Hedge Fund Accounting & Administration, Senior Associate
About the role
Who We Are Looking For We are looking for bright, enthusiastic and hard-working individuals with a keen interest in learning about and accounting for complex investment transactions and structures in a dynamic, challenging and fast-paced work environment. Your success will be facilitated by the leading-edge technology infrastructure supported by well-developed procedures and controls. We offer you a challenging career in a rapidly expanding international company with a professional, yet casual, work environment.
Why this role is important to us The team you will be joining is a part of our State Street Alternatives operation. We are a recognized industry-leading provider of fund accounting, fund administration and risk services to alternative investment fund managers. 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 financial services industry from day one is a challenge you are up for.
What You Will Be Responsible For As Hedge Fund Accounting Supervisor you will
- Assist and train team members to 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
What We Value These skills will help you succeed in this role
- Excellent communication and interpersonal skills
- Confident and decisive
- Ambitious and energetic
- Strong work ethic - flexible and adaptable
- Can-do attitude with high energy
- Self-motivated with a passion for learning and growth
Education & Preferred Qualifications
- 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
Job ID: R-777806
About State Street
At State Street, we partner with institutional investors all over the world to provide comprehensive financial services, including investment management, investment research and trading, and investment servicing. Whether you are an asset manager, asset owner, alternative asset manager, insurance company, pension fund or official institution, you can rely on us to be focused on your challenges. We are committed to doing what it takes to help you perform better — now and in the future.
Hedge Fund Accounting & Administration, Senior Associate
About the role
Who We Are Looking For We are looking for bright, enthusiastic and hard-working individuals with a keen interest in learning about and accounting for complex investment transactions and structures in a dynamic, challenging and fast-paced work environment. Your success will be facilitated by the leading-edge technology infrastructure supported by well-developed procedures and controls. We offer you a challenging career in a rapidly expanding international company with a professional, yet casual, work environment.
Why this role is important to us The team you will be joining is a part of our State Street Alternatives operation. We are a recognized industry-leading provider of fund accounting, fund administration and risk services to alternative investment fund managers. 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 financial services industry from day one is a challenge you are up for.
What You Will Be Responsible For As Hedge Fund Accounting Supervisor you will
- Assist and train team members to 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
What We Value These skills will help you succeed in this role
- Excellent communication and interpersonal skills
- Confident and decisive
- Ambitious and energetic
- Strong work ethic - flexible and adaptable
- Can-do attitude with high energy
- Self-motivated with a passion for learning and growth
Education & Preferred Qualifications
- 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
Job ID: R-777806
About State Street
At State Street, we partner with institutional investors all over the world to provide comprehensive financial services, including investment management, investment research and trading, and investment servicing. Whether you are an asset manager, asset owner, alternative asset manager, insurance company, pension fund or official institution, you can rely on us to be focused on your challenges. We are committed to doing what it takes to help you perform better — now and in the future.