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Fund Accounting - Associate 2

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State Street

2mo ago

  • Job
    Full-time
    Junior Level
  • Accounting & Tax
    Banking & Finance
  • Chennai
  • Quick Apply

AI generated summary

  • You need 2+ years in Fund Accounting, knowledge of securities, strong interpersonal skills, a relevant degree, proficiency in MS Office, and the ability to work night shifts.
  • You will calculate and validate NAV, reconcile cash and portfolio positions, accrue income and expenses, analyze P&L, post entries, review allocations, 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 daily, weekly, or monthly Net Asset Value (NAV) for assigned funds, ensuring 100% accuracy, timeliness, and completeness.

What is the minimum experience required for this role?

A minimum of 2+ years of Fund Accounting experience is required for this position.

Is a specific educational background required for this job?

A Bachelor's degree or equivalent work experience in Accounting, Economics, Finance, or a related field is preferred.

What are the expected working hours for this position?

Candidates should be comfortable working night shifts as part of the job requirements.

What skills are important for this role?

Important skills include proficiency in Microsoft Office (Excel and Word), excellent communication, organization, interpersonal planning, analytical skills, and being deadline and detail-oriented.

Will the candidate have the opportunity to train others?

Yes, the candidate will assist and train others in the team with NAV calculation and problem resolution.

What types of financial instruments will the candidate be dealing with?

The candidate will reconcile portfolio positions that include equities, bonds, swaps, options, foreign exchange, futures, and other evolving derivative instruments.

Are there any specific software or technical skills required?

Proficiency in Microsoft Office products is required, and familiarity with accounting and trade entry systems will be beneficial.

What is a key aspect of the daily responsibilities?

A key aspect is reconciling cash daily and ensuring there are no unresolved discrepancies.

How does this role contribute to operational efficiency?

The candidate is expected to design and implement operational efficiencies as part of their responsibilities.

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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.