Alternative Ops Fund Accounting - Assistant Vice President

Why this role is important to us

The main function of the role is: Account for the day-to-day management of a functional/oversight team(s) and manage daily service delivery and production activities performed by staff. Work in conjunction with individuals on the team as well as other Shared Service teams/COE’s, outsource locations, Client Operations and other business units to ensure seamless processing according to the fund’s policies, to ensure NAV/yield accuracy and that all SLAs are met. As well as, Work collaboratively with teams and management across the organization on various projects, oversight, committees, KPIs, etc.

What you will be responsible for

• Coordinate processing of payments and other transactions
• Responsible for maintaining books and records and calculation of fund Net Asset Values
• Preparation and review of calculations of carried interest/performance/incentive fees;
• Preparation and review of calculations and investor allocations for capital calls, distributions and equalizations
• Identifying the GAAP to NAV differences and provide explanation
• Review of variance analysis and provide comments
• Complete knowledge on Debt Valuation, Equity, Cash flow, Deferred Revenue cost and Re-valuation of assets schedule
• Maintenance of various entities books of accounts both Book side and Market side
• Display ability to performance variance analysis to explain significant movements from quarter to quarter
• Review the general ledger for various fund entities
• Review supporting work papers for financial statements, portfolio schedules and capital account allocations
• Reviewing financial statements and footnote disclosures
• Analytical review of monthly/quarterly investment and fund performance data
• Reviewing and/or preparing of capital calls, distributions and bank reconciliations
• Reviewing management, annual and incentive fee calculations
• Preparing various client correspondences
• Calculating waterfalls and capital account allocations
• Ensuring compliance with legal documents
• Handle client’s calls, complaints, questions and queries as required
• Responsible for all audit queries
• Interacting with onshore counterparts
• Team managing skills like staffing, maintenance of attendance and leaves
• Monitor the productivity and quality of the team
• Brining ideas on to the table and process improvement
• Participating in presentations to existing and prospective clients
• Monitor compliance of various agreements with clients, including the Service Level Agreement
• Monitor the trainings status of subordinates and provide calendar to complete the training on time
• Ensure appropriate records of daily and monthly activities are kept. Assist with compliance/fiduciary reviews, controls, and audits as needed.
• Establish and maintain files, including highly confidential and sensitive information, which pertains to clients and division/corporate operations, as well as short/long-term strategies, budgets, etc.
• Assess impacts of regulatory changes. Identify and implement consistent operational best practices. Organize Shared Service internal meetings and compiles related documentation, assisting with the coordination and development of the agenda and may attend meetings to record notes and action items.
• Coordinate the implementation of new funds, systems and processes as well as assists with client conversions and other client projects.
• Practical knowledge on journal entries and posting of journals and on financial statement preparation in line with IFRS/ US-GAAP
• Complete knowledge at preparation and review of various schedules attached to a Private Equity financial statement
• Knowledge on revenue recognition and accrual concept based on accounting standard
• Train, develop and motivate new staff, as well as complete performance appraisals. Provide staffing recommendations by interviewing new personnel and making effective hiring decisions.
• Serve on committees and help define and implement new company initiatives.
• Provide coaching and development opportunities to staff, participate in individual on-going training and development. Has accountability and responsibility for completing and delivering performance appraisal on time.
• Make effective recommendations to hire, discipline, control work and terminate employment. Make effective recommendations for promotions, salary increases and bonuses.
• During the course of normal day to day operations, responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or
• Commercial acumen - Understanding of cost/budgets (Officer level), Lead/drive the same
• Taking accountability of end-to-end outcomes as an enterprise, collaborating across functions/business and locations

What we value

These skills will help you succeed in this role

• ·Good communication skills and proficiency in English (both verbal and written).
• Knowledge in Microsoft Applications (Excel, Word, Powerpoint etc).
• Working knowledge of Investran/Oracle will be an added advantage
• Private equity/real estate fund experience. Exposure to complex fund structure, waterfall computation, preferred return.
• Motivated, bright and diligent individual who is driven to meet deadlines.
• A team player who is able to manage individual responsibilities.
• Supervisory skills with experience in managing and/or leading staff for 3-4 years.
• Strong business acumen.
• Good client/ business relationship management
• Sound judgment, problem solving and analytical skills
• Should have prior Fund accounting experience including General Ledger analysis and reconciliation.

Education & Preferred Qualifications

• Graduate / Master’s Degree in Accounting, Finance, any other professional accounting qualification (ie. CA, CWA, CPA, CFA, CA inter, CWA inter or equivalent)
• Minimum of 10– 18 years’ experience in accounting for the financial services sector, particularly Private Equity, Asset Management or Fund Administration.
• Knowledge of IFRS and / or USGAAP
• Experienced in preparing general ledger and financial statements.

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 by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.