignments. Hedge Fund Senior Associates are responsible to direct the day-to-day accounting and administration for several client sponsored investment funds. 

Why this role is important to us

The team you will be joining Alternative Investment Solutions is a recognized industry-leading provider of fund accounting, fund administration and risk services to hedge funds and private equity funds. These services are fully integrated to provide complete end-to-end solutions that span the front-, middle- and back-office requirements of institutional investors.

What you will be responsible for

• Calculate and validate a daily and/or weekly and/or monthly Net Asset Value (NAV) for your assigned funds

• Assist and train others in your team with their NAV calculation and problem resolution

• Reconcile & review cash daily (no unresolved discrepancies)

• Reconcile/review portfolio positions daily (including equities, bonds, swaps, options, foreign exchange, futures and other evolving derivative instruments)

• Check if the accrual for income and expenses has been performed daily; validate PnL statement and position market values.

• Post/review accounting entries to the general ledger.

• Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations

• Review NAV packs and sign off to client/stakeholders.

• Manages the day-to-day activities and controls to ensure consistency of policies adherence to procedures.

• Manages and facilitates timely resolution of issues.

• Proposes and works to implement workflow changes and supporting technical solutions leading to improved productivity and profitability.

• Keeps abreast of regulatory compliance and developments for the assigned area and apprises staff as necessary.

• Identifies and analyzes operations risks related to current and potential business and recommends procedural changes and controls as needed



• Creates and uses quality service measurement tools to ensure compliance with operational standards with SLAs and SOPs and create management reporting as needed

• Coordinates and manages projects within the department and/or with BU Shared Services, COEs and Client Operations teams.

• During the course of normal day-to-day operation, responsible for identifying any unusual or potentially suspicious transaction activity and reporting and/or escalating in accordance with corporate policy and guidelines detailed in relevant operating procedures.

• Conducts periodic performance reviews; provides ongoing counsel, training, development and motivation of staff.

• Participates in the hiring, salary, promotional and termination recommendation process.

• Result-oriented with an ownership and accountability mindset

• Drive pay for performance and culture of performance differentiation

• Executive presence, managing with influence and effective communication across stakeholder groups both regionally and globally

• Embed risk excellence culture across the teams

What we value

Account for the day-to-day management of a functional/oversight team(s) and manage daily service delivery and production activities performed by staff. Work in conjunction with individuals on the team as well as other Shared Service teams/COE’s, outsource locations, Client Operations and other business units to ensure seamless processing according to the fund’s policies, to ensure NAV/yield accuracy and that all SLAs are met. As well as Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.

Education & Preferred Qualifications:

• Bachelor’s Degree in Commerce / Economics with a specialization in Business, Accounting, Finance or equivalent experience preferred

• Highly proficient with Microsoft Office Products (Excel, Word)

• Demonstrated managerial, leadership and decision-making abilities

• Excellent communication, organization, interpersonal planning, and analytical skills

• Ability to effectively bring individuals from multiple areas together to resolve identified issues.

• Should have exposure to trading instruments like Equities, Options, Bonds, Futures, Spots and Forwards, Bank Debts and Credit Default Swaps (CDS)

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  Get Hired

• Should have knowledge of Corporate Actions, Income & Expense accruals, SEC Yields, Distributions, NAV calculations etc.

• Should have prior Hedge Fund accounting experience including General Ledger analysis and reconciliation

Experience Requirements:

•Total experience should be 4+ years with minimum of 3years into fund accounting with supervisory capacity.

•Knowledge of securities language and legal requirements.

•Good interpersonal, organizational and management skills.

•Solid understanding of operational functions within Custody and/or Fund Accounting. Ability to provide technical expertise to resolve daily problems.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

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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