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Fund Accounting - Associate 2

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State Street

Nov 7, 2024

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

AI generated summary

  • You need 2+ years in Fund Accounting, knowledge of securities and legal standards, organizational skills, a related degree, proficiency in Excel, and the ability to work night shifts.
  • You will calculate and validate NAV, reconcile cash and portfolio positions, accrue income and expenses, analyze profit and loss, 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 primary responsibility of the Fund Accounting - Associate 2 position?

The primary responsibility is to calculate and validate the Net Asset Value (NAV) for assigned funds with a goal of 100% accuracy, timeliness, and completeness.

What qualifications are required for this position?

A minimum of 2 years of Fund Accounting experience is required, along with a Bachelor's degree or equivalent work experience in Accounting, Economics, Finance, or a related field.

What skills are essential for the Fund Accounting - Associate 2 role?

Essential skills include a good understanding of securities language and legal requirements, excellent communication skills, strong analytical skills, and proficiency with Microsoft Office Products, particularly Excel.

Is previous experience in hedge or mutual fund accounting necessary?

While not mandatory, some understanding of operational functions within Hedge or Mutual Fund Accounting is preferred.

Will I need to work night shifts in this position?

Yes, the role requires a comfort level with working night shifts.

How do I ensure accuracy in daily reconciliations?

You will be required to reconcile cash and portfolio positions daily, ensuring there are no unresolved discrepancies to maintain accuracy.

Are there opportunities for training others in this role?

Yes, part of the responsibilities includes assisting and training others in your team with their NAV calculation and problem resolution.

What tools or systems will I be using?

You will utilize accounting and trade entry systems to research and resolve differences, as well as post accounting entries to the general ledger.

What are the expectations regarding deadlines and detail orientation?

The position is deadline and detail-oriented, requiring a high level of organization and attention to detail in all tasks.

How does State Street Corporation support career development in this role?

State Street provides opportunities for operational efficiencies, training, and development to enhance your skills and career growth within the company.

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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.