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Fund Accounting - Associate 2

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State Street

5d ago

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

AI generated summary

  • You must have a Bachelor's in Accounting or related field, 2-4 years in Fund Accounting, Excel proficiency, strong communication skills, and attention to detail.
  • You will validate daily activities, calculate fund transactions, resolve inquiries, maintain records, produce reports, train new hires, and identify unusual transactions as needed.

Requirements

  • 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)
  • Location: Mumbai – multiple shifts available
  • Excellent communication, organization, interpersonal planning, and analytical skills
  • Deadline and detail oriented
  • Minimum of 2-4 years of related Custody and/or Fund Accounting experience.
  • Knowledge of securities language and legal requirements.
  • Good interpersonal and organizational skills.
  • Some understanding of operational functions within Custody and/or Fund Accounting.
  • Demonstrated computer proficiency and working knowledge of various software applications.
  • Demonstrated ability to meet deadlines and possess strong problem solving and resolution skills.
  • Some understanding of financial services and investment products.
  • Strong attention to detail and a focus on service.
  • Strong PC skills, specifically Excel skills (Intermediate)
  • Strong written and verbal communication skills
  • Ability to prioritize multiple responsibilities to meet internal and industry deadlines.
  • Strong problem resolution skills
  • Ability to work well in a fast paced, high volume atmosphere

Responsibilities

  • Validate and review all daily activity while maintaining all required controls
  • Calculate and process fund and account activities, e.g. supporting NAV, SEC yields, cash movements, distributions, corporate actions, bank loans, processed transactions, etc. and prepares proofs as needed
  • Support the review and validation of data as needed, e.g. fund Net Asset Values, etc. as well as distribute information to Shared Services and Client Operations teams
  • Research and resolve exceptions, reconciliations, incorrect transactions and issues
  • Receive and resolve inquiries in a timely and accurate manner and communicates effectively with clients when necessary
  • Escalate unresolved issues to management as required
  • Maintain appropriate records of daily and monthly activities
  • Support the production of financial, performance and/or quality reports for client, shareholder, director and management as needed
  • Maintain knowledge of current alternative procedures and processes
  • Document any updates or changes to formal procedures, databases, etc.
  • Prepare and verify information for various projects/special requests as directed
  • 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 other duties as assigned.

FAQs

What is the primary purpose of the Associate 2 role in Fund Accounting?

The primary purpose of the Associate 2 role is to work in conjunction with team members and other business units to ensure seamless processing according to fund policies, ensuring NAV/yield accuracy and that all SLAs are met.

What are the key responsibilities of this position?

Key responsibilities include validating and reviewing daily activity, calculating fund activities, supporting data validation, resolving exceptions, and maintaining records of daily and monthly activities.

What qualifications are required for this role?

A Bachelor’s degree or equivalent work experience in Accounting, Economics, Finance, or a related field is preferred, along with proficiency in Microsoft Office products and strong analytical skills.

How many years of experience are required for the Associate 2 position?

A minimum of 2-4 years of related custody and/or fund accounting experience is required.

Is there a specific location for the job?

Yes, this position is based in Mumbai, and multiple shifts are available.

What skills are essential for this role?

Essential skills include strong attention to detail, problem-solving skills, effective communication, and the ability to work under pressure in a fast-paced environment.

Will the role involve training new hires?

Yes, supporting the training of new hires is part of the responsibilities of this position.

What software proficiency is required for the role?

Proficiency in Microsoft Office, particularly strong intermediate Excel skills, is required, along with demonstrated computer proficiency in various software applications.

What type of inquiries will the Associate 2 need to handle?

The Associate 2 will need to receive and resolve inquiries in a timely manner and communicate effectively with clients as necessary.

Is reporting unusual transaction activity a responsibility of this role?

Yes, the Associate 2 is responsible for identifying and reporting any unusual or potentially suspicious transaction activity in accordance with corporate policy and guidelines.

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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.