Alternative Ops Fund Accounting Associate 2
State Street
Alternative Ops Fund Accounting Associate 2
State Street
Holds assets for institutions and runs index funds
Fund Accountant Associate 2 will be responsible for supporting a range of operational and fund accounting activities for the client portfolio. The role requires a strong understanding of investment lifecycle events, operational controls and supporting documentation. The successful candidate will independently manage assigned responsibilities, investigate exceptions and work closely with internal teams and external stakeholders to ensure timely and accurate service delivery.
The team you will be joining is part of Alternative Investment Solutions (AIS), a leading provider of fund accounting, fund administration and operational support services to alternative investment managers and institutional investors.
The team acts as a key coordination and control point across the alternative investment servicing lifecycle. The team connects client requirements with operational execution, helps ensure that investment, transaction, cash, valuation and reporting information is complete and accurate, and drives timely resolution of exceptions. The role is important in maintaining service quality, strengthening the control environment and supporting scalable, technology-enabled delivery across private equity, private credit, fund-of-funds and direct investment structures.
· Independently process investment lifecycle events, including capital calls, distributions, interest receipts, fee transactions, paydowns and other investment-related activities..
· Review and maintain supporting documentation received from agents, administrators and counterparties.
· Support cash processing and cash reconciliation activities by comparing transaction records against supporting documentation and internal systems.
· Assist in setup and maintenance of investment attributes and operational records within relevant platforms.
· Monitor and investigate basic exceptions, missing information and reconciliation breaks.
· Escalate issues and outstanding items promptly to senior team members.
· Support preparation of operational reports and client deliverables.
· Maintain accurate audit trails and document management records.
· Follow established procedures, risk controls and information-security requirements.
· Participate in process improvement initiatives and support testing activities when required.
This position provides an opportunity to gain exposure to a broad range of alternative investment products and operational activities, including private equity, private credit, fund-of-funds and other complex investment structures. The successful candidate will develop expertise in investment operations, cash management, documentation review and client servicing activities within a global operating environment.
We value:
The Associate 2 role is critical in ensuring the completeness, accuracy and timeliness of operational processing while supporting a strong control environment and high-quality client service. The role works closely with middle-office and transaction-processing teams, document management, reconciliation, valuation, financial reporting, audit, technology, product and project-management partners. Responsibilities may vary by client, investment type and target operating model.
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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Holds assets for institutions and runs index funds
State Street holds and services investments for pension funds, insurers, fund companies, and other large institutions, and it also runs index funds through State Street Investment Management. It launched the first US-listed exchange-traded fund, the SPDR S&P 500 ETF Trust, in 1993, and in 1924 it became custodian of the first US mutual fund. As a custody bank, it safekeeps clients' stocks and bonds, completes their trades, calculates what their funds are worth, and lends their securities to other investors. It earns fees on the assets it services and manages, plus income from currency trading and from interest on client cash. State Street traces its roots to a bank chartered in 1792 and is based in Boston, Massachusetts.
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