Fund Accounting & Administration, Officer
Who we are looking for:
Reporting to an AVP, the Officer is responsible for overseeing several teams and ensuring team compliance with operating policies, procedures and guidelines in the timely completion of accurate Net Asset Valuations (NAV). They are also responsible for team development and staff management, including the interview and hiring process and also performance review and assessment. . In addition the Officer will also be involved with and drive projects such as the provision of management reporting, BCP and Risk initiatives, as well as ad hoc project work with the objectives of enhancing client satisfaction or wining operational efficiencies.
Why this role is important to us:
The team you will be joining is a part of International Fund Services (IFS), acquired by State Street in July 2002. IFS, also known as Alternative Investment Solutions is a recognized industry-leading provider of fund accounting, fund administration and risk services to hedge funds and private equity funds. 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 alternative investment industry from day one is a challenge you are up for.
What you will be responsible for:
As Hedge Fund Accounting, Officer you will
Communication and stakeholder contact
- Provide support for and effectively communicate both home site and local managers and teams
- Manage relationships with internal clients (other State Street offices outsourcing to Hangzhou) at appropriate levels to ensure continued confidence in the Hangzhou office. This will include late night and early morning conference calls across all time zones.
- Responsible for key operational metrics, SLAs, KPIs
- Become familiar with our global product offering
- Maintain primary portfolio, accounting and taxation records for a variety of onshore and offshore hedge fund partnerships and corporations, trading in all types of investment securities and products
- Familiar with end to end NAV processes and in-depth business knowledge on Hedge products and systems
- Calculate monthly Net Asset Valuations for the purpose of reporting to investors and processing of investor subscription and withdrawal activity
- Allocate gains and losses amongst investors and calculate and accrue management and performance fees payable to hedge fund managers
- Prepare tax lot accounting reports and schedules and assist in preparation of annual financial statements and taxation returns
- Prepare fund performance reports including annual summaries and weekly return estimates
- Prepare ad hoc portfolio, performance and fee reports as requested by Home-sites
- Maintain primary accounting records for hedge fund management companies
Training, People Development and knowledge management
- Develop and monitor individual development plans for key people in the team.
- Address the queries from the team and provide guidance and support from technical perspective, responsible for SOP set-up and review
- Responsible for the direction and training of managers, succession plan
- Improve and build training mechanism for hedge new starters, knowledge management and experience sharing
- Support internal rotations and succession plans within the Unit
- Lead improvement and transformation projects collaborating with home sites and Hangzhou Hedge Unit Head, serve on committees and task force assignments
- Working with teams on productivity and efficiency improvement
What we value:
- This role requires strong communication, staff management and client serving skills as well relevant industry experience.
- Candidates must have a college degree (business, accounting, economics, mathematics, finance and at least 5 years of accounting and/or financial service operations experience.
Education & Preferred Qualifications:
- Hedge fund administration industry experience essential including familiarity with performance fee structures, tax allocation methodologies, hot issue allocations and management company record keeping
- Experience with portfolio accounting systems
- Detailed understanding of how to account for, value and service all types of investment products including derivatives, swaps, options, futures and forwards
- Have experience and proven skill in managing multi-functional, organizational and jurisdictional lines; brings own area of expertise to the table.
- Understand unit strategic/business plan; ability to support strategic direction for areas of responsibility and ensure goals/objectives are aligned with those of the business.
- Possess knowledge of accounting and administration products and services.
- Demonstrates a strong commitment to organizational success; work to do what is best for the organization and its stakeholders (e.g., customers, shareholders and employees).
- Demonstrated ability to make and stand by difficult or unpopular decisions when they are in the best interests of the client or corporation.
- Demonstrates an appreciation for people and perspectives that differ from own; ability to adapt style to match the needs of different individuals, teams and situations.
- Act as a role model and be committed to model appropriate executive behavior at all times; consistently ‘live’ the organizational values.
- Good interpersonal skills and ability to interface with colleagues from all disciplines, backgrounds and cultures - both in the region and across the globe.
- Keeps up-to-date with emerging business, economic, and market trends
- Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
Drive and Motivation
- Successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
Client and Business Focus
- Effectively handles difficult requests, builds trusting, long-term relationships with clients, helps the client to identify/define needs and manages client/business expectations
- Gives evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
- Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
Judgment and Problem solving
- Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
- Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations
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.
For further information, and to apply, please visit our website via the “Apply” button below.