Alternative Ops Fund Accounting Officer

Who we are looking for:

Reporting to an AVP, the Officer is responsible for delivering end-to-end fund administration services, overseeing several team members and ensuring team compliance with operating policies, procedures and guidelines in the timely completion of accurate Net Asset Valuations (NAV). They are also responsible for team development and/or staff management. In addition, the Officer will also be involved with and drive projects such as the provision of management reporting, BCP and Risk initiatives, as well as ad hoc project work with the objectives of enhancing client satisfaction or winning operational efficiencies.

Why this role is important to us:

The team you will be joining is part of Alternative Investment Solutions (AIS), a recognized industry leader in providing fund accounting, fund administration, and risk services to hedge funds, private markets, and other alternative investment vehicles. AIS delivers fully integrated solutions across the investment lifecycle, providing clients with comprehensive front-, middle-, and back-office support to meet the evolving needs 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 Hedge Fund Accounting Officer you will be responsible for

Net Asset Value Operations

·       Maintain primary portfolio and accounting records for a variety of onshore and offshore hedge fund partnerships and corporations, trading in all types of investment securities and products

·       Familiar with end-to-end NAV processes and in-depth business knowledge on Hedge products and systems

·       Calculate daily/weekly/monthly Net Asset Valuations for the purpose of reporting to investors and processing of investor subscription and withdrawal activity

·       Allocate gains and losses amongst investors and calculate and accrue management and performance fees payable to hedge fund managers

·       Prepare tax lot accounting reports and schedules and assist in preparation of annual financial statements

·       Prepare fund performance reports including annual summaries and weekly return estimates

·       Prepare ad hoc portfolio, performance and fee reports as requested by Home-sites

·       Maintain primary accounting records for hedge fund management companies

Communication and Stakeholder Contact

·       Provide support for and effectively communicate both homesite, local managers and teams

·       Manage relationships with internal clients (other State Street offices outsourcing to Hangzhou) at appropriate levels to ensure continued confidence in the Hangzhou office.  This might include late night and early morning conference calls across all time zones. 

·       Responsible for key operational metrics, SLAs, KPIs etc.

·       Become familiar with our global product offering

Training, People Development and Knowledge Management 

·       Develop and monitor individual development plans for key people in the team.

·       Address the queries from the team and provide guidance and support from technical perspective, responsible for SOP set-up and review

• Improve and build training mechanism for hedge new starters, knowledge management and experience sharing
• Support internal rotations and succession plans within the unit
• Lead improvement and transformation projects collaborating with home sites and Hangzhou Hedge Unit Head, serve on committees and task force assignments
• ·       Working with teams on productivity and efficiency improvement What we value:This role requires strong communication, people leadership, and client service skills, along with relevant industry experience. The ideal candidate demonstrates a growth mindset, embraces AI and digital tools to enhance ways of working, drive operational efficiency, and deliver better business outcomes. Education & Preferred Qualifications:
  • Bachelor’s degree in Accounting, Finance, Business Administration, or a related field. A Master’s degree and/or professional qualifications such as CPA, CFA, ACCA is a plus
• ·       At least 5 years working experience in accounting / financial services related environment.·       Hedge fund administration industry experience essential including familiarity with performance fee structures, hot issue allocations and management company record keeping·       Detailed understanding of how to account for, value and service all types of investment products including derivatives, swaps, options, futures and forwards·       Understand unit strategic/business plan; ability to support strategic direction for areas of responsibility and ensure goals/objectives are aligned with those of the business
  • Strong verbal and written English communication skills, with the ability to communicate effectively and build relationships with stakeholders at all levels of the organization and with clients
• ·       Demonstrates a strong commitment to organizational success; work to do what is best for the organization and its stakeholders (e.g., customers, shareholders and employees)·       Demonstrated ability to make and stand by difficult or unpopular decisions when they are in the best interests of the client or corporation·       Demonstrates an appreciation for people and perspectives that differ from own; ability to adapt style to match the needs of different individuals, teams and situations·       Good interpersonal skills and ability to interface with colleagues from all disciplines, backgrounds and cultures - both in the region and across the globe

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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