Alternative Ops Fund Accounting

This job is with State Street, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Who we are looking for

Hedge Fund Accounting, Assistant Vice President will be responsible for NAV delivery, client service, and oversight of global hedge accounting team They will participate and/or lead various projects both client-facing and internal. Additionally, they will be involved in regulatory work, training, and annual audit. 

Why this role is important to us

The team you will be joining Alternative Investment Solutions is a recognized industry-leading provider of fund accounting, 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

•    Perform review for cash and portfolio positions daily (including equities, bonds, swaps, options, foreign exchange, futures and other evolving derivative instruments)

•    Research and resolve exceptions and issues

•    Check if the accrual for income and expenses has been performed daily; validate PnL statement and position market values.

•    Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations

•    Review NAV packs as First level reviewer/Second level reviewer and sign off to client/stakeholders.

•    Manage the day-to-day activities of a functional/oversight team by monitoring, reviewing and validating all daily activity to ensure accuracy and timeliness in calculations and processing, as well as adherence to controls.

•    Act as the primary contact and key escalation point for operational issues, as well as provide technical expertise to resolve daily problems. 

•    Manage and escalate issues related to BU Shared Services and COE's. Manage departments overtime budget effectively, indirectly responsible for other department budget matters. 

•    Ensure appropriate records of daily and monthly activities are kept. Assist with compliance/fiduciary reviews, controls, and audits as needed. 

•    Establish and maintain files, including highly confidential and sensitive information, which pertains to clients and division/corporate operations, as well as short/long-term strategies, budgets, etc. 

•    Assess impacts of regulatory changes. Identify and implement consistent operational best practices. Organize Shared Service internal meetings and compiles related documentation, assisting with the coordination and development of the agenda and may attend meetings to record notes and action items.

•    Coordinate the implementation of new funds, systems and processes as well as assists with client conversions and other client projects. 

•    Train, develop and motivate new staff, as well as complete performance appraisals. Provide staffing recommendations by interviewing new personnel and making effective hiring decisions. 

•    Serve on committees and help define and implement new company initiatives. 

•    Provide coaching and development opportunities to staff, participate in individual on-going training and development. Has accountability and responsibility for completing and delivering performance appraisal on time. 

•    Make effective recommendations to hire, discipline, control work and terminate employment. Make effective recommendations for promotions, salary increases and bonuses. 

•    During the course of normal day to day operations, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or 

•    Commercial acumen - Understanding of cost/budgets (Officer level), Lead/drive the same 

•    Taking accountability of end-to-end outcomes as an enterprise, collaborating across functions/business and locations 

What we value

Account for the day-to-day management of a functional/oversight team(s) and manage daily service delivery and production activities performed by staff. Work in conjunction with individuals on the team as well as other Shared Service teams/COE's, outsource locations, Client Operations and other business units to ensure seamless processing according to the fund's policies, to ensure NAV/yield accuracy and that all SLAs are met. As well as Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.

Education & Preferred Qualifications:

• Bachelor's Degree in Commerce / Economics with a specialization in Business,
• Accounting, Finance or equivalent experience preferred
• Highly proficient with Microsoft Office Products (Excel, Word)
• Demonstrated managerial, leadership and decision-making abilities
• Excellent communication, organization, interpersonal planning, and analytical skills
• Ability to effectively bring individuals from multiple areas together to resolve identified issues.
• Should have exposure to trading instruments like Equities, Options, Bonds, Futures, Spots and Forwards, Bank Debts and Credit Default Swaps (CDS)
• Should have knowledge of Corporate Actions, Income & Expense accruals, SEC Yields, Distributions, NAV calculations etc.
• Should have prior Fund accounting experience including General Ledger analysis and reconciliation.
• At least 5+ years of related Hedge Fund Accounting experience, part of which must have been in a management or supervisory capacity. (Overall experience of 12+ years.
• Knowledge of securities language and legal requirements.
• Good interpersonal, organizational and management skills.
• Solid understanding of operational functions within Hedge Fund Accounting.
• Ability to provide technical expertise to resolve daily problems.
• Demonstrated computer proficiency and working knowledge of various software applications.
• Ability to develop and enhance client relationships.

What we do.

State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow.

We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.