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Fund Accounting - Associate 2

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State Street

Sep 20, 2024

  • Job
    Full-time
    Junior Level
  • Hyderabad, +1
  • Quick Apply

AI generated summary

  • You need 2+ years in Fund Accounting, knowledge of securities, good interpersonal skills, an Accounting or related degree, and proficiency in Microsoft Office. Night shifts required.
  • You will calculate and validate NAV, reconcile cash and portfolio positions, accrue income/expenses, analyze P&L, post entries, and resolve discrepancies daily.

Requirements

  • Minimum of 2+ years of Fund Accounting experience
  • Knowledge of securities language and legal requirements
  • Good interpersonal and organizational skills
  • Some understanding of operational functions within Hedge / Mutual Fund Accounting
  • Novice to Competent with a Bachelor’s degree or equivalent work experience with a focus in Accounting, Economics, Finance, Technical or related field preferred
  • Proficient with Microsoft Office Products (Excel, Word)
  • Comfortable working in Night shifts
  • Excellent communication, organization, interpersonal planning, and analytical skills
  • Deadline and detail oriented

Responsibilities

  • Undertake the following, with a goal of 100% accuracy, timeliness and completeness:
  • Calculate and validate a daily and/or weekly and/or monthly Net Asset Value (NAV) for your assigned funds
  • Assist and train others in your team with their NAV calculation and problem resolution
  • Design and implement operational efficiencies
  • Reconcile cash daily (no unresolved discrepancies)
  • Reconcile portfolio positions daily (including equities, bonds, swaps, options, foreign exchange, futures and other evolving derivative instruments)
  • Accrue income and expenses daily
  • Analyze and validate traders' profit and loss statement daily
  • Analyze and validate position market values daily
  • Post accounting entries to the general ledger daily
  • Review and validate the partner/shareholder allocation calculations, including management and incentive fee calculations
  • Research and resolve differences between accounting and trade entry systems daily

FAQs

What is the required experience for the Fund Accounting - Associate 2 position?

A minimum of 2+ years of Fund Accounting experience is required.

What are the primary responsibilities of this role?

The primary responsibilities include calculating and validating daily and/or weekly and/or monthly Net Asset Value (NAV) for assigned funds, reconciling cash and portfolio positions daily, accruing income and expenses, analyzing profit and loss statements, and reviewing partner/shareholder allocation calculations.

What educational background is preferred for candidates applying for this position?

Candidates are preferred to have a Bachelor’s degree or equivalent work experience with a focus in Accounting, Economics, Finance, Technical, or a related field.

Is knowledge of securities language and legal requirements important for this role?

Yes, knowledge of securities language and legal requirements is important.

Are there any specific software skills required for this job?

Proficiency with Microsoft Office Products, particularly Excel and Word, is required.

Does this position require night shifts?

Yes, candidates must be comfortable working night shifts.

What skills are emphasized in the job description for the Fund Accounting - Associate 2 position?

Excellent communication, organization, interpersonal planning, analytical skills, and being deadline and detail-oriented are emphasized.

Is there any training involved for team members in this role?

Yes, the role involves assisting and training others in the team with their NAV calculation and problem resolution.

How does State Street Corporation support its employees?

The job description does not explicitly mention employee support, but State Street is known for offering a range of resources and programs for employee development and well-being.

What types of funds will the associate be working with?

The associate will be working with assigned funds, which may include hedge and mutual funds, given the operational functions mentioned.

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State Street

We’re at the heart of financial services. And our clients are at the heart of everything we do.

Finance
Industry
10,001+
Employees
1792
Founded Year

Mission & Purpose

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.