Alternative Ops Fund Accounting - Associate 2

About the Private Markets Fund of Funds Team

The Private Markets Fund of Funds (FoF) team supports the accounting and administration of investment structures that invest across underlying private market funds and, where applicable, co-investments. The team supports a broad range of private market strategies and structures, delivering accurate accounting records, Net Asset Value (NAV) production, investor reporting, and other client-specific deliverables. Responsibilities include, but are not limited to, the processing and reporting of capital calls, distributions, cash transactions, management fees, carried interest, expenses, reconciliations, and NAV-related activities. Team members work within established client requirements, operating procedures, and control frameworks to maintain complete and accurate accounting records and support timely reporting.

Who We Are Looking For

The Associate 2, Private Markets Fund of Funds Fund Accountant performs day-to-day accounting and administration activities for private equity FoF and related investment structures. The role processes fund- and investment-level transactions, performs reconciliations, supports NAV production and investor reporting, investigates routine exceptions, and contributes to the initial review of assigned work. The successful candidate will apply established procedures and controls, manage recurring deliverables with increasing independence, and escalate material issues appropriately while maintaining accuracy and quality.

Why This Role Is Important to Us

The team you will join is part of Alternative Investment Solutions (AIS), a recognized industry-leading provider of fund accounting, fund administration, and risk services to private equity, private credit, real estate, hedge fund, and other alternative investment clients. Our services are fully integrated to provide comprehensive end-to-end solutions across front-, middle-, and back-office operations.

Join us if you are ready to deepen your knowledge of alternative investments, take greater ownership of recurring fund accounting activities, and contribute to high-quality client service.

What You Will Be Responsible For

As an Associate 2, Private Markets FoF Fund Accountant, you will:

• Process day-to-day accounting activities, including capital calls, distributions, management fees, carried interest, income and expenses, cash payments etc. using appropriate supporting documentation, client instructions, and established operating procedures.
• Investigate reconciling items, accounting breaks, and exceptions; coordinate timely resolution and escalate material issues or risks to reviewers and managers.
• Assist with accurate and timely preparation or initial review of Net Asset Value (NAV) calculations and other client deliverables, including supporting schedules and reasonableness checks.
• Maintain complete and accurate accounting records, workpapers, and supporting documentation in accordance with client requirements, internal controls, and operating procedures.
• Perform assigned quality checks, identify recurring errors or process gaps, and raise observations to the appropriate reviewer or manager.
• Coordinate routine information requests with internal teams and service partners and follow through on outstanding items.
• Organize assigned priorities, monitor recurring deadlines, and communicate potential delays or dependencies promptly.
• Provide day-to-day guidance to less experienced team members on established procedures, where assigned, while escalating technical or judgmental matters.
• Complete required training within deadlines and apply the knowledge gained to assigned responsibilities.

What We Value

• Strong attention to detail and a consistent commitment to accuracy and quality.
• Analytical thinking and practical problem-solving skills.
• Ownership and accountability for assigned responsibilities and deliverables.
• Clear written and verbal communication and effective teamwork.
• Ability to follow established procedures, apply controls consistently, and recognize when escalation is required.
• Ability to manage multiple priorities and recurring deadlines with appropriate supervision.
• Willingness to build deeper knowledge of private market, alternative investment products and fund accounting.
• Openness to feedback. Commitment to continuous improvement, knowledge sharing, high-quality client service.

Key Skills

• Working knowledge of accounting principles, including debits and credits, journal entries, account balances, and financial statement concepts.
• Ability to process and reconcile cash, investment, partner capital, and commitment activity accurately.
• Ability to review source documentation, prepare clear workpapers, and perform basic reasonableness and completeness checks.
• Ability to investigate routine breaks and exceptions, document findings, and escalate unresolved or material matters.
• Proficiency in Microsoft Excel for organizing data, applying standard formulas, reconciling balances, and supporting analysis.
• Effective communication with reviewers, managers, internal teams, and service partners.
• Strong organization, follow-through, and time management in a deadline-driven environment.
• Ability to explain established processes to less-experienced colleagues when requested.

Education and Preferred Qualifications

• Bachelor's degree in accounting, finance, business, or a related field.
• A minimum of one year of experience in financial services, fund accounting, investment operations, or a related field is preferred.
• Experience or knowledge of private markets, fund-of-funds structures, alternative investments or Investment accounting concept is an advantage.
• Proficiency in Microsoft Office applications, particularly Excel.
• Effective written and verbal communication skills.
• Strong organizational skills, with the ability to manage multiple priorities and meet reporting deadlines.
• Demonstrated willingness to continue developing technical knowledge and assuming greater ownership of assigned deliverables.

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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