Full-Time

Fund Accounting & Administration – Senior Associate

Posted on 1/10/2025

State Street

State Street

10,001+ employees

Asset management and custody banking services

Fintech
Financial Services

Mid, Senior

Company Historically Provides H1B Sponsorship

Montreal, QC, Canada + 1 more

More locations: Toronto, ON, Canada

Category
Financial Accounting
Management Accounting
Accounting
Requirements
  • Must have a minimum of 2 years of experience at the management level in a hedge fund administration environment
  • Must have a minimum of 3 years experience in a hedge fund administration environment or other related financial services experience.
  • Bachelors degree in Accounting, Finance or other business related area
  • Accounting experience a plus
  • Demonstrated ability to supervise a team
Responsibilities
  • Calculate and validate a weekly and/or monthly Net Asset Value (NAV) for their assigned funds
  • Review cash reconciliations daily (no unresolved discrepancies)
  • Review portfolio position reconciliations daily (including equities, bonds, swaps, options, fund of funds, foreign exchange, futures and other evolving derivative instruments)
  • Analyze and validate traders' profit and loss statement daily
  • Review and ensure all positions are priced correctly daily
  • Review of accounting transactions for accuracy
  • Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations
  • Ensure all daily client reporting deadlines are met by your team
  • Ensure weekly / monthly end Dealing Date NAV deadlines are achieved by your team
  • Review of the weekly / month end NAV pack before presentation to NAV Officer / Manager
  • Lead/assist with financial statement preparation (monthly and annually)
  • Lead/assist with working paper preparation and enquiries related to the annual audit
  • Lead/assist with periodic financial reporting for Hedge Funds (i.e. Statement of Assets and Liabilities and Statement of Profit and Loss)
  • Review and understand the fund's offering memorandum and verify that the offering memorandum agrees to fund set up and ensure that ongoing operations adhere to offering memorandum details
  • Ensure appropriate allocation and sharing of work within team
  • Develop communication within the team on a day to day basis

State Street Corporation operates in the financial services industry, focusing on asset management and custody banking. It provides a variety of services to institutional investors, such as mutual funds and pension funds, through its division, State Street Global Advisors, which manages investment portfolios and offers advisory services. The company serves a wide range of clients, including corporations, governments, and non-profit organizations, by leveraging its global expertise to deliver customized financial solutions. State Street generates revenue through management fees for overseeing client assets, transaction fees from trading, and service fees for custody and administration. Unlike many competitors, State Street emphasizes innovation and leadership, actively promoting gender diversity and inclusion within its workforce. The company's goal is to create a supportive environment that fosters leadership and emotional authenticity, enabling all employees to succeed.

Company Stage

IPO

Total Funding

N/A

Headquarters

Boston, Massachusetts

Founded

1792

Simplify Jobs

Simplify's Take

What believers are saying

  • Growing demand for ESG investing aligns with State Street's diversity and inclusion focus.
  • Digital assets and cryptocurrencies present new growth opportunities for custody services.
  • The rise of passive investing and ETFs expands market share for State Street Global Advisors.

What critics are saying

  • Investments in volatile sectors like biotechnology may increase financial risk exposure.
  • Expansion in Asia-Pacific could pose operational and regulatory challenges for State Street.
  • Overexposure to the mining sector may lead to risks from commodity price fluctuations.

What makes State Street unique

  • State Street excels in asset management and custody banking for institutional investors.
  • The company is committed to innovation and inclusive leadership in financial services.
  • State Street Global Advisors offers tailored investment strategies for diverse client needs.

Help us improve and share your feedback! Did you find this helpful?

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Flexible Work Hours

Remote Work Options

Professional Development Budget

Tuition Reimbursement

Paid Holidays

Employee Referral Bonus