Alternative Investments Associate/Accountant

Job Description

Alternative Investments Accountant | U.S. Bank

The Tone:
This is a full-time role at U.S. Bank, a large financial institution committed to helping customers and businesses make smarter financial decisions, and enabling communities to grow and succeed. The company fosters a supportive environment where individuals can discover new skills and thrive. This role is integral to the Alternative Investments team, responsible for providing essential accounting, administration, and investor servicing for complex financial products like hedge funds, private equity funds, and closed-end registered products. The work directly ensures the accuracy and timely dissemination of critical financial and performance information to investment advisors and their investors, supporting transparent and effective financial operations.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: Not specified
• Pay: $66,640–$78,400 yearly
• Mission: Ensure accurate accounting, administration, and investor servicing for alternative investment products, providing critical financial and performance information to stakeholders.
• Tech Stack: PCS (Investran), Cascade, Microsoft Office applications

What You’ll Actually Do
• Fund Accounting Oversight: Serve as the primary fund accountant for a portfolio of client relationships, ensuring that all fund accounting functions are completed accurately and in strict accordance with Generally Accepted Accounting Principles (GAAP).
• Net Asset Value (NAV) Calculation and Dissemination: Accurately calculate net asset value(s) for assigned funds and promptly disseminate comprehensive financial and performance information to both the investment advisor and their underlying investors.
• Portfolio Transaction Processing: Meticulously record all trade information, income, and expense activities, and apply the appropriate valuation of securities within the dedicated portfolio accounting system to maintain precise financial records.
• Investor Capital Management: Manage all investor capital activities by accurately entering and reconciling contributions and withdrawals within the partnership accounting system, and precisely allocating fund-level profits to individual investors for the preparation and distribution of detailed investor statements.
• Financial Reporting and Audit Preparation: Review and coordinate thorough fund expense analysis and processing, and prepare essential fund financial statements, along with detailed audit and tax schedules to support regulatory and compliance requirements.

The Must-Haves
• Background: Possess a Bachelor’s degree in Accounting, Finance, or a business-related field, or have equivalent work experience demonstrating a foundational understanding of financial principles.
• Experience: Bring less than two years of relevant professional experience, with a preference for prior work in portfolio accounting or partnership accounting.
• Skills: Demonstrate thorough knowledge in accounting, reporting, and analysis; exhibit strong problem-solving capabilities to resolve or escalate complex issues with minimal guidance; ability to manage multiple tasks and deadlines simultaneously; effective interpersonal, verbal, and written communication skills; and proficiency in various software packages including Microsoft Office applications.
• Bonus: Prior knowledge or experience with PCS (Investran) and Cascade software platforms is considered a significant advantage.