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Real Asset Fund Accounting - Associate 2

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State Street

Nov 6, 2024

  • Job
    Full-time
    Junior Level
  • Accounting & Tax
    Banking & Finance
  • Hyderabad, +1
  • Quick Apply

AI generated summary

  • You need a Master's in Accounting/Finance, 2+ years in financial services, IFRS/USGAAP knowledge, Excel skills, and experience with private equity funds. Training skills are a plus.
  • You will maintain client books, post journal entries, prepare financial statements, reconcile cash, track assets, and assist in audits while reviewing various accounting schedules.

Requirements

  • Graduate / Master’s Degree in Accounting, Finance, any other professional accounting qualification (ie. CA, CWA, CA inter, CWA inter or equivalent)
  • 2+ years of experience in accounting for the financial services sector, particularly Private Equity, Asset Management or Fund Administration.
  • Knowledge of IFRS and / or USGAAP
  • Experienced in preparing general ledger and financial statements.
  • Good communication skills and proficiency in English (both verbal and written).
  • Knowledge in Microsoft Applications (Excel, Word, Powerpoint etc).
  • Working knowledge of Investran/Oracle will be an added advantage
  • Private equity/real estate fund experience. Exposure to complex fund structure, waterfall computation, preferred return.
  • Expect to have training skills to new joiners

Responsibilities

  • Maintain the client books and post journal entries, preparation and presentation of financial statements. Books require to maintain at asset, investment and portfolio level
  • Practical knowledge on journal entries and posting of journals
  • Preparation and review of profit and loss account, Balance Sheet and Cash flow statement
  • Preparation and review Cash book and reconcile the cash with bank on a daily basis
  • Knowledge on revenue recognition and accrual concept
  • Coordinate processing of payments and other transactions and it’s review
  • Review and update the detailed schedule of fixed assets and accumulated depreciation
  • Track property review accounting like, Net Assets, Operating income, Depreciation check and Rent calculation
  • Preparation and review of Deferred Revenue Cost schedule and accounting
  • Preparation and review of schedule of Equity capital, subscription and redemption
  • Responsible for maintaining books and records and calculation of fund Net Asset Values
  • Preparation and review of Distributions
  • Identifying the GAAP to NAV differences and provide explanation
  • Preparation of variance analysis and provide comments
  • Debt Valuation schedule preparation
  • Accounting of Re-valuation of assets and preparation of schedule
  • Maintenance of various entities books of accounts both Book side and Market side
  • Assist in audit queries
  • Preparation and review of Non-controlling interest schedule
  • Preparation and review of venture capital books and profit distribution
  • Any other functions required as part of the business of the Company

FAQs

What are the primary responsibilities of the Real Asset Fund Accounting - Associate 2 role?

The primary responsibilities include maintaining client books, posting journal entries, preparing financial statements, and ensuring accurate accounting at the asset, investment, and portfolio level.

What qualifications are necessary for this position?

A graduate or master’s degree in Accounting, Finance, or a professional accounting qualification (such as CA, CWA, CA inter, CWA inter) is required, along with 2+ years of experience in accounting for the financial services sector.

Is knowledge of IFRS and USGAAP required for this job?

Yes, knowledge of IFRS and/or USGAAP is a requirement for this position.

What experience is preferred for candidates applying to this role?

Candidates with experience in private equity, asset management, or fund administration, particularly with complex fund structures, waterfall computation, and preferred return, are preferred.

Are there specific financial statements the associate will be responsible for preparing?

Yes, the associate will be responsible for the preparation and review of profit and loss accounts, balance sheets, cash flow statements, and other related schedules.

What software skills are required for this position?

Proficiency in Microsoft applications (Excel, Word, PowerPoint) is required, and working knowledge of Investran/Oracle is an added advantage.

Will the associate be responsible for any audit-related tasks?

Yes, the associate will assist in audit queries as part of their responsibilities.

Are good communication skills important for this role?

Yes, good communication skills and proficiency in English (both verbal and written) are important for this role.

Is there an expectation for the associate to provide training to new joiners?

Yes, the associate is expected to have training skills to guide new joiners as part of their responsibilities.

What types of accounting activities will the associate need to perform related to fixed assets?

The associate will review and update the detailed schedule of fixed assets and accumulated depreciation, and track property review accounting.

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State Street

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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.