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Financial Reporting - Associate 2

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State Street

1mo ago

  • Job
    Full-time
    Mid Level
  • Accounting & Tax
    Business, Operations & Strategy
  • Quick Apply

AI generated summary

  • You must prepare financial statements, train staff, manage risks, ensure accuracy, utilize automation, resolve client issues, coordinate with departments, and possess strong communication and problem-solving skills.
  • You will prepare financial statements, train staff, manage risks, oversee workflows, ensure accuracy, implement processes, resolve client issues, support offshoring partners, and handle ad-hoc projects.

Requirements

  • Prepare and perform 1st level reviews on private equity and hedge fund financial statements in accordance with relevant GAAP and regulatory requirements and assist with draft and support distribution to client and auditors, ensuring that all deliverables are completed accurately and within agreed upon time
  • Provide on-the-job training and coaching to all staff in addition provide performance feedback to manager for review
  • Responsible for risk management by ensuring staff understands all Standard Operating procedures, Key Controls, and Client Specific Procedures/Checklists
  • Estimate personnel needs, assign work, oversee short term deliverables, coordinate workflow, maintain working knowledge of overall process operating model while assisting with deployment of operational changes
  • Ensure team is achieving accuracy and meeting pre-determined deadlines
  • Implement all standard practices, processes, tools, and technology enhancements
  • Effectively use automation and make recommendations for current system enhancements
  • Participate in the research and resolution of client issues
  • Volunteer for ad-hoc projects and help with last minute requests
  • Resolve issues and prioritize actions in the absence of the direct manager
  • Assist with coordination of activities between multiple departments within the organization, including our global offshoring partners
  • Draft and update task lists for offshoring partners, ensures all supporting documentation is available to them and acts as primary contact to answer their questions and issues
  • Fund Accounting
  • Transaction processing & Management
  • Financial Analysis
  • Excellent communication skills
  • Problem solving
  • Statistical analysis

Responsibilities

  • Prepare and perform 1st level reviews on private equity and hedge fund financial statements in accordance with relevant GAAP and regulatory requirements and assist with draft and support distribution to client and auditors, ensuring that all deliverables are completed accurately and within agreed upon time
  • Provide on-the-job training and coaching to all staff in addition provide performance feedback to manager for review
  • Responsible for risk management by ensuring staff understands all Standard Operating procedures, Key Controls, and Client Specific Procedures/Checklists
  • Estimate personnel needs, assign work, oversee short term deliverables, coordinate workflow, maintain working knowledge of overall process operating model while assisting with deployment of operational changes
  • Ensure team is achieving accuracy and meeting pre-determined deadlines
  • Implement all standard practices, processes, tools, and technology enhancements
  • Effectively use automation and make recommendations for current system enhancements
  • Participate in the research and resolution of client issues
  • Volunteer for ad-hoc projects and help with last minute requests
  • Resolve issues and prioritize actions in the absence of the direct manager
  • Assist with coordination of activities between multiple departments within the organization, including our global offshoring partners
  • Draft and update task lists for offshoring partners, ensures all supporting documentation is available to them and acts as primary contact to answer their questions and issues

FAQs

What are the primary responsibilities of an Associate 2 in Financial Reporting?

The primary responsibilities include preparing and performing first level reviews on financial statements, providing training and coaching to staff, managing risk through adherence to procedures, overseeing workflows, ensuring accuracy and deadlines are met, implementing standard practices and enhancements, and assisting with client issue resolution.

What skills are valued for success in this role?

Skills that will help succeed in this role include fund accounting, transaction processing and management, financial analysis, excellent communication skills, problem solving, and statistical analysis.

Is experience in private equity and hedge fund financial statements necessary?

Yes, experience in preparing and reviewing private equity and hedge fund financial statements in accordance with GAAP and regulatory requirements is necessary.

What will my role be in terms of training other staff members?

You will be responsible for providing on-the-job training and coaching to all staff members and giving performance feedback to your manager for review.

How does this position involve coordinating with other departments?

This position involves assisting with coordination of activities between multiple departments within the organization, including our global offshoring partners.

What is expected in terms of workflow management?

You will need to estimate personnel needs, assign work, oversee short-term deliverables, coordinate workflow, and maintain a working knowledge of the overall process operating model, while also assisting with the deployment of operational changes.

Are there opportunities for involvement in ad-hoc projects?

Yes, there are opportunities to volunteer for ad-hoc projects and help with last-minute requests.

Will I need to resolve any issues in the absence of my direct manager?

Yes, you will be expected to resolve issues and prioritize actions in the absence of your direct manager.

What types of recommendations may I need to make regarding systems?

You may be expected to effectively use automation and make recommendations for current system enhancements.

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State Street

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