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Full-Time

Hedge Fund Accounting and Administration

Officer

Posted on 10/30/2024

State Street

State Street

10,001+ employees

Asset management and custody banking services

Fintech
Financial Services

Compensation Overview

$70k - $107.5kAnnually

Senior

Company Historically Provides H1B Sponsorship

Princeton, NJ, USA

Category
Financial Accounting
Financial Controller
Management Accounting
Accounting
Required Skills
Excel/Numbers/Sheets
Requirements
  • Bachelor’s degree in Accounting or Finance
  • Minimum 5 years of experience in the financial services industry preferably within a hedge fund accounting role or fund of funds, including 1-2 years of supervisory experience is required
  • Demonstrate an understanding of fund level profit & loss characteristics and its implications on investor allocations for various complex fund structures.
  • Proficiency in Microsoft Outlook & Excel is required
  • Strong interpersonal skills, highly effective communication and organization skills
  • Ability to thrive and function in a deadline driven environment
  • Ability to understand and troubleshoot complex fund accounting problems and use analytical skills to resolve issues in a timely manner
  • CPA qualification is favorable but not required
  • Geneva experience preferred
Responsibilities
  • Supervision of all subordinate staff levels including Associate 1, Associate 2 and Senior Associates.
  • Manage the day to day delivery of accounting and administrative services for one or more client relationships by liaising with different functional teams spread across multiple global service locations.
  • Supervise and review the portfolio and hedge fund level accounting for numerous funds. Asset classes can include; equities, fixed income, derivatives, and private investments.
  • Review limited partnership agreements and offering memorandums and ensure compliance with operational and accounting procedures.
  • Manage the planning, preparation, and execution of weekly and/or monthly net asset value reporting cycle in accordance with US GAAP.
  • Ensure all client queries and requests are attended to in a timely matter and delegated or escalated appropriately.
  • Demonstrate an unrelenting commitment to client satisfaction.
  • Support the onboarding of existing client funds and the launch of new funds.
  • Ensure adherence with internal policies and procedures and compliance with external governing regulations.
  • Coordinate all external audit requests, and requirements from financial reporting, tax, compliance, risk and regulatory reporting as required.
  • Involved in all areas of talent management including; hiring, training, supervision, and delivery of performance reviews.
  • Meet all requirements for the performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
  • Contribute to working groups within the organization to improve our processes.
  • Participate in special client or internal projects as required.

State Street Corporation provides asset management and custody banking services to institutional investors, including mutual funds and pension funds. Its division, State Street Global Advisors, manages investment portfolios and offers advisory services tailored to clients' financial goals. The company distinguishes itself through its commitment to innovation and promoting diversity and inclusion within its workforce. State Street aims to deliver high-quality financial services while fostering a supportive and inclusive culture.

Company Stage

IPO

Total Funding

N/A

Headquarters

Boston, Massachusetts

Founded

N/A

Growth & Insights
Headcount

6 month growth

-8%

1 year growth

-8%

2 year growth

-8%
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Simplify's Take

What believers are saying

  • State Street's strategic acquisitions, such as stakes in BWP Trust and Australian Clinical Labs, indicate robust growth and expansion opportunities.
  • The company's exploration of blockchain-based payment solutions, including stablecoin and token launches, positions it at the forefront of financial technology innovation.
  • State Street's strong leadership team, with recent high-profile appointments, underscores its commitment to maintaining a competitive edge in the industry.

What critics are saying

  • The competitive nature of the financial services industry requires State Street to continuously innovate to maintain its market position.
  • Regulatory challenges and compliance issues, especially with new ventures like stablecoin and token launches, could pose significant risks.

What makes State Street unique

  • State Street's focus on institutional investors, including mutual funds and pension funds, sets it apart from competitors who may target a broader audience.
  • The company's commitment to innovation, such as exploring stablecoin and token launches, demonstrates its forward-thinking approach in the financial services industry.
  • State Street's emphasis on diversity and inclusion, highlighted by initiatives like WomenInFinance, distinguishes it as a leader in fostering a supportive and inclusive workplace.

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