Fund Accounting & Administration, Associate

State Street Corporation
Boston, USA
19 Mar 2023
21 Mar 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Who We Are Looking For
We are looking for bright, enthusiastic and hard-working individuals with a keen interest in learning about and accounting for complex investment transactions and structures in a dynamic, challenging and fast-paced work environment. Your success will be facilitated by the leading-edge technology infrastructure supported by well-developed procedures and controls. We offer you a challenging career in a rapidly expanding international company with a professional, yet casual, work environment.

Why this role is important to us

The team you will be joining is a part of our State Street Alternatives operation. We are a recognized industry-leading provider of fund accounting, fund administration and risk services to alternative investment fund managers. These services are fully integrated to provide complete end-to-end solutions that span the front-, middle- and back-office requirements of institutional investors. 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
  • Complete the daily processing and monitoring of fund activities
  • Prepare capital call and distribution calculations; related notices to investors
  • Prepare/Review periodic bank and cash reconciliations and post journal entries
  • Prepare quarterly management fee calculations
  • Preparation of waterfall calculations and capital account allocations
  • Prepare fund trial balances and supporting workpapers
  • Assist the quarter-end book closing process
  • Assist in managing internal workflow to ensure internal processing and client deadlines are met
  • Work with other services departments to resolve errors/issues or to reconcile discrepancies
  • Establish and maintain good working relationships with internal clients and colleague
  • Ensure all processes are in line with the SLA and escalate, if necessary
  • Participate in special client or internal projects as required
  • Assist in new business setup and conversions
  • During the course of normal day to day operation, 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
  • Ensure standard procedures and controls are adhered to
  • Initiate, propose and implement improvements to enhance efficiencies and accuracy when see fit
  • Liaise with investment managers, auditors and banks
  • Ongoing personal education and development by attendance of State Street training sessions

What we value
These skills will help you succeed in this role
  • Excellent communication and interpersonal skills
  • Team player and collaborative
  • Strong attention to detail and accuracy and organized
  • Strong analytical skills and proactive approach to problem solving
  • Confident, decisive, and energetic
  • Strong work ethic - flexible, adaptable and ability to work within deadlines
  • Can-do attitude with high energy
  • Self-motivated with a passion for learning and growth

Education & Preferred Qualifications
  • Must have a College diploma or university degree with concentration in Accounting, Finance or Economics
  • Working knowledge of Microsoft Excel/Word (knowledge of Bloomberg a plus)
  • Overtime may be required

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 in locations, but you may expect generous medical care, insurance and savings plans among other perks. You'll have access to flexible Work Program 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 perspective 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 the 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 program 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:
$41,600 - $60,320 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.
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