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Hedge Fund Accounting & Administration, Senior Associate

State Street

State Street

Accounting & Finance
New Jersey, USA · Princeton, NJ, USA · Austin, TX, USA · Austin, TX, USA · Texas, USA · Manchester, NH, USA · Manchester, UK · Chagrin Falls, OH, USA · Ohio, USA · New York, NY, USA · Clifton, NJ, USA · Clifton, VA, USA · Aliquippa, PA, USA · Aliquippa, PA, USA · Pennsylvania, USA · Atlanta, GA, USA · Atlanta, GA, USA · Georgia, USA · Kansas City, MO, USA · Kansas City, MO, USA · Missouri, USA · Montpelier, VT, USA · Montpelier, VT, USA · Vermont, USA · Charlotte, NC, USA · Charlotte, NC, USA · North Carolina, USA · Columbia, SC, USA · Colombia · South Carolina, USA · Sacramento, CA, USA · California, USA · Boston, MA, USA · Boston, MA, USA · Massachusetts, USA · Norwalk, CT, USA · Norwalk, CT, USA · Connecticut, USA · New Castle County, DE, USA · New Castle County, DE, USA · Delaware, USA · Jacksonville, FL, USA · Jacksonville, FL, USA · Florida, USA
Posted on Friday, September 15, 2023

Who we are looking for

Fund Administration, Senior Associates interact with all levels of professionals both internally and externally. Therefore, exceptional interpersonal and communication skills are required. Candidates must demonstrate initiative, be able to perform well under pressure and simultaneously handle multiple assignments. Fund Administration Senior Associates are responsible to direct the day-to-day accounting and administration for several client sponsored investment funds.

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 a Fund Administration, Senior Associate you will:

  • Validate and review all daily activity while maintaining all required controls

  • Calculate and process fund activities, e.g. support the production of NAV, SEC yields, distributions, corporate actions, etc. and prepare proofs as needed

  • Support the review and validation of data as needed, e.g. fund NAV, as well as distribute information to Shared Services and Client Operations teams

  • Research and resolve exceptions and issues

  • Receive and resolve inquiries in a timely and accurate manner and communicate effectively with client when necessary

  • Define and ensure successful completion of ad-hoc requests

  • Escalate unresolved issues to management as required

  • Reconcile and resolve discrepancies with other teams as needed

  • Ensure appropriate records of daily and monthly activities are kept

  • Perform daily or weekly reporting functions for the team’s activities

  • Ensure adherence to Standard Operating Procedures

  • Keep up to date on broader internal/external business issues; apply knowledge across team

  • Assist management in the implementation of new policies and procedures, participate in projects

  • Assist with workflow management and technology enhancements, make suggestions to streamline operations

  • Maintain knowledge of current alternative procedures and processes

  • Support training of new hires as necessary

  • During the course of normal day to day operations, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures

  • Perform duties of Associates and provide back-up management support if required

  • Perform other duties as assigned

What we value

These skills will help you succeed in this role

  • Exceptional interpersonal and communication skills are required.

  • Candidates must demonstrate initiative, be able to perform well under pressure and simultaneously handle multiple assignments.

Education & Preferred Qualifications

  • Bachelor’s degree in Accounting or Finance

  • Minimum 3 years of experience in the financial services industry within a hedge fund accounting role

  • Demonstrate an understanding of fund level profit & loss characteristics and its implications on investor allocations for various complex fund structures.

  • Proficiency in Microsoft Outlook & Excel in required

  • Strong interpersonal skills, highly effective communication and organization skills

  • Ability to thrive and function in a deadline driven environment

  • Ability to understand and troubleshoot complex fund accounting problems and use analytical skills to resolve issues in a timely manner

About State Street

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.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at

Salary Range:

$58,240 - $83,200 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.