Alternative Ops Fund Accounting
State Street
Alternative Ops Fund Accounting
State Street
Holds assets for institutions and runs index funds
Who we are looking for
This supervisory position is within Hedge Fund Services business unit of the State Street
Alternative Investment Services Group.
The candidate will 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. The candidate 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 is a part of International Fund Services (IFS), acquired by State Street in July 2002. IFS, also known as 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.
Join us if making your mark in the alternative investment industry from day one is a challenge you are up for.
What you will be responsible for
As Client Services , AVP you will
Manage all aspects of fund administration, including the allocation of income to investors, determination of management and incentive fees in accordance with the waterfall provisions, and processing capital events such as capital calls and distributions.
Oversee the day to day accounting functions, including preparation and review of financial statements, partner capital statements, and Net Asset Valuation (NAV).
Review Limited Partnership Agreements (LPA) and offering memorandums and ensure compliance with operational and accounting procedures.
Coordination of annual audit and tax return preparation with external accounting firms.
Manage internal workflow to ensure internal processing and client deadlines are met.
Manage client expectations with both designated client contacts and fund investors.
Review and/or prepare of various client related correspondence.
Maintain working relationship with all client contacts, including investment professionals, investors, auditors, lawyers and banking personnel. Act as escalation point for all client queries.
Ensure adherence with internal policies and procedures and compliance with external governing regulations.
During the course of normal day to day operation, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures.
Lead and mentor a team of fund accountants. Manage team performance through regular and ongoing feedback, performance review, goal setting and development opportunities.
Foster collaboration across teams to ensure seamless execution of fund administration services.
Lead the onboarding of existing client funds and the launch of new funds.
Participate in special client or internal projects as required.
What we value
These skills will help you succeed in this role
Strong interpersonal skills, positive, can-do attitude, meticulous are essential. Strong computer skills are required, especially Microsoft Office, particularly MS Excel.
Education & Preferred Qualifications
Candidate must have a college degree (business, mathematics, finance or economics preferred, accounting concentration a plus) and at least 8-10 years of accounting experience, including 3 to 4 years of managerial experience is required. Specific experience in the hybrid private equity/private credit/ hedge industry is a must. Experience with Investran or Geneva favorable but not required. CPA/CFA is a plus.
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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Read our CEO Statement
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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